0001209191-11-038964.txt : 20110708 0001209191-11-038964.hdr.sgml : 20110708 20110708173734 ACCESSION NUMBER: 0001209191-11-038964 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110706 FILED AS OF DATE: 20110708 DATE AS OF CHANGE: 20110708 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 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: SPERLING PETER V CENTRAL INDEX KEY: 0001213138 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-25232 FILM NUMBER: 11960200 MAIL ADDRESS: STREET 1: 4615 E ELWOOD CITY: PHOENIX STATE: AZ ZIP: 85040 4 1 c19732_4x0.xml MAIN DOCUMENT DESCRIPTION X0303 4 2011-07-06 0000929887 APOLLO GROUP INC APOL 0001213138 SPERLING PETER V 4025 S. RIVERPOINT PKWY PHOENIX AZ 85040 1 1 0 0 Vice Chrmn of the Board Class A Common Stock 2011-07-06 4 S 0 100000 47.2878 D 3420395 D Class A Common Stock 2011-07-06 4 A 0 5624 0 A 3426019 D Class A Common Stock 2011-07-06 5 A 0 E 330 0 A 3426019 D Class A Common Stock 2011-07-06 4 S 0 25000 47.4760 D 975000 I John Sperling 1994 Irrevocable Trust Class A Common Stock 551156 I Peter V. Sperling Revocable Trust Non-Qualified Stock Option (Right to Buy) 47.47 2011-07-06 4 A 0 2472 0 A 2017-07-05 Class A Common Stock 2472 2472 D Represents the weighted average sale price per share. The actual sale prices ranged from a low of $47.00 to a high of $47.51. The Reporting Person will provide upon request by the Securities and Exchange Commission, the Issuer or any security holder of the Issuer full information regarding the number of shares sold at each separate price. Represents shares of the Issuer's Class A common stock underlying restricted stock units ("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, 2012, and the balance will vest in a series of three successive equal annual installments on the second, third and fourth anniversaries of the July 6, 2011 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 2 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. Includes (i) 3,288 shares of the Issuer's Class A common stock subject to RSUs granted on July 6, 2010, (ii) 1,216 shares of the Issuer's Class A common stock subject to RSUs granted July 2, 2009 and (iii) 1,326 shares of the Issuer's Class A common stock subject to RSUs granted July 2, 2009. The 3,288 shares underlying the July 6, 2010 RSUs will be issued as those units vest (subject to an initial performance-vesting requirement) in four successive equal installments on each of the August 31, 2011, July 6, 2012, July 6, 2013 and July 6, 2014 vesting dates. The 1,216 shares underlying the July 2, 2009 RSUs will be issued as those units vest in two successive equal installments on each of the July 2, 2012 and July 2, 2013 vesting dates (footnote continued below). (continued from footnote 4 above) The 1,326 shares underlying the July 2, 2009 RSUs will be issued as those units vest upon the Reporting Person's continuation in service with the Issuer through August 31, 2011. All of the RSUs are subject to accelerated vesting upon certain changes in ownership or control of the Issuer. Does not include the performance share award made to the Reporting Person on July 6, 2010 for 1,161 target shares of the Issuer's Class A common stock that will not actually convert into any such shares unless the applicable performance goal is attained at threshold level or above. Includes 5,624 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. The performance-vesting requirement for 80% of the performance shares is tied to the average of the annual percentage rates of growth or decline in the Issuer's adjusted free cash flow for each of the Issuer's 2012, 2013 and 2014 fiscal years, and the performance-vesting requirements for the remaining 20% are tied to the average credit earned per student for bachelor-degree and associate-degree enrolled students, respectively, over the applicable performance periods. 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 (footnote continued below). (continued from footnote 7 above) The conversion percentages will range from 50% at threshold level attainment to 100% at target level attainment and 200% 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 2012, 2013, and 2014 fiscal years) that the Reporting Person remains in the Issuer's employ. 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 (footnote continued below). (continued from footnote 8 above) 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 330 shares of the Issuer's Class A common stock subject to the reported performance share award. The reported transaction was effected by the John Sperling 1994 Irrevocable Trust of which the Reporting Person is a co-trustee and beneficiary. Represents the weighted average sale price per share. The actual sale prices ranged from a low of $47.44 to a high of $47.51. The Reporting Person will provide upon request by the Securities and Exchange Commission, the Issuer or any security holder of the Issuer full information regarding the number of shares sold at each separate price. By self as co-trustee and beneficiary of the John Sperling 1994 Irrevocable Trust dated April 27, 1994. By self as trustee and beneficiary of the Peter V. Sperling Revocable Trust dated January 31, 1995. 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 6, 2011 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 for Peter V. Sperling 2011-07-08