X0306 4 2020-02-02 0 0001013934 Strategic Education, Inc. STRA 0001747199 HERRAIZ LIZETTE BENEDI 2303 DULLES STATION BLVD HERDON VA 20171 0 1 0 0 General Counsel Common Stock 2020-02-02 4 F 0 1806 162.29 D 16898 D Common Stock 2020-02-03 4 S 0 520 159.99 D 16378 D Common Stock 2020-02-03 4 S 0 1118 160.82 D 15260 D Common Stock 2020-02-03 4 S 0 48 161.60 D 15212 D Common Stock 2020-02-03 4 S 0 455 163.02 D 14757 D Includes 574 shares acquired through the Company's 401(k) and Employee Stock Purchase plans. Weighted average price, as these shares were sold in multiple transactions at prices ranging from $159.40 to $160.25, inclusive. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 Trading Plan adopted by the reporting person on September 12, 2019. Weighted average price, as these shares were sold in multiple transactions at prices ranging from $160.48 to $161.33, inclusive. Weighted average price, as these shares were sold in multiple transactions at prices ranging from $162.87 to $163.06, inclusive. The reporting person undertakes to provide Strategic Education, Inc., any security holder of Strategic Education, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes 2, 3 and 4 of this Form 4. /s/ Daniel W. Jackson, attorney-in-fact 2020-02-04