Legacy Education (LGCY) director granted 29,354 options at $9.51

Legacy Education Inc. (LGCY) disclosed a director equity award on a Form 4.

Rhea-AI Filing Summary

Legacy Education Inc. (LGCY) disclosed a director equity award on a Form 4. On October 16, 2025, the reporting person received an option to purchase 29,354 shares of common stock at an exercise price of $9.51 per share. The option vests in equal monthly installments over three years, with the first tranche vesting one month after grant, and carries an expiration date of October 16, 2035. The award was reported as a direct holding and reflects standard director compensation in equity.

Insights

Equity compensation analyst

Routine director option grant; limited immediate impact.

The filing reports a standard equity incentive: an option for 29,354 shares at an exercise price of $9.51, granted on October 16, 2025. Vesting is monthly over three years, aligning director incentives with longer-term company performance.

The grant expires on October 16, 2035, indicating a 10-year term typical for options. Any dilution effect depends on future vesting and exercise decisions; no cash flows occur at grant.

Insider Trade Summary

Grant/Award: 29,354 shares

Grant/Award 1 txn

Insider Marshall Zwade J.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Option (Right to Buy)	29,354	$0.00	$0.00

Holdings After Transaction: Option (Right to Buy) — 29,354 contracts (Direct)

Footnotes (1)

1. F1. On October 16, 2025, the Reporting Person was granted an option ("Option") to purchase up to 29,354 shares of the Registrant's common stock pursuant to the Registrant's Amended and Restated 2021 Equity Incentive Plan. The Option shall vest in equal monthly installments over a three year period with the first tranche vesting on the first month anniversary of the date of grant.

FAQ

What did Legacy Education (LGCY) report in this Form 4?

A director was granted an option to buy 29,354 shares of common stock at $9.51 per share on October 16, 2025.

What is the vesting schedule for the LGCY director option?

It vests in equal monthly installments over three years, starting one month after the grant date.

When does the LGCY option expire?

The option expires on October 16, 2035.

How many shares underlie the reported option grant?

The option covers 29,354 shares of Legacy Education common stock.

What was the exercise price of the LGCY option grant?

The exercise price was $9.51 per share.

Is the holding reported as direct or indirect?

The option was reported as a direct holding.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 10/20/2025 - 06:09 PM Learn about SEC filing dates

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^*

Marshall Zwade J.

(Last) (First) (Middle)

C/O LEGACY EDUCATION INC.

701 W AVENUE K, SUITE 123

(Street)

LANCASTER CA 93534

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Legacy Education Inc. [ LGCY ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
10/16/2025

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

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
Option (Right to Buy)	$9.51	10/16/2025		A		29,354		(1)	10/16/2035	Common Stock	29,354	$0	29,354	D

Explanation of Responses:

1. On October 16, 2025, the Reporting Person was granted an option ("Option") to purchase up to 29,354 shares of the Registrant's common stock pursuant to the Registrant's Amended and Restated 2021 Equity Incentive Plan. The Option shall vest in equal monthly installments over a three year period with the first tranche vesting on the first month anniversary of the date of grant.

	/s/ Zwade J. Marshall	10/20/2025
	** 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.
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.