organization · Reporting owner

325 Capital GP, LLC

Disclosed activity across 4 companies

Tapewire entity: 33410
SEC CIK: 0001972758

Reported relationships

Latest disclosed role at each company.

Company	Last reported as	Report date	Published
AMERICAN PUBLIC EDUCATION INCAPEI · Entity 5082	See Footnotes	May 22, 2026	May 27, 2026
MOTORCAR PARTS OF AMERICA INCMPAA · Entity 6230	10% owner	August 27, 2024	August 30, 2024
MultiSensor AI Holdings, Inc.MSAI · Entity 7943	10% owner · See Footnotes	September 30, 2026	October 03, 2026
TRANSACT TECHNOLOGIES INCTACT · Entity 7179	Director · 10% owner	May 04, 2026	May 04, 2026

Disclosed balances

About these balances

Latest available filing per company, not a reconstructed current portfolio. Matching sequences show the last reported balance with all source rows expandable; grouping alone does not establish account ownership. Do not add unresolved positions together. Filings may omit unchanged positions, and amendments may correct only part of an older disclosure. Jointly reported shares are not necessarily this owner's personal holdings.

AMERICAN PUBLIC EDUCATION INC

Report date May 22, 2026 · Filed May 27, 2026

Jointly reported with Braner Michael David, 325 Capital Master Fund LP, FRIEDBERG DANIEL M., Shrivastava Anil K, 325 CAPITAL LLC

Security / award	Ownership account	Disclosed shares / units	Disclosure context
Common stock, $.01 par valueSEC Table I · non-derivative	Direct	25,380	Reported balance After 2026-05-22 transaction · row 1 Joint disclosure: continuity of the reported position is unresolved; see ownership footnotes. 1 source row Row 1 · 2026-05-22 · Grant · Acquired 2,135 · Balance 25,380 F1: 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. F2: Under the director compensation policy for non-employee directors of American Public Education, Inc., each non-employee director receives an annual equity award of restricted stock at each annual meeting of stockholders that vests on the earlier of the anniversary of the award date and the date of the next annual meeting of stockholders. F3: 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.
Common stock, $.01 par valueSEC Table I · non-derivative	IndirectBy: 325 Capital LLC	836,234	Reported balance Holding disclosure · report date 2026-05-22 · row 2 Holding and transaction disclosures are not merged. 1 source row Row 2 · Balance 836,234 F1: 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. F4: 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.
Common stock, $.01 par valueSEC Table I · non-derivative	IndirectBy: 325 Capital Master Fund LP	347,498	Reported balance Holding disclosure · report date 2026-05-22 · row 3 Holding and transaction disclosures are not merged. 1 source row Row 3 · Balance 347,498 F1: 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. F5: 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.

Filing footnotes · ownership attribution and instrument terms

F1: 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.

F2: Under the director compensation policy for non-employee directors of American Public Education, Inc., each non-employee director receives an annual equity award of restricted stock at each annual meeting of stockholders that vests on the earlier of the anniversary of the award date and the date of the next annual meeting of stockholders.

F3: 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.

F4: 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.

F5: 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.

MOTORCAR PARTS OF AMERICA INC

Report date August 27, 2024 · Filed August 30, 2024

Jointly reported with 325 CAPITAL LLC, 325 Capital Master Fund LP, FRIEDBERG DANIEL M., Shrivastava Anil K, Braner Michael David

Security / award	Ownership account	Disclosed shares / units	Disclosure context
Common Stock, $0.01 par value per shareSEC Table I · non-derivative	IndirectBy: 325 Capital LLC	2,026,179	Last balance in matching sequence After 2024-08-28 transaction · row 2 Source-order balances reconcile. Account continuity and personal attribution are not independently verified. 2 source rows Row 1 · 2024-08-27 · Purchase · Acquired 16,608 · Balance 1,984,990 F3: The price of $6.73 per share represents a weighted average of purchase prices ranging from $6.63 to $6.77 per share. The Reporting Persons undertake to provide upon request by the Commission staff, the Issuer, or a security holder of the Issuer full information regarding the number of shares purchased at each separate price. F1: 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. F2: 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. Also includes 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. Row 2 · 2024-08-28 · Purchase · Acquired 41,189 · Balance 2,026,179 F4: The price of $6.76 per share represents a weighted average of purchase prices ranging from $6.67 to $6.91 per share. The Reporting Persons undertake to provide upon request by the Commission staff, the Issuer, or a security holder of the Issuer full information regarding the number of shares purchased at each separate price. F1: 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. F2: 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. Also includes 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.

Filing footnotes · ownership attribution and instrument terms

F2: 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. Also includes 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.

F3: The price of $6.73 per share represents a weighted average of purchase prices ranging from $6.63 to $6.77 per share. The Reporting Persons undertake to provide upon request by the Commission staff, the Issuer, or a security holder of the Issuer full information regarding the number of shares purchased at each separate price.

