Director-affiliated funds in Laureate (NASDAQ: LAUR) get 5,308 RSUs as 2026 retainer

Rhea-AI Filing Summary

Snow Ian Kendell reported acquisition or exercise transactions in this Form 4 filing.

LAUREATE EDUCATION, INC. director-affiliated entities reported an indirect equity award rather than an open-market trade. On May 21, 2026, they received 5,308 restricted stock units (RSUs) of common stock at $0.00 per share as part of the 2026 annual retainer for non-employee director service.

The RSUs vest in equal installments on May 21, 2026 and at the end of each remaining calendar quarter of 2026, contingent on continued board service. Following this grant, one indirect holding line shows 20,413 shares of common stock. A separate indirect holding entry reflects 2,167,553 shares, which are held through Wengen Alberta, Limited Partnership.

Footnotes state that several Snow Phipps Group entities beneficially own shares indirectly under contractual arrangements with Ian Kendell Snow, and that he disclaims beneficial ownership beyond his pecuniary interest. The large Wengen position includes interests from multiple affiliated investment funds and other investors.

Insights

Equity compensation analyst

Routine RSU grant to director-affiliated entities with no cash outlay.

The filing shows a 5,308-unit RSU award of Laureate common stock as part of the 2026 non-employee director retainer. The award price is $0.00 per share, consistent with standard equity compensation rather than a market purchase.

The RSUs vest quarterly during 2026, conditioned on continued board service, aligning director incentives with shareholders over the year. Footnotes clarify that various Snow Phipps Group entities and Wengen Alberta, Limited Partnership hold the shares, and that Ian Kendell Snow disclaims beneficial ownership beyond his pecuniary interest.

No derivative exercises, sales, or open-market buys appear in the data, and there is no trading plan reference. As a result, this looks like routine governance-related compensation, not a directional signal about LAUREATE EDUCATION, INC. stock.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Snow Ian Kendell, Snow Phipps Group, L.P., SPG Co-Investment, L.P., Snow Phipps Group (B), L.P., Snow Phipps Group (Offshore), L.P., Snow Phipps Group (RPV), L.P., Snow Phipps Group, LLC

Role null | null | null | null | null | null | null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	5,308	$0.00	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 20,413 shares (Indirect, See footnote)

Footnotes (1)

1. Reflects a grant of 5,308 restricted stock units ("RSUs") as part of the 2026 annual retainer for non-employee director service. The RSUs will vest ratably in equal installments on May 21, 2026 and at the end of each of the remaining calendar quarters of 2026, provided that the Reporting Person continues to serve as a director of the Issuer through the applicable vesting date. Snow Phipps Group, LLC, Snow Phipps Group (Offshore), L.P., Snow Phipps Group (B), L.P., Snow Phipps Group, L.P ., and Snow Phipps Group (RPV), L.P. beneficially own such shares indirectly as a result of contractual arrangements with Mr. Snow. Mr. Snow disclaims beneficial ownership of the securities to the extent it exceeds his pecuniary interest therein and the inclusion of the securities in this report shall not be deemed to be an admission of beneficial ownership of the reported securities for the purposes of Section 16 of the Exchange Act or otherwise. Represents shares of Common Stock held directly by Wengen Alberta, Limited Partnership ("Wengen"), whose general partner is Wengen Investments Limited. Certain investors, including, but not limited to, certain investment funds and other persons affiliated with or managed by Sterling Fund Management, LLC, Cohen Private Ventures, LLC and Snow Phipps Group, LLC have interests in the Issuer through Wengen.

Key Figures

RSU grant size: 5,308 RSUs Grant price: $0.00 per share Post-grant indirect holding: 20,413 shares +3 more

6 metrics

RSU grant size 5,308 RSUs 2026 annual retainer grant on May 21, 2026

Grant price $0.00 per share Price per RSU for 5,308-unit award

Post-grant indirect holding 20,413 shares Indirect common stock holdings following RSU grant

Large indirect position 2,167,553 shares Indirect common stock held through Wengen Alberta, Limited Partnership

Transaction code A Grant, award, or other acquisition of common stock

Vesting schedule year 2026 RSUs vest quarterly during calendar 2026

Key Terms

restricted stock units ("RSUs"), annual retainer, beneficially own, pecuniary interest, +2 more

6 terms

restricted stock units ("RSUs") financial

"Reflects a grant of 5,308 restricted stock units ("RSUs") as part of the 2026 annual retainer"

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

annual retainer financial

"as part of the 2026 annual retainer for non-employee director service"

beneficially own regulatory

"Snow Phipps Group, LLC, ... beneficially own such shares indirectly as a result of contractual arrangements"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

pecuniary interest regulatory

"Mr. Snow disclaims beneficial ownership of the securities to the extent it exceeds his pecuniary interest therein"

Section 16 of the Exchange Act regulatory

"for the purposes of Section 16 of the Exchange Act or otherwise"

non-employee director service financial

"as part of the 2026 annual retainer for non-employee director service"

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
Estimated average burden
hours per response:			0.5

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^*

Snow Ian Kendell

(Last) (First) (Middle)

545 MADISON AVENUE

10TH FLOOR

(Street)

NEW YORK NEW YORK 10022

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
LAUREATE EDUCATION, INC. [ LAUR ]

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

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/21/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	05/21/2026		A		5,308(1)	A	$0.00	20,413	I	See footnote(2)
Common Stock								2,167,553	I	See footnote(3)

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

1. Name and Address of Reporting Person^*

Snow Ian Kendell

(Last) (First) (Middle)

545 MADISON AVENUE

10TH FLOOR

(Street)

NEW YORK NEW YORK 10022

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Snow Phipps Group, L.P.

