Companies Grand Canyon Education
Grand Canyon Education (LOPE): executive pay, fiscal 2025
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CEO pay, last three years
- $2,016,887FY2023
- $2,006,779FY2024
- $2,020,867FY2025
CEO total pay was $2,020,867 in fiscal 2025, up from $2,006,779 in fiscal 2024.
FY2025: salary $321,000 · bonus $0 · stock awards $1,211,668 · option awards $0
Executives and directors
Frequently asked questions
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Brian Mueller | $321,000 | $0 | $1,211,668 | $0 | $481,500 | $0 | $6,699 | $2,020,867 |
| Chief Executive Officer and Chairman | ||||||||
| W. Stan Meyer | 390,000 | 0 | 646,603 | 0 | 438,750 | 0 | 6,893 | 1,482,246 |
| Chief Operating Officer | ||||||||
| Daniel Bachus | 390,000 | 0 | 646,603 | 0 | 438,750 | 0 | 1,754 | 1,477,107 |
| Chief Financial Officer | ||||||||
| Dilek Marsh | 332,505 | 0 | 450,014 | 0 | 165,000 | 0 | 4,989 | 952,508 |
| Chief Information Officer | ||||||||
| Kathy Claypatch | 292,456 | 0 | 252,215 | 0 | 45,430 | 0 | 85,861 | 675,962 |
| Former Chief Information Officer | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
Three-year trend — total compensation per named executive
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Brian Mueller | $2,020,867 | $2,006,779 | $2,016,887 | ↑ +14,088 |
| W. Stan Meyer | 1,482,246 | 1,469,335 | 1,481,981 | ↑ +12,911 |
| Daniel Bachus | 1,477,107 | 1,463,440 | 1,476,266 | ↑ +13,667 |
| Dilek Marsh | 952,508 | 937,845 | 932,878 | ↑ +14,663 |
| Kathy Claypatch | 675,962 | 666,183 | 657,912 | ↑ +9,779 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Incentive-plan design — the Compensation Discussion & Analysis
We believe our executive pay is reasonable and provides appropriate incentives to our executives to achieve our financial and strategic goals without encouraging them to take excessive risks in their business decisions.
| CEO STI target (% of salary) | 100% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Mercer |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2025
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Dilek Marsh | RSU | 2025-01-29 | — | — | 2,605 | — | $450,014 |
| Daniel Bachus | RSU | 2025-01-29 | — | — | 3,743 | — | 646,603 |
| Brian Mueller | RSU | 2025-01-29 | — | — | 7,014 | — | 1,211,668 |
| W. Stan Meyer | RSU | 2025-01-29 | — | — | 3,743 | — | 646,603 |
| Kathy Claypatch | RSU | 2025-01-29 | — | — | 1,460 | — | 252,215 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Dilek Marsh | $450,014 | $0 | $0 | 0.0% |
| Daniel Bachus | 646,603 | 0 | 0 | 0.0% |
| Brian Mueller | 1,211,668 | 0 | 0 | 0.0% |
| W. Stan Meyer | 646,603 | 0 | 0 | 0.0% |
| Kathy Claypatch | 252,215 | 0 | 0 | 0.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
Outstanding equity awards at fiscal year-end 2025
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Kathy Claypatch | RSU | 2,432 | — | $437,322 |
| Dilek Marsh | RSU | 4,183 | — | 752,187 |
| Brian Mueller | RSU | 6,735 | — | 1,211,088 |
| Daniel Bachus | RSU | 6,735 | — | 1,211,088 |
| Dilek Marsh | RSU | 10,900 | — | 1,812,779 |
| Brian Mueller | RSU | 12,622 | — | 2,269,688 |
| W. Stan Meyer | RSU | 15,760 | — | 2,621,046 |
| Daniel Bachus | RSU | 15,760 | — | 2,621,046 |
| Brian Mueller | RSU | 29,535 | — | 4,911,966 |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Sara WardIndependent · Lead Independent Director | $98,333 | $75,000 | — | — | — | $173,333 |
| Jack A. HenryIndependent | 80,000 | 75,000 | — | — | — | 155,000 |
| Lisa Graham KeeganIndependent · NCG (Chair) | 75,000 | 75,000 | — | — | — | 150,000 |
