Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-06-11

Grand Canyon Education (LOPE)

CEO Brian Mueller was paid $2,020,867 in fiscal year 2025, ↑ up 0.7% from fiscal year 2024 (SEC filing 0001104659-26-047719 ↗): executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$2,020,867 ↑
Brian Mueller total, FY2025
—
CEO pay percentile vs peers
32.5:1
CEO-to-median pay ratio
97.19%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- Brian Mueller (Chief Executive Officer and Chairman), FY2025 total compensation $2,020,867 (base salary $321,000) [exec_comp, SEC accession 0001104659-26-047719, filed 2026-04-23]

Answered within 24 hours, every figure cited to its SEC filing. If our database cannot answer your question, you are refunded automatically.

LOPE's next annual pay disclosure, estimated April 22, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Brian Mueller$321,000$0$1,211,668$0$481,500$0$6,699$2,020,867
Chief Executive Officer and Chairman
W. Stan Meyer390,0000646,6030438,75006,8931,482,246
Chief Operating Officer
Daniel Bachus390,0000646,6030438,75001,7541,477,107
Chief Financial Officer
Dilek Marsh332,5050450,0140165,00004,989952,508
Chief Information Officer
Kathy Claypatch292,4560252,215045,430085,861675,962
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 officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Brian Mueller$2,020,867$2,006,779$2,016,887↑ +14,088
W. Stan Meyer1,482,2461,469,3351,481,981↑ +12,911
Daniel Bachus1,477,1071,463,4401,476,266↑ +13,667
Dilek Marsh952,508937,845932,878↑ +14,663
Kathy Claypatch675,962666,183657,912↑ +9,779

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

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Companies that benchmark against LOPE
9 companies name LOPE as a compensation peer

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.

01b

Executives — the named officers

One page per officer: the same table above, read for one person at a time — his own figure and every fiscal year the register holds.

ExecutiveRoleFY2025 total
Brian MuellerCEO$2,020,867
Dilek MarshChief Information Officer$952,508
Kathy ClaypatchChief Information Officer$675,962
W. Stan MeyerCOO$1,482,246
Daniel BachusCFO$1,477,107
01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
Chevy HumphreyIndependent Director$150,000
Jack A. HenryIndependent Director$155,000
Kevin F. WarrenIndependent Director$140,000
Lisa Graham KeeganIndependent Director$150,000
Sara WardLead Independent Director$173,333
02

Equity transactions since the proxy statement was filed

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.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Daniel BachusCHIEF FINANCIAL OFFICER2026-05-05D770$0$0CommonForm 4 ↗
W. Stan MeyerCHIEF OPERATING OFFICER2026-05-05D50000CommonForm 4 ↗
Brian E. MuellerDirector2026-05-05D30000CommonForm 4 ↗
Lisa Graham KeeganDirector2026-06-10A49800CommonForm 4 ↗
Kevin F. WarrenDirector2026-06-10A49800CommonForm 4 ↗
Jack A. HenryDirector2026-06-10A49800CommonForm 4 ↗
Chevy HumphreyDirector2026-06-10A49800CommonForm 4 ↗
Sara WardDirector2026-06-10A49800CommonForm 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.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Dilek MarshRSU2025-01-29——2,605—$450,014
Daniel BachusRSU2025-01-29——3,743—646,603
Brian MuellerRSU2025-01-29——7,014—1,211,668
W. Stan MeyerRSU2025-01-29——3,743—646,603
Kathy ClaypatchRSU2025-01-29——1,460—252,215
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Dilek Marsh$450,014$0$00.0%
Daniel Bachus646,603000.0%
Brian Mueller1,211,668000.0%
W. Stan Meyer646,603000.0%
Kathy Claypatch252,215000.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Brian MuellerRSU6,735—$1,211,088
Brian MuellerRSU29,535—4,911,966
Dilek MarshRSU10,900—1,812,779
Daniel BachusRSU6,735—1,211,088
Dilek MarshRSU4,183—752,187
Kathy ClaypatchRSU2,432—437,322
Brian MuellerRSU12,622—2,269,688
Daniel BachusRSU15,760—2,621,046
Brian MuellerRSU15,760—2,621,046
05

