X0101 4 2003-07-02 0 0000929887 APOLLO GROUP INC APOL 0001237503 SPERLING JOHN G 1 1 1 0 Chairman Class A Common Stock 2003-07-01 4 J 0 250000 62.0346 D 19680983 D On July 1, 2003, Mr. Sperling entered into a Forward Sale Agreement described in general below: (a)Base Amount:250,000 shares (b)Share Block:1 Block of up to 250,000 shares (c)Maturity Date:6/30/06 (d)Issue Price:$62.0346 (e)Threshold Price:$80.645 (f)Purchase Price:$12,482,912.39 The Agreement provides that Mr. Sperling will deliver potentially up to 250,000 shares on the Maturity Date. The final number of shares delivered is determined by one of three possible Exchange Rates, which are: (a)if the Maturity Price<=the Issue Price, the Exchange Rate will be one; (b)if the Issue Price<=the Maturity Price but<=Threshold Price , the Exchange Rate will be = to the Issue Price divided by the Maturity Price; and (c)if the Threshold Price<=the Maturity Price, the Exchange Rate will be equal to 1 minus a fraction: >the numerator is the Threshold Price minus the Issue Price; and >the denominator is the Maturity Price. In consideration, Mr. Sperling receives the Purchase Price. /s/ John G. Sperling 2003-07-02