Adtalem (ATGE) Officer Reports Stock Payouts and Withholding on Form 4

Rhea-AI Filing Summary

Adtalem Global Education Inc. (ATGE) insider reported multiple equity transactions by Michael Betz, President of Walden University and Chief Development Officer. The Form 4 shows common stock issued as payouts of performance stock units and restricted stock units, plus shares sold to satisfy tax-withholding obligations. Transaction dates are 08/23/2025 and 08/24/2025, with shares issued at a reported price of $134.88 per share.

After these transactions Mr. Betz's beneficial ownership moved between reported totals of 21,985 and 32,825 shares depending on the line item. The filing is a routine disclosure of executive equity compensation vesting and related tax withholding; it does not include other corporate or financial results.

Insights

Securities Analyst

TL;DR: Routine executive equity vesting and tax-withholding sales; not a material corporate event.

The Form 4 documents issuance of common stock from vested performance stock units and restricted stock units on 08/23/2025 and 08/24/2025, at a reported per-share price of $134.88. Portions of the vested awards were used to satisfy tax-withholding obligations, reducing the net shares retained. These actions are standard for compensation settlements and reflect internal share movements rather than open-market purchases or strategic dispositions.

Corporate Governance Expert

TL;DR: Compensation-related equity settlements disclosed correctly; governance impact is routine and informational.

The disclosure identifies Michael Betz as an officer and shows multiple vesting-related transactions tied to Growth with Purpose and other performance units. The filing is consistent with standard Section 16 reporting requirements and provides transparency on insider ownership changes due to compensation. There are no indications of unusual timing or large open-market sales that would raise governance concerns.

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

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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^*

Betz Michael

(Last) (First) (Middle)

233 S. WACKER DRIVE

SUITE 800

(Street)

CHICAGO 60606

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Adtalem Global Education Inc. [ ATGE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Pres. Walden University & CDO

3. Date of Earliest Transaction (Month/Day/Year)
08/23/2025

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	08/23/2025		A		11,890(1)	A	$134.88	28,771	D
Common Stock	08/23/2025		F		5,113(2)	D	$134.88	23,658	D
Common Stock	08/23/2025		F		903(3)	D	$134.88	22,755	D
Common Stock	08/24/2025		F		770(3)	D	$134.88	21,985	D
Common Stock	08/24/2025		A		10,840(4)	A	$134.88	32,825	D
Common Stock	08/24/2025		F		4,673(5)	D	$134.88	28,152	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. Common stock issued in payout of Growth with Purpose ("GwP") performance stock units awarded on August 23, 2023.

2. Represents the satisfaction of tax withholding obligations upon the vesting of the GwP performance stock units.

3. Represents the satisfaction of tax withholding obligations upon the vesting of previously awarded restricted stock units.

4. Common stock issued in payout of performance stock units awarded on February 15, 2023.

5. Represents the satisfaction of tax withholding obligations upon the vesting of previously awarded performance stock units.

	/s/ Lawrence C. Bachman, attorney-in-fact for Mr. Betz	08/27/2025
	** 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.
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FAQ

What transactions did Michael Betz report on the ATGE Form 4?

The Form 4 reports issuance of common stock from vested performance stock units and restricted stock units on 08/23/2025 and 08/24/2025, and share dispositions to satisfy tax-withholding obligations.

How many shares did the Form 4 show issued and at what price?

The filing shows issued share amounts including 11,890 and 10,840 shares from payouts, with a reported price of $134.88 per share for the listed transactions.

What were Mr. Betz's reported beneficial ownership totals after the transactions?

Reported beneficial ownership totals in the filing range by line item from 21,985 to 32,825 shares following the reported transactions.

Do these Form 4 entries indicate open-market insider selling?

No. The entries primarily reflect shares issued upon vesting of equity awards and shares withheld to satisfy tax obligations, not open-market discretionary sales.

Which equity awards are referenced in the explanations?

The explanations reference payout of Growth with Purpose (GwP) performance stock units, other performance stock units awarded Feb 15, 2023, and previously awarded restricted stock units.