APEI (APEI) APUS president Nuno Fernandes sells 4,500 company shares

Rhea-AI Filing Summary

AMERICAN PUBLIC EDUCATION INC executive Nuno S. Fernandes, President of APUS, reported an open-market sale of 4,500 shares of common stock at $53.34 per share. After this transaction, he directly holds 78,575 shares, indicating he retains a substantial equity position in the company.

Insider Trade Summary

Net Seller: 4,500 shares ($240,030)

Net Sell 1 txn

Insider Fernandes Nuno S.

Role President, APUS

Sold 4,500 shs ($240K)

Type	Security	Shares	Price	Value
Sale	Common Stock, par value $.01	4,500	$53.34	$240K

Holdings After Transaction: Common Stock, par value $.01 — 78,575 shares (Direct, null)

Footnotes (1)

Key Figures

Shares sold: 4,500 shares Sale price: $53.34 per share Shares owned after transaction: 78,575 shares

3 metrics

Shares sold 4,500 shares Open-market sale on 2026-05-13

Sale price $53.34 per share Common Stock, par value $.01

Shares owned after transaction 78,575 shares Direct ownership following sale

Key Terms

open-market sale, Common Stock, par value $.01, Form 4

3 terms

open-market sale financial

"The transaction is described as an open-market sale of common stock."

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Common Stock, par value $.01 financial

"Security title is listed as Common Stock, par value $.01."

Form 4 regulatory

"The insider transaction is reported on SEC Form 4."

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

Form 4 Insider Transactions: What Each Field Means →

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^*

Fernandes Nuno S.

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/13/2026

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	05/13/2026		S		4,500	D	$53.34	78,575	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:

	/s/ Edward Codispoti, Attorney-in-Fact	05/15/2026
	** 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)

FAQ

What insider transaction did APEI executive Nuno S. Fernandes report?

Nuno S. Fernandes reported selling 4,500 shares of AMERICAN PUBLIC EDUCATION INC common stock in an open-market transaction at $53.34 per share, while retaining 78,575 shares directly after the sale.

What role does Nuno S. Fernandes hold at AMERICAN PUBLIC EDUCATION INC (APEI)?

Nuno S. Fernandes serves as President of APUS, a unit of AMERICAN PUBLIC EDUCATION INC. His Form 4 filing reflects personal equity ownership activity in the company’s common stock rather than a corporate transaction.

How many APEI shares does Nuno S. Fernandes own after the reported sale?

Following the open-market sale, Nuno S. Fernandes directly owns 78,575 shares of AMERICAN PUBLIC EDUCATION INC common stock, according to the Form 4, showing he maintains a significant remaining stake after selling 4,500 shares.

Was the APEI insider transaction an open-market sale or another type of trade?

The filing classifies the transaction as an open-market sale of common stock, coded “S” on Form 4. This indicates the shares were sold on the market rather than being transferred as a gift, for taxes, or through option exercises.

Does the APEI Form 4 show any derivative securities for Nuno S. Fernandes?

The Form 4 summary indicates no derivative transactions or remaining derivative positions for Nuno S. Fernandes in this filing. All reported activity involves non-derivative common stock, focusing solely on the 4,500-share open-market sale.