Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of restricted stock and restricted stock unit awards

The table below summarizes the restricted stock and restricted stock unit awards activity for the nine months ended September 30, 2017 (unaudited):

	Number of Shares		Weighted-Average Grant Price and Fair Value
Non-vested, December 31, 2016	437,971		$	21.54
Shares granted	278,934		$	23.36
Vested shares	(184,670	)	$	25.88
Shares forfeited	(31,450	)	$	21.07
Non-vested, September 30, 2017	500,785		$	21.24

Summary of option activity

Option activity is summarized as follows (unaudited):

	Number of Options		Weighted Average Exercise Price		Weighted-Average Contractual Life (Years)	Aggregate Intrinsic Value (In thousands)
Outstanding, December 31, 2016	259,969		$	34.68	0.53	246
Options granted	—		$	—
Awards exercised	(14,002	)	$	6.99
Awards forfeited	(132,351	)	$	35.17
Outstanding, September 30, 2017	113,616		$	37.52	0.26	$	—
Exercisable, September 30, 2017	113,616		$	37.52	0.26	$	—

Summary of stock-based compensation cost charged against income

Stock-based compensation expense charged against income during the three and nine months ended September 30, 2017 and 2016 is as follows (unaudited): 

	Three Months Ended September 30,						Nine Months Ended September 30,
	2017			2016			2017			2016
	(In thousands)
Instructional costs and services	$	229		$	274		$	958		$	1,077
Selling and promotional	200			168			559			524
General and administrative	1,137			813			2,745			2,371
Stock-based compensation expense in operating income	1,566			1,255			4,262			3,972
Tax benefit	(620		)	(504		)	(1,688		)	(1,566		)
Stock-based compensation expense, net of tax	$	946		$	751		$	2,574		$	2,406