CEO Angela Selden was paid $5,063,608 in fiscal year 2025, ↑ up 74.0% from fiscal year 2024, the 25th percentile of its disclosed peer group (SEC filing 0001140361-26-013996 ↗): executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.
$5,063,608 ↑ Angela Selden total, FY2025 | 25th CEO pay percentile vs peers | 145:1 CEO-to-median pay ratio | 88.95% Say-on-pay support, latest vote |
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| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Angela Selden | $838,846 | $0 | $3,103,874 | $0 | $1,045,315 | $0 | $75,573 | $5,063,608 |
| President and Chief Executive Officer | ||||||||
| Richard Sunderland Jr. | 493,351 | 0 | 620,775 | 0 | 319,555 | 0 | 45,524 | 1,479,205 |
| Former Executive Vice President, Chief Financial Officer | ||||||||
| Nuno Fernandes | 510,962 | 0 | 434,556 | 0 | 340,398 | 0 | 33,410 | 1,319,325 |
| President, American Public University System | ||||||||
| Mark Arnold | 411,923 | 0 | 331,100 | 0 | 454,222 | 0 | 20,404 | 1,217,650 |
| President, Rasmussen University | ||||||||
| Thomas Beckett | 418,884 | 0 | 455,247 | 0 | 273,877 | 0 | 32,613 | 1,180,621 |
| Senior Vice President and General Counsel | ||||||||
| Edward Codispoti | 91,731 | 70,000 | 318,057 | 0 | 0 | 0 | 2,442 | 482,230 |
| Executive Vice President, Chief Financial Officer | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Angela Selden | $5,063,608 | $2,909,301 | $4,176,075 | ↑ +2,154,307 |
| Richard Sunderland Jr. | 1,479,205 | — | — | — |
| Nuno Fernandes | 1,319,325 | 1,104,963 | 1,314,877 | ↑ +214,362 |
| Mark Arnold | 1,217,650 | — | — | — |
| Thomas Beckett | 1,180,621 | 935,585 | 847,161 | ↑ +245,036 |
| Edward Codispoti | 482,230 | — | — | — |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
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Each company listed discloses APEI in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named APEI in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
One page per officer: the same table above, read for one person at a time — his own figure and every fiscal year the register holds.
| Executive | Role | FY2025 total |
|---|---|---|
| Angela Selden | CEO | $5,063,608 |
| Richard Sunderland, Jr. | CFO | — |
| Mark Arnold | President | $1,217,650 |
| Nuno Fernandes | President | $1,319,325 |
| Thomas Beckett | General Counsel | $1,180,621 |
| Edward Codispoti | CFO | $482,230 |
One page per director: the seat, the committees and the fee table, read for one person at a time.
| Director | Role | FY2025 total |
|---|---|---|
| Anna M. Fabrega | Independent Director | $197,257 |
| Daniel S. Pianko | Chair of the Board | $296,510 |
| Eric C. Andersen | Former director (through FY2025) | $52,413 |
| Granetta B. Blevins | Independent Director | $211,547 |
| James Kenigsberg | Former director (through FY2025) | $200,685 |
| Michael D. Braner | Independent Director | $189,971 |
| Richard J. Statuto | Independent Director | $202,243 |
| William G. Robinson | Former director (through FY2025) | $62,110 |
Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.
