STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Jun. 30, 2017

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

Summary of options Activity

The following is a summary of options activity for the fiscal year ended June 30, 2017:

					Weighted
			Weighted		Average		Aggregate
			Average		Remaining		Intrinsic
	Number of		Exercise		Contractual		Value
	Options		Price		Life (in Years)		(in thousands)
Outstanding at July 1, 2016		3,574,336	$	32.79
Options Granted		397,700		23.78
Options Exercised		(1,127,064)		24.95
Options Forfeited		(9,310)		30.55
Options Expired		(40,812)		32.77
Outstanding at June 30, 2017		2,794,850		34.68		5.43	$	19,915
Exercisable at June 30, 2017		1,866,327	$	39.57		3.86	$	7,283

Summary of stock appreciation rights activity

The following is a summary of stock appreciation rights activity for the fiscal year ended June 30, 2017:

					Weighted
	Number of		Weighted		Average		Aggregate
	Stock		Average		Remaining		Intrinsic
	Appreciation		Exercise		Contractual		Value
	Rights		Price		Life (in Years)		(in thousands)
Outstanding at July 1, 2016		118,065	$	42.74
Rights Granted		-		-
Rights Exercised		(18,565)		30.41
Rights Canceled		-		-
Outstanding at June 30, 2017		99,500		45.04		0.42	$	-
Exercisable at June 30, 2017		99,500	$	45.04		0.42	$	-

Fair Values of Stock Option Awards Estimated Weighted Average Assumptions

The fair value of Adtalem’s stock option grants was estimated assuming the following weighted average assumptions:

	Fiscal Year
	2017			2016			2015
Expected Life (in Years)		6.88			6.78			6.73
Expected Volatility		42.41	%		41.35	%		42.04	%
Risk-free Interest Rate		1.41	%		1.85	%		2.03	%
Dividend Yield		1.19	%		1.01	%		1.03	%
Pre-vesting Forfeiture Rate		10.00	%		3.00	%		3.00	%

Summary of Restricted Stock Units Activity

The following is a summary of RSU activity for the year ended June 30, 2017:

			Weighted
			Average
	Number of		Grant Date
	RSUs		Fair Value
Nonvested at July 1, 2016		1,139,350	$	27.78
RSUs Granted		649,420		23.92
RSUs Vested		(387,171)		26.97
RSUs Forfeited		(121,932)		27.00
Nonvested at June 30, 2017		1,279,667	$	26.14

Total Stock-Based Compensation Expense Included in Consolidated Statement of Earnings

The following table shows total stock-based compensation expense included in the Consolidated Statements of Income (Loss) (in thousands):

	Year Ended June 30,
	2017		2016		2015
Cost of Educational Services	$	5,312	$	5,617	$	5,581
Student Services and Administrative Expense		11,288		16,751		11,859
		16,600		22,368		17,440
Income Tax Benefit		(5,819)		(8,564)		(6,307)
Net Stock-Based Compensation Expense	$	10,781	$	13,804	$	11,133