F4: The price of $6.76 per share represents a weighted average of purchase prices ranging from $6.67 to $6.91 per share. The Reporting Persons undertake to provide upon request by the Commission staff, the Issuer, or a security holder of the Issuer full information regarding the number of shares purchased at each separate price.

MultiSensor AI Holdings, Inc.

Report date September 30, 2026 · Filed October 03, 2026

Jointly reported with FRIEDBERG DANIEL M., 325 Capital Master Fund LP, 325 CAPITAL LLC, Shrivastava Anil K, Braner Michael David

Security / award	Ownership account	Disclosed shares / units	Disclosure context
Common stock, $0.0001 par value per shareSEC Table I · non-derivative	Direct	14,082	Reported balance After 2026-09-30 transaction · row 1 Joint disclosure: continuity of the reported position is unresolved; see ownership footnotes. 1 source row Row 1 · 2026-09-30 · Grant · Acquired 4,210 · Balance 14,082 F1: 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. F2: Mr. Friedberg serves as a director designee of 325 on the Board of Directors of the Issuer. In connection with this arrangement, any equity-based securities awarded to Mr. Friedberg in his capacity as a director of the Issuer will be held by Mr. Friedberg on behalf of 325 or its affiliates, transferred by Mr. Friedberg to 325 or its affiliates, and/or sold by Mr. Friedberg, with the proceeds of such sale to be remitted to 325 or its affiliates, in each case as directed by 325. Accordingly, Mr. Friedberg does not have a direct pecuniary interest in these securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), however, 325 and Messrs. Braner, Friedberg and Shrivastava may be deemed to have a pecuninary interest in these securities for purposes of Section 16 of the Exchange Act pursuant to the foregoing sentence.
Common stock, $0.0001 par value per shareSEC Table I · non-derivative	IndirectBy: 325 Capital Master Fund LP	121,081	Reported balance Holding disclosure · report date 2026-09-30 · row 2 Holding and transaction disclosures are not merged. 1 source row Row 2 · Balance 121,081 F1: 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. F3: 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.
Common stock, $0.0001 par value per shareSEC Table I · non-derivative	IndirectBy: 325 Capital LLC	543,697	Reported balance Holding disclosure · report date 2026-09-30 · row 3 Holding and transaction disclosures are not merged. 1 source row Row 3 · Balance 543,697 F1: 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. F4: 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.
Warrants to purchase common stockSEC Table II · derivative / convertible security · Conversion / exercise price $5.98	IndirectBy: 325 Capital Master Fund LP	6,722,710	Reported balance Holding disclosure · report date 2026-09-30 · row 4 Instrument identity requires review; Table II rows are not merged. 1 source row Row 4 · Balance 6,722,710 F1: 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. F5: The Warrants are exercisable from the date of the Stockholder Approval and expire five years from the date of issuance. F6: The SPA and the Warrants provide that each Warrant holder's beneficial ownership of shares, including after taking into account the full exercise of such holder's Warrant, shall in no event exceed 49.5% of the issued and outstanding shares (the "Maximum Ownership Limitation"). Pursuant to the Warrants, in the event that a holder's Warrant is not exercisable for shares due to the beneficial ownership of such holder exceeding the Maximum Ownership Limitation, the applicable Warrant will be exercisable for shares of the Issuer's Series A Convertible Preferred Stock, par value $0.0001 per share, that are convertible into an equivalent number of shares for which the Warrant is exercisable. F3: 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.
Warrants to purchase common stockSEC Table II · derivative / convertible security · Conversion / exercise price $5.98	IndirectBy: 325 Capital LLC	27,507,114	Reported balance Holding disclosure · report date 2026-09-30 · row 5 Instrument identity requires review; Table II rows are not merged. 1 source row Row 5 · Balance 27,507,114 F1: 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. F5: The Warrants are exercisable from the date of the Stockholder Approval and expire five years from the date of issuance. F6: The SPA and the Warrants provide that each Warrant holder's beneficial ownership of shares, including after taking into account the full exercise of such holder's Warrant, shall in no event exceed 49.5% of the issued and outstanding shares (the "Maximum Ownership Limitation"). Pursuant to the Warrants, in the event that a holder's Warrant is not exercisable for shares due to the beneficial ownership of such holder exceeding the Maximum Ownership Limitation, the applicable Warrant will be exercisable for shares of the Issuer's Series A Convertible Preferred Stock, par value $0.0001 per share, that are convertible into an equivalent number of shares for which the Warrant is exercisable. F4: 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.

