APEI President Nuno S. Fernandes Exercises Options and Sells Shares

What Happened

• Nuno S. Fernandes, President of APUS (American Public Education, Inc. — ticker APEI), exercised 8,800 stock options at $10.66 per share (total exercise cost $93,808) on 2026-08-12 (transaction code M) and immediately sold the 8,800 shares in an open-market sale at $45.13 per share (total proceeds $397,144) the same day (transaction code S). The derivative line reporting disposition at $0 reflects the option conversion on exercise.
• The sale produced approximately $397,144 in gross proceeds and, after subtracting the exercise cost of $93,808, resulted in about $303,336 in pre-tax proceeds before commissions and withholding.

Key Details

• Transaction date: 2026-08-12
• Exercise: 8,800 shares at $10.66 each — total cost $93,808 (M = option exercise)
• Sale: 8,800 shares at $45.13 each — total proceeds $397,144 (S = sale)
• Footnote: All options relating to these underlying shares have vested and were exercisable as of the filing date (F1).
• Shares owned after transaction: Not specified in the provided filing details.
• Filing timeliness: No late filing indicator noted in the provided data.

Context

• This was a cashless-style transaction: options were exercised and the resulting shares were sold the same day, a common way insiders realize option value and cover exercise/tax costs. Such sales are often routine and do not necessarily indicate a change in insider sentiment.
• Transaction codes: M = option exercise/and conversion of derivative; S = sale of shares.