X0305 4 2012-03-30 0 0001305323 Bridgepoint Education Inc BPI 0001453871 Ashbrook Thomas 13500 EVENING CREEK DRIVE NORTH SUITE 600 SAN DIEGO CA 92128 0 1 0 0 SVP, Chief Information Officer Stock Option (right to buy) 24.75 2012-03-30 4 A 0 38870 0.00 A 2022-03-30 Common Stock 38870 38870 D Subject to the reporting person's continuing service, this option vests and becomes exercisable as follows: (i) 25% of the shares subject to the option shall vest and become exercisable on the first anniversary of the vesting commencement date, (ii) an additional 2% of the shares subject to the option shall vest and become exercisable on each monthly anniversary of the vesting commencement date for the thirty-three months following the first anniversary of the vesting commencement date and (iii) an additional 3% of the shares subject to the option shall vest and become exercisable on each of the 46th, 47th and 48th monthly anniversaries of the vesting commencement date. The vesting commencement date for this option is March 30, 2012. /s/ Diane L. Thompson, as Attorney-in-Fact 2012-03-30