Filing footnotes · ownership attribution and instrument terms

F2: Mr. Friedberg serves as a director designee of 325 on the Board of Directors of the Issuer. In connection with this arrangement, any equity-based securities awarded to Mr. Friedberg in his capacity as a director of the Issuer will be held by Mr. Friedberg on behalf of 325 or its affiliates, transferred by Mr. Friedberg to 325 or its affiliates, and/or sold by Mr. Friedberg, with the proceeds of such sale to be remitted to 325 or its affiliates, in each case as directed by 325. Accordingly, Mr. Friedberg does not have a direct pecuniary interest in these securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), however, 325 and Messrs. Braner, Friedberg and Shrivastava may be deemed to have a pecuninary interest in these securities for purposes of Section 16 of the Exchange Act pursuant to the foregoing sentence.

F3: 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.

F5: The Warrants are exercisable from the date of the Stockholder Approval and expire five years from the date of issuance.

F6: The SPA and the Warrants provide that each Warrant holder's beneficial ownership of shares, including after taking into account the full exercise of such holder's Warrant, shall in no event exceed 49.5% of the issued and outstanding shares (the "Maximum Ownership Limitation"). Pursuant to the Warrants, in the event that a holder's Warrant is not exercisable for shares due to the beneficial ownership of such holder exceeding the Maximum Ownership Limitation, the applicable Warrant will be exercisable for shares of the Issuer's Series A Convertible Preferred Stock, par value $0.0001 per share, that are convertible into an equivalent number of shares for which the Warrant is exercisable.

TRANSACT TECHNOLOGIES INC

Report date May 04, 2026 · Filed May 04, 2026

Jointly reported with 325 CAPITAL LLC, FRIEDBERG DANIEL M., Shrivastava Anil K, 325 Capital Master Fund LP

Security / award	Ownership account	Disclosed shares / units	Disclosure context
Common StockSEC Table I · non-derivative	IndirectSee Footnotes	17,800	Reported balance After 2026-05-04 transaction · row 1 Holding and transaction disclosures are not merged. 1 source row Row 1 · 2026-05-04 · Exercise / conversion · Acquired 1,700 · Balance 17,800 F1: Restricted Stock Units issued on May 4, 2022 pursuant to the Company's 2014 Equity Incentive Plan, as Amended and Restated, vesting 25% annually commencing on the first anniversary date of the grant, that have converted to common stock on a one-for-one basis. F2: This Report is filed jointly by 325 Capital LLC, a Delaware limited liability company ("325"), 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"), Michael D. Braner, a citizen of the United States of America, Daniel M. Friedberg, a citizen of the United States of America, and Anil K. Shrivastava, a citizen of the United States of America (collectively, the "Reporting Persons"), each of whom may be deemed to have a pecuniary interest in the securities reported on this Form 4. F3: These securities are owned directly by Daniel M. Friedberg, a Managing Member of 325 who serves on the board of directors of TransAct Technologies Incorporated (the "Company"). 325 is entitled to receive all of the economic interest in securities granted to Mr. Friedberg in respect of Mr. Friedberg's service on the board of directors, and may therefore be deemed to beneficially own these securities for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended. 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, all of the Reporting Persons may be deemed to beneficially own the securities owned directly by Mr. Friedberg. The other Reporting Persons may also be deemed "directors by deputization" of the Company. F4: Each of the Reporting Persons disclaims any beneficial ownership of any of these securities, except to the extent of any pecuniary interest therein.
Common StockSEC Table I · non-derivative	IndirectSee Footnotes	1,011,789	Reported balance Holding disclosure · report date 2026-05-04 · row 2 Holding and transaction disclosures are not merged. 1 source row Row 2 · Balance 1,011,789 F2: This Report is filed jointly by 325 Capital LLC, a Delaware limited liability company ("325"), 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"), Michael D. Braner, a citizen of the United States of America, Daniel M. Friedberg, a citizen of the United States of America, and Anil K. Shrivastava, a citizen of the United States of America (collectively, the "Reporting Persons"), each of whom may be deemed to have a pecuniary interest in the securities reported on this Form 4. F4: Each of the Reporting Persons disclaims any beneficial ownership of any of these securities, except to the extent of any pecuniary interest therein. F5: These securities are owned directly by 325 Master Fund. As a result of the relationships described in Footnote (3) above, all of the Reporting Persons may be deemed to beneficially own the securities owned directly by 325 Master Fund.
Restricted Stock UnitsSEC Table II · derivative / convertible security	IndirectSee Footnotes	0	Reported balance After 2026-05-04 transaction · row 3 Instrument identity requires review; Table II rows are not merged. 1 source row Row 3 · 2026-05-04 · Exercise / conversion · Disposed 1,700 · Balance 0 F1: Restricted Stock Units issued on May 4, 2022 pursuant to the Company's 2014 Equity Incentive Plan, as Amended and Restated, vesting 25% annually commencing on the first anniversary date of the grant, that have converted to common stock on a one-for-one basis. F2: This Report is filed jointly by 325 Capital LLC, a Delaware limited liability company ("325"), 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"), Michael D. Braner, a citizen of the United States of America, Daniel M. Friedberg, a citizen of the United States of America, and Anil K. Shrivastava, a citizen of the United States of America (collectively, the "Reporting Persons"), each of whom may be deemed to have a pecuniary interest in the securities reported on this Form 4. F3: These securities are owned directly by Daniel M. Friedberg, a Managing Member of 325 who serves on the board of directors of TransAct Technologies Incorporated (the "Company"). 325 is entitled to receive all of the economic interest in securities granted to Mr. Friedberg in respect of Mr. Friedberg's service on the board of directors, and may therefore be deemed to beneficially own these securities for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended. 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, all of the Reporting Persons may be deemed to beneficially own the securities owned directly by Mr. Friedberg. The other Reporting Persons may also be deemed "directors by deputization" of the Company. F4: Each of the Reporting Persons disclaims any beneficial ownership of any of these securities, except to the extent of any pecuniary interest therein.

