<SEC-DOCUMENT>0001193125-17-013787.txt : 20170120
<SEC-HEADER>0001193125-17-013787.hdr.sgml : 20170120
<ACCEPTANCE-DATETIME>20170120091632
ACCESSION NUMBER:		0001193125-17-013787
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20170113
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170120
DATE AS OF CHANGE:		20170120

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Grand Canyon Education, Inc.
		CENTRAL INDEX KEY:			0001434588
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-EDUCATIONAL SERVICES [8200]
		IRS NUMBER:				203356009
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34211
		FILM NUMBER:		17537634

	BUSINESS ADDRESS:	
		STREET 1:		3300 W. CAMELBACK ROAD
		CITY:			PHOENIX
		STATE:			AZ
		ZIP:			85017
		BUSINESS PHONE:		602-639-7500

	MAIL ADDRESS:	
		STREET 1:		3300 W. CAMELBACK ROAD
		CITY:			PHOENIX
		STATE:			AZ
		ZIP:			85017
</SEC-HEADER>
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<TYPE>8-K
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<FILENAME>d310862d8k.htm
<DESCRIPTION>FORM 8-K
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">8-K</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT
REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant to Section&nbsp;13 or 15(d) </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported): January&nbsp;20, 2017 (January 13, 2017) </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>Grand Canyon Education, Inc. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of registrant as specified in its charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