| Insider | Role | Transaction date | Code | Shares | Price | Value | Security | Source |
|---|---|---|---|---|---|---|---|---|
| Nuno Fernandes | President, APUS | 2026-05-13 | D | 4,500 | $53 | $240,030 | Common | Form 4 ↗ |
| Daniel S. Pianko | Director | 2026-05-22 | A | 2,135 | 0 | 0 | Common | Form 4 ↗ |
| Anna M. Fabrega | Director | 2026-05-22 | A | 2,135 | 0 | 0 | Common | Form 4 ↗ |
| Richard J. Statuto | Director | 2026-05-22 | A | 2,135 | 0 | 0 | Common | Form 4 ↗ |
| James Kenigsberg | Int Chief Inno & Tech Officer | 2026-05-22 | D | 1,286 | 52 | 66,229 | Common | Form 4 ↗ |
| Granetta B. Blevins | Director | 2026-05-22 | A | 2,135 | 0 | 0 | Common | Form 4 ↗ |
| Michael D. Braner | Director | 2026-05-22 | A | 2,135 | 0 | 0 | Common, indirect | Form 4 ↗ |
| Thomas Beckett | SVP, General Counsel | 2026-06-15 | D | 200 | 53 | 10,601 | Common | Form 4 ↗ |
| Thomas Beckett | SVP, General Counsel | 2026-06-15 | D | 2,587 | 52 | 135,669 | Common | Form 4 ↗ |
| Thomas Beckett | SVP, General Counsel | 2026-06-15 | D | 5,213 | 51 | 267,889 | Common | Form 4 ↗ |
| Thomas Beckett | SVP, General Counsel | 2026-06-22 | D | 2,000 | 54 | 108,000 | Common | Form 4 ↗ |
| Daniel S. Pianko | Director | 2026-07-01 | A | 1,107 | 36 | 40,018 | Common | Form 4 ↗ |
| James Kenigsberg | Chief Inno & Tech Officer | 2026-08-03 | A | 7,573 | 0 | 0 | Common | Form 4 ↗ |
| James Kenigsberg | Chief Inno & Tech Officer | 2026-08-04 | D | 2,133 | 53 | 113,945 | Common | Form 4 ↗ |
| James Kenigsberg | Chief Inno & Tech Officer | 2026-08-12 | D | 1,313 | 46 | 60,030 | Common | Form 4 ↗ |
| Nuno Fernandes | President, APUS | 2026-08-12 | D | 8,800 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Nuno Fernandes | President, APUS | 2026-08-12 | D | 8,800 | 45 | 397,144 | Common | Form 4 ↗ |
| Nuno Fernandes | President, APUS | 2026-08-12 | A | 8,800 | 11 | 93,808 | Common | Form 4 ↗ |
| Daniel S. Pianko | Director | 2026-10-01 | A | 1,106 | 36 | 39,982 | Common | Form 4 ↗ |
Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Edward Codispoti | RSU | 2025-10-20 | — | — | 8,477 | — | $318,057 |
| Angela Selden | PSU | 2025-02-04 | 17,664 | 70,655 | — | 141,310 | 1,553,703 |
| Nuno Fernandes | RSU | 2025-01-30 | — | — | 9,892 | — | 217,030 |
| Angela Selden | RSU | 2025-01-30 | — | — | 70,655 | — | 1,550,171 |
| Thomas Beckett | RSU | 2025-01-30 | — | — | 10,363 | — | 227,364 |
| Thomas Beckett | PSU | 2025-02-04 | 2,591 | 10,363 | — | 20,726 | 227,882 |
| Richard Sunderland Jr. | RSU | 2025-01-30 | — | — | 14,131 | — | 310,034 |
| Nuno Fernandes | PSU | 2025-02-04 | 2,473 | 9,892 | — | 19,784 | 217,525 |
| Richard Sunderland Jr. | PSU | 2025-02-04 | 3,533 | 14,131 | — | 28,262 | 310,741 |
| Mark Arnold | RSU | 2025-01-30 | — | — | 7,537 | — | 165,362 |
| Mark Arnold | PSU | 2025-02-04 | 1,884 | 7,537 | — | 15,074 | 165,739 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Edward Codispoti | $318,057 | $0 | $0 | 0.0% |
| Angela Selden | 1,550,171 | 1,553,703 | 0 | 50.1% |
| Nuno Fernandes | 217,030 | 217,525 | 0 | 50.1% |
| Thomas Beckett | 227,364 | 227,882 | 0 | 50.1% |
| Richard Sunderland Jr. | 310,034 | 310,741 | 0 | 50.1% |
| Mark Arnold | 165,362 | 165,739 | 0 | 50.1% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Edward Codispoti | RSU | 8,477 | — | $320,431 |
| Nuno Fernandes | RSU | 61,660 | — | 2,330,748 |
| Angela Selden | RSU | 334,807 | — | 12,655,705 |
| Thomas Beckett | RSU | 56,529 | — | 2,136,796 |
| Richard Sunderland Jr. | RSU | 89,396 | — | 3,379,169 |
| Mark Arnold | RSU | 18,029 | — | 681,496 |
Our compensation program is designed to attract, incentivize, retain, and reward talent while holding executives accountable for business performance. We focus on variable compensation tied to corporate goals, specifically earnings per share, revenue, and Adjusted EBITDA, and monitor external market practices to ensure competitiveness.