| Chevy HumphreyIndependent | 75,000 | 75,000 | — | — | — | 150,000 |
| Kevin F. WarrenIndependent | 65,000 | 75,000 | — | — | — | 140,000 |
| Brian E. MuellerEmployee director · Board Chair | — | — | — | — | — | 0 |
Board fee structure and ownership guideline
| Annual cash retainer | $50,000 |
|---|---|
| Annual equity retainer | $75,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 15,000 / 10,000 / 10,000 |
| Stock ownership guideline | chievement level of share ownership will be determined by reference to the average closing stock price of the shares during the fiscal year ended immediately prior to the determination date. |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $393,333 |
| Equity awards (grant-date value) | $375,000 |
| All other compensation | $0 |
| Total cost of the board | $768,333 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Grand Canyon Education as a peer
Companies that benchmark against LOPE
9 companies name LOPE as a compensation peer
- AMERICAN PUBLIC EDUCATION INCAPEIFY2025
- Barnes & Noble Education, Inc.BNEDFY2024
- Covista Inc.CVSAFY2026
- Graham Holdings CoGHCFY2025
- LAUREATE EDUCATION, INC.LAURFY2024
- LINCOLN EDUCATIONAL SERVICES CORPLINCFY2025
- PERDOCEO EDUCATION CorpPRDOFY2025
- Strategic Education, Inc.STRAFY2025
- UNIVERSAL TECHNICAL INSTITUTE INCUTIFY2025
Each company listed discloses LOPE in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named LOPE in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
Disclosed peer group — fiscal year 2025
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Peer reciprocity
Of the companies Grand Canyon Education names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.
Reciprocity shown where the peer’s own current proxy has been read — each mark is cited in the register to that peer’s filing. A dash means the peer’s current proxy was read and names no reciprocal group including Grand Canyon Education.
Chief executive pay against the peer group
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Coursera Inc. | 2025 | Gregory Hart | $540,833 | $14,629,466 | $23,644,105 | $570,467 | $39,387,371 |
| 2 | Laureate Education, Inc. | 2025 | Eilif Serck-Hanssen | 1,000,000 | 8,343,934 | 0 | 1,606,800 | 10,975,343 |
| 3 | Strategic Education, Inc. | 2025 | Karl McDonnell | 1,018,009 | 3,250,000 | 0 | 1,393,558 | 5,672,067 |
| 4 | Chegg, Inc. | 2025 | Dan Rosensweig | 850,000 | 4,070,000 | 0 | 0 | 4,934,000 |
| 5 | Grand Canyon Education | 2025 | Brian Mueller | 321,000 | 1,211,668 | 0 | 481,500 | 2,020,867 |
| — | Pearson Plc | — | — | — | — | — | — | not in coverage universe |
| — | Adtalem Global Education, Inc | — | — | — | — | — | — | not in coverage universe |
Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Incentive design against the same peers
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Grand Canyon Education | 150% | RSU 100 | not disclosed | Mercer |
| Adtalem Global Education, Inc | not disclosed | not disclosed | not disclosed | not disclosed |
| Chegg, Inc. | not disclosed | PSU 70 · RSU 30 | No | Aon |
| Coursera Inc. | 106.3% | RSU 75 · PSU 25 | No | Compensia |
| Laureate Education, Inc. | not disclosed | not disclosed | not disclosed | Meridian Compensation Partners, LLC |
| Pearson Plc | not disclosed | not disclosed | not disclosed | not disclosed |
| Strategic Education, Inc. | 108.8% | RSU 100 | not disclosed | Equilar, Inc. |
Read from each company’s Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company’s filing does not state the item.
