Share-Based Compensation

6 Months Ended

Feb. 28, 2014

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 respective periods:

	Three Months Ended February 28,				Six Months Ended February 28,
($ in thousands)	2014		2013		2014		2013
Instructional and student advisory	$	3,280	$	5,614	$	6,813	$	13,202
Marketing	937		1,054		2,045		3,097
Admissions advisory	212		196		314		366
General and administrative	5,644		3,399		11,012		9,422
Restructuring and other charges	464		363		2,326		1,428
Share-based compensation expense	$	10,537	$	10,626	$	22,510	$	27,515

In accordance with our Apollo Education Group, Inc. Amended and Restated 2000 Stock Incentive Plan, we granted 104,000 and 169,000 restricted stock units and performance share awards during the three and six months ended February 28, 2014, respectively. The granted awards had a weighted average grant date fair value of $25.79 and $26.12, respectively. As of February 28, 2014, there was $57.8 million and $2.2 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 2.4 years.

In accordance with our Apollo Education Group, Inc. Amended and Restated 2000 Stock Incentive Plan, we granted 31,000 stock options during the three months ended February 28, 2014 and no stock options during the three months ended November 30, 2013. The weighted average grant date fair value of the options granted was $9.98 and the weighted average exercise price was $25.79. As of February 28, 2014, there was $6.5 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 1.8 years.