Naumann Cheryl M.

SEC source: 0000950142-26-002740 · es260842134_4-naumann.xml · nonDerivative · entry 1

Naumann Cheryl M. · CIK 0002085225 · Chief Human Resources Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 58,003

F1 · kind: Represents shares of the Issuer's common stock withheld by the Issuer to satisfy tax withholding obligations in connection with the vesting of restricted stock units.

SEC source: 0000950142-26-002444 · es260824607_4-naumann.xml · derivative · entry 3

Naumann Cheryl M. · CIK 0002085225 · Chief Human Resources Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 43,883 shares

Expires 2026-08-31

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: The stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") were exercised by the Reporting Person because such stock options were scheduled to expire prior to the expiration of certain restrictions on transfer of the Issuer's common stock by the Reporting Person, as previously disclosed in connection with the Issuer's initial public offering. The Reporting Person remains subject to such restrictions, which will expire on October 8, 2026. No shares of the Issuer's common stock were sold by the Reporting Person in connection with this transaction.

F1 · price: The stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") were exercised by the Reporting Person because such stock options were scheduled to expire prior to the expiration of certain restrictions on transfer of the Issuer's common stock by the Reporting Person, as previously disclosed in connection with the Issuer's initial public offering. The Reporting Person remains subject to such restrictions, which will expire on October 8, 2026. No shares of the Issuer's common stock were sold by the Reporting Person in connection with this transaction.

F1 · derivative.underlying_shares: The stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") were exercised by the Reporting Person because such stock options were scheduled to expire prior to the expiration of certain restrictions on transfer of the Issuer's common stock by the Reporting Person, as previously disclosed in connection with the Issuer's initial public offering. The Reporting Person remains subject to such restrictions, which will expire on October 8, 2026. No shares of the Issuer's common stock were sold by the Reporting Person in connection with this transaction.

SEC source: 0000950142-26-002444 · es260824607_4-naumann.xml · nonDerivative · entry 2

Naumann Cheryl M. · CIK 0002085225 · Chief Human Resources Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 61,203

SEC source: 0000950142-26-002444 · es260824607_4-naumann.xml · nonDerivative · entry 1

Naumann Cheryl M. · CIK 0002085225 · Chief Human Resources Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 86,705

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

SEC source: 0000950142-26-001282 · es260775210_4-naumann.xml · derivative · entry 3

Naumann Cheryl M. · CIK 0002085225 · Chief Human Resources Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 43,883

Underlying: Common Stock · 15,000 shares

Expires 2026-08-31

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: The stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") were exercised by the Reporting Person because such stock options were scheduled to expire prior to the expiration of certain restrictions on transfer of the Issuer's common stock by the Reporting Person, as previously disclosed in connection with the Issuer's initial public offering. The Reporting Person remains subject to such restrictions, which will expire on October 8, 2026. No shares of the Issuer's common stock were sold by the Reporting Person in connection with this transaction.

F1 · price: The stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") were exercised by the Reporting Person because such stock options were scheduled to expire prior to the expiration of certain restrictions on transfer of the Issuer's common stock by the Reporting Person, as previously disclosed in connection with the Issuer's initial public offering. The Reporting Person remains subject to such restrictions, which will expire on October 8, 2026. No shares of the Issuer's common stock were sold by the Reporting Person in connection with this transaction.

F1 · derivative.underlying_shares: The stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") were exercised by the Reporting Person because such stock options were scheduled to expire prior to the expiration of certain restrictions on transfer of the Issuer's common stock by the Reporting Person, as previously disclosed in connection with the Issuer's initial public offering. The Reporting Person remains subject to such restrictions, which will expire on October 8, 2026. No shares of the Issuer's common stock were sold by the Reporting Person in connection with this transaction.

SEC source: 0000950142-26-001282 · es260775210_4-naumann.xml · nonDerivative · entry 2

Naumann Cheryl M. · CIK 0002085225 · Chief Human Resources Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 42,822

SEC source: 0000950142-26-001282 · es260775210_4-naumann.xml · nonDerivative · entry 1

Naumann Cheryl M. · CIK 0002085225 · Chief Human Resources Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 50,936

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

SEC source: 0000950142-25-002797 · es250691616_4-naumann.xml · derivative · entry 8

Naumann Cheryl M. · CIK 0002085225 · Chief Human Resources Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 61,602

Underlying: Common Stock · 61,602 shares

Expires 2030-08-31

F4 · price: Consists of (i) 7,384 stock options granted under the University Equity Plan that became exercisable for shares of the Issuer's common stock in connection with the closing of the IPO and (ii) 54,218 stock options granted under the University Equity Plan that vest and become exercisable for shares of the Issuer's common stock on the twelve-month anniversary of the closing of the IPO.

