Gerard Wendolowski - Sep 20, 2021 Form 4 Insider Report for ASPEN GROUP, INC. (ASPU)

Role
Chief Operating Officer
Signature
/s/ Gerard Wendolowski
Stock symbol
ASPU
Transactions as of
Sep 20, 2021
Transactions value $
$0
Form type
4
Date filed
9/21/2021, 04:07 PM
Previous filing
Aug 16, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ASPU Common Stock Options Exercise $980K +200K +118.67% $4.90* 369K Sep 20, 2021 Direct F1
transaction ASPU Common Stock Tax liability -$980K -170K -46.09% $5.77* 199K Sep 20, 2021 Direct F2

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 ASPU Stock Options (Right to Buy) Options Exercise $0 -200K -100% $0.00* 0 Sep 20, 2021 Common Stock 200K $4.90 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person cashlessly exercised the stock options. The exercise of the stock options was exempt under Rule 16b-6 and the right of the Reporting Person to direct that the shares be withheld in payment of the exercise price was approved in advance by the Compensation Committee of the Issuer's Board of Directors, which is comprised of only non-employee directors in accordance with Rule 16b-3(d).
F2 Represents shares surrendered in payment of the exercise price.