| CEO STI target (% of salary) | 95% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Willis Towers Watson (WTW) |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-05-22 | 13,019,893 | 188,783 | 1,428,993 | 88.95% | Passed |
| 2025 | 2025-05-23 | 12,943,411 | 719,989 | 194,884 | 93.4% | Passed |
| 2024 | 2024-05-17 | 11,339,447 | 933,320 | 52,321 | 92% | Passed |
| 2023 | 2023-05-19 | 10,787,979 | 1,229,713 | 1,155,733 | 81.89% | Passed |
| 2022 | 2022-05-20 | 16,672,313 | 160,334 | 60,695 | 98.69% | Passed |
| 2021 | 2021-05-21 | 13,418,770 | 2,437,259 | 32,906 | 84.45% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2026 | 2026-05-22 | 88.95%a |
| 2025 | 2025-05-23 | 93.4%b |
| 2024 | 2024-05-17 | 92%c |
a. Approved under the standard stated in the filing — “Broker non-votes are not taken into account in determining the outcome of these proposals, and abstentions will have the effect of a vote against each of these proposals.”.
b. Approved under the standard stated in the filing — “Broker non-votes are not taken into account in determining the outcome of these proposals, and abstentions will have the effect of a vote against each of these proposals.”.
c. Approved under the standard stated in the filing — “Broker non-votes are not taken into account in determining the outcome of these proposals, and abstentions will have the effect of a vote against each of these proposals.”.
Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
| Ratio (CEO : median employee) | 145 : 1 |
|---|---|
| CEO total compensation | $5,063,608 |
| Median employee compensation | $34,846 |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Daniel S. PiankoIndependent · Board Chair | $186,538 | $109,971 | — | — | — | $296,510 |
| Granetta B. BlevinsIndependent · Audit (Chair) | 101,576 | 109,971 | — | — | — | 211,547 |
| Richard J. StatutoIndependent · Management Development & Compensation · Newly elected | 92,272 | 109,971 | — | — | — | 202,243 |
| James KenigsbergIndependent · Departed during FY | 90,714 | 109,971 | — | — | — | 200,685 |
| Anna M. FabregaIndependent · Management Development & Compensation (Chair) · Audit | 87,286 | 109,971 | — | — | — | 197,257 |
| Michael D. BranerIndependent · Audit · Management Development & Compensation | 80,000 | 109,971 | — | — | — | 189,971 |
| William G. RobinsonIndependent · Departed during FY | 62,110 | 0 | — | — | — | 62,110 |
| Eric C. AndersenIndependent · Departed during FY | 0 | 52,413 | — | — | — | 52,413 |
| Angela K. SeldenEmployee director | — | — | — | — | — | 0 |
| Annual cash retainer | $80,000 |
|---|---|
| Annual equity retainer | $110,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 15,000 / 10,000 / 8,000 |
| Stock ownership guideline | $240,000 |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $700,496 |
| Equity awards (grant-date value) | $712,239 |
| All other compensation | $0 |
| Total cost of the board | $1,412,735 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Of the companies American Public Education names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.
Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including American Public Education.