Filing footnotes · ownership attribution and instrument terms

F1: Restricted Stock Units issued on May 4, 2022 pursuant to the Company's 2014 Equity Incentive Plan, as Amended and Restated, vesting 25% annually commencing on the first anniversary date of the grant, that have converted to common stock on a one-for-one basis.

F2: This Report is filed jointly by 325 Capital LLC, a Delaware limited liability company ("325"), 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"), Michael D. Braner, a citizen of the United States of America, Daniel M. Friedberg, a citizen of the United States of America, and Anil K. Shrivastava, a citizen of the United States of America (collectively, the "Reporting Persons"), each of whom may be deemed to have a pecuniary interest in the securities reported on this Form 4.

F3: These securities are owned directly by Daniel M. Friedberg, a Managing Member of 325 who serves on the board of directors of TransAct Technologies Incorporated (the "Company"). 325 is entitled to receive all of the economic interest in securities granted to Mr. Friedberg in respect of Mr. Friedberg's service on the board of directors, and may therefore be deemed to beneficially own these securities for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended. 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, all of the Reporting Persons may be deemed to beneficially own the securities owned directly by Mr. Friedberg. The other Reporting Persons may also be deemed "directors by deputization" of the Company.

F4: Each of the Reporting Persons disclaims any beneficial ownership of any of these securities, except to the extent of any pecuniary interest therein.

F5: These securities are owned directly by 325 Master Fund. As a result of the relationships described in Footnote (3) above, all of the Reporting Persons may be deemed to beneficially own the securities owned directly by 325 Master Fund.

Transaction history

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Purchases/sales include open-market and private transactions. Plan disclosure applies to the filing; individual rows may differ. “Not disclosed” is not “unplanned.”

The cutoff filters transaction history only. Company summaries and owner relationships show the latest available disclosures. Parser corrections can improve historical records.

