AMERICAN PUBLIC EDUCATION INC

The Company and Mark Arnold, President of RU, determined on August 5, 2026, that his employment will end effective August 20, 2026. Subject to his execution and non-revocation of a separation agreement and general release of claims, Mr. Arnold will receive severance benefits under the terms of the American Public Education, Inc. Executive Severance Plan (the “Plan”) consistent with the provisions for a termination of Mr. Arnold’s employment by us without “Cause” or by Mr. Arnold for “Good Reason,” each as defined in the Plan. A copy of the Plan is filed as Exhibit 10.2 to our Current Report on Form 8-K filed on May 15, 2017. We have begun the process of identifying the next leader of our Health+ division.

Rule 10b5-1 Trading Arrangements

During the three months ended June 30, 2026, none of our directors or officers adopted orterminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K, except as described in the table below.

(1) The figure presented represents shares to be sold upon the vesting of equity awards. The actual number of shares under the trading arrangement may be different than the aggregate number of shares listed due to tax withholdings.

(2) This trading arrangement will expire upon the earlier to occur of the completion of all eligible sales during the final sale period from April 22, 2027 through April 30, 2027, and the date listed in the table.