SEC Form 4 · accession 0001140361-16-059727
Bridgepoint Education Inc · BPI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Rodney T. Sheng
Officer — EVP, Chief Admin. Officer
Period of report
Mar 29, 2016
Accepted (ET)
Mar 31, 2016 · 8:10 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 | 17,723 | $0.00 | A | 25,625 | D | |
| Common Stock | Mar 29, 2016 | F | 6,661 | $10.59 | D | 18,964 | 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 | M | 6,700 | D | — | — | Common Stock | 6,700 | 6,700 | D |
| Restricted Stock UnitsF2,F4 | — | Mar 29, 2016 | M | 5,960 | D | — | — | Common Stock | 5,960 | 11,920 | D |
| Restricted Stock UnitsF2,F5 | — | Mar 29, 2016 | M | 5,063 | D | — | — | Common Stock | 5,063 | 15,189 | D |
Explanation of responses
- F1On March 29, 2016, 17,723 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, 2013.
- F4Subject 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.
- 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, 2015.