SEC Form 4 · accession 0001140361-15-013764
Bridgepoint Education Inc · BPI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Marc Brown
Officer — SVP, Chief HR Officer
Period of report
Mar 29, 2015
Accepted (ET)
Mar 31, 2015 · 9:27 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001305323
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (right to buy)F1 | $9.43 | Mar 29, 2015 | A | 16,662 | A | — | Mar 29, 2025 | Common Stock | 16,662 | 16,662 | D |
| Restricted Stock UnitsF2,F3 | — | Mar 29, 2015 | A | 8,023 | A | — | — | Common Stock | 8,023 | 8,023 | D |
| Performance-Based Restricted Stock Units (PSUs)F4,F5 | — | Mar 29, 2015 | A | 8,235 | A | — | — | Common Stock | 8,235 | 8,235 | D |
Explanation of responses
- F1Subject to the reporting person's continuing service, this option vests and becomes exercisable as follows: (i) 25% of the shares subject to the option shall vest and become exercisable on the first anniversary of the vesting commencement date, (ii) an additional 2% of the shares subject to the option shall vest and become exercisable on each monthly anniversary of the vesting commencement date for the thirty-three months following the first anniversary of the vesting commencement date and (iii) an additional 3% of the shares subject to the option shall vest and become exercisable on each of the 46th, 47th and 48th monthly anniversaries of the vesting commencement date. The vesting commencement date for this option is March 29, 2015.
- F2Each restricted stock unit represents a contingent right to receive one share of the issuer's common stock.
- F3Subject to the reporting person's continuing service, the restricted stock units vest as follows: (i) 25% of the restricted stock units vest on the first anniversary of the vesting commencement date, and (ii) an additional 25% of the restricted stock units shall vest on each subsequent anniversary of the vesting commencement date. The vesting commencement date for the restricted stock units is March 29, 2015.
- F4Each performance stock unit represents a contingent right to receive one share of the issuer's common stock.
- F5Subject to the reporting person's continuing service, the performance stock units vest as follows: (i) 25% of the performance stock units vest on the first anniversary of the vesting commencement date, and (ii) an additional 25% of the performance stock units shall vest on each subsequent anniversary of the vesting commencement date, in each case contingent upon achievement of the stock price performance goal for the immediately preceding performance period. The vesting commencement date for the performance stock units is March 29, 2015.