F4 · derivative.exercise_date: Consists of (i) 7,384 stock options granted under the University Equity Plan that became exercisable for shares of the Issuer's common stock in connection with the closing of the IPO and (ii) 54,218 stock options granted under the University Equity Plan that vest and become exercisable for shares of the Issuer's common stock on the twelve-month anniversary of the closing of the IPO.

F4 · derivative.underlying_shares: Consists of (i) 7,384 stock options granted under the University Equity Plan that became exercisable for shares of the Issuer's common stock in connection with the closing of the IPO and (ii) 54,218 stock options granted under the University Equity Plan that vest and become exercisable for shares of the Issuer's common stock on the twelve-month anniversary of the closing of the IPO.

SEC source: 0000950142-25-002797 · es250691616_4-naumann.xml · derivative · entry 7

Naumann Cheryl M. · CIK 0002085225 · Chief Human Resources Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 61,602

Underlying: Common Stock · 61,602 shares

Expires 2033-02-17

F3 · price: Consists of stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") that became exercisable for shares of the Issuer's common stock in connection with the closing of the IPO.

F3 · derivative.underlying_shares: Consists of stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") that became exercisable for shares of the Issuer's common stock in connection with the closing of the IPO.

SEC source: 0000950142-25-002797 · es250691616_4-naumann.xml · derivative · entry 6

Naumann Cheryl M. · CIK 0002085225 · Chief Human Resources Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 3,852

Underlying: Common Stock · 3,852 shares

Expires 2029-02-06

F3 · price: Consists of stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") that became exercisable for shares of the Issuer's common stock in connection with the closing of the IPO.

F3 · derivative.underlying_shares: Consists of stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") that became exercisable for shares of the Issuer's common stock in connection with the closing of the IPO.

SEC source: 0000950142-25-002797 · es250691616_4-naumann.xml · derivative · entry 5

Naumann Cheryl M. · CIK 0002085225 · Chief Human Resources Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 11,568

Underlying: Common Stock · 11,568 shares

Expires 2028-01-18

F3 · price: Consists of stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") that became exercisable for shares of the Issuer's common stock in connection with the closing of the IPO.

F3 · derivative.underlying_shares: Consists of stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") that became exercisable for shares of the Issuer's common stock in connection with the closing of the IPO.

SEC source: 0000950142-25-002797 · es250691616_4-naumann.xml · derivative · entry 4

Naumann Cheryl M. · CIK 0002085225 · Chief Human Resources Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 150,260

Underlying: Common Stock · 150,260 shares

Expires 2027-08-30

F3 · price: Consists of stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") that became exercisable for shares of the Issuer's common stock in connection with the closing of the IPO.

F3 · derivative.underlying_shares: Consists of stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") that became exercisable for shares of the Issuer's common stock in connection with the closing of the IPO.

SEC source: 0000950142-25-002797 · es250691616_4-naumann.xml · derivative · entry 3

Naumann Cheryl M. · CIK 0002085225 · Chief Human Resources Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 58,883

Underlying: Common Stock · 58,883 shares

Expires 2026-08-31

F3 · price: Consists of stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") that became exercisable for shares of the Issuer's common stock in connection with the closing of the IPO.

F3 · derivative.underlying_shares: Consists of stock options granted under The University of Phoenix, Inc. Management Equity Plan (the "University Equity Plan") that became exercisable for shares of the Issuer's common stock in connection with the closing of the IPO.

SEC source: 0000950142-25-002797 · es250691616_4-naumann.xml · nonDerivative · entry 2

Naumann Cheryl M. · CIK 0002085225 · Chief Human Resources Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 35,936

F2 · price: Consists of restricted stock units granted under the Phoenix Education Partners, Inc. 2025 Omnibus Incentive Plan (the "Omnibus Incentive Plan") that will vest and become exercisable for shares of the Issuer's common stock in accordance with the following: (i) 1/3 of such units shall vest on the first anniversary of the date of grant and (ii) the remaining 2/3 of such units shall vest in eight?equal installments on each three-month anniversary thereafter over two years.

SEC source: 0000950142-25-002797 · es250691616_4-naumann.xml · nonDerivative · entry 1

Naumann Cheryl M. · CIK 0002085225 · Chief Human Resources Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 12,500

F1 · price: Consists of shares of common stock in The University of Phoenix, Inc. held by the Reporting Person that became shares of common stock of the Issuer in connection with the closing of the Issuer's initial public offering (the "IPO").