0001046568-15-000011.txt : 20150311 0001046568-15-000011.hdr.sgml : 20150311 20150311134601 ACCESSION NUMBER: 0001046568-15-000011 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20150306 FILED AS OF DATE: 20150311 DATE AS OF CHANGE: 20150311 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: MCCRAY RONALD D CENTRAL INDEX KEY: 0001239575 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-23245 FILM NUMBER: 15692011 4 1 edgardoc.xml PRIMARY DOCUMENT X0306 4 2015-03-06 0 0001046568 CAREER EDUCATION CORP CECO 0001239575 MCCRAY RONALD D CAREER EDUCATION CORPORATION 231 N. MARTINGALE ROAD SCHAUMBURG IL 60173 1 1 0 0 Interim Pres. & CEO Common Stock 2015-03-06 4 A 0 250000.0 0.0 A 266619 D Cash Settled RSU 2015-03-06 4 A 0 11324.0 0.0 A 2016-03-14 Common Stock 11324 11324 D Restricted stock units granted pursuant to the Career Education Corporation 2008 Incentive Compensation Plan, with each restricted stock unit representing a contingent right to receive one share of common stock. The restricted stock units shall vest on March 14, 2016 based on the level of achievement of an EBITDA performance measure and the number of restricted stock units eligible for vesting will be based on the length of Reporting Person's tenure as Interim President and CEO. Includes 250,000 restricted stock units ("RSU") and 14,619 deferred stock units ("DSU") granted pursuant to the Career Education Corporation 2008 Incentive Compensation Plan, with each RSU representing a contingent right to receive one share of the Issuer's common stock and each DSU representing a contingent right to receive one share of Issuer's common stock upon Reporting Person's termination of service from the Issuer. Each cash-settled RSU is the economic equivalent of one share of Issuer's common stock. This grant of cash-settled RSUs was approved by the Compensation Committee of Issuer's Board of Directors on March 6, 2015. These cash-settled RSUs vest on March 14, 2016 based on the level of achievement of an EBITDA performance measure and the number of restricted stock units eligible for vesting will be based on the length of Reporting Person's tenure as Interim President and CEO. By: Jeffrey D. Ayers For: Ronald D. McCray 2015-03-11