Transaction date	Company	Activity / security	Shares / units	Reported price	Reported value	Details
May 23, 2023 Filed May 25, 2023 21:11 UTC	AMERICAN PUBLIC EDUCATION INC APEI · Entity 5082	GrantCommon Stock, par value $0.01	442	$6.22	$2,749.24	Disclosure SEC source: 0000921895-23-001364 · form413281003_05252023.xml · nonDerivative · entry 1 Braner Michael David · CIK 0001908015 · Director · See Footnotes 325 CAPITAL LLC · CIK 0001873893 · See Footnotes FRIEDBERG DANIEL M. · CIK 0001448795 · See Footnotes Shrivastava Anil K · CIK 0001908019 · See Footnotes 325 Master Fund LP · CIK 0001972759 · See Footnotes 325 Capital GP, LLC · CIK 0001972758 · See Footnotes Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By: 325 Capital Master Fund LP Disclosed balance after: 245,294 F1 · security: 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. F2 · ownership.nature: 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. Read SEC document
May 19, 2023 Filed May 23, 2023 21:47 UTC	AMERICAN PUBLIC EDUCATION INC APEI · Entity 5082	GrantCommon Stock, par value $0.01	12,738	$0.00	$0.00	Disclosure SEC source: 0000921895-23-001339 · form413281003_05232023.xml · nonDerivative · entry 1 Braner Michael David · CIK 0001908015 · Director · See Footnotes 325 CAPITAL LLC · CIK 0001873893 · See Footnotes FRIEDBERG DANIEL M. · CIK 0001448795 · See Footnotes Shrivastava Anil K · CIK 0001908019 · See Footnotes 325 Master Fund LP · CIK 0001972759 · See Footnotes 325 Capital GP, LLC · CIK 0001972758 · See Footnotes Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 15,143 F1 · security: 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. F2 · shares: Pursuant to the non-employee director compensation policy of American Public Education, Inc. (the "Issuer"), Mr. Braner received an annual award of restricted common stock of the Issuer having a value of $80,000 on the grant date. The shares vest on the earlier of the one year anniversary of the grant date and immediately prior to the Issuer's 2024 Annual Meeting of Stockholders. F3 · shares: Mr. Braner serves on 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 position. 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. F4 · shares: The securities described in footnote (2) represents securities in which 325 has all of the direct economic interest. Each of Messrs. Braner, Friedberg and Shrivastava are Managing Members of 325. As a result of these relationships, 325 and Messrs. Braner, Friedberg and Shrivastava may be deemed to beneficially own the securities owned directly by 325. F2 · balance_after: Pursuant to the non-employee director compensation policy of American Public Education, Inc. (the "Issuer"), Mr. Braner received an annual award of restricted common stock of the Issuer having a value of $80,000 on the grant date. The shares vest on the earlier of the one year anniversary of the grant date and immediately prior to the Issuer's 2024 Annual Meeting of Stockholders. F3 · balance_after: Mr. Braner serves on 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 position. 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. F4 · balance_after: The securities described in footnote (2) represents securities in which 325 has all of the direct economic interest. Each of Messrs. Braner, Friedberg and Shrivastava are Managing Members of 325. As a result of these relationships, 325 and Messrs. Braner, Friedberg and Shrivastava may be deemed to beneficially own the securities owned directly by 325. F2 · ownership.direct: Pursuant to the non-employee director compensation policy of American Public Education, Inc. (the "Issuer"), Mr. Braner received an annual award of restricted common stock of the Issuer having a value of $80,000 on the grant date. The shares vest on the earlier of the one year anniversary of the grant date and immediately prior to the Issuer's 2024 Annual Meeting of Stockholders. F3 · ownership.direct: Mr. Braner serves on 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 position. 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. F4 · ownership.direct: The securities described in footnote (2) represents securities in which 325 has all of the direct economic interest. Each of Messrs. Braner, Friedberg and Shrivastava are Managing Members of 325. As a result of these relationships, 325 and Messrs. Braner, Friedberg and Shrivastava may be deemed to beneficially own the securities owned directly by 325. Read SEC document
May 17, 2023 Filed May 20, 2023 00:25 UTC	AMERICAN PUBLIC EDUCATION INC APEI · Entity 5082	GrantCommon Stock, par value $0.01	905	$5.45	$4,932.25	Disclosure SEC source: 0001193805-23-000761 · e618652_4-apei.xml · nonDerivative · entry 2 Braner Michael David · CIK 0001908015 · Director · See Footnotes 325 CAPITAL LLC · CIK 0001873893 · See Footnotes FRIEDBERG DANIEL M. · CIK 0001448795 · See Footnotes Shrivastava Anil K · CIK 0001908019 · See Footnotes 325 Master Fund LP · CIK 0001972759 · See Footnotes 325 Capital GP, LLC · CIK 0001972758 · See Footnotes Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By: 325 Capital LLC Disclosed balance after: 1,023,821 F1 · security: 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. F3 · ownership.nature: 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. Read SEC document
