<SEC-DOCUMENT>0001104659-17-005547.txt : 20170131
<SEC-HEADER>0001104659-17-005547.hdr.sgml : 20170131
<ACCEPTANCE-DATETIME>20170131201445
ACCESSION NUMBER:		0001104659-17-005547
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20170131
FILED AS OF DATE:		20170131
DATE AS OF CHANGE:		20170131

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LAUREATE EDUCATION, INC.
		CENTRAL INDEX KEY:			0000912766
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-EDUCATIONAL SERVICES [8200]
		IRS NUMBER:				521492296
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		650 S. EXETER STREET
		CITY:			BALTIMORE
		STATE:			MD
		ZIP:			21202
		BUSINESS PHONE:		4108436100

	MAIL ADDRESS:	
		STREET 1:		650 S. EXETER STREET
		CITY:			BALTIMORE
		STATE:			MD
		ZIP:			21202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SYLVAN LEARNING SYSTEMS INC
		DATE OF NAME CHANGE:	19930929

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Martinez Alfonso
		CENTRAL INDEX KEY:			0001456592

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38002
		FILM NUMBER:		17562758

	MAIL ADDRESS:	
		STREET 1:		650 S. EXETER STREET
		CITY:			BALTIMORE
		STATE:			MD
		ZIP:			21202
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>a3.xml
<DESCRIPTION>3
<TEXT>
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<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2017-01-31</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000912766</issuerCik>
        <issuerName>LAUREATE EDUCATION, INC.</issuerName>
        <issuerTradingSymbol>LAUR</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001456592</rptOwnerCik>
            <rptOwnerName>Martinez Alfonso</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>650 SOUTH EXETER STREET</rptOwnerStreet1>
            <rptOwnerStreet2>12TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>BALTIMORE</rptOwnerCity>
            <rptOwnerState>MD</rptOwnerState>
            <rptOwnerZipCode>21202</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Human Resources Officer</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
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                <value>Class B Common Stock</value>
            </securityTitle>
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                <value>0</value>
                <footnoteId id="F1"/>
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                <footnoteId id="F1"/>
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            <underlyingSecurity>
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                <underlyingSecurityShares>
                    <value>7068</value>
                </underlyingSecurityShares>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
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        </derivativeHolding>
        <derivativeHolding>
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            </securityTitle>
            <conversionOrExercisePrice>
                <value>23.20</value>
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                <footnoteId id="F2"/>
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                <value>2023-10-02</value>
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                    <footnoteId id="F1"/>
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                <value>2023-10-02</value>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
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                    <footnoteId id="F1"/>
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            <expirationDate>
                <value>2024-07-10</value>
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                <underlyingSecurityTitle>
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                    <footnoteId id="F1"/>
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                <underlyingSecurityShares>
                    <value>2927</value>
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            <ownershipNature>
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        <derivativeHolding>
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            <exerciseDate>
                <footnoteId id="F5"/>
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                    <footnoteId id="F1"/>
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                <footnoteId id="F6"/>
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                <value>2025-03-04</value>
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                    <footnoteId id="F1"/>
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                <underlyingSecurityShares>
                    <value>2943</value>
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                    <value>D</value>
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            <securityTitle>
                <value>Employee Stock Option (right to buy)</value>
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            <conversionOrExercisePrice>
                <value>23.20</value>
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            <exerciseDate>
                <footnoteId id="F7"/>
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            <expirationDate>
                <value>2025-03-04</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class B Common Stock</value>
                    <footnoteId id="F1"/>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1471</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
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        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Employee Stock Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>23.24</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F8"/>
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            <expirationDate>
                <value>2026-05-02</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class B Common Stock</value>
                    <footnoteId id="F1"/>
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                <underlyingSecurityShares>
                    <value>1900</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
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        <derivativeHolding>
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                <underlyingSecurityTitle>
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                    <footnoteId id="F1"/>
