4//SEC Filing
Salnoske Karl D. 4
Accession 0001104659-17-046548
CIK 0000912766other
Filed
Jul 23, 8:00 PM ET
Accepted
Jul 24, 5:02 PM ET
Size
23.7 KB
Accession
0001104659-17-046548
Insider Transaction Report
Form 4
Salnoske Karl D.
Chief Information Officer
Transactions
- Disposition to Issuer
Employee Stock Option (right to buy)
2017-07-20−33,390→ 0 totalExercise: $23.20Exp: 2024-06-17→ Class B Common Stock (33,390 underlying) - Award
Employee Stock Option (right to buy)
2017-07-20+2,075→ 2,075 totalExercise: $17.44Exp: 2026-05-02→ Class B Common Stock (2,075 underlying) - Award
Employee Stock Option (right to buy)
2017-07-20+33,390→ 33,390 totalExercise: $17.44Exp: 2024-06-17→ Class B Common Stock (33,390 underlying) - Award
Employee Stock Option (right to buy)
2017-07-20+2,671→ 2,671 totalExercise: $17.44Exp: 2024-06-17→ Class B Common Stock (2,671 underlying) - Disposition to Issuer
Employee Stock Option (right to buy)
2017-07-20−2,075→ 0 totalExercise: $23.24Exp: 2026-05-02→ Class B Common Stock (2,075 underlying) - Disposition to Issuer
Employee Stock Option (right to buy)
2017-07-20−2,686→ 0 totalExercise: $23.20Exp: 2025-03-04→ Class B Common Stock (2,686 underlying) - Disposition to Issuer
Employee Stock Option (right to buy)
2017-07-20−2,671→ 0 totalExercise: $23.20Exp: 2024-06-17→ Class B Common Stock (2,671 underlying) - Award
Employee Stock Option (right to buy)
2017-07-20+2,686→ 2,686 totalExercise: $17.44Exp: 2025-03-04→ Class B Common Stock (2,686 underlying)
Footnotes (6)
- [F1]The transactions reported herein reflect a one-time stock option repricing (the "Option Repricing") that became effective on July 20, 2017. Pursuant to the Option Repricing, the exercise price of each "Relevant Option" (any stock option awarded by Laureate Education, Inc. (the "Company") between October 2, 2013 and December 31, 2016 (inclusive)) has been amended to reduce such exercise price to $17.44, which was the average closing price of a share of the Company's Class A common stock, par value $0.004 per share ("Class A Common Stock") as reported on the Nasdaq Global Select Market over the twenty (20) calendar days preceding July 20, 2017. There have been no other changes to the terms of the Relevant Options.
- [F2]20,034 of these options are exerciseable immediately. Subject to the reporting person's continued employment by the Company, (A) 20% of these options will become exercisable on December 31, 2017 and (B) 20% of these options will become exercisable on December 31, 2018.
- [F3]Each share of the Company's Class B common stock, par value $0.004 per share ("Class B Common Stock") is convertible into one share of Class A Common Stock upon the election of the holder or upon transfer, subject to the terms of the Company's Amended and Restated Certificate of Incorporation.
- [F4]1,602 of these options are exerciseable immediately. Subject to the reporting person's continued employment by the Company, (A) 20% of these options will become vested and exercisable if the Company achieves the applicable Equity Value Target (as defined below) with respect to fiscal year 2017, and (B) 20% of these options will become vested and exercisable if the Company achieves the applicable Equity Value Target with respect to fiscal year 2018.
- [F5]1,074 of these options are exerciseable immediately. Subject to the reporting person's continued employment by the Company, (A) 20% of these options will become vested and exercisable if the Company achieves the applicable equity value target determined pursuant to the Company's 2013 Long-Term Incentive Plan, as amended (the "Equity Value Target"), with respect to fiscal year 2017, (B) 20% of these options will become vested and exercisable if the Company achieves the applicable Equity Value Target with respect to fiscal year 2018, and (C) 20% of these options will become vested and exercisable if the Company achieves the applicable Equity Value Target with respect to fiscal year 2019.
- [F6]691 of these options are exerciseable immediately. Subject to the reporting person's continued employment by the Company, (A) one-third (1/3) of these options will become exercisable on December 31, 2017, and (B) one-third (1/3) of these options will become exercisable on December 31, 2018.
Documents
Issuer
LAUREATE EDUCATION, INC.
CIK 0000912766
Entity typeother
Related Parties
1- filerCIK 0001696028
Filing Metadata
- Form type
- 4
- Filed
- Jul 23, 8:00 PM ET
- Accepted
- Jul 24, 5:02 PM ET
- Size
- 23.7 KB