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LAURLaureate Education, Inc. · Insider ownership research

Laureate Education, Inc. insiders sold $4.8M in the past 12 months. How much of their stake is that?

10% was sold under disclosed trading plans, 90% with no plan disclosed. The largest seller, Marcelo Cardoso (EVP & Chief Operating Officer), sold $2.5M.Share-of-stake figures for this company are being verified and will be added when that check is finished. Why

Updated Oct 16, 2026 from SEC filings · covers Oct 17, 2025 to Oct 16, 2026
$4.3M
sold with no plan disclosed, past 12 months
9.7%
of sales were under disclosed trading plans, past 12 months
3 of 15
officers and directors sold shares, past 12 months
Is this normal? Less than usual: about a quarter of the 5-year average. 3 insiders sold; the average is 3 a year. Year by year
Latest filing: Filed Oct 2 for a stock award on Sep 30. George Munoz received an award of 556 shares. Filing
SEC ownership filings: 38 filed in the 12 months to Oct 16, 2026; 813 on record since Jun 20, 2003 · See the evidence

What stands out

Two officers sold $4.1M with no disclosed plan: Richard Buskirk ($2.1M) and Marcelo Cardoso ($2.0M). The filings don't state a reason.Richard Buskirk: largest such sale, Mar 11, 2026 · Marcelo Cardoso: largest such sale, Nov 4, 2025
Tax withholding outweighed market sales: the company withheld $5.6M of officers' and directors' shares for taxes, against $4.8M sold on the open market. The largest was Eilif Serck-Hanssen ($4.6M withheld).Largest withholding, Dec 12, 2025

A share of stake is shown for 0 of the 3 officers and directors who sold. 15 are left out

i
Left out: Ian Snow, Eilif Serck-Hanssen, Marcelo Cardoso, Richard Buskirk, George Munoz, Kenneth Freeman, Judith Rodin, Andrew Cohen, Leslie Brush, Pedro del Corro, Barbara Mair, Aristides de Macedo, Gerard Knauer, William Davis and Julian Coulter (share of stake is being verified).
Disclosed company stock is not an insider's whole wealth.

Who sold, and how much of their stake

Officers and directors, past 12 months. Their share of stake is being verified and is not shown yet; amounts and trading plans are below.

Marcelo Cardoso
EVP & Chief Operating Officer
Not confirmed
Share of stake not shown: share of stake is being verified. Why
$2.5M19% planned 81% no plan disclosed
Richard Buskirk
SVP & Chief Financial Officer
Not confirmed
Share of stake not shown: share of stake is being verified. Why
$2.1MNo plan disclosed
Judith Rodin
Director
Not confirmed
Share of stake not shown: share of stake is being verified. Why
$214KNo plan disclosed
Amounts, filings and trading plans for each seller

Selling by month

Officers and directors, Oct 2025 to Oct 2026. Each sale is counted once: under a disclosed plan, else to cover taxes, else no plan disclosed.

Disclosed planNo plan disclosedOne dollar scale for every month; the tallest bar is labeled
OctNov 2025: $2.0M no plan disclosedNovDec 2025: $214K no plan disclosedDecJan 2026: $219K under a disclosed planJanFebMar 2026: $248K under a disclosed planMar 2026: $2.1M no plan disclosed$2.3MMarAprMayJunJulAugSepOct

Recent activity

Past 30 days, Sep 17, 2026 to Oct 16, 2026

No officer or director trades were reported for the past 30 days. The most recent before that:

Mar 17, 2026Marcelo Cardoso sold 7.3K shares ($248K) to cover taxes on vesting stock.
WhoSharesPrice% of total stakeTotal stake afterTrade dateFiled
Marcelo Cardoso
EVP & Chief Operating Officer
Also under a disclosed plan
7,300$33.91n/an/aMar 17, 2026Mar 17, 2026

Outside holders, reported separately

Ian Snow (for the outside shareholder represented on the board) sold $19.1M in the past 12 months. Large shareholders and the funds or companies that board members represent are not part of management, so they are left out of the figures above.

Details

Common questions

Is the Laureate Education, Inc. CEO selling stock?

No. Eilif Serck-Hanssen reported no open-market sales in the past 12 months.

Why are Laureate Education, Inc. insiders selling?

Filings rarely give a reason, and we don't guess at one. What they show is how the sales were made: 10% of sales by value ran under 10b5-1 trading plans disclosed in the filings and 90% had no disclosed plan. A trading plan schedules sales in advance.

Are any Laureate Education, Inc. insiders buying?

No. Officers and directors reported no purchases in the past 12 months.

