Transaction Details

Footnotes

Consists of restricted stock units granted under the Phoenix Education Partners, Inc. 2025 Omnibus Incentive Plan (the "Omnibus Incentive Plan") that will vest and become exercisable for shares of the Issuer's common stock in accordance with the following: (i) 1/3 of such units shall vest on the first anniversary of the date of grant and (ii) the remaining 2/3 of such units shall vest in eight?equal installments on each three-month anniversary thereafter over two years. | Consists of stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") that became exercisable for shares of the Issuer's common stock in connection with the closing of the Issuer's initial public offering (the "IPO"). | Consists of (i) 29,445 stock options granted under the University Equity Plan that became exercisable for shares of the Issuer's common stock in connection with the closing of the IPO and (ii) 73,224 stock options granted under the University Equity Plan that vest and become exercisable for shares of the Issuer's common stock on the twelve-month anniversary of the closing of the IPO.