CAREER EDUCATION CORP 4
4 · CAREER EDUCATION CORP · Filed Feb 13, 2015
Insider Transaction Report
Form 4
STEFFEY SCOTT W
DirectorCEO & President
Transactions
- Disposition to Issuer
Common Stock
2015-02-11−110,092→ 41,000 total - Disposition to Issuer
Non-Qualified Stock Option (right to buy)
2015-02-11−450,000→ 0 totalExercise: $2.20Exp: 2023-04-08→ Common Stock (450,000 underlying) - Disposition to Issuer
Non-Qualified Stock Option (right to buy)
2015-02-11−300,252→ 0 totalExercise: $6.81Exp: 2024-03-13→ Common Stock (300,252 underlying) - Disposition to Issuer
Cash-Settled RSU
2015-02-11−187,500→ 0 totalExp: 2017-03-14→ Common Stock (187,500 underlying) - Disposition to Issuer
Cash-Settled RSU
2015-02-11−78,409→ 0 totalExp: 2017-03-14→ Common Stock (78,409 underlying) - Disposition to Issuer
Stock Appreciation Right
2015-02-11−50,000→ 0 totalExercise: $2.20Exp: 2023-04-08→ Common Stock (50,000 underlying) - Disposition to Issuer
Stock Appreciation Right
2015-02-11−144,628→ 0 totalExercise: $2.20Exp: 2023-04-08→ Common Stock (144,628 underlying)
Footnotes (4)
- [F1]Restricted stock units granted pursuant to the Career Education Corporation 2008 Incentive Compensation Plan, with each restricted stock unit representing a contingent right to receive one share of common stock.
- [F2]Securities forfeited in connection with Reporting Person's separation from the Issuer. Reporting Person and Issuer entered into a Separation and Release Agreement effective as of February 12, 2015 pursuant to which Issuer will pay Reporting Person $2.5 million in consideration for the cancellation of Reporting Person's outstanding equity and incentive awards, vested and unvested, including these securities, and taking into account other items.
- [F3]Not applicable due to forfeiture.
- [F4]Each cash-settled RSU is the economic equivalent of one share of Issuer's common stock.