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                <underlyingSecurityShares>
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                </directOrIndirectOwnership>
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        <derivativeHolding>
            <securityTitle>
                <value>Performance Share Units</value>
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            <conversionOrExercisePrice>
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            <exerciseDate>
                <footnoteId id="F10"/>
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            <expirationDate>
                <footnoteId id="F10"/>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class B Common Stock</value>
                    <footnoteId id="F1"/>
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                <underlyingSecurityShares>
                    <value>462</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Performance Share Units</value>
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            <conversionOrExercisePrice>
                <footnoteId id="F11"/>
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            <exerciseDate>
                <footnoteId id="F11"/>
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            <expirationDate>
                <footnoteId id="F11"/>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class B Common Stock</value>
                    <footnoteId id="F1"/>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>771</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        <derivativeHolding>
            <securityTitle>
                <value>Performance Share Units</value>
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            <conversionOrExercisePrice>
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            <exerciseDate>
                <footnoteId id="F12"/>
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                <footnoteId id="F12"/>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class B Common Stock</value>
                    <footnoteId id="F1"/>
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                <underlyingSecurityShares>
                    <value>1968</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
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            <exerciseDate>
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            <expirationDate>
                <footnoteId id="F13"/>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class B Common Stock</value>
                    <footnoteId id="F1"/>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>3125</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
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                <value>Restricted Stock Units</value>
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            <conversionOrExercisePrice>
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            <exerciseDate>
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                <footnoteId id="F14"/>
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            <expirationDate>
                <footnoteId id="F14"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class B Common Stock</value>
                    <footnoteId id="F1"/>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1500</value>
                </underlyingSecurityShares>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Restricted Stock Units</value>
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            <conversionOrExercisePrice>
                <footnoteId id="F15"/>
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            <exerciseDate>
                <footnoteId id="F15"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F15"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class B Common Stock</value>
                    <footnoteId id="F1"/>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>656</value>
                </underlyingSecurityShares>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Restricted Stock Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F16"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2017-12-31</value>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F16"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class B Common Stock</value>
                    <footnoteId id="F1"/>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>12500</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Restricted Stock Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F17"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2018-06-17</value>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F17"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class B Common Stock</value>
                    <footnoteId id="F1"/>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>3125</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Each share of Class B Common Stock (&quot;Class B Common Stock&quot;) of Laureate Education, Inc. (the &quot;Company&quot;) is convertible into one share of Class A Common Stock of the Company (&quot;Class A Common Stock&quot;) upon the election of the holder or upon transfer, subject to the terms of the Company's Amended and Restated Certificate of Incorporation.</footnote>
        <footnote id="F2">5,600 of these options are exercisable immediately.  Subject to the reporting person's continued employment, 20% will become exercisable on December 31, 2017.</footnote>
        <footnote id="F3">4,200 of these options are exercisable immediately.  Subject to the reporting person's continued employment, (A) 20% will become exercisable if the Company achieves the applicable equity value target determined pursuant to the Company's 2013 Long-Term Incentive Plan (the &quot;Equity Value Target&quot; and the &quot;2013 Plan&quot;, respectively) with respect to fiscal year 2016; and (B)  20% will become exercisable if the Company achieves the applicable Equity Value Target with respect to fiscal year 2017.</footnote>
        <footnote id="F4">1,756 of these options are exercisable immediately.  Subject to the reporting person's continued employment, (A) 20% will become exercisable on December 31, 2017, and (B) 20% will become exercisable on December 31, 2018.</footnote>