Say-on-pay history and pay ratio
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-06-10 | 22,695,415 | 638,918 | 18,061 | 97.19% | Passed |
| 2025 | 2025-06-10 | 23,291,624 | 1,563,362 | 56,722 | 93.5% | Passed |
| 2024 | 2024-06-12 | 25,325,005 | 1,066,884 | 53,034 | 95.77% | Passed |
| 2023 | 2023-06-20 | 26,613,475 | 994,646 | 12,683 | 96.35% | Passed |
| 2022 | 2022-06-09 | 28,799,547 | 1,450,793 | 19,249 | 95.14% | Passed |
| 2021 | 2021-06-16 | 39,438,155 | 3,274,984 | 161,774 | 91.98% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year’s compensation.
Say-on-pay — history, company’s computation
| Meeting year | Meeting date | Approval — company’s computation |
|---|---|---|
| 2026 | 2026-06-10 | 97.19%a |
| 2025 | 2025-06-10 | 93.5%b |
| 2024 | 2024-06-12 | 95.77%c |
a. Approved under the standard stated in the filing — “e no effect on the outcome of this proposal, while abstentions will have the effect of a vote against this proposal.”.
b. Approved under the standard stated in the filing — “Broker non-votes will have no effect on the outcome of this proposal, while abstentions will have the effect of a vote against this proposal.”.
c. Approved under the standard stated in the filing — “Broker non-votes will have no effect on the outcome of this proposal, while abstentions will have the effect of a vote against this proposal.”.
Approval percentages are the company’s own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
CEO pay ratio
| Ratio (CEO : median employee) | 32.5 : 1 |
|---|---|
| CEO total compensation | $2,020,867 |
| Median employee compensation | $62,115 |
Insider trades since the proxy
Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.
| Insider | Role | Transaction date | Code | Shares | Price | Value | Security | Source |
|---|---|---|---|---|---|---|---|---|
| Daniel Bachus | Chief Financial Officer | 2026-05-05 | D | 770 | $0 | $0 | Common | Form 4 ↗ |
| W. Stan Meyer | Chief Operating Officer | 2026-05-05 | D | 500 | 0 | 0 | Common | Form 4 ↗ |
| Brian E. Mueller | Director | 2026-05-05 | D | 300 | 0 | 0 | Common | Form 4 ↗ |
| Lisa Graham Keegan | Director | 2026-06-10 | A | 498 | 0 | 0 | Common | Form 4 ↗ |
| Kevin F. Warren | Director | 2026-06-10 | A | 498 | 0 | 0 | Common | Form 4 ↗ |
| Jack A. Henry | Director | 2026-06-10 | A | 498 | 0 | 0 | Common | Form 4 ↗ |
| Chevy Humphrey | Director | 2026-06-10 | A | 498 | 0 | 0 | Common | Form 4 ↗ |
| Sara Ward | Director | 2026-06-10 | A | 498 | 0 | 0 | Common | Form 4 ↗ |
Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.
