Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2016

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 three months ended March 31, 2016 (unaudited):

	Number of Shares		Weighted-Average Grant Price and Fair Value
Non-vested, December 31, 2015	293,419		$	35.86
Shares granted	315,231		$	15.64
Vested shares	(104,082	)	$	37.59
Shares forfeited	—		$	—
Non-vested, March 31, 2016	504,568		$	22.87

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, 2015	329,872		$	33.65
Options granted	—		$	—
Awards exercised	—		$	—
Awards forfeited	(48,157	)	$	37.19
Outstanding, March 31, 2016	281,715		$	33.04	1.27	$	421
Exercisable, March 31, 2016	281,715		$	33.04	1.27	$	421

Summary of stock-based compensation cost charged against income

Stock-based compensation expense charged against income during the three month periods ended March 31, 2016 and 2015 is as follows (unaudited): 

	Three Months Ended March 31,
	2016			2015
	(In thousands)
Instructional costs and services	$	430		$	384
Selling and promotional	184			165
General and administrative	888			845
Stock-based compensation expense in operating income	1,502			1,394
Tax benefit	(595		)	(574		)
Stock-based compensation expense, net of tax	$	907		$	820