SEC Form 4 · accession 0001209191-16-123150
PERDOCEO EDUCATION Corp · PRDO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Andrew J Cederoth
Officer — SVP and CFO
Period of report
May 24, 2016
Accepted (ET)
May 25, 2016 · 1:36 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 | May 24, 2016 | A | 10,176 | $0.00 | A | 10,176 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Non-Qualified Stock Option (right to buy)F2 | $5.96 | May 24, 2016 | A | 57,176 | A | — | May 24, 2026 | Common Stock | 57,176 | 57,176 | D |
| Cash-Settled RSUF3,F4 | — | May 24, 2016 | A | 10,176 | A | — | Jun 14, 2020 | Common Stock | 10,176 | 10,176 | D |
Explanation of responses
- F1Restricted stock units granted pursuant to the Career Education Corporation 2016 Incentive Compensation Plan, with each unit representing the contingent right to receive one share of Issuer's common stock. The units shall vest in four equal installments on each of June 14, 2017, 2018, 2019 and 2020.
- F2Exercisable in four equal installments on each of June 14, 2017, 2018, 2019 and 2020.
- F3Each cash-settled RSU is the economic equivalent of one share of Issuer's common stock.
- F4This grant of cash-settled RSUs was approved by the Compensation Committee of Issuer's Board of Directors on May 24, 2016 pursuant to the Career Education Corporation 2016 Incentive Compensation Plan. The cash-settled RSUs shall vest in four equal installments on each of June 14, 2017, 2018, 2019 and 2020.