X0306 4/A 2020-03-04 2020-03-06 0001201792 AMERICAN PUBLIC EDUCATION INC APEI 0001777082 Gay Robert E. 111 WEST CONGRESS STREET CHARLES TOWN WV 25414 0 1 0 0 SVP, COO, APUS Common Stock, par value $.01 2020-03-04 4 A 0 606 0 A 13111 D Common Stock, par value $.01 2020-03-04 4 F 0 62 23.65 D 13049 D This amendment is being filed to correct a clerical error in the number of securities acquired and to report withholding of shares to pay tax withholding obligations. Performance-based deferred stock ("PSU") unit award pursuant to the American Public Education, Inc. 2017 Omnibus Incentive Plan. Award reflects a level of achievement of adjusted EBITDA and revenue performance measures for the issuer's fiscal year ended December 31, 2019. Award vests in three equal installments, with one third vesting on March 4, 2020, one third vesting on January 21, 2021, and one third vesting on January 21, 2022. The issuer withheld shares of Common Stock from the reporting person to pay the tax withholding obligations related to the vesting of PSUs. /s/ Richard W. Sunderland, Jr., Attorney-in-Fact 2020-03-09