0000899243-16-035238.txt : 20161209
0000899243-16-035238.hdr.sgml : 20161209
20161209163715
ACCESSION NUMBER: 0000899243-16-035238
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20161207
FILED AS OF DATE: 20161209
DATE AS OF CHANGE: 20161209
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: CAREER EDUCATION CORP
CENTRAL INDEX KEY: 0001046568
STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-EDUCATIONAL SERVICES [8200]
IRS NUMBER: 363932190
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 231 N. MARTINGALE ROAD
CITY: SCHAUMBURG
STATE: IL
ZIP: 60173
BUSINESS PHONE: 8477813600
MAIL ADDRESS:
STREET 1: 231 N. MARTINGALE ROAD
CITY: SCHAUMBURG
STATE: IL
ZIP: 60173
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Wang Richard D
CENTRAL INDEX KEY: 0001636156
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-23245
FILM NUMBER: 162044464
MAIL ADDRESS:
STREET 1: C/O TENZING GLOBAL MANAGEMENT LLC
STREET 2: 388 MARKET STREET SUITE 860
CITY: SAN FRANCISCO
STATE: CA
ZIP: 94111
4
1
doc4.xml
FORM 4 SUBMISSION
X0306
4
2016-12-07
0
0001046568
CAREER EDUCATION CORP
CECO
0001636156
Wang Richard D
CAREER EDUCATION CORPORATION
231 N. MARTINGALE ROAD
SCHAUMBURG
IL
60173
1
0
0
0
Common Stock
2016-12-07
4
S
0
45879
10.2258
D
1424925
I
See Footnote
Common Stock
2016-12-07
4
S
0
5857
10.2258
D
573339
I
See Footnote
Common Stock
2016-12-08
4
S
0
70944
10.2303
D
1353981
I
See Footnote
Common Stock
2016-12-08
4
S
0
9056
10.2303
D
564283
I
See Footnote
Common Stock
2016-12-09
4
S
0
60533
10.209
D
1293448
I
See Footnote
Common Stock
2016-12-09
4
S
0
7731
10.209
D
556552
I
See Footnote
Common Stock
2928
D
This transaction was executed in multiple trades at prices ranging from $10.16 to $10.27. The price reported in Column 4 reflects the weighted average purchase price. The reporting person hereby undertakes to provide, upon written request, to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares and prices at which the transactions were effected.
The securities are held by Tenzing Global Investors Fund I LP, a Delaware limited partnership ("Fund I"). Tenzing Global Management LLC, a Delaware limited liability company ("Tenzing Global Management"), is the investment advisor of Fund I. Richard Wang is the Managing Member of Tenzing Global Management, and may be deemed to share voting and investment power over the shares held of record by Fund I. Mr. Wang disclaims beneficial ownership of all shares held by the foregoing entities except to the extent of his pecuniary interest therein.
The securities are held by accounts managed by Tenzing Global Management on a discretionary basis (the "Parallel Account"). Mr. Wang may be deemed to share voting and investment power over the shares held of record by the Parallel Account. Mr. Wang disclaims beneficial ownership of all shares held by the Parallel Account except to the extent of his pecuniary interest therein.
This transaction was executed in multiple trades at prices ranging from $10.06 to $10.25. The price reported in Column 4 reflects the weighted average purchase price. The reporting person hereby undertakes to provide, upon written request, to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares and prices at which the transactions were effected.
Includes 2,928 deferred stock units (each a "DSU") granted pursuant to the Career Education Corporation 2008 Incentive Compensation Plan with each DSU representing a contingent right to receive one share of common stock upon Mr. Wang's termination of service from the Issuer. The DSUs shall vest in three equal installments on March 14 in each of 2016, 2017 and 2018.
/s/ Gail B. Rago, pursuant to POA for: Richard D. Wang
2016-12-09