Arnauld Cheri St. 4
4 · ASPEN GROUP, INC. · Filed Sep 2, 2020
Insider Transaction Report
Form 4
Arnauld Cheri St.
Chief Academic Officer
Transactions
- Exercise/Conversion
Common Stock
2020-08-31+7,500→ 30,721 total - Tax Payment
Common Stock
2020-09-02−8,325→ 37,816 total - Exercise/Conversion
Restricted Stock Units
2020-09-02−18,750→ 48,750 total→ Common Stock (18,750 underlying) - Tax Payment
Common Stock
2020-08-31−3,330→ 27,391 total - Exercise/Conversion
Restricted Stock Units
2020-08-31−7,500→ 67,500 total→ Common Stock (7,500 underlying) - Exercise/Conversion
Common Stock
2020-09-02+18,750→ 46,141 total
Footnotes (4)
- [F1]Represents shares of common stock to be issued upon the vesting of restricted stock units ("RSUs") which vest in four years, subject to accelerated vesting upon the stock price closing at certain higher levels. The first target price was met as of August 31, 2020, and the second target price was met on September 2, 2020. See the Form 4 filed on February 5, 2020 for further details on the vesting target prices.
- [F2]The shares were surrendered upon vesting to pay the Reporting Person's estimated applicable federal, state and local income taxes, social security taxes and the additional Medicare surtax. The transactions were exempt from Section 16(b) under the Securities Exchange Act of 1934 by virtue of Rule 16b-3 promulgated thereunder as they were pre-approved by both the board of directors and the compensation committee of the board of directors of the Issuer.
- [F3]Each RSU represents a contingent right to receive one share of the Issuer's common stock.
- [F4]The RSUs were granted on February 4, 2020 and one-half will fully vest subject to the accelerated vesting on February 4, 2024.