SEC Form 4 · accession 0001209191-16-108868
PERDOCEO EDUCATION Corp · PRDO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jeffrey David Ayers
Officer — SVP, General Counsel
Period of report
Mar 14, 2016
Accepted (ET)
Mar 16, 2016 · 4:50 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001046568
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Mar 14, 2016 | F | 1,356 | $4.60 | D | 68,843 | D | |
| Common StockF2 | Mar 14, 2016 | A | 70,000 | $0.00 | A | 138,843 | D | |
| Common StockF1 | Mar 14, 2016 | F | 644 | $4.60 | D | 138,199 | D | |
| Common StockF3 | Mar 14, 2016 | M | 10,666 | — | A | 148,865 | D | |
| Common Stock | Mar 14, 2016 | D | 10,666 | $4.60 | D | 138,199 | D | |
| Common StockF3 | Mar 14, 2016 | M | 2,069 | — | A | 140,268 | D | |
| Common StockF4 | Mar 14, 2016 | D | 2,069 | $4.60 | D | 138,199 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash-Settled RSUF3,F5 | — | Mar 14, 2016 | M | 10,666 | D | — | Mar 14, 2017 | Common Stock | 10,666 | 10,666 | D |
| Cash-Settled RSUF3,F6 | — | Mar 14, 2016 | M | 2,069 | D | — | Mar 14, 2019 | Common Stock | 2,069 | 6,207 | D |
Explanation of responses
- F1Reflects shares of common stock surrendered to the Company to satisfy tax withholding obligations in connection with the vesting of restricted stock or stock units.
- F2Performance-based restricted stock units granted pursuant to the Career Education Corporation 2008 Incentive Compensation Plan, with each unit representing the contingent right to receive one share of Issuer's common stock. The units vest 20% on March 14, 2017, 50% on March 14, 2018 and 30% on March 14, 2019, subject to the achievement of certain performance criteria.
- F3Each cash-settled RSU is the economic equivalent of one share of Issuer's common stock.
- F4Includes 102,983 restricted stock units granted pursuant to the Career Education Corporation 2008 Incentive Compensation Plan, with each unit representing the contingent right to receive one share of Issuer's common stock.
- F5The remaining cash-settled RSUs vest in one installments on March 14, 2017.
- F6The remaining cash-settled RSUs vest in three equal installments on March 14, 2017, 2018 and 2019.