Naumann Cheryl M. 4
4 · Phoenix Education Partners, Inc. · Filed May 5, 2026
Research Summary
AI-generated summary of this filing
Phoenix Education (PXED) CHRO Cheryl Naumann Exercises Options
What Happened
Cheryl M. Naumann, Chief Human Resources Officer of Phoenix Education Partners (PXED), exercised stock options on May 1, 2026 to acquire 15,000 shares at an exercise price of $11.04 per share (cash cost $165,600). To satisfy tax withholding, 8,114 shares were delivered/withheld at $29.96 per share (value ~$243,095). Net new shares retained after withholding = 6,886 shares. The Form 4 was filed May 5, 2026 (timely).
Key Details
- Transaction date: 2026-05-01; Form 4 filed: 2026-05-05.
- Option exercise: 15,000 shares @ $11.04 = $165,600 (Acquired; code M).
- Tax withholding/share surrender: 8,114 shares @ $29.96 = $243,095 (Disposed; code F).
- Additional derivative line: 15,000-option conversion also recorded (administrative detail).
- Shares owned after transaction: not disclosed in this filing.
- Footnote: Options were exercised because they were scheduled to expire before transfer restrictions on the reporting person’s shares lapse; the reporting person remains subject to transfer restrictions until October 8, 2026. No open-market sale was made in connection with this transaction.
Context
This was an options exercise with partial share surrender to cover tax obligations (common "net" or share-withholding treatment). Because the shares remain subject to transfer restrictions until Oct 8, 2026, the insider cannot freely sell the newly acquired shares until those restrictions expire.
Insider Transaction Report
- Exercise/Conversion
Common Stock, par value $0.01 per share
2026-05-01$11.04/sh+15,000$165,600→ 50,936 total - Tax Payment
Common Stock, par value $0.01 per share
2026-05-01$29.96/sh−8,114$243,095→ 42,822 total - Exercise/Conversion
Employee Stock Option (Right to Buy)
[F1]2026-05-01−15,000→ 43,883 totalExercise: $11.04From: 2025-10-09Exp: 2026-08-31→ Common Stock (15,000 underlying)
Footnotes (1)
- [F1]The stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") were exercised by the Reporting Person because such stock options were scheduled to expire prior to the expiration of certain restrictions on transfer of the Issuer's common stock by the Reporting Person, as previously disclosed in connection with the Issuer's initial public offering. The Reporting Person remains subject to such restrictions, which will expire on October 8, 2026. No shares of the Issuer's common stock were sold by the Reporting Person in connection with this transaction.