Fernandes Nuno S. 4

What Happened
Nuno S. Fernandes, President of American Public Education, reported a sale of 4,500 common shares on 2026-05-13. The shares were reported as sold at $53.34 each, for a total gross value of approximately $240,030. The filing classifies the transaction as an open-market or private sale (code S), which is a disposition of shares rather than a purchase.

Key Details

• Transaction date: 2026-05-13; Price per share: $53.34; Total value: ~$240,030.
• Report filed with the SEC on 2026-05-15 (appears timely—filed within two business days of the transaction).
• Shares owned after the transaction: not specified in the provided filing details.
• No footnotes, 10b5-1 plan, tax-withholding, or other special provisions were disclosed in the provided information.
• Transaction code: S = Sale (disposition of shares).

Context
Insider sales can be routine (tax, diversification, liquidity) and do not necessarily signal a change in view on the company; purchases tend to be a stronger bullish signal. This report documents a straightforward sale by an executive; no options were exercised and no awards or gifts were involved.