Nichols Victor K 4

4 · Zovio Inc · Filed Mar 31, 2022

Form 4

Period: 2022-03-29

Director

Transactions

Exercise/Conversion
Common Stock
2022-03-29+16,410→ 71,801 total
Award
Restricted Stock Unit
2022-03-29+18,890→ 18,890 total
→ Common Stock (18,890 underlying)
Exercise/Conversion
Restricted Stock Unit
2022-03-29−16,410→ 0 total
→ Common Stock (16,410 underlying)
Award
Restricted Stock Unit
2022-03-29+122,024→ 122,024 total
→ Common Stock (122,024 underlying)

Footnotes (5)

[F1]On March 29, 2022, 16,410 of the reporting person's restricted stock units were settled for an equal number of shares of the issuer's common stock.
[F2]Each restricted stock unit represents a contingent right to receive one share of the issuer's common stock.
[F3]Subject to the reporting person's continuing service, 100% of the restricted stock units shall vest on March 29, 2022.
[F4]Subject to the reporting person's continuing service, 100% of the restricted stock units shall vest on March 29, 2023.
[F5]Subject to the reporting person's continuing service, 100% of the restricted stock units ("RSUs") shall vest on March 29, 2023. If the reporting person ceases to provide service for any reason other than Cause (as defined in the issuer's Amended and Restated 2009 Stock Incentive Plan, as amended) prior to March 29, 2023, then the RSUs vested shall be determined by multiplying the total number of RSUs granted by the Pro-Ration Fraction (rounding down to the nearest whole share). "Pro-Ration Fraction" shall mean a fraction: (a) the numerator of which is the number of days that have elapsed between the January 1, 2022 through the date on which the reporting person ceases to provide service, for any reason other than Cause, and (b) the denominator of which is 365.

Documents

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