<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2026-01-01</periodOfReport>

    <issuer>
        <issuerCik>0001697532</issuerCik>
        <issuerName>Applied Therapeutics, Inc.</issuerName>
        <issuerTradingSymbol>APLT</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001775394</rptOwnerCik>
            <rptOwnerName>Funtleyder Leslie D.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O APPLIED THERAPEUTICS, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>545 FIFTH AVENUE, SUITE 1400</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10017</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>true</isDirector>
            <isOfficer>true</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
            <officerTitle>Chief Financial Officer</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>false</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2026-01-01</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>150000</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1340459</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Consists of compensatory Restricted Stock Units (&quot;RSUs&quot;) granted under the Applied Therapeutics, Inc.'s 2019 Equity Incentive Plan (the &quot;Plan&quot;). Each compensatory RSU represents a contingent right to receive one share of the Issuer's
common stock. The compensatory RSUs shall vest in equal monthly installments over the twenty-four month period immediately following January 1, 2026, subject to the Reporting Person continuing to provide services through each such
date.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Leslie D. Funtleyder</signatureName>
        <signatureDate>2026-01-02</signatureDate>
    </ownerSignature>
</ownershipDocument>
