13D Filing: International Value Advisers and Devry Education Group Inc. (DV)

Page 6 of 9 – SEC Filing


b)

Sole power to vote or direct the vote: 0

Shared power to vote or direct the vote: 2,769,066

Sole power to dispose or direct the disposition: 0
Shared power to
dispose or direct the disposition: 2,984,568

3.

Chuck de Lardemelle

a)

Mr. de Lardemelle, as a PM and managing member of IVA,
may be deemed the beneficial owner of 2,984,568 Shares owned by the Funds
and the Managed Accounts.

Percentage: 4.8%

b)

Sole power to vote or direct the vote: 0
Shared power
to vote or direct the vote: 0
Sole power to dispose or direct the
disposition: 0

Shared power to dispose or direct the disposition:
2,984,568

(e) On April 20, 2017, the Reporting Persons ceased to be the
beneficial owners of more than five percent of the Shares of the Issuer.

As of April 25, 2017, the Reporting Persons collectively
beneficially owned an aggregate of 2,984,568 Shares, constituting 4.8% of the
Issuers outstanding Shares.

Each Reporting Person, as a member of a group with the other
Reporting Persons, may be deemed beneficial owner of the Shares directly owned
by the other Reporting Persons. Each Reporting Person disclaims beneficial
ownership of such Shares except to the extent of his or its pecuniary interest
therein.

Item 7. Material to be Filed as Exhibits

Exhibit A

Transactions in Shares that were effected by IVA since
the most recent filing of 13D/A on April 17, 2017.

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