STRA · Strategic Education, Inc.

The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 Trading Plan adopted by the reporting person on December 12, 2025.

Represents an award of restricted stock which will vest in three equal annual installments beginning April 22, 2027.

Represents an award of restricted stock which will vest in three equal annual installments beginning April 22, 2027.

Represents an award of restricted stock which will vest in three equal annual installments beginning April 22, 2027.

Represents an award of restricted stock which will vest in three equal annual installments beginning April 22, 2027.

Represents an award of restricted stock issued to the reporting person in lieu of board cash retainer fees of $80,000. The award vests in three equal annual installments beginning April 22, 2027.

Represents an award of restricted stock which will vest in three equal annual installments beginning April 22, 2027.

Represents an award of restricted stock which will vest in three equal annual installments beginning April 22, 2027.

Represents an award of restricted stock which will vest in three equal annual installments beginning April 22, 2027.

Represents an award of restricted stock which will vest in three equal annual installments beginning April 22, 2027.

Represents an award of restricted stock which will vest in three equal annual installments beginning April 22, 2027.

Represents an award of restricted stock which will vest in three equal annual installments beginning April 22, 2027.

Represents an award of restricted stock issued to the reporting person in lieu of board cash retainer fees of $80,000. The award vests in three equal annual installments beginning April 22, 2027.

The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 Trading Plan adopted by the reporting person on December 12, 2025.

Weighted average share price, as these shares were sold in multiple transactions at prices ranging from $79.36 to $80.30, inclusive. The reporting person undertakes to provide Strategic Education, Inc., any security holder of Strategic Education, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in the footnotes of this Form 4.

Includes 605 shares acquired through the Company's 401(k) and Employee Stock Purchase plans.

The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 Trading Plan adopted by the reporting person on December 12, 2025.

Weighted average share price, as these shares were sold in multiple transactions at prices ranging from $79.97 to $80.47, inclusive. The reporting person undertakes to provide Strategic Education, Inc., any security holder of Strategic Education, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in the footnotes of this Form 4.

Includes 605 shares acquired through the Company's 401(k) and Employee Stock Purchase plans.

Includes 851 shares acquired under the Company's 401(k) plan.

The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 Trading Plan adopted by the reporting person on December 12, 2025.

Weighted average share price, as these shares were sold in multiple transactions at prices ranging from $78.97 to $79.96, inclusive.

The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 Trading Plan adopted by the reporting person on September 4, 2025.

Weighted average share price, as these shares were sold in multiple transactions at prices ranging from $83.41 to $83.99, inclusive. The reporting person undertakes to provide Strategic Education, Inc., any security holder of Strategic Education, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in the footnotes of this Form 4.

The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 Trading Plan adopted by the reporting person on September 4, 2025.

Weighted average share price, as these shares were sold in multiple transactions at prices ranging from $81.23 to $82.06, inclusive.

The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 Trading Plan adopted by the reporting person on September 4, 2025.

Weighted average share price, as these shares were sold in multiple transactions at prices ranging from $82.24 to $83.05, inclusive.

These shares are restricted and will vest on February 26, 2030, subject to the satisfaction of certain performance criteria.

These shares are restricted and will vest on February 26, 2030, subject to the satisfaction of certain performance criteria.

Includes 851 shares acquired under the Company's 401(k) plan.

These shares are restricted and will vest on February 26, 2030.

These shares are restricted and will vest on February 26, 2030, subject to the satisfaction of certain performance criteria.

These shares are restricted and will vest on February 26, 2030, subject to the satisfaction of certain performance criteria.

These shares are restricted and will vest on February 26, 2030, subject to the satisfaction of certain performance criteria.

Includes 605 shares acquired through the Company's 401(k) and Employee Stock Purchase plans.

Number of shares withheld to cover taxes with respect to performance-based restricted shares that vested on February 24, 2026.

Number of shares withheld to cover taxes with respect to performance-based restricted shares that vested on February 24, 2026.

The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 Trading Plan adopted by the reporting person on March 5, 2025.

Weighted average share price, as these shares were sold in multiple transactions at prices ranging from $75.37 to $75.83, inclusive. The reporting person undertakes to provide Strategic Education, Inc., any security holder of Strategic Education, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in the footnotes of this Form 4.

Number of shares withheld to cover taxes with respect to performance-based restricted shares that vested on February 24, 2026.

Number of shares withheld to cover taxes with respect to performance-based restricted shares that vested on February 24, 2026.

Number of shares withheld to cover taxes with respect to restricted shares that vested on February 24, 2026.

Number of shares withheld to cover taxes with respect to performance-based restricted shares that vested on February 24, 2026.

The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 Trading Plan adopted by the reporting person on March 5, 2025.

Weighted average share price, as these shares were sold in multiple transactions at prices ranging from $74.37 to $75.36, inclusive.

The amount shown has been adjusted to reflect the addition of an aggregate of 59 shares purchased from time to time between 2023 and 2025 pursuant to the automatic reinvestment of issuer cash dividends by the Reporting Person's broker.

Weighted average share price, as these shares were sold in multiple transactions at prices ranging from $80.00 to $80.50, inclusive. The reporting person undertakes to provide Strategic Education, Inc., any security holder of Strategic Education, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in the footnotes of this Form 4.

Represents an award of restricted stock which will vest in three equal annual installments beginning April 23, 2026.

Represents an award of restricted stock which will vest in three equal annual installments beginning April 23, 2026.

Represents an award of restricted stock which will vest in three equal annual installments beginning April 23, 2026.

Represents an award of restricted stock which will vest in three equal annual installments beginning April 23, 2026.

Represents an award of restricted stock which will vest in three equal annual installments beginning April 23, 2026.

Represents an award of restricted stock which will vest in three equal annual installments beginning April 23, 2026.

Represents an award of restricted stock which will vest in three equal annual installments beginning April 23, 2026.

Represents an award of restricted stock which will vest in three equal annual installments beginning April 23, 2026.

Represents an award of restricted stock which will vest in three equal annual installments beginning April 23, 2026.