Devine Daniel J. 4
4 · Bridgepoint Education Inc · Filed Dec 21, 2012
Insider Transaction Report
Form 4
Devine Daniel J.
Chief Financial Officer
Transactions
- Disposition to Issuer
Common Stock
2012-12-19$10.57/sh−3,206$33,887→ 83,306 total
Footnotes (1)
- [F1]The share repurchase reported on Table I (indicated by transaction code D) reflects shares repurchased by the issuer. Previously, the reporting person exercised stock options pursuant to a net exercise program adopted by the issuer's board of directors that allowed for exercise of the options prior to their expiration. Upon such exercise of an option pursuant to the program, the issuer retained shares sufficient in value to cover the aggregate option exercise price and applicable withholding taxes. No shares were sold into the market in connection with the option exercises pursuant to the net issuance program. In this report, the issuer is repurchasing from the reporting person a number of shares sufficient in value to cover the additional state taxes relating to the reporting person's participation in the net issuance program that will be imposed retroactively due to the passage of Proposition 30 by voters in the State of California.