0001553350-20-000825.txt : 20200902
0001553350-20-000825.hdr.sgml : 20200902
20200902174441
ACCESSION NUMBER: 0001553350-20-000825
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20200831
FILED AS OF DATE: 20200902
DATE AS OF CHANGE: 20200902
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: COTRONEO FRANK J
CENTRAL INDEX KEY: 0001207351
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-38175
FILM NUMBER: 201157781
MAIL ADDRESS:
STREET 1: 4400 MAIN ST
CITY: KANSAS CITY
STATE: MO
ZIP: 64111
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: ASPEN GROUP, INC.
CENTRAL INDEX KEY: 0001487198
STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-EDUCATIONAL SERVICES [8200]
IRS NUMBER: 271933597
STATE OF INCORPORATION: DE
FISCAL YEAR END: 0430
BUSINESS ADDRESS:
STREET 1: 276 FIFTH AVENUE
STREET 2: SUITE 505
CITY: NEW YORK
STATE: NY
ZIP: 10001
BUSINESS PHONE: 646-448-5144
MAIL ADDRESS:
STREET 1: 276 FIFTH AVENUE
STREET 2: SUITE 505
CITY: NEW YORK
STATE: NY
ZIP: 10001
FORMER COMPANY:
FORMER CONFORMED NAME: Elite Nutritional Brands, Inc.
DATE OF NAME CHANGE: 20111011
FORMER COMPANY:
FORMER CONFORMED NAME: Hidden Ladder, Inc.
DATE OF NAME CHANGE: 20100315
4
1
ownership.xml
X0306
4
2020-08-31
0
0001487198
ASPEN GROUP, INC.
ASPU
0001207351
COTRONEO FRANK J
276 FIFTH AVENUE
SUITE 505
NEW YORK
NY
10001
1
1
0
0
Chief Financial Officer
Common Stock
2020-08-31
4
M
0
7500
A
22500
D
Common Stock
2020-08-31
4
F
0
2948
D
19552
D
Common Stock
2020-09-02
4
M
0
18750
A
38302
D
Common Stock
2020-09-02
4
F
0
7369
D
30933
D
Restricted Stock Units
2020-08-31
4
M
0
7500
0.00
D
Common Stock
7500
67500
D
Restricted Stock Units
2020-09-02
4
M
0
18750
0.00
D
Common Stock
18750
48750
D
Represents shares of common stock to be issued upon the vesting of restricted stock units ("RSUs") which vest in four years, subject to accelerated vesting upon the stock price closing at certain higher levels. The first target price was met as of August 31, 2020, and the second target price was met on September 2, 2020. See the Form 4 filed on February 5, 2020 for further details on the vesting target prices.
The shares were surrendered upon vesting to pay the Reporting Person's estimated applicable federal, state and local income taxes, social security taxes and the additional Medicare surtax. The transactions were exempt from Section 16(b) under the Securities Exchange Act of 1934 by virtue of Rule 16b-3 promulgated thereunder as they were pre-approved by both the board of directors and the compensation committee of the board of directors of the Issuer.
Each RSU represents a contingent right to receive one share of the Issuer's common stock.
The RSUs were granted on February 4, 2020 and one-half will fully vest subject to the accelerated vesting on February 4, 2024.
/s/ Frank J. Cotroneo
2020-09-02