Grand Canyon Education director granted 498 shares

Grand Canyon Education, Inc. director Lisa Graham Keegan reported an acquisition of company stock through equity compensation.

Rhea-AI Filing Summary

Grand Canyon Education, Inc. director Lisa Graham Keegan reported an acquisition of company stock through equity compensation. She received a grant of 498 shares of common stock at $0.00 per share as a restricted stock award, bringing her direct holdings to 3,579 shares.

The restricted stock vests on the earlier of June 9, 2027 or immediately before the company’s 2027 annual stockholders' meeting. This is a non-market, compensation-related award, not an open-market purchase, and represents routine director equity compensation rather than a discretionary trade.

Insider Trade Summary

Grant/Award: 498 shares

Grant/Award 1 txn

Insider Keegan Lisa Graham

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	498	$0.00	$0.00

Holdings After Transaction: Common Stock — 3,579 shares (Direct)

Footnotes (1)

1. F1. Represents a grant of restricted stock that vests on the earlier of June 9, 2027 or immediately prior to the 2027 annual stockholders' meeting.

Key Figures

Restricted stock grant: 498 shares Grant price: $0.00 per share Shares held after grant: 3,579 shares +1 more

4 metrics

Restricted stock grant 498 shares Common Stock award on June 10, 2026

Grant price $0.00 per share Restricted stock compensation grant

Shares held after grant 3,579 shares Total direct holdings following transaction

Vesting date June 9, 2027 Earlier of this date or before 2027 annual meeting

Key Terms

restricted stock, vests, annual stockholders' meeting, Grant, award, or other acquisition

4 terms

restricted stock financial

"Represents a grant of restricted stock that vests on the earlier of June 9, 2027"

Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.

vests financial

"restricted stock that vests on the earlier of June 9, 2027 or immediately prior"

annual stockholders' meeting financial

"or immediately prior to the 2027 annual stockholders' meeting"

Grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did LOPE director Lisa Graham Keegan report?

Lisa Graham Keegan reported receiving 498 shares of Grand Canyon Education common stock as a restricted stock grant. The award is compensation-related, priced at $0.00 per share, and increases her direct holdings to 3,579 shares rather than reflecting an open-market purchase.

When do Lisa Graham Keegan’s new LOPE restricted shares vest?

The 498 restricted shares vest on the earlier of June 9, 2027 or immediately before Grand Canyon Education’s 2027 annual stockholders’ meeting. Vesting timing links the award to continued board service and the company’s regular annual meeting schedule.

How many LOPE shares does Lisa Graham Keegan hold after this Form 4?

After the grant, Lisa Graham Keegan directly holds 3,579 shares of Grand Canyon Education common stock. This total includes the 498-share restricted stock award reported in the filing, which will vest based on the stated time and meeting-related conditions.

Was Lisa Graham Keegan’s LOPE transaction an open-market purchase or sale?

The transaction was not an open-market purchase or sale. It was coded as a grant or award, with 498 restricted shares issued at $0.00 per share as part of director compensation, rather than a trade executed on a stock exchange.

What does transaction code "A" mean in Lisa Graham Keegan’s LOPE Form 4?

Transaction code “A” indicates a grant, award, or other acquisition of securities. In this case, Lisa Graham Keegan acquired 498 restricted shares of Grand Canyon Education common stock as equity compensation, subject to vesting conditions tied to the 2027 time frame and annual meeting.

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

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Accepted by SEC EDGAR 06/11/2026 - 04:25 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^*

Keegan Lisa Graham

(Last) (First) (Middle)

2600 W. CAMELBACK ROAD

(Street)

PHOENIX ARIZONA 85017

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Grand Canyon Education, Inc. [ LOPE ]

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)
06/10/2026

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

X	Form filed by One Reporting Person
	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(1)	06/10/2026		A		498	A	$0	3,579	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. Represents a grant of restricted stock that vests on the earlier of June 9, 2027 or immediately prior to the 2027 annual stockholders' meeting.

	/s/ Lisa Graham Keegan, by Lyn Bickle, as Attorney-in-fact	06/11/2026
	** 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)