0001181431-15-002449.txt : 20150213 0001181431-15-002449.hdr.sgml : 20150213 20150213160507 ACCESSION NUMBER: 0001181431-15-002449 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20150211 FILED AS OF DATE: 20150213 DATE AS OF CHANGE: 20150213 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: STEFFEY SCOTT W CENTRAL INDEX KEY: 0001256122 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-23245 FILM NUMBER: 15614289 MAIL ADDRESS: STREET 1: C/O CAREER EDUCATION CORPORATION STREET 2: 231 N. MARTINGALE ROAD CITY: SCHAUMBURG STATE: IL ZIP: 60173 4 1 rrd422402.xml S STEFFEY EXIT FORM 4 X0306 4 2015-02-11 1 0001046568 CAREER EDUCATION CORP CECO 0001256122 STEFFEY SCOTT W CAREER EDUCATION CORPORATION 231 N. MARTINGALE ROAD SCHAUMBURG IL 60173 1 1 0 0 CEO & President Common Stock 2015-02-11 4 D 0 110092 0.00 D 41000 D Non-Qualified Stock Option (right to buy) 2.20 2015-02-11 4 D 0 450000 0.00 D 2023-04-08 Common Stock 450000 0 D Non-Qualified Stock Option (right to buy) 6.81 2015-02-11 4 D 0 300252 0.00 D 2024-03-13 Common Stock 300252 0 D Cash-Settled RSU 2015-02-11 4 D 0 187500 0.00 D 2017-03-14 Common Stock 187500 0 D Cash-Settled RSU 2015-02-11 4 D 0 78409 0.00 D 2017-03-14 Common Stock 78409 0 D Stock Appreciation Right 2.20 2015-02-11 4 D 0 50000 0.00 D 2023-04-08 Common Stock 50000 0 D Stock Appreciation Right 2.20 2015-02-11 4 D 0 144628 0.00 D 2023-04-08 Common Stock 144628 0 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. Securities forfeited in connection with Reporting Person's separation from the Issuer. Reporting Person and Issuer entered into a Separation and Release Agreement effective as of February 12, 2015 pursuant to which Issuer will pay Reporting Person $2.5 million in consideration for the cancellation of Reporting Person's outstanding equity and incentive awards, vested and unvested, including these securities, and taking into account other items. Not applicable due to forfeiture. Each cash-settled RSU is the economic equivalent of one share of Issuer's common stock. Gail B. Rago as Power of Attorney for Scott W. Steffey 2015-02-13