SCHEDULE 13G

American Public Education Inc

Common Stock, $.01 par value · CUSIP: 02913V103

Event date: 2025-10-29

Reporting persons may disclose overlapping interests. Their amounts are shown individually and are not added into a filing total.

Filing-level shares

Unavailable

Percent of class

Unavailable

• Divisadero Street Capital Management, LP

  Shares: 1,321,951.00 · Class: 7.3%

• William Zolezzi

  Shares: 1,321,951.00 · Class: 7.3%

• Divisadero Street Partners, L.P.

  Shares: 1,321,951.00 · Class: 7.3%

• Divisadero Street Partners GP, LLC

  Shares: 1,321,951.00 · Class: 7.3%

• Divisadero Street Capital, LLC

  Shares: 1,321,951.00 · Class: 7.3%

Amounts are as disclosed in this filing. Schedule type alone does not establish investment intent.