Grand Canyon Education (LOPE) CTO receives 2,859-share restricted stock grant

Rhea-AI Filing Summary

Grand Canyon Education, Inc. chief technology officer Dilek Marsh received a grant of 2,859 shares of common stock on January 28, 2026. The filing states this is restricted stock that vests 20% on March 1, 2027 and 20% on each of the next four anniversaries. After this grant, Marsh directly beneficially owns 24,927 common shares.

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

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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^*

Marsh Dilek

(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 TECHNOLOGY 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		2,859	A	$0	24,927	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/ Dilek Marsh, 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 did Grand Canyon Education (LOPE) disclose in this Form 4 for Dilek Marsh?

Grand Canyon Education disclosed that chief technology officer Dilek Marsh received a grant of 2,859 restricted common shares on January 28, 2026. These shares increase Marsh’s directly owned common stock to 24,927 shares following the reported transaction.

How many Grand Canyon Education (LOPE) shares does Dilek Marsh now own?

After the reported grant, chief technology officer Dilek Marsh beneficially owns 24,927 shares of Grand Canyon Education common stock directly. This total includes the newly granted 2,859 restricted shares reported in the January 28, 2026 Form 4 filing.

What are the vesting terms of Dilek Marsh’s new restricted stock grant at LOPE?

The filing states the 2,859 restricted shares vest 20% on March 1, 2027, the “First Vesting Date.” An additional 20% of the grant then vests on each of the first four anniversaries of that First Vesting Date, subject to the grant’s conditions.

What transaction code is used for Dilek Marsh’s LOPE stock grant?

The transaction is coded as "A", indicating an acquisition of securities. The Form 4 shows 2,859 shares of Grand Canyon Education common stock acquired at a price of $0 per share, reflecting a compensatory restricted stock award rather than an open-market purchase.

Is Dilek Marsh’s ownership in Grand Canyon Education direct or indirect?

The Form 4 reports direct ownership for all 24,927 common shares held by chief technology officer Dilek Marsh. The ownership form is listed as "D" (Direct), and no nature of indirect beneficial ownership is specified in the filing’s tables or footnotes.

What role does Dilek Marsh hold at Grand Canyon Education (LOPE)?

The filing identifies Dilek Marsh as an officer of Grand Canyon Education with the title Chief Technology Officer. The Form 4 confirms this role in the relationship section while indicating Marsh is not a director or ten percent beneficial owner.