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Share-Based Compensation Plans (Tables)
3 Months Ended
Mar. 31, 2019
Share-Based Compensation  
Schedule of Activity Related to Restricted Stock Granted under Company's Incentive Plan

A summary of the activity related to restricted stock granted under the Company’s Incentive Plan since December 31, 2018 is as follows:

 

 

 

 

 

 

 

    

 

    

Weighted Average

 

 

Total

 

Grant Date

 

 

Shares

 

Fair Value per Share

Outstanding as of December 31, 2018

 

460

 

$

63.28

Granted

 

149

 

$

93.07

Vested

 

(171)

 

$

55.26

Forfeited, canceled or expired

 

(11)

 

$

76.12

Outstanding as of March 31, 2019

 

427

 

$

76.57

 

Schedule of Activity Related to Stock Options Granted under Company's Incentive Plan

During the three months ended March 31, 2019, no options were granted. A summary of the activity since December 31, 2018 related to stock options granted under the Company’s Incentive Plan is as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

Summary of Stock Options Outstanding

 

    

 

    

Weighted

    

Weighted

    

 

 

 

 

 

 

Average

 

Average

 

 

 

 

 

 

 

Exercise

 

Remaining

 

Aggregate

 

 

Total

 

Price per

 

Contractual

 

Intrinsic

 

 

Shares

 

Share

 

Term (Years)

 

Value ($)(1)

Outstanding as of December 31, 2018

 

444

 

$

16.66

 

 

 

 

 

Granted

 

 —

 

$

 —

 

  

 

 

  

Exercised

 

(83)

 

$

19.64

 

  

 

 

  

Forfeited, canceled or expired

 

 —

 

$

 —

 

  

 

 

  

Outstanding as of March 31, 2019

 

361

 

$

15.97

 

1.83

 

$

35,483

Exercisable as of March 31, 2019

 

361

 

$

15.97

 

1.83

 

$

35,483


(1)

Aggregate intrinsic value represents the value of the Company’s closing stock price on March 29, 2019 ($114.51) in excess of the exercise price multiplied by the number of shares underlying options outstanding or exercisable, as applicable.

Schedule of Share-Based Compensation Expense

The table below outlines share-based compensation expense for the three months ended March 31, 2019 and 2018 related to restricted stock and stock options granted:

 

 

 

 

 

 

 

 

    

2019

    

2018

Technology and academic services

 

$

434

 

$

417

Counseling support and services

 

 

1,334

 

 

1,291

Marketing and communication

 

 

19

 

 

12

General and administrative

 

 

849

 

 

889

University related expenses

 

 

 —

 

 

860

Share-based compensation expense included in operating expenses

 

 

2,636

 

 

3,469

Tax effect of share-based compensation

 

 

(659)

 

 

(867)

Share-based compensation expense, net of tax

 

$

1,977

 

$

2,602