SEC Form 4 · accession 0001140361-15-015378
Bridgepoint Education Inc · BPI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Christopher M Henn
Officer — EVP, Chief Operating Officer
Period of report
Apr 13, 2015
Accepted (ET)
Apr 14, 2015 · 7:26 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 | $9.57 | Apr 13, 2015 | A | 39,597 | A | — | Apr 13, 2025 | Common Stock | 39,597 | 39,597 | D |
| Restricted Stock UnitsF2,F3 | — | Apr 13, 2015 | A | 18,998 | A | — | — | Common Stock | 18,998 | 18,998 | D |
| Performance-Based Restricted Stock Units (PSUs)F4,F5 | — | Apr 13, 2015 | A | 45,719 | A | — | — | Common Stock | 45,719 | 45,719 | D |
| Restricted Stock UnitsF2,F6 | — | Apr 13, 2015 | A | 51,813 | A | — | — | Common Stock | 51,813 | 51,813 | 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 April 13, 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 April 13, 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 April 13, 2015.
- F6Subject to the reporting person's continuing service, the restricted stock units vest as follows: (i) 50% of the restricted stock units vest on the first anniversary of the vesting commencement date, and (ii) the remaining 50% of the restricted stock units shall vest on the second anniversary of the vesting commencement date. The vesting commencement date for the restricted stock units is April 13, 2015.