Adtalem (ATGE) Form 4: Herrera reports vesting and tax-withholding transactions

Rhea-AI Filing Summary

Adtalem Global Education Inc. (ATGE) reporting person Maurice Herrera, SVP and Chief Marketing Officer, disclosed equity transactions on August 23-24, 2025. The filing shows common stock issued in payout of performance stock units and multiple dispositions to satisfy tax-withholding obligations. Transactions occurred at a reported price of $134.88 per share. The filing lists two issuance events totaling 18,509 shares issued (9,757 and 8,752) and four withholding-related dispositions totaling 11,071 shares disposed (4,979; 880; 734; 4,478), resulting in a net increase of 7,438 shares across the reported dates. The amount of common stock beneficially owned following the final reported transaction is 19,177 shares (direct ownership). The form is signed by an attorney-in-fact for Mr. Herrera on 08/27/2025.

Insights

Securities/Financial Analyst

TL;DR: Insider received vested performance shares and sold portions to cover taxes, leaving a net increase in direct ownership.

The Form 4 documents routine equity compensation activity: two payouts of performance stock units produced 9,757 and 8,752 shares, and four withholding transactions removed shares to satisfy tax obligations. All transactions are at the same reported price of $134.88, consistent with a single close price reference used for tax withholding calculations. Net share change across the two reporting dates is +7,438 shares, leaving 19,177 shares held directly. This is standard post-vesting activity and does not itself indicate change in corporate control or a broad shift in insider conviction.

Compliance / Corporate Governance Analyst

TL;DR: Filing appears complete for the disclosed vesting and withholding events and is properly executed by attorney-in-fact.

The report includes explicit explanations linking each issuance and disposition to performance stock unit payouts and tax withholding for vested RSUs/PSUs. Transaction codes and explanatory footnotes align with standard Form 4 practice. The signature block shows lawful execution by an attorney-in-fact dated 08/27/2025. No regulatory exceptions, amendments, or corrective disclosures are present in the provided content.

Insider Trade Summary

6 transactions reported

Mixed 6 txns

Insider Herrera Maurice

Role SVP - Chief Marketing Officer

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	734	$134.88	$99K
Grant/Award	Common Stock	8,752	$134.88	$1.18M
Tax Withholding	Common Stock	4,478	$134.88	$604K
Grant/Award	Common Stock	9,757	$134.88	$1.32M
Tax Withholding	Common Stock	4,979	$134.88	$672K
Tax Withholding	Common Stock	880	$134.88	$119K

Holdings After Transaction: Common Stock — 14,903 shares (Direct)

Footnotes (1)

1. Common stock issued in payout of Growth with Purpose ("GwP") performance stock units awarded on August 23, 2023. Represents the satisfaction of tax withholding obligations upon the vesting of the GwP performance stock units. Represents the satisfaction of tax withholding obligations upon the vesting of previously awarded restricted stock units. Common stock issued in payout of performance stock units awarded on February 15, 2023. Represents the satisfaction of tax withholding obligations upon the vesting of previously awarded performance stock units.

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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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^*

Herrera Maurice

(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)
	SVP - Chief Marketing Officer

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		9,757(1)	A	$134.88	21,496	D
Common Stock	08/23/2025		F		4,979(2)	D	$134.88	16,517	D
Common Stock	08/23/2025		F		880(3)	D	$134.88	15,637	D
Common Stock	08/24/2025		F		734(3)	D	$134.88	14,903	D
Common Stock	08/24/2025		A		8,752(4)	A	$134.88	23,655	D
Common Stock	08/24/2025		F		4,478(5)	D	$134.88	19,177	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. Herrera	08/27/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What transactions did Maurice Herrera (ATGE) report on Form 4?

The Form 4 reports stock issued from performance stock unit payouts on 08/23/2025 and 08/24/2025, and four dispositions to satisfy tax withholding on those vestings.

How many shares were acquired and at what price in the ATGE Form 4?

The filing shows 18,509 shares issued (9,757 and 8,752) acquired in payouts, with a reported transaction price of $134.88 per share.

How many shares were disposed to cover taxes in the ATGE filing?

Four withholding-related dispositions totaled 11,071 shares (4,979; 880; 734; 4,478) as disclosed in the Form 4.

What is Maurice Herrera's beneficial ownership after these transactions?

Following the reported transactions, the Form 4 shows 19,177 shares beneficially owned directly by Mr. Herrera.

Who signed the Form 4 for Maurice Herrera and when?

The Form 4 is signed by Lawrence C. Bachman, attorney-in-fact for Mr. Herrera, dated 08/27/2025.