Nichols Victor K. Power - 12 May 2022 Form 4 Insider Report for Zovio Inc

Role
Director
Signature
/s/ Matt Mitchell, as Attorney-in-Fact
Issuer symbol
N/A
Transactions as of
12 May 2022
Net transactions value
$0
Form type
4
Filing time
16 May 2022, 16:34:45 UTC
Previous filing
03 May 2022
Next filing
04 Oct 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 +44,129 +61% $0.000000 115,930 12 May 2022 Direct F1

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 -44,129 -100% $0.000000* 0 12 May 2022 Common Stock 44,129 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Nichols Victor K. Power is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 On May 12, 2022, 44,129 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, 100% of the restricted stock units ("RSUs") shall vest on March 29, 2023. If the reporting person ceases to provide service for any reason other than Cause (as defined in the issuer's Amended and Restated 2009 Stock Incentive Plan, as amended) prior to March 29, 2023, then the RSUs vested shall be determined by multiplying the total number of RSUs granted (122,024 RSUs) by the Pro-Ration Fraction (rounding down to the nearest whole share). "Pro-Ration Fraction" shall mean a fraction: (a) the numerator of which is the number of days that have elapsed between the January 1, 2022 through the date on which the reporting person ceases to provide service, for any reason other than Cause, and (b) the denominator of which is 365.

Remarks:

Exhibit 24 - Power of Attorney