May 17, 2023 Filed May 20, 2023 00:25 UTC	AMERICAN PUBLIC EDUCATION INC APEI · Entity 5082	GrantCommon Stock, par value $0.01	195	$5.45	$1,062.75	Disclosure SEC source: 0001193805-23-000761 · e618652_4-apei.xml · nonDerivative · entry 1 Braner Michael David · CIK 0001908015 · Director · See Footnotes 325 CAPITAL LLC · CIK 0001873893 · See Footnotes FRIEDBERG DANIEL M. · CIK 0001448795 · See Footnotes Shrivastava Anil K · CIK 0001908019 · See Footnotes 325 Master Fund LP · CIK 0001972759 · See Footnotes 325 Capital GP, LLC · CIK 0001972758 · See Footnotes Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By: 325 Capital Master Fund LP Disclosed balance after: 244,852 F1 · security: 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. F2 · ownership.nature: 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. Read SEC document
May 16, 2023 Filed May 17, 2023 00:40 UTC	AMERICAN PUBLIC EDUCATION INC APEI · Entity 5082	GrantCommon Stock, par value $0.01	15,200	$5.43	$82,536.00	Disclosure SEC source: 0001193805-23-000739 · e618638_4-apei.xml · nonDerivative · entry 6 Braner Michael David · CIK 0001908015 · Director · See Footnotes 325 CAPITAL LLC · CIK 0001873893 · See Footnotes FRIEDBERG DANIEL M. · CIK 0001448795 · See Footnotes Shrivastava Anil K · CIK 0001908019 · See Footnotes 325 Master Fund LP · CIK 0001972759 · See Footnotes 325 Capital GP, LLC · CIK 0001972758 · See Footnotes Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By: 325 Capital LLC Disclosed balance after: 1,022,916 F1 · security: 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. F3 · ownership.nature: 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. Read SEC document
May 16, 2023 Filed May 17, 2023 00:40 UTC	AMERICAN PUBLIC EDUCATION INC APEI · Entity 5082	GrantCommon Stock, par value $0.01	3,267	$5.43	$17,739.81	Disclosure SEC source: 0001193805-23-000739 · e618638_4-apei.xml · nonDerivative · entry 5 Braner Michael David · CIK 0001908015 · Director · See Footnotes 325 CAPITAL LLC · CIK 0001873893 · See Footnotes FRIEDBERG DANIEL M. · CIK 0001448795 · See Footnotes Shrivastava Anil K · CIK 0001908019 · See Footnotes 325 Master Fund LP · CIK 0001972759 · See Footnotes 325 Capital GP, LLC · CIK 0001972758 · See Footnotes Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By: 325 Capital Master Fund LP Disclosed balance after: 244,657 F1 · security: 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. F2 · ownership.nature: 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. Read SEC document
May 15, 2023 Filed May 17, 2023 00:40 UTC	AMERICAN PUBLIC EDUCATION INC APEI · Entity 5082	GrantCommon Stock, par value $0.01	58,569	$5.48	$320,958.12	Disclosure SEC source: 0001193805-23-000739 · e618638_4-apei.xml · nonDerivative · entry 4 Braner Michael David · CIK 0001908015 · Director · See Footnotes 325 CAPITAL LLC · CIK 0001873893 · See Footnotes FRIEDBERG DANIEL M. · CIK 0001448795 · See Footnotes Shrivastava Anil K · CIK 0001908019 · See Footnotes 325 Master Fund LP · CIK 0001972759 · See Footnotes 325 Capital GP, LLC · CIK 0001972758 · See Footnotes Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By: 325 Capital LLC Disclosed balance after: 1,007,716 F1 · security: 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. F3 · ownership.nature: 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. Read SEC document
May 15, 2023 Filed May 17, 2023 00:40 UTC	AMERICAN PUBLIC EDUCATION INC APEI · Entity 5082	GrantCommon Stock, par value $0.01	12,589	$5.48	$68,987.72	Disclosure SEC source: 0001193805-23-000739 · e618638_4-apei.xml · nonDerivative · entry 3 Braner Michael David · CIK 0001908015 · Director · See Footnotes 325 CAPITAL LLC · CIK 0001873893 · See Footnotes FRIEDBERG DANIEL M. · CIK 0001448795 · See Footnotes Shrivastava Anil K · CIK 0001908019 · See Footnotes 325 Master Fund LP · CIK 0001972759 · See Footnotes 325 Capital GP, LLC · CIK 0001972758 · See Footnotes Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By: 325 Capital Master Fund LP Disclosed balance after: 241,390 F1 · security: 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. F2 · ownership.nature: 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. Read SEC document
May 12, 2023 Filed May 17, 2023 00:40 UTC	AMERICAN PUBLIC EDUCATION INC APEI · Entity 5082	GrantCommon Stock, par value $0.01	7,846	$5.36	$42,054.56	Disclosure SEC source: 0001193805-23-000739 · e618638_4-apei.xml · nonDerivative · entry 2 Braner Michael David · CIK 0001908015 · Director · See Footnotes 325 CAPITAL LLC · CIK 0001873893 · See Footnotes FRIEDBERG DANIEL M. · CIK 0001448795 · See Footnotes Shrivastava Anil K · CIK 0001908019 · See Footnotes 325 Master Fund LP · CIK 0001972759 · See Footnotes 325 Capital GP, LLC · CIK 0001972758 · See Footnotes Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By: 325 Capital LLC Disclosed balance after: 949,147 F1 · security: 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. F3 · ownership.nature: 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. Read SEC document
May 12, 2023 Filed May 17, 2023 00:40 UTC	AMERICAN PUBLIC EDUCATION INC APEI · Entity 5082	GrantCommon Stock, par value $0.01	1,673	$5.36	$8,967.28	Disclosure SEC source: 0001193805-23-000739 · e618638_4-apei.xml · nonDerivative · entry 1 Braner Michael David · CIK 0001908015 · Director · See Footnotes 325 CAPITAL LLC · CIK 0001873893 · See Footnotes FRIEDBERG DANIEL M. · CIK 0001448795 · See Footnotes Shrivastava Anil K · CIK 0001908019 · See Footnotes 325 Master Fund LP · CIK 0001972759 · See Footnotes 325 Capital GP, LLC · CIK 0001972758 · See Footnotes Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By: 325 Capital Master Fund LP Disclosed balance after: 228,801 F1 · security: 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. F2 · ownership.nature: 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. Read SEC document
