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PERDOCEO EDUCATION Corp — Director's Dealing 2016
Mar 16, 2016
31526_dirs_2016-03-16_99fae073-d2e6-4510-a015-c4611c287a36.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: 2016-03-14
Reporting Person: Peppers Michele A (Principal Accounting Officer)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2016-03-14 | Common Stock | F | 382 | $4.60 | Disposed | 24593.6 | Direct |
| 2016-03-14 | Common Stock | M | 2515 | — | Acquired | 27108.6 | Direct |
| 2016-03-14 | Common Stock | D | 2515 | $4.60 | Disposed | 24593.6 | Direct |
| 2016-03-14 | Common Stock | M | 1603 | — | Acquired | 26196.6 | Direct |
| 2016-03-14 | Common Stock | D | 1603 | $4.60 | Disposed | 24593.6 | Direct |
| 2016-03-14 | Common Stock | M | 1264 | — | Acquired | 25857.6 | Direct |
| 2016-03-14 | Common Stock | D | 1264 | $4.60 | Disposed | 24593.6 | Direct |
| 2016-03-14 | Common Stock | A | 28000 | $0.00 | Acquired | 52593.6 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2016-03-14 | Cash-Settled RSU | $ | M | 2515 | Disposed | 2017-03-14 | Common Stock (2515) | Direct |
| 2016-03-14 | Cash-Settled RSU | $ | M | 1603 | Disposed | 2018-03-14 | Common Stock (1603) | Direct |
| 2016-03-14 | Cash-Settled RSU | $ | M | 1264 | Disposed | 2019-03-14 | Common Stock (1264) | Direct |
Footnotes
F1: Reflects shares of common stock surrendered to the Company to satisfy tax withholding obligations in connection with the vesting of restricted stock or stock units.
F2: Each cash-settled RSU is the economic equivalent of one share of Issuer's common stock.
F3: Performance-based restricted stock units granted pursuant to the Career Education Corporation 2008 Incentive Compensation Plan, with each unit representing the contingent right to receive one share of Issuer's common stock. The units vest 20% on March 14, 2017, 50% on March 14, 2018 and 30% on March 14, 2019, subject to the achievement of certain performance criteria.
F4: Includes 47,872 restricted stock units granted pursuant to the Career Education Corporation 2008 Incentive Compensation Plan, with each unit representing the contingent right to receive one share of Issuer's common stock.
F5: The remaining cash-settled RSUs vest in one additional installment on March 14, 2017.
F6: The remaining cash-settled RSUs vest in two additional installments on March 14, 2017 and 2018.
F7: The remaining cash-settled RSUs vest in three additional installments on March 14, 2017, 2018 and 2019.