Share-Based Compensation

9 Months Ended

May 31, 2013

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

Stock and Savings Plans

Share-Based Compensation

The following details share-based compensation expense for the three and nine months ended May 31, 2013 and 2012:

	Three Months Ended May 31,				Nine Months Ended May 31,
($ in thousands)	2013		2012		2013		2012
Instructional and student advisory	$	4,653	$	6,518	$	17,855	$	20,641
Marketing	1,038		1,533		4,135		5,473
Admissions advisory	200		405		566		1,277
General and administrative	6,090		10,490		15,512		32,047
Restructuring and other charges	392		—		1,820		—
Share-based compensation expense	$	12,373	$	18,946	$	39,888	$	59,438

In accordance with our Apollo Group, Inc. Amended and Restated 2000 Stock Incentive Plan, we granted 600,000 and 629,000 stock options during the three and nine months ended May 31, 2013, respectively. For the three and nine months ended May 31, 2013, the weighted average grant date fair value was $4.82 and $4.95, respectively, and the weighted average exercise price of these options was $16.75 and $16.89, respectively. As of May 31, 2013, there was $8.7 million of total unrecognized share-based compensation cost, net of forfeitures, related to unvested stock options. These costs are expected to be recognized over a weighted average period of 1.5 years.

In accordance with our Apollo Group, Inc. Amended and Restated 2000 Stock Incentive Plan, we granted 14,000 and 133,000 restricted stock units and performance share awards during the three and nine months ended May 31, 2013, respectively, with a weighted average grant date fair value of $17.70 and $20.70, respectively. As of May 31, 2013, there was $52.3 million and $2.7 million of total unrecognized share-based compensation cost, net of forfeitures, related to unvested restricted stock units and performance share awards, respectively. These costs are expected to be recognized over a weighted average period of 2.0 years.