SEC Form 4 · accession 0001567619-18-001508
Bridgepoint Education Inc · BPI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
L Dale Crandall
Director
Period of report
Aug 17, 2018
Accepted (ET)
Aug 20, 2018 · 9:42 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 | Aug 17, 2018 | M | 19,907 | $10.50 | A | 46,808 | D | |
| Common Stock | Aug 17, 2018 | F | 15,882 | $13.16 | D | 30,926 | 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)F2 | $10.50 | Aug 17, 2018 | M | 12,573 | D | — | Apr 14, 2019 | Common Stock | 12,573 | 0 | D |
| Stock Option (right-to-buy)F2 | $10.50 | Aug 17, 2018 | M | 7,334 | D | — | Apr 14, 2019 | Common Stock | 7,334 | 0 | D |
Explanation of responses
- F1The share issuance reported on Table I (indicated by transaction code M) reflects shares issued upon the exercise of non-qualified stock options granted on April 14, 2009, which, if unexercised, would expire on April 14, 2019. The option exercises are reported on Table II. The exercises were pursuant to a net issuance program adopted by the issuer's board of directors to allow for exercise of the options prior to their expiration. Upon exercise of an option pursuant to the program, the issuer retains shares sufficient in value to cover the aggregate option exercise price. The withheld shares are indicated by transaction code F on Table I. No shares are sold into the market in connection with option exercises pursuant to the net issuance program.
- F2Immediately exercisable.