0000929887-12-000041.txt : 20120705 0000929887-12-000041.hdr.sgml : 20120704 20120705184447 ACCESSION NUMBER: 0000929887-12-000041 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20120702 FILED AS OF DATE: 20120705 DATE AS OF CHANGE: 20120705 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Swartz Brian L CENTRAL INDEX KEY: 0001389351 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-25232 FILM NUMBER: 12949201 MAIL ADDRESS: STREET 1: 4025 S RIVERPOINT PKWY STREET 2: MAIL-STOP CF-KX04 CITY: PHOENIX STATE: AZ ZIP: 85040 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: APOLLO GROUP INC CENTRAL INDEX KEY: 0000929887 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-EDUCATIONAL SERVICES [8200] IRS NUMBER: 860419443 STATE OF INCORPORATION: AZ FISCAL YEAR END: 0831 BUSINESS ADDRESS: STREET 1: 4615 EAST ELWOOD ST CITY: PHOENIX STATE: AZ ZIP: 85040 BUSINESS PHONE: 6029665394 MAIL ADDRESS: STREET 1: 4615 E ELWOOD STREET CITY: PHOENIX STATE: AZ ZIP: 85040 4 1 wf-form4_134152827440545.xml FORM 4 X0306 4 2012-07-02 0 0000929887 APOLLO GROUP INC APOL 0001389351 Swartz Brian L 4025 S. RIVERPOINT PKWY PHOENIX AZ 85040 0 1 0 0 SVP & CFO Class A Common Stock 2012-07-02 4 F 0 728 36.34 D 70522 D Class A Common Stock 2012-07-02 4 A 0 27244 0 A 97766 D Class A Common Stock 2012-07-02 4 A 0 4130 0 A 101896 D Class A Common Stock 2012-07-02 5 A 0 E 10734 0 A 101896 D Non-Qualified Stock Option (right to buy) 36.34 2012-07-02 4 A 0 15328 0 A 2018-07-01 Class A Common Stock 15328.0 15328 D Represents shares of the Issuer's Class A common stock withheld to satisfy the Issuer's tax withholding obligation upon the vesting of restricted stock units (RSUs) and the issuance of the underlying shares of Class A common stock. Includes (i) 19,384 shares of the Issuer's Class A common stock subject to RSUs granted July 6, 2011, (ii) 16,072 shares of the Issuer's Class A common stock subject to RSUs granted January 14, 2011, (iii) 11,364 shares of the Issuer's Class A common stock subject to RSUs granted July 6, 2010, (iv) 2,305 shares of the Issuer's Class A common stock subject to RSUs granted July 2, 2009, and (v) 600 shares of the Issuer's Class A common stock subject to RSUs granted April 3, 2009. The 19,384 shares underlying the July 6, 2011 RSUs will be issued when those units vest (subject to an initial performance-vesting requirement) in four successive equal installments upon the Reporting Person's continuation in service with the Issuer through each of August 31, 2012, July 6, 2013, July 6, 2014 and July 6, 2015 vesting dates. (footnote continued below) (continued from footnote 2 above) The 16,072 shares underlying the January 14, 2011 RSUs will be issued when those units vest in two successive installments over the Reporting Person's period of service with the Issuer through each of the September 15, 2012 and September 15, 2013 vesting dates. The January 14, 2011 RSUs will vest in full on an accelerated basis upon an involuntary termination of the Reporting Person's service without cause. The 11,364 shares underlying the July 6, 2010 RSUs will be issued when those units vest in a series of three successive equal installments upon the Reporting Person's continuation in service with the Issuer through each of the July 6, 2012, July 6, 2013 and July 6, 2014 vesting dates. The 2,305 shares underlying the July 2, 2009 RSUs will be issued when those units vest upon the Reporting Person's continuation in service with the (footnote continued below) (continued from footnote 3 above) Issuer through the July 2, 2013 vesting date. The 600 shares underlying the April 03, 2009 RSUs will be issued when those units vest upon the Reporting Person's continuation in service with the Issuer through the April 03, 2013 vesting date. All of the RSUs are subject to accelerated vesting upon certain changes in ownership or control of the Issuer. Does not include (i) 1,185 shares of the Issuer's Class A common stock subject to the performance share award made to the Reporting Person on October 5, 2011, (ii) 5,796 shares of the Issuer's Class A common stock subject to the performance share award made to the Reporting Person on July 6, 2011 and (iii) 5,349 shares of the Issuer's Class A common stock subject the performance share award made to the Reporting Person on July 6, 2010. Those awards will not actually convert into any shares unless the applicable performance goals are attained at threshold level or above. Represents shares of the Issuer's Class A common stock underlying RSUs awarded to the Reporting Person. The RSUs are subject to both performance-vesting and service-vesting requirements. Should the performance objective be attained, then 25% of the RSUs will vest upon the Reporting Person's continuation in service with the Issuer through August 31, 2013, and the balance will vest in a series of three successive equal annual installments on the second, third and fourth anniversaries of the July 2, 2012 award date, subject to accelerated vesting upon certain changes in ownership or control of the Issuer. The underlying shares of Class A common stock will, in general, be issued as the RSUs vest (footnote continued below). (continued from footnote 5 above) The RSUs also include dividend equivalent rights pursuant to which