American Public Education (APEI) SVP Karmela Gaffney Receives Award

What Happened Karmela Gaffney, Senior Vice President and Chief Marketing Officer of American Public Education, received a performance-based restricted stock unit (PSU) award that resulted in the acquisition of 14,425 shares on 2026-03-10 (reported as $0 acquisition). To satisfy tax-withholding obligations on the vested PSUs, 1,469 shares were surrendered/withheld at $45.51 per share, generating $66,854 in tax withholding. Net to the insider from this vesting event was 12,956 shares (14,425 granted minus 1,469 withheld). This was an award/vesting event, not an open-market sale or purchase.

Key Details

• Transaction dates: Grant/vesting and tax withholding both reported for 2026-03-10; Form 4 filed 2026-03-12 (timely).
• Award details: 14,425 PSUs granted/acquired (code A), reported acquisition price $0.
• Tax withholding: 1,469 shares withheld (code F) at $45.51/share = $66,854.
• Net shares received from this vesting event: 12,956 (14,425 − 1,469).
• Shares owned after transaction: Not stated in the filing.
• Footnotes: F1 — PSUs are performance-based under the 2017 Omnibus Incentive Plan and reflect FY2025 performance; award vests in three roughly equal installments (Mar 10, 2026; Feb 4, 2027; Feb 4, 2028). F2 — issuer withheld shares to satisfy tax withholding.

Context PSUs are a form of compensation that vests based on company performance; the withholding of shares to cover taxes is a routine administrative action and not a market sale. This filing documents a compensation vesting event rather than a directional buy or sell signal by the insider.