Apollo Education Group logo

SEC Filings

APOLLO EDUCATION GROUP INC filed this Form DEF 14C on 12/29/2014
Entire Document

and the relevant measurement period will be subject to certain adjustments authorized by the Compensation Committee, and the resulting amount will constitute the adjusted operating free cash flow for the applicable period. Based on the attained performance level, the PSUs will be converted into actual shares of our Class A Common Stock by multiplying the number of PSUs subject to the award by the applicable conversion percentage that will range from 0% for non-attainment to 100% at target level attainment and up to 600% at maximum level attainment or above. The named executive officer will vest in one-third of the shares of our Class A Common Stock into which the PSUs are so converted for each fiscal year within the specified service period (our 2014, 2015 and 2016 fiscal years) that the named executive officer remains employed by the Company.
(31) These RSUs were awarded on August 12, 2014 and will vest in a series of four successive equal annual installments on August 12, 2015, August 12, 2016, August 12, 2017 and August 12, 2018, respectively, upon the named executive officer’s continued employment with the Company through each such annual vesting date.