Form 4: Perdoceo Education Corp: Executive Julia A. Leeman Reports Stock Transactions

Julia A. Leeman, SVP Campus Operations at Perdoceo Education Corp, reports the disposition of shares to cover tax obligations and the vesting of performance-based restricted stock units.

Summary

• On March 14, 2025, Julia A. Leeman, SVP Campus Operations at Perdoceo Education Corp, reported transactions involving the company's common stock.
• Leeman disposed of shares to satisfy tax withholding obligations related to the vesting of restricted stock units at a price of $24.6 per share.
• A total of 454, 418, 337 and 2,987 shares were disposed of to cover these obligations.
• Additionally, 5,140 performance-based restricted stock units (PSUs) vested, resulting in the acquisition of these shares.
• The PSUs vested at 200% of the target due to the issuer's achievement of certain performance criteria.
• Following these transactions, Leeman beneficially owns 34,677 shares of common stock, which includes 18,362 unvested restricted stock units.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The vesting of PSUs at 200% suggests strong performance, but the disposal of shares for tax obligations is a routine event.

Positives

• The vesting of performance-based restricted stock units at 200% suggests the company achieved its performance objectives.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. The vesting of PSUs is a common incentive mechanism to align management's interests with those of shareholders.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units (RSUs) and performance-based stock units (PSUs) to incentivize performance and align executive interests with shareholder value.
• The vesting of PSUs at 200% of the target indicates strong performance against pre-defined metrics, which is a positive signal.
• Companies like Apollo Education Group (formerly a competitor of Perdoceo) also used similar equity-based compensation plans.
• The specific performance metrics and vesting schedules vary across companies and industries, but the underlying principle of linking executive compensation to company performance is a common practice.

Stakeholder Impact

• The vesting of PSUs and subsequent stock transactions may have a minor impact on shareholders due to the increased number of shares in the market.
• The vesting of PSUs is a positive sign for employees, as it indicates the company is achieving its performance goals.

Key Dates