[SCHEDULE 13G/A] American Public Education, Inc. SEC Filing

Rhea-AI Filing Summary

Bank of America Corporation reports beneficial ownership of 808,973 shares of American Public Education, Inc. common stock, equal to 4.5% of the class. The filing shows shared voting and shared dispositive power over 808,973 shares and records no sole voting or dispositive power. The statement is made on behalf of Bank of America and its wholly owned subsidiaries, including BofA Securities, Bank of America N.A., and Merrill Lynch International. The filer certifies these shares are held in the ordinary course of business and not to change or influence control of the issuer.

Insights

Financial Analyst

TL;DR: Bank of America holds a passive 4.5% stake (808,973 shares) in APEI; disclosure is neutral for control implications.

The Schedule 13G/A reports a beneficial position of 808,973 shares (4.5%), with shared voting and dispositive power. The filing is consistent with a passive investment: Item 10 certifies the shares are held in the ordinary course and not to influence control. Because the position is under 5% and explicitly passive, this disclosure is unlikely to indicate near-term governance changes or control contests based on the filing alone.

Corporate Governance Expert

TL;DR: Disclosure confirms aggregated ownership across Bank of America entities and affirms no intent to affect issuer control.

The filing identifies Bank of America Corporation and its subsidiaries (including BofA Securities, Bank of America N.A., Merrill Lynch International) as reporting persons and documents shared voting/dispositive power of 808,973 shares. Item 10 certification states the position was not acquired to change control. From a governance perspective, the statement provides clear attribution of voting authority and a formal attestation that the holding is passive.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

AMERICAN PUBLIC EDUCATION INC

(Name of Issuer)

Common Stock

(Title of Class of Securities)

02913V103

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 02913V103

1

Names of Reporting Persons

BANK OF AMERICA CORP /DE/

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 808,973.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 808,973.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

808,973.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.5 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: AMERICAN PUBLIC EDUCATION INC
(b)	Address of issuer's principal executive offices: 111 W CONGRESS STREET, CHARLES TOWN, WEST VIRGINIA, 25414.
Item 2.
(a)	Name of person filing: BANK OF AMERICA CORP /DE/
(b)	Address or principal business office or, if none, residence: 100 N TRYON ST CHARLOTTE, NC 28255
(c)	Citizenship: Delaware
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 02913V103
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 808,973.00
(b)	Percent of class: 4.5%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0.00
	(ii) Shared power to vote or to direct the vote: 808,973.00
	(iii) Sole power to dispose or to direct the disposition of: 0.00
	(iv) Shared power to dispose or to direct the disposition of: 808,973.00
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. This statement on Schedule 13G is being filed by Bank of America Corporation on behalf of itself and its wholly owned subsidiaries BofA Securities, Inc., a broker dealer registered under section 15 of the Act (15 U.S.C. 78o); Bank of America N.A., a bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); and Merrill Lynch International, a non-U.S. institution in accordance with section 240.13d-1(b)(1)(ii)(J).
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

BANK OF AMERICA CORP /DE/

Signature:	Andres Ortiz
Name/Title:	Authorized Signatory
Date:	08/12/2025