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PERDOCEO EDUCATION Corp — Director's Dealing 2015
Mar 11, 2015
31526_dirs_2015-03-10_1168f0c9-f703-44b5-9aac-f7af932ba342.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: CAREER EDUCATION CORP (CECO)
CIK: 0001046568
Period of Report: 2015-03-06
Reporting Person: Jones Diane Auer (SVP, Chief Ext Affairs Officer)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2015-03-06 | Common Stock | M | 7116.0 | $2.72 | Acquired | 25011 | Direct |
| 2015-03-06 | Common Stock | S | 7116.0 | $5.9401 | Disposed | 17895 | Direct |
| 2015-03-06 | Common Stock | A | 5100.0 | $0.0 | Acquired | 22995 | Direct |
| 2015-03-06 | Common Stock | S | 3626.0 | $5.88 | Disposed | 19369 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2015-03-06 | Cash Settled RSU | $ | A | 5100.0 | Acquired | 2019-03-14 | Common Stock (5100) | Direct |
| 2015-03-06 | Non-Qualified Stock Option (right to buy) | $2.72 | M | 7116.0 | Disposed | 2023-03-04 | Common Stock (7116) | Direct |
| 2015-03-06 | Non-Qualified Stock Option (right to buy) | $5.9 | A | 27112.0 | Acquired | 2025-03-06 | Common Stock (27112) | Direct |
Footnotes
F1: Restricted stock units granted pursuant to the Career Education Corporation 2008 Incentive Compensation Plan, with each restricted stock unit representing a contingent right to receive one share of common stock. The restricted stock units shall vest in four equal installments on each of March 14, 2016, 2017, 2018 and 2019.
F2: This transaction was executed in multiple trades at prices ranging from $5.86 to $5.93. The price reported above in Column 4 reflects the weighted average purchase price. The reporting person hereby undertakes to provide, upon written request, to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares and prices at which the transactions were effected.
F3: Includes 17,624 restricted stock units granted pursuant to the Career Education Corporation 2008 Incentive Compensation Plan, with each restricted stock unit representing a contingent right to receive one share of the Issuer's common stock.
F4: Each cash-settled RSU is the economic equivalent of one share of Issuer's common stock.
F5: This grant of cash-settled RSUs was approved by the Compensation Committee of Issuer's Board of Directors on March 6, 2015 pursuant to Issuer's 2008 Incentive Compensation Plan. These cash-settled RSUs vest in four equal installments on March 14, 2016, 2017, 2018 and 2019.
F6: The remaining 21,348 options vest in three equal installments on March 14, 2015, 2016 and 2017.
F7: Exercisable in four equal annual installments on each of March 14, 2016,
2017, 2018 and 2019.