SEC Form 4 · accession 0001567619-18-001509

Bridgepoint Education Inc · BPI

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Officer — Chief Executive Officer · Director

Period of report

Aug 17, 2018

Accepted (ET)

Aug 20, 2018 · 9:44 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	666,667	$10.50	A	793,204	D
Common Stock	Aug 17, 2018	F	600,989	$13.35	D	192,215	D
Common Stock^F2	holding	—	—		—	513,444	I	By trust

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Stock Option (right-to-buy)^F3	$10.50	Aug 17, 2018	M	666,667	D	—	Apr 14, 2019	Common Stock	666,667	0	D

F1The share issuance reported on Table I (indicated by transaction code M) reflects shares issued upon the exercise of an employee stock option granted on April 14, 2009, which, if unexercised, would expire on April 14, 2019. The option exercise is reported on Table II. The exercise was 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 and applicable withholding taxes. 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.
F2Shares held indirectly by the reporting person in the name of the Clark Family Trust, dated July 8, 1998, of which the reporting person is a trustee and in which the reporting person has a pecuniary interest.
F3Immediately exercisable.