GROSS PATRICK W 4

What Happened
Patrick W. Gross, a director of PERDOCEO Education Corp (PRDO), exercised options/conversion rights for 21,129 shares on 2026-05-12 (acquisition at $5.96 per share; total cost $125,929). On the same date he sold 3,647 shares in an open-market transaction at $34.98 per share for proceeds of $127,572. The filing also shows a derivative disposition of 21,129 units at $0 reflecting the conversion/exercise of the derivative.

Key Details

• Transaction date: 2026-05-12 (Form 4 filed 2026-05-13; appears timely).
• Options/derivative exercised: 21,129 shares at $5.96 (total $125,929).
• Shares sold: 3,647 shares at $34.98 (proceeds $127,572).
• Footnote F1: Shares sold were used to cover the exercise price and withholding taxes (cashless/tax-withholding sale).
• Footnote F2: Reporting person’s holdings include 14,619 vested deferred stock units (DSUs) and 5,155 unvested restricted stock units (RSUs) (each unit converts to one share under plan terms).
• Shares owned after transaction: not stated in the provided excerpt of the filing.

Context

• This is a routine cashless exercise / sell-to-cover: options or units were converted to shares and a portion was sold immediately to satisfy exercise costs and tax withholding.
• Exercises followed by partial sales are common and do not necessarily imply a change in insider sentiment; they often reflect tax or liquidity needs.