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

Role
Chief Operating Officer
Signature
/s/ Gerard Wendolowski
Issuer symbol
ASPU
Transactions as of
20 Sep 2021
Net transactions value
+$0.12
Form type
4
Filing time
21 Sep 2021, 16:07:23 UTC
Previous filing
16 Aug 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ASPU Common Stock Options Exercise $980,000 +200,000 +119% $4.90* 368,535 20 Sep 2021 Direct F1
transaction ASPU Common Stock Tax liability $980,000 -169,844 -46% $5.77* 198,691 20 Sep 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 -200,000 -100% $0.000000* 0 20 Sep 2021 Common Stock 200,000 $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.