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Stride, Inc. | 2025 | James Rhyu | $1,000,000 | $16,860,903 | $0 | $3,619,426 | $21,496,095 |
| 2 | Covista Inc. | 2026 | Stephen Beard | 1,000,000 | 15,999,916 | 0 | 1,810,078 | 19,016,418 |
| 3 | Laureate Education, Inc. | 2025 | Eilif Serck-Hanssen | 1,000,000 | 8,343,934 | 0 | 1,606,800 | 10,975,343 |
| 4 | Strategic Education, Inc. | 2025 | Karl McDonnell | 1,018,009 | 3,250,000 | 0 | 1,393,558 | 5,672,067 |
| 5 | Perdoceo Education Corporation | 2025 | Todd Nelson | 835,192 | 2,287,577 | 0 | 2,125,000 | 5,473,723 |
| 6 | Universal Technical Institute, Inc. | 2025 | Jerome Grant | 723,077 | 3,506,070 | 0 | 874,923 | 5,149,264 |
| 7 | American Public Education | 2025 | Angela Selden | 838,846 | 3,103,874 | 0 | 1,045,315 | 5,063,608 |
| 8 | Lincoln Educational Services Corporation | 2025 | Scott Shaw | 650,000 | 2,200,000 | 0 | 1,134,688 | 3,999,717 |
| 9 | Grand Canyon Education, Inc. | 2025 | Brian Mueller | 321,000 | 1,211,668 | 0 | 481,500 | 2,020,867 |
Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| American Public Education | not disclosed | RSU 50 · PSU 50 | No | Willis Towers Watson (WTW) |
| Covista Inc. | not disclosed | PSU 70 · RSU 30 | not disclosed | Aon |
| Grand Canyon Education, Inc. | 150% | RSU 100 | not disclosed | Mercer |
| Laureate Education, Inc. | not disclosed | not disclosed | not disclosed | Meridian Compensation Partners, LLC |
| Lincoln Educational Services Corporation | 174.6% | RSU 50 · PSU 50 | No | Grant Thornton Advisors LLC |
| Perdoceo Education Corporation | not disclosed | RSU 50 · PSU 50 | not disclosed | Pay Governance |
| Strategic Education, Inc. | 108.8% | RSU 100 | not disclosed | Equilar, Inc. |
| Stride, Inc. | 181% | PSU 60 · RSA 40 | No | Compensia |
| Universal Technical Institute, Inc. | 121% | not disclosed | No | Pearl Meyer |
Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Angela Selden | DEF 14A | 2026-04-09 | 0001140361-26-013996 | Section “Summary Compensation Table” · page 52. As printed: 5,063,608. Filing ↗machine: r2 · c22 · span 1130437–1130447 |
| 2 | Section 01, Richard Sunderland Jr. | DEF 14A | 2026-04-09 | 0001140361-26-013996 | Section “Summary Compensation Table” · page 52. As printed: 1,479,205. Filing ↗machine: r13 · c22 · span 1177082–1177092 |
| 3 | Section 01, Nuno Fernandes | DEF 14A | 2026-04-09 | 0001140361-26-013996 | Section “Summary Compensation Table” · page 52. As printed: 1,319,325. Filing ↗machine: r6 · c22 · span 1147650–1147660 |
| 4 | Section 01, Mark Arnold | DEF 14A | 2026-04-09 | 0001140361-26-013996 | Section “Summary Compensation Table” · page 52. As printed: 1,217,650. Filing ↗machine: r9 · c22 · span 1159839–1159849 |
| 5 | Section 01, Thomas Beckett | DEF 14A | 2026-04-09 | 0001140361-26-013996 | Section “Summary Compensation Table” · page 52. As printed: 1,180,621. Filing ↗machine: r10 · c22 · span 1164712–1164722 |
| 6 | Section 01, Edward Codispoti | DEF 14A | 2026-04-09 | 0001140361-26-013996 | Section “Summary Compensation Table” · page 52. As printed: 482,230. Filing ↗ |
| 7 | Section 03, Edward Codispoti RSU | DEF 14A | 2026-04-09 | 0001140361-26-013996 | Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t150 · r6 · c28 · span 1239623–1239628 |
| 8 | Section 03, Angela Selden PSU | DEF 14A | 2026-04-09 | 0001140361-26-013996 | Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t131 · r3 · c13 · span 1013603–1013609 |
| 9 | Section 03, Nuno Fernandes RSU | DEF 14A | 2026-04-09 | 0001140361-26-013996 | Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t131 · r4 · c13 · span 1016808–1016813 |
