APEI (APEI) HR chief sells 20,000 shares, retains 49,917

Rhea-AI Filing Summary

AMERICAN PUBLIC EDUCATION INC senior vice president and chief HR officer Tanya Joy Axenson reported open-market sales of a total of 20,000 shares of common stock on March 16, 2026. The shares were sold in three blocks at weighted average prices of $55.2002, $56.1766, and $56.9032 per share, each representing sales across narrow price ranges. After these transactions, Axenson directly holds 49,917 shares of AMERICAN PUBLIC EDUCATION INC common stock.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Axenson Tanya Joy

(Last) (First) (Middle)

111 WEST CONGRESS STREET

(Street)

CHARLES TOWN WV 25414

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
AMERICAN PUBLIC EDUCATION INC [ APEI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, Chief HR Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/16/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $.01	03/16/2026		S		10,617	D	$55.2002(1)	59,300	D
Common Stock, par value $.01	03/16/2026		S		8,817	D	$56.1766(2)	50,483	D
Common Stock, par value $.01	03/16/2026		S		566	D	$56.9032(3)	49,917	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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 Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The price of $55.2002 per share represents a weighted average of sale prices ranging from $54.785 to $55.775 per share. The reporting person undertakes to provide upon request by the Commission staff, the issuer, or a security holder of the issuer full information regarding the number of shares sold at each separate price.

2. The price of $56.1766 per share represents a weighted average of sale prices ranging from $55.81 to $56.69 per share. The reporting person undertakes to provide upon request by the Commission staff, the issuer, or a security holder of the issuer full information regarding the number of shares sold at each separate price.

3. The price of $56.9032 per share represents a weighted average of sale prices ranging from $56.89 to $56.91 per share. The reporting person undertakes to provide upon request by the Commission staff, the issuer, or a security holder of the issuer full information regarding the number of shares sold at each separate price.

	/s/ Edward Codispoti, Attorney-in-Fact	03/17/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
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FAQ

What insider transaction did APEI executive Tanya Joy Axenson report?

Tanya Joy Axenson reported selling 20,000 shares of AMERICAN PUBLIC EDUCATION INC common stock in open-market transactions. The sales occurred in three separate trades and are disclosed as routine Form 4 insider activity for the company’s senior vice president and chief HR officer.

How many APEI shares did Tanya Joy Axenson sell and at what prices?

Axenson sold a total of 20,000 AMERICAN PUBLIC EDUCATION INC shares. The trades covered 10,617 shares at $55.2002, 8,817 shares at $56.1766, and 566 shares at $56.9032, each price reflecting a weighted average over a narrow intraday range.

How many AMERICAN PUBLIC EDUCATION INC shares does Tanya Joy Axenson hold after the sale?

Following the reported transactions, Axenson directly holds 49,917 shares of AMERICAN PUBLIC EDUCATION INC common stock. This post-transaction balance reflects her remaining direct equity stake after selling 20,000 shares in open-market trades on March 16, 2026.

Were the APEI insider stock sales by Tanya Joy Axenson open-market transactions?

Yes, all reported trades were classified as open-market sales of AMERICAN PUBLIC EDUCATION INC common stock. The Form 4 identifies each with transaction code “S,” described as a sale in open market or private transaction, and provides weighted average sale prices for each trade.

Does the APEI Form 4 show any option exercises or derivative transactions for Tanya Joy Axenson?

No derivative or option exercises appear in this Form 4 for Axenson. All three reported transactions involve non-derivative common stock sales, and the derivative position summary shows no derivative transactions or remaining derivative holdings disclosed in this particular filing.