Share-Based Compensation Plans (Tables)

9 Months Ended

Sep. 30, 2019

Share-Based Compensation

Schedule of Activity Related to Restricted Stock Granted under Company's Incentive Plan

		Weighted Average
	Total	Grant Date
	Shares	Fair Value per Share
Outstanding as of December 31, 2018	460	$	63.28
Granted	152	$	93.62
Vested	(174)	$	56.14
Forfeited, canceled or expired	(15)	$	82.43
Outstanding as of September 30, 2019	423	$	76.43

Schedule of Activity Related to Stock Options Granted under Company's Incentive Plan

	Summary of Stock Options Outstanding
		Weighted		Weighted
		Average		Average
		Exercise		Remaining	Aggregate
	Total	Price per		Contractual	Intrinsic
	Shares	Share		Term (Years)	Value ($)(1)
Outstanding as of December 31, 2018	444	$	16.66
Granted	—	$	—
Exercised	(208)	$	17.96
Forfeited, canceled or expired	—	$	—
Outstanding as of September 30, 2019	236	$	15.51	1.41	$	19,438
Exercisable as of September 30, 2019	236	$	15.51	1.41	$	19,438

(1) Aggregate intrinsic value represents the value of the Company’s closing stock price on September 30, 2019 ($98.20) in excess of the exercise price multiplied by the number of shares underlying options outstanding or exercisable, as applicable.

Schedule of Share-Based Compensation Expense

The table below outlines share-based compensation expense for the nine months ended September 30, 2019 and 2018 related to restricted stock and stock options granted:

	2019		2018
Technology and academic services	$	1,289	$	1,195
Counseling support and services		3,977		3,707
Marketing and communication		64		40
General and administrative		2,410		2,530
University related expenses		—		9,594
Share-based compensation expense included in operating expenses		7,740		17,066
Tax effect of share-based compensation		(1,935)		(4,267)
Share-based compensation expense, net of tax	$	5,805	$	12,799