| 10 | Section 03, Angela Selden RSU | DEF 14A | 2026-04-09 | 0001140361-26-013996 | Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t131 · r3 · c13 · span 1013603–1013609 |
| 11 | Section 03, Thomas Beckett RSU | DEF 14A | 2026-04-09 | 0001140361-26-013996 | Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t131 · r6 · c13 · span 1023211–1023217 |
| 12 | Section 03, Thomas Beckett PSU | DEF 14A | 2026-04-09 | 0001140361-26-013996 | Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t131 · r6 · c13 · span 1023211–1023217 |
| 13 | Section 03, Richard Sunderland Jr. RSU | DEF 14A | 2026-04-09 | 0001140361-26-013996 | Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t150 · r16 · c31 · span 1294527–1294534 |
| 14 | Section 03, Nuno Fernandes PSU | DEF 14A | 2026-04-09 | 0001140361-26-013996 | Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t131 · r4 · c13 · span 1016808–1016813 |
| 15 | Section 03, Richard Sunderland Jr. PSU | DEF 14A | 2026-04-09 | 0001140361-26-013996 | Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t146 · r6 · c4 · span 1199360–1199367 |
| 16 | Section 03, Mark Arnold RSU | DEF 14A | 2026-04-09 | 0001140361-26-013996 | Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t131 · r5 · c13 · span 1020008–1020013 |
| 17 | Section 03, Mark Arnold PSU | DEF 14A | 2026-04-09 | 0001140361-26-013996 | Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t131 · r5 · c13 · span 1020008–1020013 |
| 18 | Section 07, pay ratio | DEF 14A | 2026-04-09 | 0001140361-26-013996 | Section “CEO Pay Ratio”. As printed: 145 : 1. Filing ↗machine: span 1711173–1711176 |
| 19 | Section 08, Daniel S. Pianko | DEF 14A | 2026-04-09 | 0001140361-26-013996 | Section “Director Compensation”. As printed: 296,510. Filing ↗machine: span 582659–582838 |
| 20 | Section 08, Granetta B. Blevins | DEF 14A | 2026-04-09 | 0001140361-26-013996 | Section “Director Compensation”. As printed: 211,547. Filing ↗machine: span 574400–574622 |
| 21 | Section 08, Richard J. Statuto | DEF 14A | 2026-04-09 | 0001140361-26-013996 | Section “Director Compensation”. As printed: 202,243. Filing ↗machine: span 586785–586963 |
| 22 | Section 08, James Kenigsberg | DEF 14A | 2026-04-09 | 0001140361-26-013996 | Section “Director Compensation”. As printed: 200,685. Filing ↗machine: span 580775–580954 |
| 23 | Section 08, Anna M. Fabrega | DEF 14A | 2026-04-09 | 0001140361-26-013996 | Section “Director Compensation”. As printed: 197,257. Filing ↗machine: span 578565–578744 |
| 24 | Section 08, Michael D. Braner | DEF 14A | 2026-04-09 | 0001140361-26-013996 | Section “Director Compensation”. As printed: 189,971. Filing ↗machine: span 576640–576819 |
| 25 | Section 08, William G. Robinson | DEF 14A | 2026-04-09 | 0001140361-26-013996 | Section “Director Compensation”. As printed: 62,110. Filing ↗machine: span 583732–583953 |
| 26 | Section 08, Eric C. Andersen | DEF 14A | 2026-04-09 | 0001140361-26-013996 | Section “Director Compensation”. As printed: 52,413. Filing ↗machine: span 571879–572100 |