(Last) (First) (Middle)

545 MADISON AVENUE, 10TH FLOOR

(Street)

NEW YORK NEW YORK 10022

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

SPG Co-Investment, L.P.

(Last) (First) (Middle)

545 MADISON AVENUE, 10TH FLOOR

(Street)

NEW YORK NEW YORK 10022

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Snow Phipps Group (B), L.P.

(Last) (First) (Middle)

545 MADISON AVENUE, 10TH FLOOR

(Street)

NEW YORK NEW YORK 10022

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Snow Phipps Group (Offshore), L.P.

(Last) (First) (Middle)

545 MADISON AVENUE, 10TH FLOOR

(Street)

NEW YORK NEW YORK 10022

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Snow Phipps Group (RPV), L.P.

(Last) (First) (Middle)

545 MADISON AVENUE, 10TH FLOOR

(Street)

NEW YORK NEW YORK 10022

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Snow Phipps Group, LLC

(Last) (First) (Middle)

545 MADISON AVENUE, 10TH FLOOR

(Street)

NEW YORK NEW YORK 10022

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. Reflects a grant of 5,308 restricted stock units ("RSUs") as part of the 2026 annual retainer for non-employee director service. The RSUs will vest ratably in equal installments on May 21, 2026 and at the end of each of the remaining calendar quarters of 2026, provided that the Reporting Person continues to serve as a director of the Issuer through the applicable vesting date.

2. Snow Phipps Group, LLC, Snow Phipps Group (Offshore), L.P., Snow Phipps Group (B), L.P., Snow Phipps Group, L.P ., and Snow Phipps Group (RPV), L.P. beneficially own such shares indirectly as a result of contractual arrangements with Mr. Snow. Mr. Snow disclaims beneficial ownership of the securities to the extent it exceeds his pecuniary interest therein and the inclusion of the securities in this report shall not be deemed to be an admission of beneficial ownership of the reported securities for the purposes of Section 16 of the Exchange Act or otherwise.

3. Represents shares of Common Stock held directly by Wengen Alberta, Limited Partnership ("Wengen"), whose general partner is Wengen Investments Limited. Certain investors, including, but not limited to, certain investment funds and other persons affiliated with or managed by Sterling Fund Management, LLC, Cohen Private Ventures, LLC and Snow Phipps Group, LLC have interests in the Issuer through Wengen.

Remarks:

Exhibit 99.1 - Joint Filer Information and Signatures, incorporated herein by reference.

	See Exhibit 99.1	05/26/2026
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What equity award did LAUR director-affiliated entities report on this Form 4?

They reported a grant of 5,308 restricted stock units (RSUs) of Laureate Education common stock. The RSUs form part of the 2026 annual retainer for non-employee director service and were granted at a price of $0.00 per share, indicating compensation, not a market purchase.

How do the 5,308 RSUs for LAUR vest during 2026?

The 5,308 RSUs vest ratably in equal installments on May 21, 2026 and at the end of each remaining calendar quarter of 2026. Vesting requires that the reporting person continue serving as a director through each applicable vesting date during the year.

Did the LAUR Form 4 show any open-market buys or sells by Ian Kendell Snow?

No open-market purchases or sales are shown. The filing reports an RSU grant coded as an acquisition (A) at $0.00 per share and a separate holding line. The activity reflects equity compensation and updated indirect holdings, not trading in the open market.

What indirect shareholdings related to LAUR are disclosed in this Form 4?

One line reports 20,413 shares of common stock following the RSU grant. Another line shows 2,167,553 shares held indirectly through Wengen Alberta, Limited Partnership. These positions reflect indirect holdings associated with Snow Phipps-related entities and other investors.

How do Snow Phipps Group entities relate to the reported LAUR shares?

Snow Phipps Group, LLC and related limited partnerships beneficially own shares indirectly via contractual arrangements with Ian Kendell Snow. The footnote states Mr. Snow disclaims beneficial ownership of securities beyond his pecuniary interest, limiting how much of these indirect holdings is attributable to him.

What is Wengen Alberta, Limited Partnership’s role in the LAUR holdings?

Wengen Alberta, Limited Partnership directly holds a large block of Laureate common stock referenced in the filing. Its general partner is Wengen Investments Limited, and various investors, including funds affiliated with several managers, have interests in the issuer through Wengen.