SEC Form 4 · accession 0001140361-16-061285
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, 2016
Accepted (ET)
Apr 15, 2016 · 4:19 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 | Apr 13, 2016 | M | 30,657 | $0.00 | A | 30,657 | D | |
| Common Stock | Apr 13, 2016 | F | 11,522 | $9.90 | D | 19,135 | 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 | — | Apr 13, 2016 | M | 25,907 | D | — | — | Common Stock | 25,907 | 25,906 | D |
| Restricted Stock UnitsF2,F4 | — | Apr 13, 2016 | M | 4,750 | D | — | — | Common Stock | 4,750 | 14,248 | D |
Explanation of responses
- F1On April 13, 2016, 30,657 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) 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.
- 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 April 13, 2015.