Grand Canyon Education (LOPE) grants 1,442 restricted shares to its CAO

Rhea-AI Filing Summary

Grand Canyon Education, Inc. reported that Chief Accounting Officer Lori Browning received a grant of 1,442 shares of common stock on January 28, 2026 at a price of $0 per share.

After this award, she directly owns 14,308 common shares. The restricted stock vests 20% on March 1, 2027 and 20% on each of the next four anniversaries of that date.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Browning Lori

Role CHIEF ACCOUNTING OFFICER

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	1,442	$0.00	--

Holdings After Transaction: Common Stock — 14,308 shares (Direct)

Footnotes (1)

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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^*

Browning Lori

(Last) (First) (Middle)

2600 W. CAMELBACK ROAD

(Street)

PHOENIX AZ 85017

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
01/28/2026

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(1)	01/28/2026		A		1,442	A	$0	14,308	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 vest 20% on March 1, 2027 (the "First Vesting Date") and 20% on each of the first four anniversaries of the First Vesting Date.

	/s/ Lori Browning, by Lyn Bickle, as Attorney-in-fact	01/30/2026
	** 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.

FAQ

What insider transaction did Grand Canyon Education (LOPE) report on this Form 4?

Grand Canyon Education reported a grant of 1,442 shares of common stock to its Chief Accounting Officer, Lori Browning, on January 28, 2026 at $0 per share. This is an equity compensation award, not an open-market purchase or sale.

Who is Lori Browning in relation to Grand Canyon Education (LOPE)?

Lori Browning is the Chief Accounting Officer of Grand Canyon Education, Inc. The Form 4 identifies her as an officer, not a director or 10% owner. The reported transaction reflects stock granted to her as part of her compensation package.

How many LOPE shares did Lori Browning receive and how many does she now hold?

Lori Browning received a grant of 1,442 shares of common stock. Following this award, she beneficially owns 14,308 common shares directly. These figures come from the Form 4’s non-derivative securities table for Grand Canyon Education, Inc.

How do the restricted stock awards for Lori Browning vest at Grand Canyon Education (LOPE)?

The 1,442-share restricted stock grant vests 20% on March 1, 2027, called the First Vesting Date. An additional 20% vests on each of the first four anniversaries of that date, creating a five-year vesting schedule tied to continued service.

Did Lori Browning pay anything for the restricted shares of Grand Canyon Education (LOPE)?

According to the Form 4, the 1,442 restricted shares were granted at a price of $0 per share. This indicates they were issued as part of an equity compensation arrangement, rather than purchased in the open market for cash consideration.

Is Lori Browning’s ownership in Grand Canyon Education (LOPE) direct or indirect?

The Form 4 lists Lori Browning’s 14,308 common shares as held with direct ownership. No footnotes indicate indirect holding entities, such as trusts or LLCs, so the reported beneficial ownership is attributed directly to her in this filing.