Kevin Royal - 31 May 2022 Form 4 Insider Report for Zovio Inc

Role
EVP, Chief Financial Officer
Signature
/s/ Matt Mitchell, as Attorney-in-Fact
Issuer symbol
N/A
Transactions as of
31 May 2022
Net transactions value
-$2,741
Form type
4
Filing time
02 Jun 2022, 17:20:00 UTC
Previous filing
31 Mar 2022
Next filing
06 Mar 2024
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 +10,020 +7.2% $0.000000 148,611 31 May 2022 Direct F1
transaction ZVO Common Stock Tax liability $2,741 -3,465 -2.3% $0.7910* 145,146 31 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 -10,020 -100% $0.000000* 0 31 May 2022 Common Stock 10,020 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

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