XML 108 R43.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Equity Awards (Tables)
 12 Months Ended
Dec. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Restricted Stock And Restricted Stock Units Activity
Restricted Stock and Restricted Stock Units
The table below sets forth the restricted stock and restricted stock units activity for each of the three years in the period ended December 31, 2019:
 
Number of
shares or units
 
Weighted-
average
grant price
Balance, December 31, 2016
727,100

 
$
97.53

Grants
75,140

 
82.18

Vested shares
(84,908
)
 
66.60

Forfeitures
(1,204
)
 
62.28

Balance, December 31, 2017
716,128

 
99.65

Grants
159,005

 
93.30

Awards assumed through acquisition of CEC
136,324

 
118.29

Vested shares
(236,164
)
 
76.78

Forfeitures
(37,343
)
 
83.69

Balance, December 31, 2018
737,950

 
114.43

Grants
158,748

 
128.87

Vested shares
(393,588
)
 
141.75

Forfeitures
(34,160
)
 
79.02

Balance, December 31, 2019
468,950

 
$
98.98
Schedule of Stock Option Activity and Other Stock Option Information
Stock Options
The table below sets forth the stock option activity and other stock option information for each of the three years in the period ended December 31, 2019:
 
Number of
shares
 
Weighted-
average
exercise price
 
Weighted-
average
remaining
contractual
life (years)
 
Aggregate
intrinsic value(1)
(in thousands)
Balance, December 31, 2016
100,000

 
$
51.95

 
4.1
 
$
2,868

Grants
—

 
—

 
 
 
 
Exercises
—

 
—

 
 
 
 
Forfeitures
—

 
—

 
 
 
 
Balance, December 31, 2017
100,000

 
51.95

 
3.1
 
3,763

Grants
—

 
—

 
 
 
 
Awards assumed through acquisition of CEC
319,846

 
66.98

 
 
 
 
Exercises
(162,831
)
 
58.11

 
 
 
 
Forfeitures
(769
)
 
51.96

 
 
 
 
Balance, December 31, 2018
256,246

 
66.80

 
7.0
 
11,947

Grants
—

 
—

 
 
 
 
Exercises
(208,114
)
 
67.61

 
 
 
 
Forfeitures/Expirations
(2,036
)
 
58.38

 
 
 
 
Balance, December 31, 2019
46,096

 
$
63.49

 
5.2
 
$
4,398

Exercisable, December 31, 2019
24,246

 
$
60.27

 
4.0
 
$
2,391

__________________________________________________________________________
(1)
The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between the Company’s closing stock price on the respective trading day and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holder had all options been exercised on the respective trading day. The amount of intrinsic value will change based on the fair market value of the Company’s common stock.
Schedule of Stock-based Compensation Expense
The following table reflects the amount of stock-based compensation expense recorded in each of the expense line items for the years ended December 31, 2017, 2018, and 2019 (in thousands):
 
2017
 
2018
 
2019
Instructional and support costs
$
1,943

 
$
2,588

 
$
3,823

General and administration
9,684

 
10,702

 
7,970

Merger and integration costs
—

 
2,242

 
367

Stock-based compensation expense included in operating expense
11,627

 
15,532

 
12,160

Tax benefit
4,593

 
3,922

 
3,126

Stock-based compensation expense, net of tax
$
7,034

 
$
11,610

 
$
9,034