Steve Burkholder - Mar 29, 2022 Form 4 Insider Report for Zovio Inc (ZVO)

Role: VP, Chief Accounting Officer
Signature: /s/ Diane L. Thompson, as Attorney-in-Fact
Stock symbol: ZVO
Transactions as of: Mar 29, 2022
Transactions value $: -$3,512
Form type: 4
Date filed: 3/31/2022, 08:38 PM
Previous filing: Sep 2, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ZVO	Common Stock	Options Exercise	$0	+9.94K	+169.34%	$0.00	15.8K	Mar 29, 2022	Direct	F1
transaction	ZVO	Common Stock	Tax liability	-$3.51K	-4.19K	-26.52%	$0.84	11.6K	Mar 29, 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	-1.86K	-100%	$0.00^*	0	Mar 29, 2022	Common Stock	1.86K		Direct	F2, F3
transaction	ZVO	Restricted Stock Unit	Options Exercise	$0	-2.13K	-50%	$0.00	2.13K	Mar 29, 2022	Common Stock	2.13K		Direct	F2, F4
transaction	ZVO	Restricted Stock Unit	Options Exercise	$0	-3.13K	-50%	$0.00	3.13K	Mar 29, 2022	Common Stock	3.13K		Direct	F2, F5
transaction	ZVO	Restricted Stock Unit	Options Exercise	$0	-2.82K	-33.34%	$0.00	5.63K	Mar 29, 2022	Common Stock	2.82K		Direct	F2, F6
transaction	ZVO	Restricted Stock Unit	Award	$0	+9.78K		$0.00	9.78K	Mar 29, 2022	Common Stock	9.78K		Direct	F2, F7

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

Explanation of Responses:

Id	Content
F1	On March 29, 2022, 9,937 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) 25% of the restricted stock units vest on the first anniversary of the vesting commencement date, and (ii) an additional 25% 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, 2018.
F4	Subject to the reporting person's continuing service, the restricted stock units vest as follows: (i) 25% of the restricted stock units vest on the first anniversary of the vesting commencement date, and (ii) an additional 25% 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, 2019.
F5	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, 2020.
F6	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.
F7	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, 2022.