Share-Based Compensation

9 Months Ended

May 31, 2012

Notes to Condensed Consolidated Financial Statements [Abstract]

Share-Based Compensation

Share-Based Compensation

The table below details share-based compensation expense for the three and nine months ended May 31, 2012 and 2011:

	Three Months Ended May 31,				Nine Months Ended May 31,
($ in thousands)	2012		2011		2012		2011
Instructional and student advisory	$	6,518	$	7,598	$	20,641	$	19,319
Marketing	1,533		1,347		5,473		4,056
Admissions advisory	405		585		1,277		1,742
General and administrative	10,490		10,433		32,047		25,336
Share-based compensation expense	$	18,946	$	19,963	$	59,438	$	50,453

In accordance with our Apollo Group, Inc. Amended and Restated 2000 Stock Incentive Plan, we granted approximately 3,000 and 12,000 stock options during the three and nine months ended May 31, 2012, respectively. The weighted average grant date fair value was $14.20 and $16.64 for the three and nine months ended May 31, 2012, respectively, and the weighted average exercise price of these options was $42.41 and $45.74 for the three and nine months ended May 31, 2012, respectively. As of May 31, 2012, there was approximately $17.9 million of total unrecognized share-based compensation cost, net of forfeitures, related to unvested stock options and stock appreciation rights. These costs are expected to be recognized over a weighted average period of 1.45 years.

In accordance with our Apollo Group, Inc. Amended and Restated 2000 Stock Incentive Plan, we granted approximately 161,000 and 247,000 restricted stock units and performance share awards during the three and nine months ended May 31, 2012, respectively, that had a weighted average grant date fair value of $38.71 and $40.86, respectively. As of May 31, 2012, there was approximately $80.0 million of total unrecognized share-based compensation expense, net of forfeitures, related to unvested restricted stock units and performance share awards. These costs are expected to be recognized over a weighted average period of 1.87 years.

During the third quarter of fiscal year 2012, we increased the number of Class A shares reserved for issuance under our Amended and Restated 2000 Stock Incentive Plan by 3.5 million shares.