Phoenix Education (PXED) Chief Legal Officer Medi Srini Exercises Options

What Happened

• Medi Srini, Chief Legal Officer and Secretary of Phoenix Education Partners, exercised 60,052 stock options on 2026-08-25 at an exercise price of $11.04 per share (cash paid ≈ $662,974). To cover tax withholding, 33,190 shares were surrendered/withheld at a reported value of $28.74 per share (≈ $953,881). No open-market sale of shares by the reporting person was made; net shares newly retained from this exercise = 60,052 − 33,190 = 26,862 shares.

Key Details

• Transaction date: 2026-08-25; Form 4 filed 2026-08-27 (no late filing indicated).
• Option exercise (code M): 60,052 shares acquired at $11.04 each (≈ $662,974).
• Tax withholding (code F): 33,190 shares withheld at $28.74 each (≈ $953,881); this is a tax withholding disposition, not an open‑market sale.
• Net shares retained from this event: 26,862 shares.
• Footnote: Options were exercised under The University of Phoenix, Inc. Management Equity Plan; the reporting person remains subject to transfer restrictions on the shares that expire October 8, 2026. The footnote states no shares were sold by the reporting person in this transaction.

Context

• This was an option exercise with shares withheld for taxes (a common way to pay withholding when exercising options), not a market sale or a new cash purchase of shares. Because restrictions on transfer remain until October 8, 2026, the insider may be limited from selling these retained shares until that date.