APEI director receives 2,135-share equity award

Fabrega Anna M. reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Fabrega Anna M. reported acquisition or exercise transactions in this Form 4 filing.

AMERICAN PUBLIC EDUCATION INC director Anna M. Fabrega received an equity grant of 2,135 shares of common stock as a non-employee director award. The shares were granted at no cash price under the company’s director compensation policy. Following this award, she directly holds 33,431 shares. The restricted stock vests on the earlier of the first anniversary of the grant date or the next annual stockholders’ meeting.

Insider Trade Summary

Grant/Award: 2,135 shares

Grant/Award 1 txn

Insider Fabrega Anna M.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock, par value $.01	2,135	$0.00	$0.00

Holdings After Transaction: Common Stock, par value $.01 — 33,431 shares (Direct)

Footnotes (1)

1. F1. Under the director compensation policy for non-employee directors of American Public Education, Inc., each non-employee director receives an annual equity award of restricted stock at each annual meeting of stockholders that vests on the earlier of the anniversary of the award date and the date of the next annual meeting of stockholders.

Key Figures

Shares granted: 2,135 shares Grant price per share: $0.00 per share Shares owned after transaction: 33,431 shares +1 more

4 metrics

Shares granted 2,135 shares Restricted stock award on May 22, 2026

Grant price per share $0.00 per share Equity compensation, not an open-market purchase

Shares owned after transaction 33,431 shares Direct holdings following the grant

Acquisition transactions in filing 1 transaction Form 4 transaction summary acquireCount

Key Terms

restricted stock, director compensation policy, annual equity award, annual meeting of stockholders

4 terms

restricted stock financial

"each non-employee director receives an annual equity award of restricted stock at each annual meeting"

Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.

director compensation policy financial

"Under the director compensation policy for non-employee directors of American Public Education, Inc."

annual equity award financial

"each non-employee director receives an annual equity award of restricted stock"

annual meeting of stockholders financial

"at each annual meeting of stockholders that vests on the earlier of the anniversary"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did APEI director Anna M. Fabrega report?

Anna M. Fabrega reported receiving a grant of 2,135 shares of APEI common stock. This was an equity award under the non-employee director compensation policy and increased her direct holdings to 33,431 shares following the transaction.

How many APEI shares were granted to Anna M. Fabrega in this Form 4?

The Form 4 shows Anna M. Fabrega was granted 2,135 shares of APEI common stock. These shares were awarded as restricted stock under the company’s director compensation policy for non-employee directors at the annual stockholders’ meeting.

What is Anna M. Fabrega’s APEI share ownership after this grant?

After the equity grant, Anna M. Fabrega directly owns 33,431 shares of APEI common stock. This total reflects her holdings following receipt of the 2,135 restricted shares reported in the Form 4 insider transaction filing.

How is APEI compensating non-employee directors with equity awards?

APEI compensates non-employee directors with an annual equity award of restricted stock at each annual stockholders’ meeting. The restricted shares vest on the earlier of the award’s first anniversary or the date of the next annual meeting of stockholders.

At what price were the APEI shares granted to Anna M. Fabrega?

The 2,135 APEI shares granted to Anna M. Fabrega carried a reported price of $0.00 per share. This reflects that the shares were an equity compensation award, not an open-market purchase for cash consideration.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/26/2026 - 04:16 PM EDT Learn about SEC filing dates

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Fabrega Anna M.

(Last) (First) (Middle)

111 WEST CONGRESS STREET

(Street)

CHARLES TOWN WEST VIRGINIA 25414

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/22/2026

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

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

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

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	05/22/2026		A		2,135(1)	A	$0	33,431	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. Under the director compensation policy for non-employee directors of American Public Education, Inc., each non-employee director receives an annual equity award of restricted stock at each annual meeting of stockholders that vests on the earlier of the anniversary of the award date and the date of the next annual meeting of stockholders.

Remarks:

Exhibit 24 - Power of Attorney

	/s/ Edward Codispoti., Attorney-in-Fact	05/26/2026
	** 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).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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 Number.
* Form 4: SEC 1474 (03-26)