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<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">001-34211</FONT></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">20-3356009</FONT></B></TD></TR>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or other Jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of Incorporation)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(IRS Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
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<TD VALIGN="top" COLSPAN="3" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>3300 W. Camelback Road</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Phoenix, Arizona</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>85017</B></TD></TR>
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<TD VALIGN="top" COLSPAN="3" ALIGN="center"><B>(Address of Principal Executive Offices)</B></TD>
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<TD VALIGN="top" ALIGN="center"><B>(Zip Code)</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Registrant&#146;s telephone number, including area code: (602)
<FONT STYLE="white-space:nowrap">639-7500</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former name
or former address if changed since last report.) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below
if the Form <FONT STYLE="white-space:nowrap">8-K</FONT> filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule <FONT STYLE="white-space:nowrap">14a-12</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.14a-12)</FONT> </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT STYLE="white-space:nowrap">14d-2(b)</FONT> under the Exchange Act (17 CFR
<FONT STYLE="white-space:nowrap">240.14d-2(b))</FONT> </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT STYLE="white-space:nowrap">13e-4(c)</FONT> under the Exchange Act (17 CFR
<FONT STYLE="white-space:nowrap">240.13e-4(c))</FONT> </TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
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<TD WIDTH="12%" VALIGN="top" ALIGN="left"><B>Item&nbsp;5.02.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers. </B></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Effective January&nbsp;13, 2017, Mr.&nbsp;Brent&nbsp;D. Richardson resigned from his position as a member and Chairman of the Board of
Directors of Grand Canyon Education, Inc. (the &#147;Company&#148;) in order to focus his attention on other business interests. Mr.&nbsp;Richardson&#146;s decision to resign is not due to any disagreement with the Company on any matter relating to
the Company&#146;s operations, policies or practices.</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Effective January&nbsp;13, 2017, Mr.&nbsp;Bradley&nbsp;A. Casper resigned from his
position as a member of the Board of Directors of the Company, including as Chair of the Nominating and Corporate Governance Committee and as a member of the Audit Committee. Mr.&nbsp;Casper, who became Executive Chairman of a Phoenix, <FONT
STYLE="white-space:nowrap">Arizona-based</FONT> advertising agency in 2016, resigned in order to avoid the appearance of any type of conflict of interest that could arise in the future associated with his agency&#146;s potential consideration for
advertising and related business engagements with the Company. Mr.&nbsp;Casper&#146;s decision to resign is not due to any disagreement with the Company on any matter relating to the Company&#146;s operations, policies or practices. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Nominating and Corporate Governance Committee intends promptly to launch a search for candidates to fill the two vacancies on the Board of
Directors created by the foregoing resignations. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="12%" VALIGN="top" ALIGN="left"><B>Item&nbsp;8.01.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Other Events </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">On January&nbsp;18, 2017, the Board of Directors of the Company appointed
Mr.&nbsp;Brian&nbsp;E. Mueller, the President, Chief Executive Officer and a director of the Company, to the position of Chairman of the Board of Directors. In addition, the Board of Directors of the Company made the following changes to its Board
committee assignments, effective January&nbsp;18, 2017. Following such changes in committee assignments, each of the following Board committees have three members, all of whom are independent. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="5%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top"><I>Nominating and Corporate Governance Committee</I>. Ms.&nbsp;Sara Dial, an existing member of the Nominating and Corporate Governance Committee, was appointed as Chair of the committee; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top"><I>Compensation Committee</I>. Mr.&nbsp;Kevin&nbsp;F. Warren was appointed as a member and Chair of the Compensation Committee, replacing Mr.&nbsp;David&nbsp;J. Johnson on such committee; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top"><I>Audit Committee</I>. Mr.&nbsp;Johnson was appointed as a member of the Audit Committee. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In
addition, Ms.&nbsp;Dial was appointed to serve as the Company&#146;s lead independent director, replacing Mr.&nbsp;Johnson in that role. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="12%" VALIGN="top" ALIGN="left"><B>Item&nbsp;9.01.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Consolidated Financial Statements and Exhibits. </B></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Press Release dated January&nbsp;20, 2017.</TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" COLSPAN="3">GRAND CANYON EDUCATION, INC.</TD></TR>
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<TD VALIGN="top">Date: January&nbsp;20, 2017</TD>
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<TD VALIGN="bottom">By:</TD>
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<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Daniel E. Bachus</P></TD></TR>
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<TD VALIGN="bottom"></TD>
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<TD VALIGN="bottom">Daniel E. Bachus</TD></TR>
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<TD VALIGN="bottom">Chief Financial Officer</TD></TR>
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<TD VALIGN="bottom">(Principal Financial and Principal Accounting Officer)</TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g310862g0120055803174.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Contact:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bob Romantic, Grand Canyon University | <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">602-639-7611;</FONT></FONT> <U>bob.romantic@gcu.edu</U> </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>MUELLER NAMED
CHAIRMAN OF GRAND CANYON EDUCATION BOARD OF DIRECTORS </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Dial appointed Lead Independent Director </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">PHOENIX (Jan. 20, 2017) &#150; Brian Mueller has been named chairman of the Grand Canyon Education, Inc. Board of Directors after a vote of its members, and
Sara Dial was appointed its Lead Independent Director. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The moves come after Brent Richardson, who had served as chairman, and Brad Casper, a director,
both resigned from the board to pursue other interests. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;We want to thank Brent and Brad for their many years of service to the University,&#148;
said Dial, who joined the Board of Directors in 2013. &#147;Their contributions have been significant as Grand Canyon University evolves into a driving force in higher education today.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">To fill the chairman&#146;s role, Dial said the Board of Directors wanted the most qualified person, &#147;and it was clear to everyone on the board that
person is Brian Mueller.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;Brian&#146;s vision and leadership have transformed GCU into a vibrant, comprehensive university with a solid
financial model that is having a tremendous impact on higher education in Arizona as well as our inner-city neighborhood,&#148; Dial said. &#147;By making higher education affordable, he is helping students find their purpose every day and also
driving a larger movement to create an education-minded community with well-paying jobs, safe neighborhoods, high performing schools and <FONT STYLE="white-space:nowrap">K-12</FONT> students encouraged about the prospect of going to college.&#148;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Richardson came to GCU during a difficult point in its history, when the University was $20&nbsp;million in debt and about to close its doors. He led a
group of investors who purchased the University in 2004 to ensure its survival and later hired Mueller to usher in a new era for GCU. He stepped down from the board in order to focus his attention on other education business interests. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Casper, who joined the Board of Directors in 2011, recently was named Executive Chairman of Owens Harkey Advertising agency and resigned from the Board to
avoid any type of conflict of interest that could arise in the future associated with his agency&#146;s potential consideration of advertising and related business engagements with the University. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Since becoming president and CEO in 2008, Mueller has transformed GCU into a $2.7&nbsp;billion market cap company that is one of the fastest-growing
universities in the country. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Under Mueller&#146;s leadership, enrollment on GCU&#146;s ground and online campuses has surged to more than 82,000 students
with approximately 17,500 of those students attending the physical campus in Phoenix which has tripled in size to nearly 300 acres; the number of academic programs has surpassed 200 across nine colleges, including high-growth fields such as computer
science, information technology and engineering; admission standards have been raised, with the average GPA of incoming traditional students now at 3.5; revived its fine arts programs which are now flourishing in the areas of theatre, music and
dance and the university has nearly completed its transition to NCAA Division I athletics. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mueller also has led what will be a greater than $1&nbsp;billion expansion of campus and technology
infrastructure over a <FONT STYLE="white-space:nowrap">10-year</FONT> time frame through new technologies, classrooms, laboratories, athletic facilities and student amenities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">These efforts to create the best possible education environment have been accomplished at no additional cost to students or taxpayers in Arizona. By creating
a hybrid education model that relies on operational efficiencies and fiscal responsibility on its ground and online campuses, Mueller has been able to freeze tuition on GCU&#146;s Phoenix campus for nine straight years. This helps the University
achieve one of its highest priorities &#150; to ensure a high-quality, private, Christian education is affordable to everyone, regardless of their socioeconomic status. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Another emphasis for Mueller has been his five-point plan to revitalize west Phoenix by 1) developing a STEM workforce that attracts businesses to the area,
2) creating new business enterprises and jobs for local residents, 3) providing extensive support to <FONT STYLE="white-space:nowrap">K-12</FONT> education, 4) making the surrounding neighborhood safer through a $1&nbsp;million partnership with the
Phoenix Police Department and 5) helping hundreds of homeowners in the community through a <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">first-of-its-kind</FONT></FONT></FONT> partnership with
Habitat for Humanity. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dial brings a wealth of knowledge and experience to her new role as Lead Independent Director of the Board of Directors. She is the
CEO and president of Sara Dial&nbsp;&amp; Associates, an economic development consulting firm and previously served as the Director of the Arizona Department of Commerce. She is a Director and Compensation Committee Chairman at Mobile Mini Inc. and
serves on several nonprofit boards. She was a member of the board of trustees at Seattle Pacific University, and was instrumental in the creation of a statewide economic development organization now known as the Arizona Commerce Authority. She is
one of the few females to serve as lead independent director of a public company in Arizona. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">There will be no changes to the executive leadership of
Grand Canyon University, of which Mueller is president, or the University Board of Trustees, of which Will Gonzalez will continue to serve as chairman. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Grand Canyon University: </B><U>Grand Canyon University</U> was founded in 1949 and is Arizona&#146;s premier private Christian university. GCU is
regionally accredited and offers more than 200 academic programs for both traditional undergraduate students and working professionals. The University&#146;s curriculum emphasizes interaction with classmates, both
<FONT STYLE="white-space:nowrap">in-person</FONT> and online, and individual attention from instructors while fusing academic rigor with Christian values to help students find their purpose and become skilled, caring professionals. For more
information, visit <U>gcu.edu.</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"># # # </P>
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