APEI (NASDAQ: APEI) CEO has shares withheld to cover RSU taxes

Rhea-AI Filing Summary

American Public Education, Inc. President and CEO Angela K. Selden reported two tax-withholding dispositions of common stock tied to restricted stock unit vesting. On February 9, 2026, the issuer withheld 11,551 shares and 14,224 shares of common stock at $44.15 per share to satisfy related tax obligations. After these transactions, Selden continues to directly own more than 500,000 APEI shares.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Selden Angela K.

Role President and CEO

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock, par value $.01	11,551	$44.15	$510K
Tax Withholding	Common Stock, par value $.01	14,224	$44.15	$628K

Holdings After Transaction: Common Stock, par value $.01 — 555,581 shares (Direct)

Footnotes (1)

1. The issuer withheld shares of Common Stock from the reporting person to pay the tax withholding obligations related to the vesting of performance-based restricted stock units ("RSUs"). The issuer withheld shares of Common Stock from the reporting person to pay the tax withholding obligations related to the vesting of RSUs.

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
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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^*

Selden Angela K.

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
02/09/2026

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	02/09/2026		F(1)		11,551	D	$44.15	555,581	D
Common Stock, par value $.01	02/09/2026		F(2)		14,224	D	$44.15	541,357	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 issuer withheld shares of Common Stock from the reporting person to pay the tax withholding obligations related to the vesting of performance-based restricted stock units ("RSUs").

2. The issuer withheld shares of Common Stock from the reporting person to pay the tax withholding obligations related to the vesting of RSUs.

	/s/ Edward Codispoti, Attorney-in-Fact	02/11/2026
	** 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.

FAQ

What did APEI CEO Angela Selden report in this Form 4 filing?

Angela K. Selden, President and CEO of American Public Education, Inc. (APEI), reported two dispositions of common stock. These were not market sales but share withholdings by the issuer to cover tax obligations related to the vesting of restricted stock units.

Were Angela Selden’s APEI transactions open-market stock sales?

No. The transactions reported by Angela Selden were coded “F,” meaning they were tax-withholding dispositions. The issuer withheld shares of common stock to pay tax obligations arising from the vesting of performance-based and time-based restricted stock units, rather than selling shares in the open market.

How many APEI shares were withheld for taxes in this Form 4?

On February 9, 2026, the issuer withheld 11,551 APEI common shares and another 14,224 shares. Both withholdings were at a price of $44.15 per share, covering tax liabilities from vesting performance-based RSUs and time-based RSUs awarded to Angela Selden.

What price was used for the APEI tax-withholding share dispositions?

Both tax-withholding dispositions used a price of $44.15 per share for APEI common stock. This price was applied when 11,551 shares and 14,224 shares were withheld to satisfy tax obligations connected to the vesting of Angela Selden’s restricted stock units.

Does Angela Selden still hold a significant stake in APEI after these transactions?

Yes. After the reported tax-withholding dispositions, Angela Selden continues to directly own more than 500,000 shares of APEI common stock. The Form 4 tables show post-transaction direct holdings above this level despite the shares withheld for RSU-related tax obligations.

What is the nature of Angela Selden’s relationship to APEI?

Angela K. Selden is both a director and the President and CEO of American Public Education, Inc. The Form 4 identifies her as an officer and director, and the reported common stock transactions reflect her direct ownership position in the company.