The evidence

Who sold3 officers and directors: amount, % of holdings, trading plan
Who soldAmount% of holdingsTrading plan
Marcelo Cardoso
EVP & Chief Operating Officer
$2.5M
84K shares
Not confirmed
share of stake is being verified. Why
19% under a disclosed plan 81% no plan disclosed
Richard Buskirk
SVP & Chief Financial Officer
$2.1M
62K shares
Not confirmed
share of stake is being verified. Why
No plan disclosed
Judith Rodin
Director
$214K
7.1K shares
Not confirmed
share of stake is being verified. Why
No plan disclosed

Board members representing outside shareholders, reported separately: Ian Snow (the shareholder sold $19.1M), Pedro del Corro. Details

The full ownership picture0 of 15 officers and directors confirmed

Vested shares across all share classes, held directly and through trusts, LLCs and family members, as reported on SEC Forms 3, 4 and 5. Unvested awards and options are never counted as owned shares.

InsiderHeld Oct 16, 2025SoldHeld Oct 16, 2026Still held
Ian Snow
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Ian Snow are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Ian Snow

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Ian Snow are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Eilif Serck-Hanssen
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Eilif Serck-Hanssen are complete.
President & CEO, Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Eilif Serck-Hanssen

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Eilif Serck-Hanssen are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
−136Kwithheld by the company for taxes
Marcelo Cardoso
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Marcelo Cardoso are complete.
EVP & Chief Operating Officer
n/a−84Kn/an/a
Vesting, gifts, unvested awards and holding lines for Marcelo Cardoso

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Marcelo Cardoso are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Richard Buskirk
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Richard Buskirk are complete.
SVP & Chief Financial Officer
n/a−62Kn/an/a
Vesting, gifts, unvested awards and holding lines for Richard Buskirk

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Richard Buskirk are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
−25Kwithheld by the company for taxes
George Munoz
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for George Munoz are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for George Munoz

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for George Munoz are complete; balances and unit counts will be added when the check is finished.

−6.2Kgifted (net of own trusts)
Kenneth Freeman
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Kenneth Freeman are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Kenneth Freeman

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Kenneth Freeman are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Judith Rodin
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Judith Rodin are complete.
Director
n/a−7.1Kn/an/a
Vesting, gifts, unvested awards and holding lines for Judith Rodin

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Judith Rodin are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Andrew Cohen
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Andrew Cohen are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Andrew Cohen

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Andrew Cohen are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Leslie Brush
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Leslie Brush are complete.
SVP, Chief Legal Officer
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Leslie Brush

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Leslie Brush are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
−5Kwithheld by the company for taxes
Pedro del Corro
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Pedro del Corro are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Pedro del Corro

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Pedro del Corro are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Barbara Mair
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Barbara Mair are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Barbara Mair

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Barbara Mair are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Aristides de Macedo
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Aristides de Macedo are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Aristides de Macedo

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Aristides de Macedo are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Gerard Knauer
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Gerard Knauer are complete.
VP, Acctg, Global Controller
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Gerard Knauer

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Gerard Knauer are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
−2.1Kwithheld by the company for taxes
William Davis
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for William Davis are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for William Davis

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for William Davis are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Julian Coulter
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Julian Coulter are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Julian Coulter

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Julian Coulter are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Holdings and share of stake for Laureate Education, Inc. are being verified, so no balances, unit counts or percentages are shown. Sales, proceeds, plan and tax status, titles and dates come straight from individual filings.

What explains the selling$4.8M of sales by plan status, purpose, seller and month

Officer and director open-market sales: $4.8M across 152,711 shares. Plan status and stated purpose are separate questions, and a sale can have both.

By plan status

The lighter segment is sales with no plan disclosed in the filing ($4.3M), including tax-related sales outside a plan.

No plan disclosed · $4.3M

Sales with no 10b5-1 plan and no tax reference in the filing. $2.1M of it is Richard Buskirk. No plan disclosed is a statement about the filing, not about why the sale happened. Largest such sale: Richard Buskirk, Mar 11, 2026

Taxes

$467K of sales (9.7%) cite tax obligations in their footnotes, $467K of them also under a plan. Separately, 167,432 shares ($5.6M) were withheld by the company for taxes, which isn't a market sale. Example: Marcelo Cardoso, Mar 17, 2026

Charitable gifts · 6.2K shares

Gifts the filings describe as charitable. Gifts are not sales and are not included in the sale totals.