May 04, 2023 Filed May 8, 2023 22:27 UTC	TRANSACT TECHNOLOGIES INC TACT · Entity 7179	Exercise / conversionRestricted Stock Units · Derivative	1,700	Not disclosed	Not disclosed	Disclosure SEC source: 0001214659-23-006666 · marketforms-61412.xml · derivative · entry 3 325 CAPITAL LLC · CIK 0001873893 · Director · 10% owner Braner Michael David · CIK 0001908015 · Director · 10% owner FRIEDBERG DANIEL M. · CIK 0001448795 · Director · 10% owner Shrivastava Anil K · CIK 0001908019 · Director · 10% owner 325 Master Fund LP · CIK 0001972759 · Director · 10% owner 325 Capital GP, LLC · CIK 0001972758 · Director · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · See Footnotes Disclosed balance after: 5,100 Underlying: Common Stock · 1,700 shares Expires not disclosed 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 · derivative.exercise_price: Shares of Restricted Stock Units issued on May 4, 2022 pursuant to the Company's 2014 Equity Incentive Plan, as amended and restated, vesting 25% annually commencing on the first anniversary date of the grant, that have converted to common stock on a one-for-one basis. F1 · price: Shares of Restricted Stock Units issued on May 4, 2022 pursuant to the Company's 2014 Equity Incentive Plan, as amended and restated, vesting 25% annually commencing on the first anniversary date of the grant, that have converted to common stock on a one-for-one basis. F1 · derivative.exercise_date: Shares of Restricted Stock Units issued on May 4, 2022 pursuant to the Company's 2014 Equity Incentive Plan, as amended and restated, vesting 25% annually commencing on the first anniversary date of the grant, that have converted to common stock on a one-for-one basis. F1 · derivative.expiration_date: Shares of Restricted Stock Units issued on May 4, 2022 pursuant to the Company's 2014 Equity Incentive Plan, as amended and restated, vesting 25% annually commencing on the first anniversary date of the grant, that have converted to common stock on a one-for-one basis. F2 · ownership.direct: This Report is filed jointly by 325 Capital LLC, a Delaware limited liability company ("325"), 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"), Michael D. Braner, a citizen of the United States of America, Daniel M. Friedberg, a citizen of the United States of America, and Anil K. Shrivastava, a citizen of the United States of America (collectively, the "Reporting Persons"), each of whom may be deemed to have a pecuniary interest in the securities reported on this Form 4. F3 · ownership.direct: These securities are owned directly by Daniel M. Friedberg, a Managing Member of 325 who serves on the board of directors of TransAct Technologies Incorporated (the "Company"). 325 is entitled to receive all of the economic interest in securities granted to Mr. Friedberg in respect of Mr. Friedberg's service on the board of directors, and may therefore be deemed to beneficially own these securities for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended. 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, all of the Reporting Persons may be deemed to beneficially own the securities owned directly by Mr. Friedberg. The other Reporting Persons may also be deemed "directors by deputization" of the Company. F4 · ownership.direct: Each of the Reporting Persons disclaims any beneficial ownership of any of these securities, except to the extent of any pecuniary interest therein. F2 · ownership.nature: This Report is filed jointly by 325 Capital LLC, a Delaware limited liability company ("325"), 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"), Michael D. Braner, a citizen of the United States of America, Daniel M. Friedberg, a citizen of the United States of America, and Anil K. Shrivastava, a citizen of the United States of America (collectively, the "Reporting Persons"), each of whom may be deemed to have a pecuniary interest in the securities reported on this Form 4. F3 · ownership.nature: These securities are owned directly by Daniel M. Friedberg, a Managing Member of 325 who serves on the board of directors of TransAct Technologies Incorporated (the "Company"). 325 is entitled to receive all of the economic interest in securities granted to Mr. Friedberg in respect of Mr. Friedberg's service on the board of directors, and may therefore be deemed to beneficially own these securities for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended. 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, all of the Reporting Persons may be deemed to beneficially own the securities owned directly by Mr. Friedberg. The other Reporting Persons may also be deemed "directors by deputization" of the Company. F4 · ownership.nature: Each of the Reporting Persons disclaims any beneficial ownership of any of these securities, except to the extent of any pecuniary interest therein. Read SEC document
May 04, 2023 Filed May 8, 2023 22:27 UTC	TRANSACT TECHNOLOGIES INC TACT · Entity 7179	Exercise / conversionCommon Stock	1,700	$0.00	$0.00	Disclosure SEC source: 0001214659-23-006666 · marketforms-61412.xml · nonDerivative · entry 1 325 CAPITAL LLC · CIK 0001873893 · Director · 10% owner Braner Michael David · CIK 0001908015 · Director · 10% owner FRIEDBERG DANIEL M. · CIK 0001448795 · Director · 10% owner Shrivastava Anil K · CIK 0001908019 · Director · 10% owner 325 Master Fund LP · CIK 0001972759 · Director · 10% owner 325 Capital GP, LLC · CIK 0001972758 · Director · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · See Footnotes Disclosed balance after: 1,700 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 · price: Shares of Restricted Stock Units issued on May 4, 2022 pursuant to the Company's 2014 Equity Incentive Plan, as amended and restated, vesting 25% annually commencing on the first anniversary date of the grant, that have converted to common stock on a one-for-one basis. F2 · ownership.direct: This Report is filed jointly by 325 Capital LLC, a Delaware limited liability company ("325"), 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"), Michael D. Braner, a citizen of the United States of America, Daniel M. Friedberg, a citizen of the United States of America, and Anil K. Shrivastava, a citizen of the United States of America (collectively, the "Reporting Persons"), each of whom may be deemed to have a pecuniary interest in the securities reported on this Form 4. F3 · ownership.direct: These securities are owned directly by Daniel M. Friedberg, a Managing Member of 325 who serves on the board of directors of TransAct Technologies Incorporated (the "Company"). 