Grand Canyon Education (LOPE) CEO has shares withheld for tax liability

Rhea-AI Filing Summary

Grand Canyon Education, Inc. CEO Brian E. Mueller reported a Form 4 transaction involving company common stock. On March 1, 2026, 4,711 shares were disposed of at $159.07 per share as a tax-withholding disposition related to the vesting of restricted stock. Following this withholding to cover tax liability, Mueller directly owned 295,628 shares of common stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider MUELLER BRIAN E

Role CEO

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	4,711	$159.07	$749K

Holdings After Transaction: Common Stock — 295,628 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^*

MUELLER BRIAN E

(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)

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

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		4,711(1)	D	$159.07	295,628	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/ Brian E. Mueller, 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) CEO Brian Mueller report on this Form 4?

Brian E. Mueller reported a disposition of common stock tied to tax withholding. The transaction reflects shares withheld to cover taxes upon restricted stock vesting, rather than an open-market trade, and updates his direct ownership position in Grand Canyon Education.

How many Grand Canyon Education (LOPE) shares were withheld for taxes in this filing?

A total of 4,711 shares of Grand Canyon Education common stock were withheld. These shares covered the tax liability incident to the vesting of restricted stock, according to the filing’s transaction code F and related explanatory footnote.

What price per share was used in Brian Mueller’s tax-withholding disposition for LOPE?

The filing shows a transaction price of $159.07 per share for the 4,711 shares. This price is used to value the shares withheld to satisfy the tax liability that arose when restricted stock vested for Grand Canyon Education’s CEO.

What is Brian Mueller’s ownership in Grand Canyon Education (LOPE) after this Form 4 transaction?

After the tax-withholding disposition, Brian E. Mueller directly owned 295,628 shares of Grand Canyon Education common stock. This figure reflects his updated direct holdings following the withholding of 4,711 shares to pay the related restricted stock vesting tax liability.

Does this Grand Canyon Education (LOPE) Form 4 indicate an open-market sale by the CEO?

No, the Form 4 describes a tax-withholding disposition coded F. The footnote explains the shares were withheld to pay tax liability related to restricted stock vesting, rather than representing an open-market sale initiated by the CEO.