SellerShares soldProceedsUnder a disclosed planShare of totalSales dates
Marcelo Cardoso
EVP & Chief Operating Officer
84K$2.5M19%52%Nov 4, 2025 to Mar 17, 2026
Richard Buskirk
SVP & Chief Financial Officer
62K$2.1M0%43%Mar 11, 2026 to Mar 11, 2026
Judith Rodin
Director
7.1K$214K0%4%Dec 8, 2025 to Dec 8, 2025

Sales by month

MonthSale proceedsDisclosed planTo cover taxesNo plan disclosed
Oct 2025$0$0$0$0
Nov 2025$2.0M$0$0$2.0M
Dec 2025$214K$0$0$214K
Jan 2026$219K$219K$0$0
Feb 2026$0$0$0$0
Mar 2026$2.3M$248K$0$2.1M
Apr 2026$0$0$0$0
May 2026$0$0$0$0
Jun 2026$0$0$0$0
Jul 2026$0$0$0$0
Aug 2026$0$0$0$0
Sep 2026$0$0$0$0
Oct 2026$0$0$0$0
Board members representing outside shareholders (2)Listed and sourced; not part of the management totals or the answer line

Directors whose reported holdings sit mostly in an investment fund or a corporate shareholder they represent, not in their own name, with beneficial ownership disclaimed except for their own financial interest. Listed and sourced here; not part of the management totals or the answer line. Shares a fund hands to its own investors are distributions, not sales.

Board memberHeld Oct 16, 2025SoldHeld Oct 16, 2026Still held
Ian Snow
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Ian Snow are complete.
Director
n/a−521Kn/an/a
Vesting, gifts, unvested awards and holding lines for Ian Snow

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Ian Snow are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Pedro del Corro
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Pedro del Corro are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Pedro del Corro

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Pedro del Corro are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Is this normal? Selling year by year5 earlier years to compare with

Less than usual: about a quarter of the 5-year average. 3 insiders sold; the average is 3 a year.

12 months endingShares soldInsiders who soldProceeds
Oct 16, 2026
Latest 12 months
153K3$4.8M
Oct 16, 2025
1 year earlier
581K5$10.3M
Oct 16, 2024
2 years earlier
2.26M3$33.0M
Oct 17, 2023
3 years earlier
41K3$518K
Oct 17, 2022
4 years earlier
297K3$3.6M
Oct 17, 2021
5 years earlier
14K1$202K

Open-market sales (Form 4 code S) by people who were officers or directors, in split-adjusted shares. Earlier years include people who have since left. A sale that an outside holder also reports (a family trust, a fund) is counted with outside holders in every year. Shares, not dollars, are compared, so a change in the stock price doesn't look like a change in selling. Years the filings don't fully cover are shown but left out of the average.

Known gaps and uncertainty15 officers and directors not confirmed

Holdings and share of stake are being verified. Balances, unit counts and every share-of-stake figure for Laureate Education, Inc. are held back until that check is finished. Sales, proceeds, plan and tax status, titles and dates come straight from individual filings and are complete.

External context: we only cite outside events when a documented connection exists. None is shown for this period.

Sources and methodology813 filings on record, 38 filed in the 12-month period, and how we read them

All 813 Forms 3, 4 and 5 on record for Laureate Education, Inc. (SEC CIK 912766), filed from Jun 20, 2003 to Oct 2, 2026; 38 of them were filed in the 12 months this page covers, retrieved from SEC EDGAR on Oct 16, 2026. Prices are the ones reported in each filing, often weighted averages.

Holdings. Each holding line (a share class plus an owner, such as a trust or LLC) carries its last reported balance forward. Entities first reported during the period start at zero, so transfers between an insider's own trusts don't count as selling. Lines not reported for three years or more are listed separately and left out of totals.

Sales. A sale counts as under a 10b5-1 plan if its footnote cites one or the filing's Rule 10b5-1 box is checked, and as tax-related if its footnote cites tax obligations or sell-to-cover. Shares withheld by the company for taxes are listed separately. Sales with neither attribute are labeled "no plan disclosed".