325 is entitled to receive all of the economic interest in securities granted to Mr. Friedberg in respect of Mr. Friedberg's service on the board of directors, and may therefore be deemed to beneficially own these securities for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended. 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, all of the Reporting Persons may be deemed to beneficially own the securities owned directly by Mr. Friedberg. The other Reporting Persons may also be deemed "directors by deputization" of the Company. F4 · ownership.direct: Each of the Reporting Persons disclaims any beneficial ownership of any of these securities, except to the extent of any pecuniary interest therein. F2 · ownership.nature: This Report is filed jointly by 325 Capital LLC, a Delaware limited liability company ("325"), 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"), Michael D. Braner, a citizen of the United States of America, Daniel M. Friedberg, a citizen of the United States of America, and Anil K. Shrivastava, a citizen of the United States of America (collectively, the "Reporting Persons"), each of whom may be deemed to have a pecuniary interest in the securities reported on this Form 4. F3 · ownership.nature: These securities are owned directly by Daniel M. Friedberg, a Managing Member of 325 who serves on the board of directors of TransAct Technologies Incorporated (the "Company"). 325 is entitled to receive all of the economic interest in securities granted to Mr. Friedberg in respect of Mr. Friedberg's service on the board of directors, and may therefore be deemed to beneficially own these securities for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended. 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, all of the Reporting Persons may be deemed to beneficially own the securities owned directly by Mr. Friedberg. The other Reporting Persons may also be deemed "directors by deputization" of the Company. F4 · ownership.nature: Each of the Reporting Persons disclaims any beneficial ownership of any of these securities, except to the extent of any pecuniary interest therein. Read SEC document
March 28, 2023 Filed Apr 10, 2023 23:25 UTC Amendment	AMERICAN PUBLIC EDUCATION INC APEI · Entity 5082	GrantCommon Stock, par value $0.01	2,405	Not disclosed	Not disclosed	Disclosure SEC source: 0000921895-23-000871 · form4a13281003_04102023.xml · nonDerivative · entry 1 Braner Michael David · CIK 0001908015 · Director · See Footnotes 325 CAPITAL LLC · CIK 0001873893 · See Footnotes FRIEDBERG DANIEL M. · CIK 0001448795 · See Footnotes Shrivastava Anil K · CIK 0001908019 · See Footnotes 325 Master Fund LP · CIK 0001972759 · See Footnotes 325 Capital GP, LLC · CIK 0001972758 · See Footnotes Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Direct Disclosed balance after: 2,405 F1 · security: 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. F2 · kind: Shares of restricted stock granted pursuant to the director compensation policy for non-employee directors of American Public Education, Inc. (the "Issuer"). The shares vest on the earlier of May 20, 2023 and immediately prior to the Company's 2023 Annual Meeting of Stockholders. F4 · kind: The securities described in footnotes (2) and (3) represent securities in which 325 has all of the direct economic interest. Each of Messrs. Braner, Friedberg and Shrivastava are Managing Members of 325. As a result of these relationships, 325 and Messrs. Braner, Friedberg and Shrivastava may be deemed to beneficially own the securities owned directly by 325. F2 · price: Shares of restricted stock granted pursuant to the director compensation policy for non-employee directors of American Public Education, Inc. (the "Issuer"). The shares vest on the earlier of May 20, 2023 and immediately prior to the Company's 2023 Annual Meeting of Stockholders. F4 · price: The securities described in footnotes (2) and (3) represent securities in which 325 has all of the direct economic interest. Each of Messrs. Braner, Friedberg and Shrivastava are Managing Members of 325. As a result of these relationships, 325 and Messrs. Braner, Friedberg and Shrivastava may be deemed to beneficially own the securities owned directly by 325. F3 · balance_after: Because Mr. Braner serves on 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 position. 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. F4 · balance_after: The securities described in footnotes (2) and (3) represent securities in which 325 has all of the direct economic interest. Each of Messrs. Braner, Friedberg and Shrivastava are Managing Members of 325. As a result of these relationships, 325 and Messrs. Braner, Friedberg and Shrivastava may be deemed to beneficially own the securities owned directly by 325. Read SEC document

Value uses the disclosed total when available, otherwise shares × reported transaction price. It is not an estimate of exercise cash cost or investment performance.