X0206 3 2018-01-01 0 0000912766 LAUREATE EDUCATION, INC. LAUR 0001725152 Hurtado Juan Jose 650 S. EXETER STREET 12TH FLOOR BALTIMORE MD 21202 1 SVP Operations Class B Common Stock Class A Common Stock 341 D Restricted Stock Units 2018-06-17 Class B Common Stock 8875 D Employee Stock Option (Right to Buy) 31.20 2022-06-07 Class B Common Stock 42500 D Employee Stock Option (Right to Buy) 17.44 2023-10-02 Class B Common Stock 2068 D Performance Share Units Class B Common Stock 20000 D Each share of Class B Common Stock of Laureate Education, Inc. (the "Company") is convertible into one share of Class A Common Stock of the Company upon the election of the holder or upon transfer, subject to the terms of the Company's Amended and Restated Certificate of Incorporation. Each Restricted Stock Unit ("RSU") represents the right to receive one share of Class B Common Stock. On the vesting date, the reporting person will be issued a corresponding number of shares of Class B Common Stock. Subject to the reporting person's continued employment, all of these RSUs will vest on June 17, 2018. These options are fully vested and exercisable immediately. Subject to the reporting person's continued employment by the Company, Performance Share Units (PSUs) will vest in one-third annual tranches on each of December 31, 2018, December 31, 2019, and December 31, 2020, provided that the average closing price per share of the Company's Class A Common Stock as reported on the NASDAQ Global Select Market over the thirty (30) day period preceding those dates is equal to or greater than (i) $20 for those PSUs vesting on December 31, 2018, (ii) $22.50 for those PSUs vesting on December 31, 2019, and (iii) $25 for those PSUs vesting on December 31, 2020. Should the thirty day trailing average fall short of these targets for either December 31, 2018, December 31, 2019, or both, the PSUs for the year(s) in which the target is missed may vest if the trailing average target is achieved in the succeeding year. /s/ Sean P. Mulcahy, Attorney-in-Fact 2018-01-11