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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Restricted Stock Right (2) | (2) | 02/08/2016 | A | 76,923 | (2) | 02/08/2019 | Common Stock | 76,923 | $ 0 | 76,923 | D | ||||
Restricted Stock Right (3) | (3) | 02/08/2016 | A | 93,750 | (3) | 02/08/2019 | Common Stock | 93,750 | $ 0 | 93,750 | D | ||||
Restricted Stock Right (4) | (4) | 02/08/2016 | A | 157,895 | (4) | 02/08/2019 | Common Stock | 157,895 | $ 0 | 157,895 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Udell Stuart 2300 CORPORATE PARK DRIVE SUITE 200 HERNDON, VA 20171 |
X | Chief Executive Officer |
/s/ John C. Grothaus, attorney-in-fact | 02/10/2016 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | Shares vest 25% on the one year anniversary of the effective date of the recipient's employment agreement and the remaining 75% in eight (8) substantially equal quarterly installments thereafter. |
(2) | Each restricted stock right represents a contingent right to receive one share of K12 common stock. The restricted stock right vests upon K12's common stock achieving an average stock price that equals or exceed $13 per share over a consecutive 30 day period within 3 years from the effective date of the recipient's employment agreement. |
(3) | Each restricted stock right represents a contingent right to receive one share of K12 common stock. The restricted stock right vests upon K12's common stock achieving an average stock price that equals or exceed $16 per share over a consecutive 30 day period within 3 years from the effective date of the recipient's employment agreement. |
(4) | Each restricted stock right represents a contingent right to receive one share of K12 common stock. The restricted stock right vests upon K12's common stock achieving an average stock price that equals or exceed $19 per share over a consecutive 30 day period within 3 years from the effective date of the recipient's employment agreement. |