Career Education Corporation Reports Grant Under NASDAQ Marketplace Rule 4350.HOFFMAN ESTATES, Ill. -- In accordance with NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on Marketplace Rule 4350, Career Education Corporation (NASDAQ: CECO CECO Council of Engineering Companies of Oregon CECO Cost Estimate Change Order CECO Center for Economic and Community Outreach CECO CENTCOM Engineer Contingency Organization CECO Concrete Engineering Company of Omaha (Ceco Concrete Construction LLC) ) announced that the company's Compensation Committee awarded Thomas Budlong, its new senior vice president of organization effectiveness and administration, certain stock options and restricted stock effective on August 31, 2007, his first date of employment. As part of his restricted stock award, Budlong received 7,000 shares of restricted stock granted as an inducement award outside of the Career Education Corporation 1998 Employee Incentive Compensation Plan, as amended (the "Plan") and without shareholder approval pursuant to Section 4350(i)(1)(A)(iv) of the NASDAQ Marketplace Rules. These 7,000 shares of restricted stock vest on the first anniversary of the date of grant, subject to Budlong's continued employment with the company. In addition, such shares will become fully vested if Budlong, during the first 12 months of his employment, terminates his employment for good reason (as defined in his employment letter), or if the company terminates Budlong's employment other than for cause (as defined in the Plan). About Career Education Corporation The colleges, schools, and universities that are part of the Career Education Corporation (CEC (Central Electronic Complex) The set of hardware that defines a mainframe, which includes the CPU(s), memory, channels, controllers and power supplies included in the box. Some CECs, such as IBM's Multiprise 2000 and 3000, include data storage devices as well. ) family offer high quality education to a diverse population of approximately 90,000 students across the world in a variety of career-oriented disciplines. The more than 75 campuses that serve these students are located throughout the U.S. and in Canada, France, Italy, and the United Kingdom, and offer doctoral, master's, bachelor's, and associate degrees and diploma and certificate programs. Approximately forty percent of students attend the web-based virtual campuses of American InterContinental University American InterContinental University, commonly called AIU, is an international for-profit university owned by Career Education Corporation (stock symbol CECO). It was founded in 1977 as the American College of Applied Arts. Online and Colorado Technical University Colorado Technical University (CTU) is a system of proprietary for-profit colleges in the United States providing career training, accredited programs, and college degrees in a variety of areas. CTU grants bachelor's, master's and doctoral degrees. Online. CEC is an industry leader whose gold-standard brands are recognized globally. Those brands include Le Cordon Bleu For the Schnitzel variant, see . Le Cordon Bleu (French for "blue ribbon") is an international group of hospitality management and cooking schools teaching French cuisine. Schools North America; Harrington College of Design Harrington College of Design is located in the Loop area of Chicago, Illinois. It offers students programs leading to either a bachelor's or associate's degree upon completion of the Interior Design Program, Digital Photography Program, or Communication Design Program. ; Brooks Institute of Photography The Brooks Institute of Photography is a for-profit college based in Santa Barbara, California and Ventura, California. Brooks offers four majors. The Still photography program is based in Santa Barbara, and the Visual communications (Graphic Design), Motion Picture/Video and ; International Academy of Design & Technology; American InterContinental University; Colorado Technical University and Sanford-Brown Institutes and Colleges. Through its schools, CEC is committed to providing quality education, enabling students to graduate and pursue rewarding careers. For more information, see the company's website at http://www.careered.com. The company's website includes a detailed listing of individual campus locations and web links to its more than 75 colleges, schools, and universities. |
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