Grand Canyon Education (LOPE) CAO withholds 980 shares to cover tax on vested stock

Rhea-AI Filing Summary

Grand Canyon Education, Inc. chief accounting officer Lori Browning reported a tax-related share disposition. On March 1, she surrendered 980 shares of common stock at $159.07 per share to cover tax liabilities tied to vesting restricted stock, a non‑open‑market transaction. After this withholding, she directly holds 13,328 shares of the company’s stock.

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)
03/01/2026

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	03/01/2026		F		980(1)	D	$159.07	13,328	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 withholding of shares to pay tax liability incident to the vesting of restricted stock.

	/s/ Lori Browning, by Lyn Bickle, as Attorney-in-fact	03/03/2026
	** 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 did Grand Canyon Education (LOPE) executive Lori Browning report on this Form 4?

Lori Browning reported a tax-withholding disposition of 980 Grand Canyon Education common shares. The shares were withheld to cover taxes from vesting restricted stock, rather than sold on the open market, and were priced at $159.07 per share.

How many Grand Canyon Education (LOPE) shares were withheld for Lori Browning’s taxes?

A total of 980 Grand Canyon Education common shares were withheld for Lori Browning’s tax liability. The Form 4 notes this as a tax-withholding disposition tied to the vesting of restricted stock, not a discretionary sale transaction in the open market.

What price per share was used in Lori Browning’s LOPE tax-withholding transaction?

The tax-withholding disposition used a price of $159.07 per Grand Canyon Education share. This price is applied to the 980 withheld shares for reporting purposes, reflecting the value of stock surrendered to satisfy the related tax obligation on vesting restricted stock.

Does Lori Browning still own Grand Canyon Education (LOPE) shares after this Form 4 transaction?

Yes. After the tax-withholding disposition, Lori Browning directly owns 13,328 Grand Canyon Education common shares. The Form 4 lists this as her total direct holdings following the withholding of 980 shares to cover the tax liability from restricted stock vesting.

What is the nature of Lori Browning’s LOPE share disposition reported here?

The disposition is a tax-withholding transaction labeled as code “F” on the Form 4. It represents shares withheld to pay tax liability incident to the vesting of restricted stock, rather than an open-market sale initiated by Lori Browning for investment purposes.

What role does Lori Browning hold at Grand Canyon Education (LOPE) in this Form 4?

Lori Browning is identified as the chief accounting officer of Grand Canyon Education. The Form 4 reports her direct ownership and a tax-withholding disposition of 980 common shares related to the vesting of restricted stock awarded as part of her compensation.