SEC Form 4 · accession 0001140361-16-059719
Bridgepoint Education Inc · BPI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Russell Sakamoto
Officer — Chief Accounting Officer
Period of report
Mar 29, 2016
Accepted (ET)
Mar 31, 2016 · 7:39 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 StockF1 | Mar 29, 2016 | M | 4,178 | $0.00 | A | 5,757 | D | |
| Common Stock | Mar 29, 2016 | F | 1,533 | $10.59 | D | 4,224 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF2,F3 | — | Mar 29, 2016 | A | 7,650 | A | — | — | Common Stock | 7,650 | 7,650 | D |
| Restricted Stock UnitsF2,F4 | — | Mar 29, 2016 | A | 3,230 | A | — | — | Common Stock | 3,230 | 3,230 | D |
| Restricted Stock UnitsF2,F5 | — | Mar 29, 2016 | M | 2,810 | D | — | — | Common Stock | 2,810 | 5,620 | D |
| Restricted Stock UnitsF2,F6 | — | Mar 29, 2016 | M | 1,368 | D | — | — | Common Stock | 1,368 | 4,104 | D |
Explanation of responses
- F1On March 29, 2016, 4,178 of the reporting person's restricted stock units were settled for an equal number of shares of the issuer's common stock.
- 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, 2016.
- F4Subject 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) 50% of the restricted stock units vest on the second anniversary of the vesting commencement date. The vesting commencement date for the restricted stock units is March 29, 2016.
- F5Subject 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, 2014.
- F6Subject 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.