Share-Based Compensation

6 Months Ended

Feb. 29, 2016

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

The following details share-based compensation expense for the respective periods:



	Three Months Ended				Six Months Ended
($ in thousands)	February 29, 2016		February 28, 2015		February 29, 2016		February 28, 2015
Instructional and student advisory	$	2,640	$	2,905	$	5,424	$	5,887
Marketing	594		783		1,358		1,619
Admissions advisory	161		256		326		517
General and administrative	5,507		6,624		11,261		12,504
Restructuring and impairment charges	164		635		217		1,387
Share-based compensation expense	$	9,066	$	11,203	$	18,586	$	21,914

In accordance with our Amended and Restated 2000 Stock Incentive Plan, we granted 7,000 and 575,000 restricted stock units and performance share awards during the three and six months ended February 29, 2016, respectively. The granted awards had a weighted average grant date fair value per share of $7.33 and $7.50, respectively. As of February 29, 2016, we had $50.7 million and $2.4 million of unrecognized share-based compensation expense, net of estimated forfeitures, related to unvested restricted stock units and performance share awards, respectively. This expense is expected to be recognized over a weighted average period of 2.5 years.

In accordance with our Amended and Restated 2000 Stock Incentive Plan, we granted no stock options during the three months ended February 29, 2016 and 4,000 stock options during the six months ended February 29, 2016. The weighted average grant date fair value and the weighted average exercise price of the options granted were $4.12 and $10.35, respectively. As of February 29, 2016, we had $7.8 million of unrecognized share-based compensation expense, net of estimated forfeitures, related to unvested stock options. This expense is expected to be recognized over a weighted average period of 2.6 years.