SEC Form 4 · accession 0001140361-15-027558
Bridgepoint Education Inc · BPI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jane McAuliffe
Officer — EVP, Chief Academic Officer
Period of report
Jul 13, 2015
Accepted (ET)
Jul 14, 2015 · 7:52 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001305323
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Jul 13, 2015 | M | 13,954 | $0.585 | A | 19,809 | D | |
| Common StockF2 | Jul 13, 2015 | S | 13,954 | $9.3673 | D | 5,855 | D |
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)F3 | $0.585 | Jul 13, 2015 | M | 13,954 | D | — | Nov 27, 2017 | Common Stock | 13,954 | 0 | D |
Explanation of responses
- F1The sale of shares reported on this Form 4 was effected pursuant to a Rule 10b5-1 trading plan entered into by the reporting person on December 12, 2014.
- F2Represents the weighted average share price of an aggregate total of 13,954 shares sold in the price range of $9.335 to $9.510 by the reporting person. The reporting person undertakes to provide upon request by the Commission staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price.
- F3This option vested and became exercisable as follows: (i) 25% of the option vested on the first anniversary of the vesting commencement date, (ii) an additional 2% of the option vested 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 option vested on each of the 46th, 47th and 48th monthly anniversaries of the vesting commencement date. The vesting commencement date for this option is November 27, 2007. This option became 100% vested and exercisable on November 27, 2011.