Share-Based Compensation

9 Months Ended

May 31, 2016

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

Share-Based Compensation

Share-Based Compensation

The following details share-based compensation expense for the respective periods:

	Three Months Ended May 31,				Nine Months Ended May 31,
($ in thousands)	2016		2015		2016		2015
Instructional and student advisory	$	2,432	$	2,812	$	7,856	$	8,699
Marketing	413		705		1,771		2,324
Admissions advisory	15		262		341		779
General and administrative	5,569		3,456		16,830		15,960
Restructuring and impairment charges	303		619		520		2,006
Share-based compensation expense	$	8,732	$	7,854	$	27,318	$	29,768

In accordance with our Amended and Restated 2000 Stock Incentive Plan, we granted no restricted stock units or performance share awards during the three months ended May 31, 2016 and 575,000 restricted stock units and performance share awards during the nine months ended May 31, 2016. The granted awards had a weighted average grant date fair value per share of $7.50. As of May 31, 2016, we had $39.5 million and $1.8 million of unrecognized share-based compensation expense, net of estimated forfeitures, related to unvested restricted stock units and performance share awards, respectively. This expense is expected to be recognized over a weighted average period of 2.2 years.

In accordance with our Amended and Restated 2000 Stock Incentive Plan, we granted no stock options during the three months ended May 31, 2016 and 4,000 stock options during the nine months ended May 31, 2016. The weighted average grant date fair value and the weighted average exercise price of the options granted were $4.12 and $10.35, respectively. As of May 31, 2016, we had $6.8 million of unrecognized share-based compensation expense, net of estimated forfeitures, related to unvested stock options. This expense is expected to be recognized over a weighted average period of 2.3 years.