Kevin Royal - May 31, 2022 Form 4 Insider Report for Zovio Inc (ZVO)

Role: EVP, Chief Financial Officer
Signature: /s/ Matt Mitchell, as Attorney-in-Fact
Stock symbol: ZVO
Transactions as of: May 31, 2022
Transactions value $: -$2,741
Form type: 4
Date filed: 6/2/2022, 05:20 PM
Previous filing: Mar 31, 2022
Next filing: Mar 6, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	Price $	Shares After	Date	Ownership	Footnotes
transaction	ZVO	Common Stock	+Options Exercise	$0	+10,020	+7.23%	$0.00	148,611	May 31, 2022	Direct	F1
transaction	ZVO	Common Stock	-Tax liability	-$2,741	-3,465	-2.33%	$0.79	145,146	May 31, 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	-10,020	-100%	$0.00	0	May 31, 2022	Common Stock	10,020		Direct	F2, F3

Explanation of Responses:

Id	Content
F1	On May 31, 2022, 10,020 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 May 31, 2018.

Remarks:

Exhibit 24 - Power of Attorney