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FORM 4
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|_| CHECK THIS BOX IF NO LONGER SUBJECT TO SECTION 16. FORM 4 OR FORM 5
OBLIGATIONS MAY CONTINUE. SEE INSTRUCTION 1(B).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act
of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
(Print or Type Responses)
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1. Name and Address of Reporting Person*
New Mountain GP, LLC
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(Last) (First) (Middle)
712 Fifth Avenue, 23rd Floor
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(Street)
New York NY 10019
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(City) (State) (Zip)
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2. Issuer Name AND Ticker or Trading Symbol
Strayer Education, Inc. (NASDAQ: STRA)
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3. I.R.S. or Identification Number of Reporting Person (Voluntary)
13-4099827
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4. Statement for Month/Year
May 2001
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[ ] Director [X] 10% Owner
[_] Officer [_] Other
(give title below) (specify below)
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7. Individual or Joint/Group Filing (Check Applicable Line)
[X] Form filed by one Reporting Person
[_] Form filed by More than One Reporting Person
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TABLE I -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR
BENEFICIALLY OWNED
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4. Securities Acquired (A) 5. Amount of 6. Ownership 7. Nature of
3. Transaction or Disposed of (D) Securities Form: Direct Indirect
Code(Instr.8) (Instr. 3, 4 and 5) Beneficially (D) or Beneficial
1. Title of -------------- ------------------------ Owned at End of Indirect (I) Ownership
Security 2. Transaction Date Code V Amount (A) Price Month (Instr. 4) (Instr. 4)
(Instr. 3) (Month/Day/Year) or (D) (Instr. 3 and 4)
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
(Over)
SEC 1474 (3-99)
Page 1 of 2
FORM 4 (continued)
TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR
BENEFICIALLY OWNED (E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE
SECURITIES)
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1. Title of 2. Conver- 3. Trans- 4. Trans 5. Number of 6. Date 7. Title and 8. Price 9. Num 10. Ownership 11. Nature
Derivative sion or action action Derivative Exercisable Amount of of ber Form of of In-
Security Exercise Date Code Securities and Expiration Under- Deriv- of Deriv- direct
(Instr. 3) Price of (Month/ (Instr. Acquired (A) Date lying ative Deriv- ative Benefi-
Deriva- Day/ 8) or Disposed (Month (Securities Security ative Security: cial
tive Year) -------- of (D) Day/Year) (Instr. (Instr.5) Secur- Direct Owner-
Security Code V (Instr. ------------- 3 and 4) ities (D) or ship
3, 4, Date Expira- ------------- Bene- Indirect (Instr.
and 5) Exer- tion Title Amount ficially (I) 4)
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(A) (D) Number at End
of of Month
Shares (Instr. 4)
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Series A $26.00 5/15/01 P 4,423,077 Immed. Common 4,423,077 $26.00 4,423,077 I (4)
Convertible (2) Stock (3) (3)
Preferred
Stock (1)
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Options to $30.00 5/15/01 P 767,000 Immed. 5/15/04 Common 767,000 767,000 I (4)
Purchase options Stock
Common Stock
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Explanation of Responses:
(1) The Series A Convertible Preferred Stock is subject to some restrictions as
set forth in the Articles Supplementary of Strayer Education, Inc.
("Strayer"), and a Shareholders Agreement, dated as of March 16, 2001, by
and between New Mountain Partners, L.P. ("New Mountain Partners") and DB
Capital Investors, L.P. ("DB Capital").
(2) The conversion price of the Series A Convertible Preferred Stock is subject
to antidilution and other adjustments.
(3) As of 5/15/01. The number of shares of Common Stock underlying the Series
A Convertible Preferred Stock shall increase as dividends accumulate and
compound.
(4) The Reporting Person is the General Partner of New Mountain Investments,
L.P. ("NMI"), which is the General Partner of New Mountain Partners.
New Mountain Partners pursuant to the Preferred Stock Purchase Agreement,
dated as of November 28, 2000, by and among Stayer, New Mountain Partners
and DB Capital, purchased 4,423,077 shares of Series A Convertible
Preferred Stock from Strayer for $115 million. In addition New Mountain
Partners was granted an option to purchase up to 767,000 shares of Common
Stock by Ron K. Bailey and Beverly Bailey (the "Baileys") pursuant to the
Support and Option Agreement (the "Support and Option Agreement"), dated
as of November 28, 2000, by and among the Baileys, Strayer, New Mountain
and DB Capital.
NEW MOUNTAIN GP, LLC
By: /s/ Steven B. Klinsky 6/8/01
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Steven B. Klinsky Date
Member
**Signature of Reporting Person
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space is insufficient, see Instruction 6 for procedure.
Page 2 of 2 SEC 1474 (3-99)