Matthew J. Norden - Feb 22, 2024 Form 4 Insider Report for 2U, Inc. (TWOU)

Signature
/s/ Matthew J. Norden
Stock symbol
TWOU
Transactions as of
Feb 22, 2024
Transactions value $
-$1,356
Form type
4
Date filed
2/26/2024, 09:38 PM
Previous filing
Jan 4, 2024
Next filing
Apr 3, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TWOU Common Stock Award $0 +4.85K +1.04% $0.00 472K Feb 22, 2024 Direct F1, F2
transaction TWOU Common Stock Tax liability -$1.36K -3.39K -0.72% $0.40 469K Feb 26, 2024 Direct
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The security represents 1,016 shares and 3,831 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.
F2 The reporting person was granted performance-based restricted stock units on March 2, 2021, and March 10, 2022, which vest in the form of common stock based on metrics previously set by the Compensation Committee of issuer's Board as measured over three one-year performance periods (the "2021 Award" and "2022 Award", respectively) commencing on January 1 of 2021, 2022 and 2023 for the 2021 Award, and on January 1 of 2022, 2023 and 2024 for the 2022 Award. On February 22, 2024, the Compensation Committee determined the achievement percentage attained for the third performance period of the 2021 Award and the second performance period of the 2022 Award, which resulted in the acquisition of these shares or restricted stock units, as applicable. The restricted stock units will fully vest at the end of all performance periods, subject to the reporting person's continued service with issuer through such date.