Adtalem (ATGE) Insider Sells 31,292 Shares Recently; 25,477 More Planned

Rhea-AI Filing Summary

Adtalem Global Education (ATGE) Form 144 shows an insider intends to sell 25,477 common shares through Morgan Stanley Smith Barney with an aggregate market value of $3,372,663.09, listing the NYSE as the exchange and an approximate sale date of 08/28/2025. The filing discloses the shares were acquired via company compensation: restricted stock vesting and performance stock units between 08/25/2024 and 08/25/2025, totaling 25,477 shares. It also reports insider sales in the past three months: 18,392 shares on 08/27/2025 and 12,900 shares on 08/21/2025, generating gross proceeds of $2,486,889.00 and $1,714,465.47 respectively. The filer certifies no undisclosed material adverse information.

Positive

• Full Rule 144 disclosure: Broker, share counts, acquisition details, and past sales are provided, supporting regulatory compliance
• Acquisitions from compensation: All securities to be sold were acquired via restricted stock vesting or performance stock units, not undisclosed purchases

Negative

• Significant insider selling: Recent sales of 31,292 shares in the prior three months and a further planned sale of 25,477 represent notable insider liquidity
• Concentration of sales dates: Multiple disposals occurred in August 2025, which could be perceived as clustered insider exits

Insights

Securities Analyst

TL;DR: Insider plans to sell 25,477 shares (~$3.37M) after receiving shares from compensation; recent sizable sales were already executed.

The planned sale is clearly disclosed and executed through a major broker on the NYSE, showing proper compliance with Rule 144 notice requirements. The acquisition history indicates these shares stem from compensation (restricted stock vesting and PSUs) rather than open-market purchases, which is typical for executives or employees collecting earned equity. Recent disposals of 31,292 shares in the prior three months generated material cash proceeds, which investors may interpret as liquidity events rather than opportunistic dispositions tied to undisclosed company developments. Documentation appears complete for Rule 144 purposes.

Corporate Governance Expert

TL;DR: Disclosure is standard and detailed; insider selling is material but properly reported.

The filing provides required granularity: broker identity, exact share counts, acquisition dates, and nature of acquisition (restricted vesting and performance units). That level of detail supports governance transparency. The signer attests no material non-public information, and past sales are itemized with gross proceeds, enabling oversight of insider trading patterns. From a governance standpoint, the filing raises no procedural concerns but does show meaningful insider liquidity in recent weeks.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	25477	3372663.09	35955712	08/28/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	11/08/2024	Restricted stock vesting under a registered plan	Issuer			1262	11/08/2024	Services Rendered
Common	08/25/2024	Performance Stock Units	Issuer			11298	08/25/2024	Services Rendered
Common	08/25/2025	Restricted stock vesting under a registered plan	Issuer			5128	08/25/2025	Services Rendered
Common	08/26/2024	Restricted stock vesting under a registered plan	Issuer			7789	08/26/2024	Services Rendered

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
LISA W. WARDELL 233 South Wacker Drive Suite 800 Chicago IL 60606	Common	08/27/2025	18392	2486889.00
Lisa Wardell 233 South Wacker Drive Suite 800 Chicago IL 60606	Common	08/21/2025	12900	1714465.47

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What shares does the ATGE Form 144 disclose for sale?

The filing discloses 25,477 common shares offered for sale through Morgan Stanley Smith Barney with an aggregate market value of $3,372,663.09.

Who is the seller named in the ATGE Form 144?

The seller identified in past-sales rows is Lisa W. Wardell at the listed Chicago address; the notice covers securities to be sold for the named person for whose account the sale is proposed.

How were the shares acquired that are being sold?

The shares were acquired via restricted stock vesting and performance stock units between 08/25/2024 and 08/25/2025, totaling 25,477 shares.

Did the filer sell any ATGE shares recently?

Yes. The filing reports sales of 18,392 shares on 08/27/2025 (gross proceeds $2,486,889.00) and 12,900 shares on 08/21/2025 (gross proceeds $1,714,465.47).

Which broker and exchange are being used for the planned sale?

The sale is to be executed through Morgan Stanley Smith Barney LLC on the NYSE.

Does the filing state any undisclosed material information?

The person signing the Form 144 represents that they do not know any material adverse information about the issuer that has not been publicly disclosed.