325 Capital trims American Public Education (APEI) stake with March share sales
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
325 Capital LLC and affiliated reporting persons disclosed open‑market sales of 184,259 shares of American Public Education, Inc. common stock from March 16–18, 2026, at prices around $55–$56 per share.
Following these sales, they report 996,746 shares of common stock held directly, plus additional indirect holdings of 347,498 shares by 325 Capital Master Fund LP and 23,245 shares by Michael D. Braner as of March 16, 2026. The reporting persons disclaim beneficial ownership beyond their pecuniary interests.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 184,259 shares ($10,237,844)
Net Sell
5 txns
Insider
325 CAPITAL LLC, 325 Capital Master Fund LP, 325 Capital GP, LLC, FRIEDBERG DANIEL M., Shrivastava Anil K
Role
Insider | Insider | Insider | Insider | Insider
Sold
184,259 shs ($10.24M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common stock, $.01 par value | 63,500 | $55.4126 | $3.52M |
| Sale | Common stock, $.01 par value | 58,797 | $55.8452 | $3.28M |
| Sale | Common stock, $.01 par value | 61,962 | $55.4471 | $3.44M |
| holding | Common stock, $.01 par value | -- | -- | -- |
| holding | Common stock, $.01 par value | -- | -- | -- |
Holdings After Transaction:
Common stock, $.01 par value — 996,746 shares (Direct);
Common stock, $.01 par value — 23,245 shares (Indirect, By: Michael D. Braner)
Footnotes (1)
- This Form 4 is being filed jointly by 325 Capital Master Fund LP, a Cayman Islands exempted limited partnership ("325 Master Fund"), 325 Capital GP, LLC, a Delaware limited liability company registered as a foreign partnership in the Cayman Islands ("325 Capital GP"), 325 Capital LLC, a Delaware limited liability company ("325"), Michael Braner, a United States citizen, Daniel Friedberg, a United States citizen, and Anil Shrivastava, a United States citizen (collectively, the "Reporting Persons"). Each Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein, and this report shall not be deemed to be an admission that any Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose. Securities owned directly by certain separately managed accounts ("SMAs") that are deemed beneficially owned by 325 as a result of 325 serving as the investment manager to such SMAs. Each of Messrs. Braner, Friedberg and Shrivastava are Managing Members of 325. As a result of these relationships, they may be deemed to beneficially own the securities beneficially owned by 325. Mr. Braner serves on the Board of Directors of the Issuer (the "Board") as a representative of 325 and its affiliates, 325 is entitled to receive the direct economic interest in securities granted to Mr. Braner by the Issuer in respect of Mr. Braner's Board membership. Mr. Braner disclaims beneficial ownership of the Issuer's securities to which this report relates, and at no time has Mr. Braner had any economic interest in such securities except any indirect economic interest through 325 and its affiliates. Securities owned directly by 325 Master Fund. 325 Capital GP is the general partner of 325 Master Fund, 325 is the investment manager to 325 Master Fund, and each of Messrs. Braner, Friedberg and Shrivastava are Managing Members of 325. As a result of these relationships, all of the Reporting Persons may be deemed to beneficially own the securities owned directly by 325 Master Fund.
FAQ
Were the reported APEI transactions open‑market sales or another type?
Each of the three transactions with code S is identified as an open‑market or private sale of common stock. The filing labels them as non‑derivative sales, with specific share amounts and average prices, rather than option exercises, gifts, or tax‑withholding events.
Who are the reporting persons in this APEI Form 4 filing?
The filing lists 325 Capital Master Fund LP, 325 Capital GP, LLC, 325 Capital LLC, and individuals Michael Braner, Daniel Friedberg, and Anil Shrivastava as reporting persons. They collectively report these holdings and transactions and disclaim beneficial ownership beyond their pecuniary interests.
Does this APEI Form 4 involve any derivative securities or option exercises?
No derivative securities are reported in this Form 4. The transactions involve only non‑derivative common stock, with no option exercises, conversions, or other derivative events listed in the derivative section or in the summarized transaction counts.