Strategic Education director receives stock awards

Sasse Benjamin E reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Sasse Benjamin E reported acquisition or exercise transactions in this Form 4 filing.

Strategic Education, Inc. director Benjamin E. Sasse reported receiving two awards of restricted common stock as equity compensation. One award covers 957 shares, and a second award of 1,436 shares was issued in lieu of $80,000 of board cash retainer fees.

Both restricted stock awards will vest in three equal annual installments beginning on April 22, 2027, meaning Sasse gains ownership rights over time rather than immediately. These are compensation-related grants, not open-market stock purchases or sales.

Insider Trade Summary

Grant/Award: 2,393 shares

Grant/Award 2 txns

Insider Sasse Benjamin E

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	1,436	$0.00	$0.00
Grant/Award	Common Stock	957	$83.62	$80K

Holdings After Transaction: Common Stock — 5,084 shares (Direct)

Footnotes (2)

1. F1. Represents an award of restricted stock which will vest in three equal annual installments beginning April 22, 2027.
2. F2. Represents an award of restricted stock issued to the reporting person in lieu of board cash retainer fees of $80,000. The award vests in three equal annual installments beginning April 22, 2027.

Key Figures

Restricted stock grant: 957 shares Restricted stock in lieu of fees: 1,436 shares Board cash retainer replaced: $80,000 +2 more

5 metrics

Restricted stock grant 957 shares Equity award of common stock to director Benjamin E. Sasse

Restricted stock in lieu of fees 1,436 shares Award issued instead of $80,000 board cash retainer fees

Board cash retainer replaced $80,000 Cash fees replaced by 1,436-share restricted stock award

Reference price per share $83.62/share Price associated with 957-share restricted stock award

Vesting start date April 22, 2027 Both restricted stock awards vest over three annual installments

Key Terms

restricted stock, board cash retainer fees, vest, annual installments

4 terms

restricted stock financial

"Represents an award of restricted stock which will vest in three equal annual installments"

Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.

board cash retainer fees financial

"restricted stock issued to the reporting person in lieu of board cash retainer fees of $80,000"

vest financial

"will vest in three equal annual installments beginning April 22, 2027"

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

annual installments financial

"vest in three equal annual installments beginning April 22, 2027"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did STRA director Benjamin Sasse report on this Form 4?

Benjamin E. Sasse reported acquiring two restricted stock awards in Strategic Education, Inc. common stock. One grant covers 957 shares, and another 1,436-share grant was issued instead of $80,000 in board cash retainer fees, both vesting over three years starting April 22, 2027.

Were Benjamin Sasse’s STRA stock transactions open-market buys or compensation grants?

The reported STRA transactions are compensation grants, not open-market purchases. Both are coded as awards of restricted stock, including one grant issued in lieu of $80,000 in board cash retainer fees, with shares vesting in three equal annual installments beginning April 22, 2027.

How many Strategic Education (STRA) shares were granted to Benjamin Sasse?

Benjamin Sasse received two restricted stock grants totaling 957 and 1,436 STRA common shares, respectively. The second grant was specifically issued instead of $80,000 in board cash retainer fees, with both awards subject to three-year, equal annual installment vesting starting April 22, 2027.

What is the vesting schedule for Benjamin Sasse’s STRA restricted stock awards?

Both restricted stock awards to Benjamin Sasse vest in three equal annual installments beginning April 22, 2027. This means he will receive one-third of each award on that date and the remaining thirds on the following two anniversaries, assuming continued service under the grant terms.

Why did Benjamin Sasse receive a STRA stock award tied to $80,000 in fees?

One restricted stock award was issued to Benjamin Sasse in lieu of $80,000 in board cash retainer fees. Instead of being paid that amount in cash, he received 1,436 STRA common shares, aligning part of his director compensation with the company’s equity over time.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/24/2026 - 08:15 PM EDT 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
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^*

Sasse Benjamin E

(Last) (First) (Middle)

2303 DULLES STATION BLVD

(Street)

HERNDON VIRGINIA 20171

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/22/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	04/22/2026		A		1,436(1)	A	$0	4,127	D
Common Stock	04/22/2026		A		957(2)	A	$83.62	5,084	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 an award of restricted stock which will vest in three equal annual installments beginning April 22, 2027.

2. Represents an award of restricted stock issued to the reporting person in lieu of board cash retainer fees of $80,000. The award vests in three equal annual installments beginning April 22, 2027.

	/s/ Daniel W. Jackson, Attorney-in-Fact	04/24/2026
	** 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.
* Form 4: SEC 1474 (03-26)