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
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 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
RILEY RICHARD W
(Last) (First) (Middle)
1001 FLEET STREET
(Street)
BALTIMORE MD 21202
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
LAUREATE EDUCATION, INC. [ LAUR ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
04/13/2001
4. If Amendment, Date of Original Filed (Month/Day/Year)
03/10/2004 		6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
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 6,000(7) 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
Options (right to buy) $19 04/13/2001 A 10,000(2) (8) (8) Common Stock 10,000 $0 10,000 D
Options (right to buy) $24.77 06/06/2002 A 5,000(4) (3) 06/06/2012 Common Stock 5,000 $0 15,000 D
Options (right to buy) $23.13 06/17/2003 A 5,000(5) (9) (9) Common Stock 5,000 $0 20,000 D
Options (right to buy) $29.63 (3) 01/03/2014 Common Stock 6,500 26,500 D
Options (right to buy) $44.18 01/03/2005 A 6,500(6) (3) 01/03/2015 Common Stock 6,500 $0 23,000(10) D
Options (right to buy) $50.61 01/03/2006 A 6,500(6) (1) 01/03/2013 Common Stock 6,500 $0 31,000 D
Total Options (right to buy) (12) (12) (12) Common Stock (12) 24,500(11) D
Explanation of Responses:
1. Currently 4,875 options are vested. The remaining options vest monthly and will be fully vested on 1/3/2007.
2. Acquisition of these options was never reported as a transaction. Rather, ownership of these options was reported as a holding on Mr. Riley's Form 3, filed on 6/20/2003 and again on Mr. Riley's Form 4, filed on 3/10/2004. The exercise of all 10,000 options and the disposition of 4,000 of the shares acquired upon exercise was reported as a transaction on Mr. Riley's Form 4, filed on 12/29/2004.
3. All options are currently vested and exercisable.
4. Acquisition of these options was never reported as a transaction. Rather, ownership of these options was reported as a holding on Mr. Riley's Form 3, filed on 6/20/2003 and again on Mr. Riley's Form 4, filed on 3/10/2004.
5. Acquisition of these options was never reported as a transaction. Rather, ownership of these options was reported as a holding on Mr. Riley's Form 3, filed on 6/20/2003 and again on Mr. Riley's Form 4, filed on 3/10/2004. The exercise of all of these options and the disposition of the shares acquired upon exercise was reported as a transaction on Mr. Riley's Form 4, filed on 3/20/2006.
6. Acquisition of these options was never reported as a transaction. Rather, ownership of these options was reported as a holding on Mr. Riley's Form 4, filed on 3/20/2006.
7. Represents the shares remaining after exercise of the 10,000 options acquired 4/13/2001, 4,000 of which were sold on 12/28/2004.
8. Options were exercised on 12/28/2004, as reported on Mr. Riley's Form 4 filed on 12/29/04.
9. Options were exercised on 3/17/2006, as reported on Mr. Riley's Form 4 filed on 3/20/2006.
10. This represents the total number of options held after exercise and sale by Mr. Riley of 10,000 option shares reported on Mr. Riley's Form 4, filed on 12/29/04.
11. Total options held after exercise and sale by Mr. Riley of 5,000 option shares reported on Mr. Riley's Form 4, filed on 3/20/2006.
12. N/A
Richard W. Riley 10/05/2006
** 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).
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