Kevin Royal - Mar 29, 2022 Form 4 Insider Report for Zovio Inc (ZVO)

Role
EVP, Chief Financial Officer
Signature
/s/ Diane L. Thompson, as Attorney-in-Fact
Stock symbol
ZVO
Transactions as of
Mar 29, 2022
Transactions value $
-$20,492
Form type
4
Date filed
3/31/2022, 08:39 PM
Previous filing
Jun 2, 2021
Next filing
Jun 2, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ZVO Common Stock Options Exercise $0 +59.7K +57.72% $0.00 163K Mar 29, 2022 Direct F1
transaction ZVO Common Stock Tax liability -$20.5K -24.5K -15% $0.84* 139K Mar 29, 2022 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ZVO Restricted Stock Unit Options Exercise $0 -15.9K -50% $0.00 15.9K Mar 29, 2022 Common Stock 15.9K Direct F2, F3
transaction ZVO Restricted Stock Unit Options Exercise $0 -23.4K -50% $0.00 23.4K Mar 29, 2022 Common Stock 23.4K Direct F2, F4
transaction ZVO Restricted Stock Unit Options Exercise $0 -20.3K -33.33% $0.00 40.7K Mar 29, 2022 Common Stock 20.3K Direct F2, F5
transaction ZVO Restricted Stock Unit Award $0 +70.2K $0.00 70.2K Mar 29, 2022 Common Stock 70.2K Direct F2, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On March 29, 2022, 59,668 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, 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 March 29, 2019.
F4 Subject to the reporting person's continuing service, the restricted stock units vest as follows: (i) 1/3rd of the restricted stock units vest on the first anniversary of the vesting commencement date, and (ii) an additional 1/3rd 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 March 29, 2020.
F5 Subject to the reporting person's continuing service, the restricted stock units vest as follows: (i) 1/3rd of the restricted stock units vest on the first anniversary of the vesting commencement date, and (ii) an additional 1/3rd 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 March 29, 2021.
F6 Subject to the reporting person's continuing service, the restricted stock units vest as follows: (i) 1/3rd of the restricted stock units vest on the first anniversary of the vesting commencement date, and (ii) an additional 1/3rd 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 March 29, 2022.