the Reporting Person will be credited with the same dividends on the shares of the Issuer's Class A common stock underlying the RSU award that the Reporting Person would have received had those shares been actually outstanding at the time any dividends are paid on the Issuer's outstanding Class A common stock. The credited dividends will be paid to the Reporting Person at the same time the vested shares of Class A common stock to which they relate are issued under the RSU award. When the vested shares of the Issuer's Class A common stock become issuable following the satisfaction of the applicable performance-vesting and service-vesting requirements, a portion of those shares will be withheld by the Issuer to cover the applicable withholding taxes. Includes 27,244 shares of the Issuer's Class A common stock subject to the reported RSU award. Represents shares of the Issuer's Class A common stock underlying RSUs awarded to the Reporting Person. The RSUs are subject to both performance-vesting and service-vesting requirements. Should the performance objective be attained, then 20% of the RSUs will vest upon continuation in service through August 31, 2013, and the balance will vest in two successive equal annual installments upon continued service through July 2, 2014 and July 2, 2015, respectively, subject to accelerated vesting upon certain changes in ownership or control of the Issuer. The underlying shares of Class A common stock will, in general, be issued as the RSUs vest. The RSUs also include dividend equivalent rights pursuant to which the Reporting Person will be credited (footnote continued below). (continued from footnote 8 above) with the same dividends on the shares of the Issuer's Class A common stock underlying the RSU award that the Reporting Person would have received had those shares been actually outstanding at the time any dividends are paid on the Issuer's outstanding Class A common stock. The credited dividends will be paid to the Reporting Person at the same time the vested shares of Class A common stock to which they relate are issued under the RSU award. When the vested shares of the Issuer's Class A common stock become issuable following the satisfaction of the applicable performance-vesting and service-vesting requirements, a portion of those shares will be withheld by the Issuer to cover the applicable withholding taxes. Includes 4,130 shares of the Issuer's Class A common stock subject to the reported RSU award. Represents the target number of shares of the Issuer's Class A common stock underlying the performance share award made to the Reporting Person. The performance shares are subject to both performance-vesting and service-vesting requirements. For 75% of the performance shares, the applicable performance requirement is tied to the amount by which the Issuer's adjusted free cash flow for the twelve-month period ending August 31, 2015 exceeds its adjusted free cash flow for the twelve-month period ending August 31, 2012. For the remaining 25% of the performance shares, the applicable performance requirement is tied to the difference (measured in terms of the dollar amount of the positive increase or the negative decline) between the Issuer's net revenue for the twelve-month period ending August 31, 2015 and its (footnote continued below). (continued from footnote 11 above) net revenue for the twelve-month period ending August 31, 2012. The levels at which the various performance goals are attained will determine the actual number of shares of the Issuer's Class A common stock into which the performance shares will be converted. The conversion percentages will range from 0% at threshold level attainment to 100% at target level attainment and 300% at maximum level attainment or above. The Reporting Person will vest in one-third of the shares of the Issuer's Class A common stock into which the performance shares are so converted for each fiscal year within the specified service period (the Issuer's 2013, 2014, and 2015 fiscal years) that the Reporting Person remains in the Issuer's employ. (footnote continued below). (continued from footnote 12 above) However, the performance shares will immediately convert into fully-vested shares of the Issuer's Class A common stock at target level or above upon certain changes in control or ownership of the Issuer. When the vested shares of the Issuer's Class A common stock become issuable following the satisfaction of the applicable performance-vesting and service-vesting requirements, a portion of those shares will be withheld by the Issuer to cover the applicable withholding taxes. The performance share award does not include any dividend equivalent rights Does not include 10,734 shares of the Issuer's Class A common stock subject to the reported performance share award. The option will vest and become exercisable for the underlying shares of the Issuer's Class A common stock in a series of four successive equal annual installments on each of the first four one-year anniversaries of the July 2, 2012 grant date upon the Reporting Person's continuation in service with the Issuer through each such annual vesting date, subject to accelerated vesting upon certain changes in ownership or control of the Issuer. By Brian L. Swartz 2012-07-05