Sources (40 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, Brian Mueller. DEF 14A, filed 2026-04-23. Section “Executive Compensation”. As printed: 2,020,867. View filing ↗
- Section 01, W. Stan Meyer. DEF 14A, filed 2026-04-23. Section “Executive Compensation”. As printed: 1,482,246. View filing ↗
- Section 01, Daniel Bachus. DEF 14A, filed 2026-04-23. Section “Executive Compensation”. As printed: 1,477,107. View filing ↗
- Section 01, Dilek Marsh. DEF 14A, filed 2026-04-23. Section “Executive Compensation”. As printed: 952,508. View filing ↗
- Section 01, Kathy Claypatch. DEF 14A, filed 2026-04-23. Section “Executive Compensation”. As printed: 675,962. View filing ↗
- Section 03, Dilek Marsh RSU. DEF 14A, filed 2026-04-23. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Daniel Bachus RSU. DEF 14A, filed 2026-04-23. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Brian Mueller RSU. DEF 14A, filed 2026-04-23. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, W. Stan Meyer RSU. DEF 14A, filed 2026-04-23. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Kathy Claypatch RSU. DEF 14A, filed 2026-04-23. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 07, pay ratio. DEF 14A, filed 2026-04-23. Section “CEO Pay Ratio”. As printed: 32.5 : 1. View filing ↗
- Section 08, Sara Ward. DEF 14A, filed 2026-04-23. Section “Director Compensation”. As printed: 173,333. View filing ↗
- Section 08, Jack A. Henry. DEF 14A, filed 2026-04-23. Section “Director Compensation”. As printed: 155,000. View filing ↗
- Section 08, Lisa Graham Keegan. DEF 14A, filed 2026-04-23. Section “Director Compensation”. As printed: 150,000. View filing ↗
- Section 08, Chevy Humphrey. DEF 14A, filed 2026-04-23. Section “Director Compensation”. As printed: 150,000. View filing ↗
- Section 08, Kevin F. Warren. DEF 14A, filed 2026-04-23. Section “Director Compensation”. As printed: 140,000. View filing ↗
- Section 08, Brian E. Mueller. DEF 14A, filed 2026-04-23. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 02, Daniel Bachus 2026-05-05. Form 4, filed 2026-05-07. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, W. Stan Meyer 2026-05-05. Form 4, filed 2026-05-07. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Brian E. Mueller 2026-05-05. Form 4, filed 2026-05-07. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Lisa Graham Keegan 2026-06-10. Form 4, filed 2026-06-11. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Kevin F. Warren 2026-06-10. Form 4, filed 2026-06-11. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Jack A. Henry 2026-06-10. Form 4, filed 2026-06-11. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Chevy Humphrey 2026-06-10. Form 4, filed 2026-06-11. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Sara Ward 2026-06-10. Form 4, filed 2026-06-11. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 06, 2026 vote. Form 8-K, filed 2026-06-10. Item 5.07 · say-on-pay result. As reported: 97.19% (votes for as printed: 22,695,415). View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-06-12. Item 5.07 · say-on-pay result. As reported: 93.5% (votes for as printed: 23,291,624). View filing ↗
- Section 06, 2024 vote. Form 8-K, filed 2024-06-14. Item 5.07 · say-on-pay result. As reported: 95.77% (votes for as printed: 25,325,005). View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
- Section 09b board cost (computed). Computed. Cash 393,333 + equity 375,000 + all other 0 = 768,333, summed across the director compensation table rows.
- Coursera Inc., Section 10b CEO total. DEF 14A, filed 2026-05-11. CEO total compensation as printed in Coursera Inc.'s own proxy. As printed: 39,387,371. View filing ↗
- Laureate Education, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-09. CEO total compensation as printed in Laureate Education, Inc.'s own proxy. As printed: 10,975,343. View filing ↗
- Strategic Education, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-11. CEO total compensation as printed in Strategic Education, Inc.'s own proxy. As printed: 5,672,067. View filing ↗
- Chegg, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-28. CEO total compensation as printed in Chegg, Inc.'s own proxy. As printed: 4,934,000. View filing ↗
- Grand Canyon Education (subject), Section 10b CEO total. DEF 14A, filed 2026-04-23. CEO total compensation as printed in Grand Canyon Education's own proxy. As printed: 2,020,867. View filing ↗
- Section 10a, Strategic Education, Inc. reciprocity. DEF 14A. Strategic Education, Inc. names Grand Canyon Education in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Laureate Education, Inc. reciprocity. DEF 14A. Laureate Education, Inc. names Grand Canyon Education in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Chegg, Inc. reciprocity. DEF 14A. Chegg, Inc.'s most recent proxy was read; its disclosed peer group does not include Grand Canyon Education. View filing ↗
- Section 10a, Coursera Inc. reciprocity. DEF 14A. Coursera Inc.'s most recent proxy was read; its disclosed peer group does not include Grand Canyon Education. View filing ↗