Form Type: 4

SEC EDGAR Link
Accession Number:0001209191-19-050480
Date:2019-09-20
Issuer: CAREER EDUCATION CORP (CECO)
Original Submission Date:

Reporting Person:

AYERS JEFFREY DAVID
CAREER EDUCATION CORPORATION
231 N. MARTINGALE ROAD SCHAUMBURG, IL 60173

Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
Title of SecurityTransaction Date2a. Deemed Execution Date Transaction CodeSharesAcquired or DisposedPrice per share 5. Amount of Securities Beneficially Owned Following Reported Transaction 6. Ownership Form Direct or IndirectNature of Indirect Ownership
COMMON STOCK 2019-09-20 M 19,325 a $7.33 219,100 direct
COMMON STOCK 2019-09-20 M 20,364 a $8.63 239,464 direct
COMMON STOCK 2019-09-20 S 39,689 d $17.15 199,775 direct
Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, convertible securities
Title of Derivative Security Conversion or Exercise Price of Derivative Security Transaction Date Deemed Execution Date Transaction Code Number of Derivative Securities Acquired (A) or Disposed of (D) Date ExercisableExpiration Date Title and Amount of Securities Underlying Derivative Security Price of Derivative Security Number of derivative Securities Beneficially Owned Following Reported Transaction(s) Ownership Form: Direct (D) or Indirect (I) Nature of Indirect Beneficial Ownership
NON-QUALIFIED OPTION (RIGHT TO BUY) 7.33 2019-09-20 deemed execution date M 19,325 (d) 2024-03-04 common stock 19,325 $7.33 28,215 direct
NON-QUALIFIED OPTION (RIGHT TO BUY) 8.63 2019-09-20 deemed execution date M 20,364 (d) 2022-02-28 common stock 20,364 $8.63 0 direct
Footnotes
IDfootnote
f1 the option exercise and sales reported on this form 4 were effected pursuant to a rule 10b5-1 trading plan adopted by the reporting person on august 12, 2019.
f2 this transaction was executed in multiple trades at prices ranging from $17.00 to $17.82. the price reported in column 4 reflects the weighted average purchase price. the reporting person hereby undertakes to provide, upon written request, to the sec staff, the issuer, or a security holder of the issuer, full information regarding the number of shares and prices at which the transactions were effected.
f3 includes 150,897 restricted stock units granted pursuant to the career education corporation 2008 or 2016 incentive compensation plans, with each unit representing the contingent right to receive one share of issuer's common stock.
f4 on march 4, 2014 the reporting person was granted 47,540 non-qualified stock options. the option grant vested in four installments on march 14, 2015, 2016, 2017 and 2018.
f5 on march 1, 2012 the reporting person was granted 20,364 non-qualified stock options. the option grant vested in four installments on march 1, 2013, 2014, 2015 and 2016.
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