Spohn Christopher L. 4
4 · Zovio Inc · Filed May 3, 2022
Insider Transaction Report
Form 4
Zovio IncZVO
Spohn Christopher L.
SVP & Chief Admissions Officer
Transactions
- Exercise/Conversion
Common Stock
2022-05-02+27,473→ 129,574 total - Exercise/Conversion
Restricted Stock Unit
2022-05-02−27,473→ 54,944 total→ Common Stock (27,473 underlying) - Tax Payment
Common Stock
2022-05-02$0.73/sh−6,834$4,987→ 122,740 total
Footnotes (3)
- [F1]On April 30, 2022, 27,473 of the reporting person's restricted stock units vested. 27,473 of the reporting person's restricted stock units were settled for an equal number of shares of the issuer's common stock on May 2, 2022, the first business day following the closing price of the issuer's common stock on April 29, 2022, which was the settlement price used to calculate the shares withheld.
- [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, the restricted stock units vest as follows: (i) 25% of the restricted stock units vest on the first anniversary of the vesting commencement date, and (ii) an additional 25% of the restricted stock units shall vest on each subsequent anniversary of the vesting commencement date. The vesting commencement date for the restricted stock units is April 30, 2020.