Thornton Leslie T 4

What Happened

• Leslie T. Thornton, a director of Perdoceo Education Corp (PRDO), exercised 21,129 derivative shares (code M) on March 13, 2026 at an exercise price of $5.96 per share (cost $125,929) and sold the 21,129 resulting shares in an open-market transaction for a weighted average price of $35.37 per share (proceeds ~$747,333). The filing also shows the underlying derivative was converted/retired (reported as disposed at $0) as part of the exercise/conversion.

Key Details

• Transaction date: 2026-03-13.
• Exercise: 21,129 shares at $5.96 = $125,929 (code M).
• Sale: 21,129 shares sold in open market at weighted avg $35.37 = $747,333 (code S). Trades ranged $34.97–$35.65 (see footnote F1).
• Derivative conversion: 21,129 derivative units reported disposed at $0 upon exercise (code M).
• Holdings reported (per footnote F2): includes 14,619 vested deferred stock units (convertible to shares upon termination) and 5,155 unvested restricted stock units.
• Filing date: 2026-03-13 (same day as transaction). No late filing indicated in the report.

Context

• This appears to be a cashless exercise: options were exercised and the resulting shares were immediately sold in the open market to realize proceeds. Such transactions commonly raise cash or cover exercise/tax costs and are not, by themselves, a clear signal of sentiment.
• M = exercise/conversion of derivative; S = sale of securities. Footnote F1 notes multiple trades and provides the trade-price range; F2 explains the composition of reported holdings (deferred units and RSUs).