Sasse Benjamin E 4

What Happened

• Benjamin E. Sasse, a director of Strategic Education, received two restricted stock awards on April 22, 2026 totaling 2,393 shares.
• One award was for 1,436 shares reported at $0.00. A second award was for 957 shares reported at $83.62 per share, valued at $80,024; that award was issued in lieu of an $80,000 board cash retainer.
• These were grants/awards (transaction code A), not open-market purchases or sales.

Key Details

• Transaction date: April 22, 2026. Prices reported: $0.00 (1,436 shares) and $83.62 (957 shares; $80,024 total).
• Shares owned after the transaction: not disclosed in the Form 4 filing.
• Footnotes: F1 — the 1,436-share award is restricted stock that vests in three equal annual installments beginning April 22, 2027. F2 — the 957-share award was issued in lieu of $80,000 cash retainer and vests in three equal annual installments beginning April 22, 2027.
• Filing: Form 4 was filed on April 24, 2026 for an April 22 transaction (appears to be filed within the typical 2-business-day window).

Context

• These are restricted stock grants to a board member as compensation; they vest over time and are not immediate open-market purchases or sales, so they reflect compensation rather than an immediate vote of confidence through buying.
• For retail investors, awards to directors are routine compensation and should be considered alongside other insider trades and company fundamentals.