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OMB APPROVAL
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OMB NUMBER 3235-0287
Expires: January 31, 2005
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
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
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
(Print or Type Responses)
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1. Name and Address of Reporting Person*
Taunus Corporation
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(Last) (First) (Middle)
31 West 52nd Street
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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. (NASD: STRA)
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3. I.R.S. Identification Number of Reporting Person, if an entity (voluntary)
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4. Statement for Month/Day/Year
November 20, 2002
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5. If Amendment, Date of Original (Month/Day/Year)
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6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[ ] Director [ x ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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7. Individual or Joint/Group Filing (Check Applicable Line)
[ ] Form filed by One Reporting Person
[ X] Form filed by More than One Reporting Person
* If the form is filed by more than one reporting person,
see Instruction 4(b)(v).
Page 1 of 6
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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1. Title of 2. Transaction Date 2A. Deemed 3. Transaction Code
Security (Month/Day/Year) Execution (Instr. 8)
(Instr. 3) Date, if any
(Month/Day/Year)
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Code V
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Common Stock 11/20/02 (1) C
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Common Stock 11/20/02 (1) S
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Table I (cont.) -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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1. Title of 4. Securities Acquired (A) 5. Amount of 6. Ownership Form: 7. Nature of Indirect
Security or Disposed of (D) Securities Direct (D) or Beneficial Ownership
(Instr. 3) (Instr. 3, 4 and 5) Beneficially Indirect (I) (Instr. 4)
Owned Follow- (Instr. 4)
ing Reported
Transaction(s)
(Instr. 3 and
4)
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(A)
or
Amount (D) Price
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Common Stock 600,000 A (1) (2) (2)
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Common Stock 600,000 D $49.27 6,615 (3) (3) (3)
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Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(1) On November 14, 2002, DB Capital Investors, L.P. ("DBCI"), New Mountain
Partners, L. P. ("New Mountain" and, together with DBCI, the "Selling
Stockholders"), Strayer Education, Inc. ("Strayer") and Credit Suisse First
Boston Corporation, Banc of America Securities LLC and Legg Mason Wood Walker,
Incorporated, as representatives of the several underwriters, entered into an
Underwriting Agreement (the "Underwriting Agreement") in connection with the
Selling Stockholders' offering of up to 2,300,000 shares of common stock, par
value $0.01 per share, of Strayer (the "Common Stock") (to be issued upon
conversion of Series A Convertible Preferred Stock of Strayer (the "Series A
Convertible Preferred Stock")) pursuant to a Registration Statement on Form S-3
(File No. 333-100407) declared effective by the Securities and Exchange
Commission on the same date. On November 20, 2002, DBCI converted 600,000 shares
of Series A Convertible Preferred Stock into an equal number of shares of Common
Stock. On November 20, 2002, pursuant to the Underwriting Agreement, the
underwriters named therein purchased 600,000 shares of Common Stock beneficially
owned by DBCI (including full exercise of the underwriters' over-allotment
option) at a price of $52.00 per share, less underwriting discounts and
commissions of $2.73 per share, in connection with the public resale of the
Common Stock.
(2) This Form 4 is being filed jointly by Taunus Corporation ("Taunus"), a
corporation organized under the laws of the State of Delaware, DB Capital
Partners, Inc. ("DBCP Inc."), a corporation organized under the laws of the
State of Delaware, DB Capital Partners, L.P. ("DBCP L.P."), a limited
partnership organized under the laws of the State of Delaware and DBCI, a
limited partnership organized under the laws of the State of Delaware. DBCI is
an indirect wholly-owned subsidiary of Taunus, and DBCP Inc. is the general
partner of DBCP L.P., which in turn is the general partner of DBCI. Each of
Taunus, DBCP Inc. and DBCP L.P. may be deemed to be the beneficial owner of the
shares of Common Stock beneficially owned by DBCI. Taunus expressly disclaims
beneficial ownership of, or pecuniary interest in, the 600,000 shares of Common
Stock issued upon conversion of the same number of Series A Convertible
Preferred Stock reported in Table I above.
(3) Deutsche Bank Securities Inc. ("DBSI") (formerly known as Deutsche Banc
Alex. Brown Inc.) is the direct owner of the 6,615 shares of Common Stock
reported in Table I above. Taunus may be deemed to be the beneficial owner of
the 6,615 shares of Common Stock owned by DBSI, which is a wholly-owned
subsidiary of Taunus. Taunus, DBCP Inc., DBCP L.P. and DBCI each expressly
disclaim beneficial ownership of, or any pecuniary interest in, the 6,615 shares
of Common Stock reported in Table I above.
