Arnold Mark L. 4

What Happened

• Mark L. Arnold, President of Rasmussen and an executive at American Public Education, received a grant of 10,492 performance-based restricted stock units (PSUs) on March 10, 2026. The PSUs were issued at $0.00 (award/vesting), and the award reflects 2025 performance results.
• To satisfy tax withholding on the vesting, 1,067 shares were withheld/disposed at an attributed value of $45.51 per share, equal to approximately $48,559. The award vests in three approximately equal installments: March 10, 2026; February 4, 2027; and February 4, 2028.

Key Details

• Transaction dates: March 10, 2026 (award and withholding); Form 4 filed March 12, 2026 (timely within 2 business days).
• Award: 10,492 PSUs acquired at $0.00 per share (code A).
• Withholding: 1,067 shares withheld/disposed to cover tax obligations at $45.51 each, total ~$48,559 (code F).
• Shares owned after transaction: Not specified in the filing.
• Footnotes: F1—PSUs are performance-based under the 2017 Omnibus Incentive Plan and tied to adjusted EPS and revenue for fiscal 2025; F2—issuer withheld shares to satisfy tax withholding on PSU vesting.

Context

• This was an equity compensation vesting event, not an open-market purchase or sale. The withheld shares are a routine tax-withholding action (not a market sell signal).
• Remaining PSU installments vest on 2027-02-04 and 2028-02-04, subject to plan terms and continued service.