Christopher L. Spohn - 02 May 2022 Form 4 Insider Report for Zovio Inc

Role
EVP, Operations
Signature
/s/ Matt Mitchell, as Attorney-in-Fact
Issuer symbol
N/A
Transactions as of
02 May 2022
Net transactions value
-$4,987
Form type
4
Filing time
03 May 2022, 17:01:00 UTC
Previous filing
31 Mar 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 +27,473 +27% $0.000000 129,574 02 May 2022 Direct F1
transaction ZVO Common Stock Tax liability $4,987 -6,834 -5.3% $0.7298 122,740 02 May 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 -27,473 -33% $0.000000 54,944 02 May 2022 Common Stock 27,473 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On April 30, 2022, 27,473 of the reporting person's restricted stock units vested. 27,473 of the reporting person's restricted stock units were settled for an equal number of shares of the issuer's common stock on May 2, 2022, the first business day following the closing price of the issuer's common stock on April 29, 2022, which was the settlement price used to calculate the shares withheld.
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 April 30, 2020.

Remarks:

Exhibit 24 - Power of Attorney