diff --git a/addons/addon-webgl/src/GlyphRenderer.ts b/addons/addon-webgl/src/GlyphRenderer.ts
index be1990c2a..10e7b9ce4 100644
--- a/addons/addon-webgl/src/GlyphRenderer.ts
+++ b/addons/addon-webgl/src/GlyphRenderer.ts
@@ -100,6 +100,7 @@ export class GlyphRenderer extends Disposable {
   private readonly _attributesBuffer: WebGLBuffer;
 
   private _atlas: ITextureAtlas | undefined;
+  private _lastAtlasPagesVersion: number = -1;
   private _activeBuffer: number = 0;
   private readonly _vertices: IVertices = {
     count: 0,
@@ -213,8 +214,21 @@ export class GlyphRenderer extends Disposable {
     this.handleResize();
   }
 
+  /**
+   * Returns whether the full model must be rebuilt before rendering this frame.
+   * This is tracked per renderer (not on the shared atlas) so that every
+   * terminal sharing the atlas rebuilds its model after a page merge, not just
+   * the first one to render (vscode#322756).
+   */
   public beginFrame(): boolean {
-    return this._atlas ? this._atlas.beginFrame() : true;
+    if (!this._atlas) {
+      return true;
+    }
+    if (this._atlas.pagesVersion !== this._lastAtlasPagesVersion) {
+      this._lastAtlasPagesVersion = this._atlas.pagesVersion;
+      return true;
+    }
+    return false;
   }
 
   public updateCell(x: number, y: number, code: number, bg: number, fg: number, ext: number, chars: string, width: number, lastBg: number): void {
@@ -375,6 +389,9 @@ export class GlyphRenderer extends Disposable {
 
   public setAtlas(atlas: ITextureAtlas): void {
     this._atlas = atlas;
+    // Force a model rebuild on the next frame as glyph coordinates from a
+    // previous atlas are meaningless in the new one.
+    this._lastAtlasPagesVersion = -1;
     this.invalidateAtlasTextures();
   }
 
diff --git a/addons/addon-webgl/src/TextureAtlas.ts b/addons/addon-webgl/src/TextureAtlas.ts
index 1c3e08a1c..d1799dd57 100644
--- a/addons/addon-webgl/src/TextureAtlas.ts
+++ b/addons/addon-webgl/src/TextureAtlas.ts
@@ -132,12 +132,16 @@ export class TextureAtlas implements ITextureAtlas {
     }
   }
 
-  private _requestClearModel = false;
-  public beginFrame(): boolean {
-    const result = this._requestClearModel;
-    this._requestClearModel = false;
-    return result;
-  }
+  /**
+   * Incremented whenever the structure of the pages array changes in a way that
+   * invalidates texture page indexes/coordinates cached outside the atlas (page
+   * merges, overflow page creation). Renderers compare this against their own
+   * last-seen value to decide when to rebuild their models; the atlas is shared
+   * across terminals, so a consume-once flag would only repair the first
+   * renderer to draw (see the shared-atlas garble in vscode#322756).
+   */
+  private _pagesVersion = 0;
+  public get pagesVersion(): number { return this._pagesVersion; }
 
   public clearTexture(): void {
     if (this._pages[0].currentRow.x === 0 && this._pages[0].currentRow.y === 0) {
@@ -206,8 +210,8 @@ export class TextureAtlas implements ITextureAtlas {
       // Add the new merged page to the end
       this.pages.push(mergedPage);
 
-      // Request the model to be cleared to refresh all texture pages.
-      this._requestClearModel = true;
+      // Invalidate models so all texture pages are refreshed.
+      this._pagesVersion++;
       this._onAddTextureAtlasCanvas.fire(mergedPage.canvas);
     }
 
@@ -818,8 +822,8 @@ export class TextureAtlas implements ITextureAtlas {
           this._overflowSizePage = new AtlasPage(this._document, this._config.deviceMaxTextureSize);
           this.pages.push(this._overflowSizePage);
 
-          // Request the model to be cleared to refresh all texture pages.
-          this._requestClearModel = true;
+          // Invalidate models so all texture pages are refreshed.
+          this._pagesVersion++;
           this._onAddTextureAtlasCanvas.fire(this._overflowSizePage.canvas);
         }
         activePage = this._overflowSizePage;
diff --git a/addons/addon-webgl/src/Types.ts b/addons/addon-webgl/src/Types.ts
index 294582e37..85156d1f0 100644
--- a/addons/addon-webgl/src/Types.ts
+++ b/addons/addon-webgl/src/Types.ts
@@ -68,10 +68,13 @@ export interface ITextureAtlas extends IDisposable {
   warmUp(): void;
 
   /**
-   * Call when a frame is being drawn, this will return true if the atlas was cleared to make room
-   * for a new set of glyphs.
+   * Incremented whenever the pages array changes structurally (page merge,
+   * overflow page creation), invalidating any texture page indexes/coordinates
+   * cached by renderers. Tracked as a version rather than a consumable flag
+   * because the atlas may be shared by multiple renderers, each of which must
+   * notice the change independently.
    */
-  beginFrame(): boolean;
+  readonly pagesVersion: number;
 
   /**
    * Clear all glyphs from the texture atlas.