Full methodology

Former or inactive filers (58)No filing in 18 months; last reported balances, not in any total
NameLast filedLast reported balance
Wengen Alberta, LPMar 11, 202554,406,239 shares, last reported balance as of Mar 7, 2025
Richard Sinkfield IIIMar 19, 202467,645 shares, last reported balance as of Mar 15, 2024
KKR 2006 Fund (Overseas), Limited PartnershipNov 22, 202215,677,841 shares, last reported balance as of Oct 28, 2021
KKR Group Partnership L.P.Nov 22, 202215,677,841 shares, last reported balance as of Oct 28, 2021
COHEN STEVEN A/SAC CAPITAL MGMT LPJun 24, 202230,093,390 shares, last reported balance as of Jun 23, 2022
William CornogMay 27, 202239,965 shares, last reported balance as of May 25, 2022
Brian CarrollApr 19, 202238,266 shares, last reported balance as of Apr 15, 2022
Timothy GraceMar 17, 202288,864 shares, last reported balance as of Mar 15, 2022
Michael DurhamNov 19, 202135,609 shares, last reported balance as of Nov 17, 2021
Douglas BeckerNov 1, 20213,604,080 shares, last reported balance as of Oct 28, 2021
Saric HoehnNov 1, 2021101,191 shares, last reported balance as of May 12, 2020
Steven TaslitzNov 1, 2021115,866 shares, last reported balance as of Oct 28, 2021
Sterling Capital Partners II L PNov 1, 20212,689,430 shares, last reported balance as of Oct 28, 2021
Saric HoehnNov 1, 20212,268,988 shares, last reported balance as of Oct 28, 2021
Steven TaslitzNov 1, 20212,268,988 shares, last reported balance as of Oct 28, 2021
Tal DarmonMar 18, 20219,693 shares, last reported balance as of Mar 16, 2021
Jean-Jacques CharhonMar 18, 2021216,685 shares, last reported balance as of Mar 16, 2021
Victoria SilbeyMay 8, 202051,968 shares, last reported balance as of Mar 16, 2020
Paula SingerJan 3, 202014,797 shares, last reported balance as of Dec 31, 2019
Juan HurtadoJan 3, 202014,101 shares, last reported balance as of Dec 31, 2019
Ricardo BerckemeyerMar 19, 2019136,319 shares, last reported balance as of Mar 19, 2019
Jose LoureiroMar 19, 201919,108 shares, last reported balance as of Mar 15, 2019
Neel BrokerJan 3, 201917,202 shares, last reported balance as of Dec 31, 2018
Bregal Europe Co-Investment Limited PartnershipNov 23, 201812,747,187 shares, last reported balance as of Nov 20, 2018
Apollo Management Holdings GP, LLCMay 29, 20188,919,722 shares, last reported balance as of May 16, 2018
Jonathan KaplanJan 25, 201817,211 shares, last reported balance as of Jan 23, 2018
Robert ZentzJan 3, 201844,438 shares, last reported balance as of Dec 31, 2017
Karl SalnoskeJan 3, 20182,656 shares, last reported balance as of Dec 31, 2017
Enderson GuimaraesOct 3, 201790,208 shares, last reported balance as of Sep 29, 2017
Richard PatroAug 16, 2017No balance on record
Timothy DanielsJul 24, 201722,681 shares, last reported balance as of Apr 17, 2017
Alfonso MartinezJul 24, 20178,344 shares, last reported balance as of Apr 17, 2017
Robert ZoellickJun 5, 201725,443 shares, last reported balance as of Jun 1, 2017
Miguel CarmeloApr 19, 201729,691 shares, last reported balance as of Apr 17, 2017
Darren FriedmanFeb 3, 20173,999,536 shares, last reported balance as of Jan 31, 2017
John MillerJan 31, 201712,221 shares, last reported balance as of Jan 31, 2017
Jonathan SmidtJan 31, 201716,844 shares, last reported balance as of Jan 31, 2017
StepStone Group Holdings LLCJan 31, 20173,999,536 shares, last reported balance as of Jan 31, 2017
Quentin Van DoosselaereJan 31, 201711,915,410 shares, last reported balance as of Jan 31, 2017
Todd BensonSep 17, 2007No balance on record
Craig ThomasSep 17, 2007No balance on record
Yves De BalmannSep 17, 2007No balance on record
William DennisAug 22, 2007600,136 shares, last reported balance as of Jul 5, 2006
Raph AppadooAug 22, 2007152,000 shares, last reported balance as of May 8, 2006
Daniel NickelAug 22, 2007159,076 shares, last reported balance as of Aug 17, 2007
Rosemaire MeccaAug 22, 2007No balance on record
James McGuireJul 20, 2007No balance on record
David WilsonJul 17, 2007No balance on record
Richard RileyJul 17, 2007No balance on record
William PollockJul 17, 2007No balance on record
Isabel AguileraJan 8, 2007No balance on record
Wolf HengstJan 5, 2007No balance on record
Sean CreamerMay 17, 200578,158 shares, last reported balance as of May 13, 2005
Mcgee LeeDec 9, 2004No balance on record
Laurence BergMar 12, 2004No balance on record
John HoeyFeb 3, 20041,057 shares, last reported balance as of Dec 24, 2003
APOLLO INVESTMENT FUND IV LPNo balance on record
CPV Partners, LLCNo balance on record

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