Matthew J. Norden - Mar 10, 2022 Form 4 Insider Report for 2U, Inc. (TWOU)

Role
Chief Legal Officer
Signature
/s/ Matthew J. Norden
Stock symbol
TWOU
Transactions as of
Mar 10, 2022
Transactions value $
$0
Form type
4
Date filed
3/14/2022, 07:43 PM
Previous filing
Jan 4, 2022
Next filing
Apr 5, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TWOU Common Stock Award $0 +82.7K +108.6% $0.00 159K Mar 10, 2022 Direct F1, F2
transaction TWOU Common Stock Award $0 +4.12K +2.59% $0.00 163K Mar 10, 2022 Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The security represents restricted stock units granted to the reporting person. Each restricted stock unit represents a contingent right to receive one share of common stock of the issuer.
F2 The restricted stock unit award will vest quarterly in equal installments as to 1/12th of the underlying shares beginning on April 1, 2022, and continuing in equal quarterly installments until 100% vested, subject to the reporting person's continued service with the issuer as of the applicable vesting date.
F3 The security represents restricted stock units granted to the reporting person in connection with the certification of performance metrics of performance-based restricted stock units previously granted to the reporting person. Each restricted stock unit represents a contingent right to receive one share of common stock of the issuer.
F4 On March 2, 2021, the reporting person was granted an award of performance-based restricted stock units, which vest in the form of common stock based upon metrics previously established by the Compensation Committee of the issuer's Board of Directors as measured over three one-year performance periods commencing on January 1, 2021, January 1, 2022 and January 1, 2023, respectively. On March 10, 2022, the Compensation Committee determined the achievement percentage attained for the first performance period of the award, which resulted in the acquisition of these restricted stock units. The shares underlying these restricted stock units will vest in full on December 31, 2024 at the end of all performance periods, subject to the reporting person's continued service with the issuer through such date.