0000899243-16-035238.txt : 20161209 0000899243-16-035238.hdr.sgml : 20161209 20161209163715 ACCESSION NUMBER: 0000899243-16-035238 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20161207 FILED AS OF DATE: 20161209 DATE AS OF CHANGE: 20161209 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: CAREER EDUCATION CORP CENTRAL INDEX KEY: 0001046568 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-EDUCATIONAL SERVICES [8200] IRS NUMBER: 363932190 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 231 N. MARTINGALE ROAD CITY: SCHAUMBURG STATE: IL ZIP: 60173 BUSINESS PHONE: 8477813600 MAIL ADDRESS: STREET 1: 231 N. MARTINGALE ROAD CITY: SCHAUMBURG STATE: IL ZIP: 60173 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Wang Richard D CENTRAL INDEX KEY: 0001636156 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-23245 FILM NUMBER: 162044464 MAIL ADDRESS: STREET 1: C/O TENZING GLOBAL MANAGEMENT LLC STREET 2: 388 MARKET STREET SUITE 860 CITY: SAN FRANCISCO STATE: CA ZIP: 94111 4 1 doc4.xml FORM 4 SUBMISSION X0306 4 2016-12-07 0 0001046568 CAREER EDUCATION CORP CECO 0001636156 Wang Richard D CAREER EDUCATION CORPORATION 231 N. MARTINGALE ROAD SCHAUMBURG IL 60173 1 0 0 0 Common Stock 2016-12-07 4 S 0 45879 10.2258 D 1424925 I See Footnote Common Stock 2016-12-07 4 S 0 5857 10.2258 D 573339 I See Footnote Common Stock 2016-12-08 4 S 0 70944 10.2303 D 1353981 I See Footnote Common Stock 2016-12-08 4 S 0 9056 10.2303 D 564283 I See Footnote Common Stock 2016-12-09 4 S 0 60533 10.209 D 1293448 I See Footnote Common Stock 2016-12-09 4 S 0 7731 10.209 D 556552 I See Footnote Common Stock 2928 D This transaction was executed in multiple trades at prices ranging from $10.16 to $10.27. The price reported in Column 4 reflects the weighted average purchase price. The reporting person hereby undertakes to provide, upon written request, to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares and prices at which the transactions were effected. The securities are held by Tenzing Global Investors Fund I LP, a Delaware limited partnership ("Fund I"). Tenzing Global Management LLC, a Delaware limited liability company ("Tenzing Global Management"), is the investment advisor of Fund I. Richard Wang is the Managing Member of Tenzing Global Management, and may be deemed to share voting and investment power over the shares held of record by Fund I. Mr. Wang disclaims beneficial ownership of all shares held by the foregoing entities except to the extent of his pecuniary interest therein. The securities are held by accounts managed by Tenzing Global Management on a discretionary basis (the "Parallel Account"). Mr. Wang may be deemed to share voting and investment power over the shares held of record by the Parallel Account. Mr. Wang disclaims beneficial ownership of all shares held by the Parallel Account except to the extent of his pecuniary interest therein. This transaction was executed in multiple trades at prices ranging from $10.06 to $10.25. The price reported in Column 4 reflects the weighted average purchase price. The reporting person hereby undertakes to provide, upon written request, to the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares and prices at which the transactions were effected. Includes 2,928 deferred stock units (each a "DSU") granted pursuant to the Career Education Corporation 2008 Incentive Compensation Plan with each DSU representing a contingent right to receive one share of common stock upon Mr. Wang's termination of service from the Issuer. The DSUs shall vest in three equal installments on March 14 in each of 2016, 2017 and 2018. /s/ Gail B. Rago, pursuant to POA for: Richard D. Wang 2016-12-09