| 27 | Section 08, Angela K. Selden | DEF 14A | 2026-04-09 | 0001140361-26-013996 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 28 | Section 02, Nuno Fernandes 2026-05-13 | Form 4 | 2026-05-15 | 0001123292-26-000672 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 29 | Section 02, Daniel S. Pianko 2026-05-22 | Form 4 | 2026-05-26 | 0001123292-26-000737 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 30 | Section 02, Anna M. Fabrega 2026-05-22 | Form 4 | 2026-05-26 | 0001123292-26-000739 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 31 | Section 02, Richard J. Statuto 2026-05-22 | Form 4 | 2026-05-26 | 0001123292-26-000740 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 32 | Section 02, James Kenigsberg 2026-05-22 | Form 4 | 2026-05-26 | 0001123292-26-000741 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 33 | Section 02, Granetta B. Blevins 2026-05-22 | Form 4 | 2026-05-26 | 0001123292-26-000738 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 34 | Section 02, Michael D. Braner 2026-05-22 | Form 4 | 2026-05-27 | 0000921895-26-001485 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 35 | Section 02, Thomas Beckett 2026-06-15 | Form 4 | 2026-06-17 | 0001123292-26-000880 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 36 | Section 02, Thomas Beckett 2026-06-15 | Form 4 | 2026-06-17 | 0001123292-26-000880 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 37 | Section 02, Thomas Beckett 2026-06-15 | Form 4 | 2026-06-17 | 0001123292-26-000880 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 38 | Section 02, Thomas Beckett 2026-06-22 | Form 4 | 2026-06-23 | 0001123292-26-000931 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 39 | Section 02, Daniel S. Pianko 2026-07-01 | Form 4 | 2026-07-02 | 0001123292-26-000948 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 40 | Section 02, James Kenigsberg 2026-08-03 | Form 4 | 2026-08-05 | 0001123292-26-001052 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 41 | Section 02, James Kenigsberg 2026-08-04 | Form 4 | 2026-08-05 | 0001123292-26-001052 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 42 | Section 02, James Kenigsberg 2026-08-12 | Form 4 | 2026-08-13 | 0001123292-26-001108 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 43 | Section 02, Nuno Fernandes 2026-08-12 | Form 4 | 2026-08-13 | 0001123292-26-001109 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 44 | Section 02, Nuno Fernandes 2026-08-12 | Form 4 | 2026-08-13 | 0001123292-26-001109 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 45 | Section 02, Nuno Fernandes 2026-08-12 | Form 4 | 2026-08-13 | 0001123292-26-001109 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 46 | Section 02, Daniel S. Pianko 2026-10-01 | Form 4 | 2026-10-02 | 0001123292-26-001351 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 47 | Section 06, 2026 vote | Form 8-K | 2026-05-26 | 0001104659-26-066248 | Item 5.07 · say-on-pay result. As reported: 88.95% (votes for as printed: 13,019,893). Filing ↗ |
| 48 | Section 06, 2025 vote | Form 8-K | 2025-05-27 | 0001104659-25-052957 | Item 5.07 · say-on-pay result. As reported: 93.4% (votes for as printed: 12,943,411). Filing ↗ |
| 49 | Section 06, 2024 vote | Form 8-K | 2024-05-20 | 0001104659-24-063388 | Item 5.07 · say-on-pay result. As reported: 92% (votes for as printed: 11,339,447). Filing ↗ |
| 50 | Section 01 trend, Δ column (computed) | Computed | — | — | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 51 | Section 03b vehicle mix (computed) | Computed | — | — | RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio |
| 52 | Section 09b board cost (computed) | Computed | — | — | Cash 700,496 + equity 712,239 + all other 0 = 1,412,735, summed across the director compensation table rows.machine: formula: Σ = 1,412,735 |
| 53 | Stride, Inc., Section 10b CEO total | DEF 14A | 2025-10-24 | 0001140361-25-039264 | CEO total compensation as printed in Stride, Inc.'s own proxy. As printed: 21,496,095. Filing ↗machine: r2 · c22 · span 1185717–1185728 |
