Strategic Education (STRA) general counsel sells 7,598 shares

Rhea-AI Filing Summary

Strategic Education, Inc.'s general counsel, Lizette Benedi Herraiz, reported selling 7,598 shares of common stock in open-market transactions. She sold 2,686 shares at a weighted average price of about $79.54 per share and 4,912 shares at about $80.20 per share.

The sales were carried out under a pre-arranged Rule 10b5-1 trading plan adopted on December 12, 2025, which means the trades were scheduled in advance. After these transactions, she directly owns 58,562 shares, including 605 shares acquired through the company’s 401(k) and employee stock purchase plans.

Insider Trade Summary 10b5-1

Net Seller: 7,598 shares ($607,587)

Net Sell 2 txns

Insider HERRAIZ LIZETTE BENEDI

Role GENERAL COUNSEL

Sold 7,598 shs ($608K)

Type	Security	Shares	Price	Value
Sale	Common Stock	2,686	$79.54	$214K
Sale	Common Stock	4,912	$80.20	$394K

Holdings After Transaction: Common Stock — 63,474 shares (Direct)

Footnotes (1)

1. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 Trading Plan adopted by the reporting person on December 12, 2025. Weighted average share price, as these shares were sold in multiple transactions at prices ranging from $78.97 to $79.96, inclusive. Weighted average share price, as these shares were sold in multiple transactions at prices ranging from $79.97 to $80.47, inclusive. The reporting person undertakes to provide Strategic Education, Inc., any security holder of Strategic Education, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in the footnotes of this Form 4. Includes 605 shares acquired through the Company's 401(k) and Employee Stock Purchase plans.

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).

X

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^*

HERRAIZ LIZETTE BENEDI

(Last) (First) (Middle)

2303 DULLES STATION BLVD

(Street)

HERDON VA 20171

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Strategic Education, Inc. [ STRA ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
03/13/2026

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	03/13/2026		S(1)		2,686	D	$79.54(2)	63,474	D
Common Stock	03/13/2026		S(1)		4,912	D	$80.2(3)	58,562(4)	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. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 Trading Plan adopted by the reporting person on December 12, 2025.

2. Weighted average share price, as these shares were sold in multiple transactions at prices ranging from $78.97 to $79.96, inclusive.

3. Weighted average share price, as these shares were sold in multiple transactions at prices ranging from $79.97 to $80.47, inclusive. The reporting person undertakes to provide Strategic Education, Inc., any security holder of Strategic Education, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in the footnotes of this Form 4.

4. Includes 605 shares acquired through the Company's 401(k) and Employee Stock Purchase plans.

	/s/ Daniel W. Jackson, Attorney-in-Fact	03/16/2026
	** 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 transactions did Strategic Education (STRA) report for Lizette Benedi Herraiz?

Lizette Benedi Herraiz reported selling 7,598 shares of Strategic Education common stock in two open-market transactions. The sales occurred on March 13, 2026, at weighted average prices near $79.54 and $80.20 per share, according to the Form 4 filing details.

At what prices did the Strategic Education (STRA) general counsel sell her shares?

She sold 2,686 shares at a weighted average price of $79.54 and 4,912 shares at $80.20. Footnotes state these represent multiple trades within ranges from $78.97 to $80.47 per share, reflecting execution across several individual transactions during the trading session.

How many Strategic Education (STRA) shares does the general counsel still own after the sale?

After the reported sales, Lizette Benedi Herraiz directly holds 58,562 shares of Strategic Education common stock. This total includes 605 shares acquired through the company’s 401(k) and Employee Stock Purchase plans, as described in the Form 4 ownership footnote disclosure.

Was the Strategic Education (STRA) insider sale made under a Rule 10b5-1 trading plan?

Yes. The filing notes the sales were effected under a Rule 10b5-1 trading plan adopted on December 12, 2025. Such plans pre-schedule trades, indicating these transactions were arranged in advance rather than being discretionary, same-day trading decisions by the insider.

How many total shares did the Strategic Education (STRA) insider sell in this Form 4?

The Form 4 reports aggregate sales of 7,598 Strategic Education common shares. This consists of 2,686 shares sold in one transaction grouping and 4,912 shares in another, both categorized as open-market sales at prices around the $79 to $80 per share range.