UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

PERDOCEO EDUCATION CORPORATION

(Exact name of Registrant as Specified in Its Charter)

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Securities registered pursuant to Section 12(b) of the Act:

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On February 3, 2025, the Board of Directors (the “Board”) of Perdoceo Education Corporation (the "Company") appointed Hanna Skandera to the Board for a term expiring at the 2025 annual meeting of stockholders, or until her successor is elected or qualified or until her earlier resignation or removal. Ms. Skandera’s appointment follows a February 3, 2025 vote by the Board to expand the number of eligible Board seats from eight to nine.

A copy of the press release announcing Ms. Skandera’s appointment is attached as Exhibit 99.1.

As a non-employee director of the Company, Ms. Skandera will receive an annual retainer of $80,000, payable in quarterly installments. In addition, an individual meeting fee of $1,500 will be paid to non-employee directors for each Board and committee meeting commencing with the eighteenth Board or eighteenth committee meeting in the 12-month period following the annual meeting of the Company's stockholders. The final quarterly payment with respect to a calendar year is contingent on the director having attended at least 75% of the aggregate of the total number of Board meetings (held during the portion of the year for which such individual has been a director) plus the total number of meetings held by all committees of the Board on which such person served (during the portion of the year that the person served on such committee). In the event the director has not achieved this attendance level, the director will forfeit the entire amount of the final quarterly retainer payment. This forfeiture provision does not apply to (1) Board meeting fees or committee meeting fees payable when the Board or committee holds 18 or more meetings during the 12-month period following the annual meeting of the Company's stockholders, or (2) equity awards (described below). All non-employee directors are reimbursed for their reasonable out-of-pocket expenses incurred in attending Board and committee meetings and associated with Board or committee responsibilities, including attendance at one director education program each year.

In addition, under the director compensation program adopted effective May 23, 2024, each non-employee director receives an annual grant of restricted stock units on the date of the annual meeting of stockholders with a target value at grant of $125,000, and new directors who join the Board during the year receive a pro rata equity award for their partial year of service. Each restricted stock unit represents the contingent right to receive one share of the Company’s common stock after one year, subject to continued Board service during the applicable annual directors’ term of office. In accordance with this director compensation program, on February 21, 2025, Ms. Skandera will receive a prorated award equal to the number of restricted stock units with a target value of $31,250. These restricted stock units will vest on March 14, 2026, subject to continued service on the Board.

As a non-employee director, Ms. Skandera will be subject to the Company’s stock ownership guidelines (as described in the Company’s proxy statement for its 2024 annual meeting of stockholders).

Ms. Skandera is covered by our directors' and officers' insurance policy and also has an indemnification agreement providing indemnification and advancement of expenses to the fullest extent permitted by Delaware law (a form of which is filed as Exhibit 10.9 to our Quarterly Report on Form 10-Q for the period ended June 30, 2016).

There have been no transactions since the beginning of the last fiscal year, or any currently proposed transactions, in which the Company or any of its affiliates was or is to be a participant and in which Ms. Skandera has or had a direct or indirect material interest, nor does Ms. Skandera have any family relationship with any director or executive officer of the Company.

Ms. Skandera has not yet been named to any committees of the Board.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

The exhibits required by Item 601 of Regulation S-K are listed in the “Exhibit Index” which is contained in this Current Report on Form 8-K and are incorporated by reference herein.

Exhibit Index

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.