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*
SHANK STEPHEN G

(Last) (First) (Middle)
225 SOUTH 6TH STREET, 9TH FLOOR

(Street)
MINNEAPOLIS MN 55402

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
CAPELLA EDUCATION CO [ CPLA ]
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)
10/08/2015
4. If Amendment, Date of Original Filed (Month/Day/Year)
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 10/08/2015 S 36,466 D $52.9225 (1) 283,888 (2) I By Trust (3)
Common stock 10/09/2015 S 15,200 D $52.961 (4) 268,688 (2) I By Trust (3)
Common stock 10/12/2015 S 26,205 D $52.9297 (5) 242,483 (2) I By Trust (3)
Common stock 10/13/2015 S 5,000 D $52.7596 (6) 237,483 (2) I By Trust (3)
Common stock 16,850 I By Trust (7)
Common stock 79,600 I By Trust (8)
Common stock 114,544 I By Spouse's Trust (9)
Common stock 79,600 I By Spouse's Trust (10)
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
Explanation of Responses:
1. Reflects the weighted average sale price for sales made in the normal course of business on October 8, 2015 at prices ranging from $51.87 to $53.35. The reporting person under takes to provide upon request by the U.S. Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer full information regarding the number of shares sold at each separate price.
2. Beneficially owned securities include 1,727 shares of common stock deferred on May 1, 2015 at the election of the reporting person. These deferred shares may be settled at the time the reporting person leaves the board or the company experiences a change in control.
3. Shares held by the Stephen G. Shank Revocable Trust.
4. Reflects the weighted average sale price for sales made in the normal course of business on October 9, 2015 at prices ranging from $52.28 to $53.29. The reporting person under takes to provide upon request by the U.S. Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer full information regarding the number of shares sold at each separate price.
5. Reflects the weighted average sale price for sales made in the normal course of business on October 12, 2015 at prices ranging from $52.66 to $53.145. The reporting person under takes to provide upon request by the U.S. Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer full information regarding the number of shares sold at each separate price.
6. Reflects the weighted average sale price for sales made in the normal course of business on October 13, 2015 at prices ranging from $52.17 to $53.94. The reporting person under takes to provide upon request by the U.S. Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer full information regarding the number of shares sold at each separate price.
7. Shares held by the Shank Family 2013 Generation Skipping Trust.
8. Shares held by the Stephen G. Shank Sept. 2013 7-Yr Grantor Retained Annuity Trust.
9. Shares held by the Judith F. Shank Revocable Trust.
10. Shares held by the Judith F. Shank Sept 2013 7-Yr Grantor Retained Annuity Trust.
Remarks:
/s/ Cristy Siede, Attorney-in-Fact for Stephen G. Shank 10/13/2015
** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.