Page 2 of 6
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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. Conversion 3. Transaction 3A. Deemed 4. Transaction 5. Number of
Derivative or Exercise Date Execution Code Derivative
Security Price of (Month/Day/Year) Date, if any (Instr. 8) Securities
(Instr. 3) Derivative (Month/Day/Year) Acquired (A)
Security or Disposed
of (D)
(Instr. 3, 4
and 5)
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Code V (A) (D)
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Series A
Convertible
Preferred
Stock (4) $26.00 (5) 11/20/02 C 600,000
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Table II (cont.) -- Derivative Securities Acquired, Disposed of, or Beneficially
Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of 6. Date Exercisable and 7. Title and Amount 8. Price of 9. Number of 10. Ownership 11. Nature of
Derivative Expiration Date of Underlying Derivative Derivative Form of Indirect
Security (Month/Day/Year) Securities Security Securities Derivative Beneficial
(Instr. 3) (Instr. 3 and 4) (Instr. 5) Beneficially Securities: Ownership
Owned Fol- Direct (D) (Instr. 4)
lowing or Indirect
Reported (I)
Transaction(s) (Instr. 4)
(Instr. 4)
Amount or
Date Expiration Number of
Exercisable Date Title Shares
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Series A
Convertible
Preferred Common
Stock (4) Immediate Stock 600,000 813,640 (6) (7) (7)
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(4) The Series A Convertible Preferred Stock is subject to certain restrictions
as set forth in the Articles Supplementary of Strayer, a Shareholders Agreement,
dated as of March 16, 2001, by and between DBCI and New Mountain and a Letter
Agreement, dated November 14, 2002, by and between DBCI, New Mountain and
Strayer.
(5) The conversion price of the Series A Convertible Preferred Stock is subject
to certain antidilution adjustments.
(6) The number of shares of Common Stock underlying the Series A Convertible
Preferred Stock increases as dividends accumulate on the Series A Convertible
Preferred Stock (of which a portion of such dividends are payable in additional
shares of Series A Convertible Preferred Stock).
(7) DBCI is the direct owner of all of the Series A Convertible Preferred Stock
reported in Table II above. Each of Taunus, DBCP Inc. and DBCP L.P. may be
deemed to be the beneficial owner of the shares of Series A Convertible
Preferred Stock beneficially owned by DBCI. Taunus expressly disclaims
beneficial ownership of, or pecuniary interest in, the Series A Convertible
Preferred Stock reported in Table II above.
Page 3 of 6
Joint Filer Information
Name: DB Capital Partners, Inc.
IRS Identification Number: 13-2725387
Designated Filer: Taunus Corporation
Issuer and Trading Symbol: Strayer Education, Inc. (NASD: STRA)
Date of Event Requiring
Statement: November 20, 2002
Name: DB Capital Partners, L.P.
IRS Identification Number: 52-2046858
Designated Filer: Taunus Corporation
Issuer and Trading Symbol: Strayer Education, Inc. (NASD: STRA)
Date of Event Requiring
Statement: November 20, 2002
Name: DB Capital Investors, L.P.
IRS Identification Number: 52-2046859
Designated Filer: Taunus Corporation
Issuer and Trading Symbol: Strayer Education, Inc. (NASD: STRA)
Date of Event Requiring
Statement: November 20, 2002
Page 4 of 6
TAUNUS CORPORATION
/s/ James T. Byrne, Jr. November 21, 2002
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** Signature of Reporting Person Date
Name: James T. Byrne, Jr.
Title: Secretary
DB CAPITAL PARTNERS, INC.
/s/ Charles Ayres November 21, 2002
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** Signature of Reporting Person Date
Name: Charles Ayres
Title: Managing Director
DB CAPITAL PARTNERS, L.P.
By: DB CAPITAL PARTNERS, INC., its
General Partner
/s/ Charles Ayres November 21, 2002
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** Signature of Reporting Person Date
Name: Charles Ayres
Title: Managing Director
Page 5 of 6
DB CAPITAL INVESTORS, L.P.
By: DB CAPITAL PARTNERS, L.P., its
General Partner
By: DB CAPITAL PARTNERS, INC., its
General Partner
/s/ Charles Ayres November 21, 2002
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** Signature of Reporting Person Date
Name: Charles Ayres
Title: Managing Director
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Page 6 of 6