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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 | ||||||||
Stock Option (right to buy) | $ 18.17 | 09/04/2014 | A | 185,985 | (5) | 09/04/2022 | Common Stock | 185,985 | $ 0 | 185,985 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
DAVIS NATHANIEL A 2300 CORPORATE PARK DRIVE HERNDON, VA 20171 |
X | Chairman and CEO |
/s/ John C. Grothaus, attorney-in-fact | 09/08/2014 | |
**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) | These shares are restricted, with one-third vesting immediately, and the remaining two-thirds vesting in two equal annual installments thereafter. |
(2) | These shares are restricted, and will all vest one year from the grant date. |
(3) | These shares are restricted and will only begin vesting upon the achievement of performance objectives. Upon a determination of the extent to which the performance objectives were achieved, which will correspondingly determine the number of shares to be vested, the shares will vest as follows: one-third will vest immediately, and the remaining two-thirds wil vest in two equal annual installments thereafter. |
(4) | Represents the number of shares withheld by the Company upon the vesting of restricted shares to cover the executive's withholding tax on income associated with the satisfaction of vesting conditions. The number of shares withheld is based upon the closing price of a share of K12 common stock on the vesting date. |
(5) | Shares vest 25% on the one-year anniversary of the grant date and the remaining 75% vest quarterly for the following three years. |