Christopher L. Spohn - 29 Mar 2022 Form 4 Insider Report for Zovio Inc

Role: EVP, Operations
Signature: /s/ Diane L. Thompson, as Attorney-in-Fact
Issuer symbol: N/A
Transactions as of: 29 Mar 2022
Net transactions value: -$9,101
Form type: 4
Filing time: 31 Mar 2022, 20:35:01 UTC
Previous filing: 08 Oct 2021
Next filing: 03 May 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ZVO	Common Stock	Options Exercise	$0	+37,164	+49%	$0.000000	112,961	29 Mar 2022	Direct	F1
transaction	ZVO	Common Stock	Tax liability	$9,101	-10,860	-9.6%	$0.8380	102,101	29 Mar 2022	Direct

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	ZVO	Restricted Stock Unit	Options Exercise	$0	-37,164	-33%	$0.000000	74,326	29 Mar 2022	Common Stock	37,164		Direct	F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On March 29, 2022, 37,164 of the reporting person's restricted stock units were settled for an equal number of shares of the issuer's common stock.
F2	Each restricted stock unit represents a contingent right to receive one share of the issuer's common stock.
F3	Subject to the reporting person's continuing service, the restricted stock units vest as follows: (i) 1/3rd of the restricted stock units vest on the first anniversary of the vesting commencement date, and (ii) an additional 1/3rd of the restricted stock units shall vest on each subsequent anniversary of the vesting commencement date. The vesting commencement date for the restricted stock units is March 29, 2021.