Grand Canyon Education CLO reports tax share withholding

Grand Canyon Education, Inc. Chief Legal Officer Sarah S. Collins reported a tax-related share disposition.

Rhea-AI Filing Summary

Grand Canyon Education, Inc. Chief Legal Officer Sarah S. Collins reported a tax-related share disposition. On the vesting of restricted stock, 127 shares of common stock were withheld at $159.07 per share to cover tax liabilities, leaving her with 3,734 shares of common stock held directly.

Insider Trade Summary

Exercise Price or Tax Liability: 127 shares

Exercise Price or Tax Liability 1 txn

Insider Collins Sarah S.

Role Chief Legal Officer

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Common Stock	127	$159.07	$20K

Holdings After Transaction: Common Stock — 3,734 shares (Direct)

Footnotes (1)

1. F1. Represents withholding of shares to pay tax liability incident to the vesting of restricted stock.

FAQ

What did LOPE insider Sarah S. Collins report on this Form 4?

Sarah S. Collins reported a tax-related share disposition. 127 shares of Grand Canyon Education common stock were withheld to satisfy tax liabilities arising from restricted stock vesting, a routine administrative transaction rather than an open-market sale or purchase.

How many LOPE shares were withheld for taxes in this transaction?

127 shares were withheld for taxes. The filing shows 127 shares of Grand Canyon Education common stock withheld at a price of $159.07 per share to cover tax liabilities tied to the vesting of restricted stock awards.

What type of transaction is code F on the LOPE Form 4?

Code F reflects a tax-withholding disposition. In this case, shares of Grand Canyon Education common stock were delivered to cover tax liability from restricted stock vesting, not sold in the open market for investment purposes.

How many LOPE shares does Sarah S. Collins hold after this filing?

She directly holds 3,734 shares after the transaction. Following the withholding of 127 shares for tax purposes, the Form 4 reports that Collins’ direct ownership in Grand Canyon Education common stock totals 3,734 shares.

Does this LOPE Form 4 indicate an open-market sale by the insider?

No, it indicates tax withholding, not an open-market sale. The transaction is described as shares withheld to satisfy tax liability associated with restricted stock vesting, classified as a tax-withholding disposition under transaction code F.

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Accepted by SEC EDGAR 03/03/2026 - 04:40 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
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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^*

Collins Sarah S.

(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 Legal 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		127(1)	D	$159.07	3,734	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/ Sarah S. Collins, 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.