        <footnote id="F5">585 of these options are exercisable immediately.  Subject to the reporting person's continued employment, (A) 20% will become exercisable if the Company achieves the applicable Equity Value Target with respect to fiscal year 2016, (B)  20% will become exercisable if the Company achieves the applicable Equity Value Target with respect to fiscal year 2017, and (C) 20% will become exercisable if the Company achieves the applicable Equity Value Target with respect to fiscal year 2018.</footnote>
        <footnote id="F6">1,177 of these options are exercisable immediately.  Subject to the reporting person's continued employment, (A) 20% will become exercisable on December 31, 2017, (b) 20% will become exercisable on December 31, 2018, and (C) 20% will become exercisable on December 31, 2019.</footnote>
        <footnote id="F7">294 of these options are exercisable immediately. Subject to the reporting person's continued employment, (A) 20% will become exercisable if the Company achieves the applicable Equity Value Target with respect to fiscal year 2016, (B)  20% will become exercisable if the Company achieves the applicable Equity Value Target with respect to fiscal year 2017, (C) 20% will become exercisable if the Company achieves the applicable Equity Value Target with respect to fiscal year 2018, and (D) 20% will become exercisable if the Company achieves the applicable Equity Value Target with respect to fiscal year 2019.</footnote>
        <footnote id="F8">633 of these options are exercisable immediately.  Subject to the reporting person's continued employment, (A) one-third (1/3) will become exercisable on December 31, 2017, and (B) one-third (1/3) will become exercisable on December 31, 2018.</footnote>
        <footnote id="F9">Each Performance Share Unit (&quot;PSU&quot;) represents the right to receive one share of Class B Common Stock. On the vesting date, the reporting person will be issued a corresponding number of shares of Class B Common Stock. Subject to the reporting person's continued employment, (A) one-half (1/2) will vest if the Company achieves the applicable Equity Value Target with respect to fiscal year 2016, and (B) one-half (1/2) will vest if the Company achieves the applicable Equity Value Target with respect to fiscal year 2017.</footnote>
        <footnote id="F10">Each PSU represents the right to receive one share of Class B Common Stock. On the vesting date, the reporting person will be issued a corresponding number of shares of Class B Common Stock. Subject to the reporting person's continued employment, (A) one-third (1/3) will vest if the Company achieves the applicable Equity Value Target with respect to fiscal year 2016, (B) one-third (1/3) will vest if the Company achieves the applicable Equity Value Target with respect to fiscal year 2017, and (C) one-third (1/3) will vest if the Company achieves the applicable Equity Value Target with respect to fiscal year 2018.</footnote>
        <footnote id="F11">Each PSU represents the right to receive one share of Class B Common Stock. On the vesting date, the reporting person will be issued a corresponding number of shares of Class B Common Stock. Subject to the reporting person's continued employment, (A) 20% will vest if the Company achieves the applicable Equity Value Target with respect to fiscal year 2015 based on the Company's audited financials for 2016, (B) 20% will vest if the Company achieves the applicable Equity Value Target with respect to fiscal year 2016, (C) 20% will vest if the Company achieves the applicable Equity Value Target with respect to fiscal year 2017, (D) 20% will vest if the Company achieves the applicable Equity Value Target with respect to fiscal year 2018, and (E) 20% will vest if the Company achieves the applicable Equity Value Target with respect to fiscal year 2019.</footnote>
        <footnote id="F12">Each PSU represents the right to receive one share of Class B Common Stock.  On the vesting date, the reporting person will be issued a corresponding number of shares of Class B Common Stock. These PSUs will vest if certain performance goals with respect to these PSUs have been achieved.  The total number of PSUs which can vest is determined based upon the Company's achievement of performance goals for the period from January 1, 2016 through December 31, 2018, as set forth in the award.  Subject to the reporting person's continued employment, if the threshold performance goals are met, the minimum number of PSUs that will vest will be 984 and if performance goals are exceeded the maximum number of PSUs that can vest will be 3,937. If the Company does not achieve the threshold level of performance, zero PSUs will become vested.</footnote>
        <footnote id="F13">Each PSU represents the right to receive one share of Class B Common Stock. On the vesting date, the reporting person will be issued a corresponding number of shares of Class B Common Stock. Subject to the reporting person's continued employment, (A) 50% will vest if the Company achieves the applicable Equity Value Target with respect to fiscal year 2016 based on the Company's audited financials for 2016 and 2017, and (B) 50% will vest if the Company achieves the applicable Equity Value Target with respect to fiscal year 2017.</footnote>
        <footnote id="F14">Each Restricted Stock Unit (&quot;RSU&quot;) represents the right to receive one share of Class B Common Stock. On the vesting date, the reporting person will be issued a corresponding number of shares of Class B Common Stock. Subject to the reporting person's continued employment, these RSUs will vest on December 31, 2017.</footnote>
        <footnote id="F15">Each RSU represents the right to receive one share of Class B Common Stock. On the vesting date, the reporting person will be issued a corresponding number of shares of Class B Common Stock. Subject to the reporting person's continued employment, (A) half (1/2) will vest on December 31, 2017, and (B) half (1/2) will vest on December 31, 2018.</footnote>
        <footnote id="F16">Subject to the reporting person's continued employment, on December 31, 2017 all of these RSUs will vest and the reporting person will be issued a corresponding number of shares of Class B Common Stock.</footnote>
        <footnote id="F17">Subject to the reporting person's continued employment, on June 17, 2018 all of these RSUs will vest and the reporting person will be issued a corresponding number of shares of Class B Common Stock.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Sean P. Mulcahy, Attorney-in-Fact</signatureName>
        <signatureDate>2017-01-31</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