| 54 | Covista Inc., Section 10b CEO total | DEF 14A | 2026-10-02 | 0001104659-26-113316 | CEO total compensation as printed in Covista Inc.'s own proxy. As printed: 19,016,418. Filing ↗ |
| 55 | Laureate Education, Inc., Section 10b CEO total | DEF 14A | 2026-04-09 | 0001628280-26-024338 | CEO total compensation as printed in Laureate Education, Inc.'s own proxy. As printed: 10,975,343. Filing ↗machine: r4 · c24 · span 469288–469298 |
| 56 | Strategic Education, Inc., Section 10b CEO total | DEF 14A | 2026-03-11 | 0001104659-26-026380 | CEO total compensation as printed in Strategic Education, Inc.'s own proxy. As printed: 5,672,067. Filing ↗machine: span 569797–569806 |
| 57 | Perdoceo Education Corporation, Section 10b CEO total | DEF 14A | 2026-04-09 | 0001193125-26-149814 | CEO total compensation as printed in Perdoceo Education Corporation's own proxy. As printed: 5,473,723. Filing ↗machine: span 927815–927824 |
| 58 | Universal Technical Institute, Inc., Section 10b CEO total | DEF 14A | 2026-01-20 | 0001140361-26-001690 | CEO total compensation as printed in Universal Technical Institute, Inc.'s own proxy. As printed: 5,149,264. Filing ↗machine: r2 · c19 · span 904453–904462 |
| 59 | American Public Education (subject), Section 10b CEO total | DEF 14A | 2026-04-09 | 0001140361-26-013996 | CEO total compensation as printed in American Public Education's own proxy. As printed: 5,063,608. Filing ↗machine: r2 · c22 · span 1130437–1130447 |
| 60 | Lincoln Educational Services Corporation, Section 10b CEO total | DEF 14A | 2026-03-26 | 0001140361-26-011290 | CEO total compensation as printed in Lincoln Educational Services Corporation's own proxy. As printed: 3,999,717. Filing ↗machine: t95 · r2 · c19 · span 616298–616307 |
| 61 | Grand Canyon Education, Inc., Section 10b CEO total | DEF 14A | 2026-04-23 | 0001104659-26-047719 | CEO total compensation as printed in Grand Canyon Education, Inc.'s own proxy. As printed: 2,020,867. Filing ↗machine: span 873029–873038 |
| 62 | Section 10a, Stride, Inc. reciprocity | DEF 14A | — | 0001140361-25-039264 | Stride, Inc.'s most recent proxy was read; its disclosed peer group does not include American Public Education. Filing ↗ |
| 63 | Section 10a, Strategic Education, Inc. reciprocity | DEF 14A | — | 0001104659-26-026380 | Strategic Education, Inc.'s most recent proxy was read; its disclosed peer group does not include American Public Education. Filing ↗ |
| 64 | Section 10a, Perdoceo Education Corporation reciprocity | DEF 14A | — | 0001193125-26-149814 | Perdoceo Education Corporation names American Public Education in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 65 | Section 10a, Covista Inc. reciprocity | DEF 14A | — | 0001104659-26-113316 | Covista Inc. names American Public Education in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 66 | Section 10a, Laureate Education, Inc. reciprocity | DEF 14A | — | 0001628280-26-024338 | Laureate Education, Inc.'s most recent proxy was read; its disclosed peer group does not include American Public Education. Filing ↗ |
| 67 | Section 10a, Lincoln Educational Services Corporation reciprocity | DEF 14A | — | 0001140361-26-011290 | Lincoln Educational Services Corporation names American Public Education in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 68 | Section 10a, Universal Technical Institute, Inc. reciprocity | DEF 14A | — | 0001140361-26-001690 | Universal Technical Institute, Inc. names American Public Education in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
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