APOLLO GROUP INC 4
4 · APOLLO GROUP INC · Filed Aug 31, 2004
Insider Transaction Report
Form 4
APOLLO GROUP INCUOPX
GONZALES KENDA B
Chief Financial Officer
Transactions
- Other
Non-Qualified Stock Option (right to buy)
2004-08-27−33,333→ 0 totalExercise: $19.00From: 2002-08-31Exp: 2011-09-21→ University of Phoenix Online Common Stock (33,333 underlying) - Other
Non-Qualified Stock Option (right to buy)
2004-08-27−43,333→ 0 totalExercise: $7.00From: 2002-08-31Exp: 2010-09-27→ University of Phoenix Online Common Stock (43,333 underlying)
Footnotes (4)
- [F1]On August 6, 2004, the Board of Directors ("Board") of Apollo Group, Inc. ("Apollo") exercised its right under Apollo's Amended and Restated Articles of Incorporation to convert all outstanding shares of University of Phoenix Online common stock ("UOPX Stock") to shares of Apollo Education Group Class A common stock ("APOL Stock"). The Board set August 27, 2004, as the effective date for the conversion ("Conversion").
- [F2]In connection with the Conversion, each outstanding option of UOPX Stock was converted into options of APOL Stock based on the ratio of the closing stock price of APOL Stock and UOPX Stock on August 12, 2004.
- [F3]25% of the shares covered by this option shall vest on each of the following dates: 8/31/02, 8/31/03, 8/31/04 and 8/31/05. The vesting shall accelerate if certain earnings per share goals are achieved. On February 28, 2002, 100% of the option became vested because the earnings per share goal was achieved.
- [F4]25% of the shares covered by this option shall vest on each of the following dates: 8/31/02, 8/31/03, 8/31/04 and 8/31/05. The vesting shall accelerate if certain earnings per share goals are achieved. As of 8/31/03, these goals were achieved, therefore, the options covered by this grant are 100% vested.