Welcome to our dedicated page for AMERICAN PUBLIC EDUCATION SEC filings (Ticker: APEI), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
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American Public Education, Inc. (APEI) reported that it issued a press release covering financial results for the three and nine months ended September 30, 2025. The company also scheduled a webcast for 5:00 p.m. ET on November 10, 2025 to discuss these results.
American Public Education, Inc. (APEI) reported higher quarterly results. For the quarter ended September 30, 2025, revenue rose to $163,215 thousand from $153,122 thousand, and income from operations increased to $9,697 thousand from $4,129 thousand. Net income reached $5,560 thousand, with diluted EPS of $0.30 versus $0.04 a year ago.
Growth was broad-based: APUS revenue was $83,137 thousand (up from $76,981 thousand), Rasmussen University was $60,830 thousand (up from $52,604 thousand), and Hondros College of Nursing was $18,440 thousand (up from $15,493 thousand). Operating expenses were stable overall, while depreciation and amortization declined to $3,946 thousand.
APEI completed the sale of Graduate School USA on July 25, 2025 for $0.5 million and recorded a $3,877 thousand loss on sale. The company redeemed all Series A preferred stock on June 23, 2025, recording a $3,501 thousand loss on redemption year-to-date. Cash, cash equivalents, and restricted cash were $193,144 thousand, and long-term debt was $94,368 thousand. Shares outstanding were 18,085,030 as of November 7, 2025.
American Public Education (APEI) reported a Form 4 indicating its EVP & Chief Financial Officer received 8,477 restricted stock units (RSUs) on October 20, 2025. The filing shows these RSUs were acquired at $0 as a stock award and are held directly.
The RSUs vest in three equal annual installments beginning on October 20, 2026. Following the grant, the officer beneficially owns 8,477 shares directly, aligning with the awarded RSUs.
American Public Education, Inc. (APEI) filed a Form 3 initial statement of beneficial ownership for Edward H. Codispoti, its EVP & Chief Financial Officer. The filing states that no securities are beneficially owned as of the event date 10/20/2025.
The form was filed by one reporting person and includes Exhibit 24 – Power of Attorney. This is a routine Section 16 filing establishing the officer’s baseline ownership on record.
American Public Education (APEI) updated third-quarter performance and outlined the impact of the federal government shutdown. Management expects third quarter 2025 consolidated revenue to exceed the top end of its guidance, and APUS net course registrations to exceed the top end of its guidance. These figures are preliminary, unaudited, and subject to completion of quarterly closing procedures, with final results expected in November.
Shutdown impact: APUS estimates approximately 12,700 course registrations were dropped for non-payment on October 11, 2025 for students intending to use Department of Defense tuition assistance, while about 1,700 TA-authorized in the prior fiscal year were not dropped. APUS estimates October 2025 revenue will be lower by about $9.6 million, and net course registrations declined by roughly 35% versus October 2024. The company is evaluating mitigation steps and cannot determine the full impact on fourth quarter and full-year 2025.
American Public Education, Inc. (APEI) insider filing reports a proposed sale of 3,046 common shares through Fidelity Brokerage with an aggregate market value of $118,794. The filing lists approximately 18,067,134 shares outstanding and an approximate sale date of 10/02/2025. The shares were acquired on 08/08/2024 upon restricted stock vesting and were paid as compensation. The filing also discloses a prior sale by Craig S. Macgibbon of 3,486 shares on 09/11/2025 for $122,010. The notice includes the standard representation that the seller is not aware of any undisclosed material adverse information about the issuer.
American Public Education, Inc. (APEI) filed a Form 144 notice reporting a proposed sale of 3,486 common shares through Fidelity Brokerage Services LLC (Smithfield, RI) with an aggregate market value of $122,010.00. The filing lists the shares as acquired by exercise of an option (option granted 08/08/2022) with an acquisition date and intended sale date of 09/11/2025. No other sales in the past three months are reported and the filer certifies no undisclosed material adverse information concerning the issuer.
Nuno S. Fernandes, President of APUS and a director, reported a share disposition on 08/29/2025 for 3,210 shares of American Public Education, Inc. (APEI) at an effective price of $30.18 per share. The filing states these shares were withheld by the issuer to satisfy tax withholding obligations arising from the vesting of restricted stock units. After the withholding, the reporting person beneficially owns 82,249 shares. The Form 4 was signed by an attorney-in-fact on behalf of the reporting person on 09/03/2025. This disclosure identifies the transaction as a tax-withholding disposition rather than an open-market sale.
Redwood Capital affiliates and Ruben Kliksberg report beneficial ownership of 705,379 shares of American Public Education, Inc. common stock, representing approximately 3.9% of the class. Each reporting person discloses no sole voting or dispositive power and instead reports shared voting and shared dispositive power for 705,379 shares, and the filing is submitted as a Schedule 13G/A.
All securities reported are stated to be directly owned by advisory clients of Redwood Capital Management, LLC, and the filing specifies that none of those clients is known to beneficially own more than 5% of the class. The reporting persons disclaim beneficial ownership except to the extent of any pecuniary interest and state the holdings were not acquired to change or influence control of the issuer. The filing lists the filers' organizational jurisdictions (Delaware, Cayman Islands, United States) and addresses for contact purposes.
American Public Education, Inc. (APEI) filed a Form 144 reporting a proposed sale of 56,620 common shares with an aggregate market value of $1,660,222.00, to be sold on 08/08/2025 on Nasdaq. The filing shows the 56,620 shares were acquired entirely through compensation-related events: a 25,000-share stock option exercise on 03/20/2023 and multiple restricted stock unit lapses between 05/10/2020 and 05/19/2025 that sum to the same total. The company reports 18,067,134 shares outstanding, so the proposed sale equals approximately 0.31% of outstanding shares. The filer states Nothing to Report for securities sold in the past three months.