---
schema_version: "secwatch.filing_event.v1"
accession: "0001553350-21-000678"
form_type: "8-K"
ticker: "ASPU"
cik: "0001487198"
company_name: "ASPEN GROUP, INC."
filed_at: "2021-08-16T23:59:59+00:00"
generated_at: "2026-06-29T09:55:16.227599+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Aspen Group appoints Matthew LaVay as CFO with $325K salary, 125K RSUs

## Summary
- Employment Agreement effective Aug 16, 2021; four-year term with automatic one-year renewals.
- Annual base salary of $325,000; eligible for performance bonus tied to Adjusted EBITDA thresholds.
- Grant of 125,000 RSUs vesting in three equal annual installments starting Aug 16, 2022.
- Housing allowance of $5,000/month until relocation to Phoenix metro area.
- Severance provisions: 12 months base salary on termination without cause or for good reason; 18 months on change of control.

## SEC filing metadata
- accession: 0001553350-21-000678
- form_type: 8-K
- ticker: ASPU
- cik: 0001487198
- company_name: ASPEN GROUP, INC.
- filed_at: 2021-08-16T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1487198/000155335021000678/0001553350-21-000678-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1487198/000155335021000678/aspu_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001553350-21-000678
- JSON: https://secwatch.observer/filing/0001553350-21-000678.json
- Plain text: https://secwatch.observer/filing/0001553350-21-000678.txt

## Key facts
- Executive change
  Matthew LaVay was appointed as Chief Financial Officer at ASPEN GROUP, INC..
  - Action: appointed
  - Role: Chief Financial Officer
  source text: Effective on August 16, 2021, Aspen Group, Inc. (the “Company”) entered into an Employment Agreement with Matthew LaVay, who had been appointed as the Chief Financial Officer of the Company on July 8, 2021 with the effective date of August 16, 2021.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1487198/000155335021000678/0001553350-21-000678-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.