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 consultantMercer
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-1022,695,415638,91818,06197.19%Passed
20252025-06-1023,291,6241,563,36256,72293.5%Passed
20242024-06-1225,325,0051,066,88453,03495.77%Passed
20232023-06-2026,613,475994,64612,68396.35%Passed
20222022-06-0928,799,5471,450,79319,24995.14%Passed
20212021-06-1639,438,1553,274,984161,77491.98%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 yearMeeting dateApproval — company's computation
20262026-06-1097.19%a
20252025-06-1093.5%b
20242024-06-1295.77%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.

07

CEO pay ratio

Ratio (CEO : median employee)32.5 : 1
CEO total compensation$2,020,867
Median employee compensation$62,115
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Sara WardIndependent · Lead Independent Director$98,333$75,000———$173,333
Jack A. HenryIndependent80,00075,000———155,000
Lisa Graham KeeganIndependent · NCG (Chair)75,00075,000———150,000
Chevy HumphreyIndependent75,00075,000———150,000
Kevin F. WarrenIndependent65,00075,000———140,000
Brian E. MuellerEmployee director · Board Chair—————0
09

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 guidelinechievement 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.
09b

Total cost of the board

ComponentFY2025
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.

10b

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.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Grand Canyon Education2025Brian Mueller$321,000$1,211,668$0$481,500$2,020,867

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.

10d

Frequently asked questions

Who was the highest-paid executive at Grand Canyon Education in fiscal 2025?
As disclosed, Brian Mueller (Chief Executive Officer and Chairman) was the highest-paid executive at Grand Canyon Education in fiscal 2025, with total compensation of $2,020,867.
What is Grand Canyon Education's CEO-to-median employee pay ratio?
As disclosed, Grand Canyon Education's CEO-to-median employee pay ratio was 32.5:1.
How did shareholders vote on Grand Canyon Education's executive compensation?
As disclosed, 97.19% of shareholders supported Grand Canyon Education's executive compensation in the latest say-on-pay vote.
How much does Grand Canyon Education spend in total on board compensation for fiscal 2025?
As disclosed, Grand Canyon Education reported total board compensation of $768,333 for fiscal 2025.

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.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Brian MuellerDEF 14A2026-04-230001104659-26-047719Section “Executive Compensation”. As printed: 2,020,867. Filing ↗machine: span 873029–873038
2Section 01, W. Stan MeyerDEF 14A2026-04-230001104659-26-047719Section “Executive Compensation”. As printed: 1,482,246. Filing ↗machine: span 888556–888565
3Section 01, Daniel BachusDEF 14A2026-04-230001104659-26-047719Section “Executive Compensation”. As printed: 1,477,107. Filing ↗machine: span 903764–903773
4Section 01, Dilek MarshDEF 14A2026-04-230001104659-26-047719Section “Executive Compensation”. As printed: 952,508. Filing ↗machine: span 919320–919327
5Section 01, Kathy ClaypatchDEF 14A2026-04-230001104659-26-047719Section “Executive Compensation”. As printed: 675,962. Filing ↗machine: span 934623–934630
6Section 03, Dilek Marsh RSUDEF 14A2026-04-230001104659-26-047719Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t160 · r13 · c16 · span 1004402–1004409
7Section 03, Daniel Bachus RSUDEF 14A2026-04-230001104659-26-047719Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t154 · r11 · c8 · span 901855–901862
8Section 03, Brian Mueller RSUDEF 14A2026-04-230001104659-26-047719Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t160 · r4 · c16 · span 969742–969751
9Section 03, W. Stan Meyer RSUDEF 14A2026-04-230001104659-26-047719Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t160 · r7 · c16 · span 981407–981414
10Section 03, Kathy Claypatch RSUDEF 14A2026-04-230001104659-26-047719Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t160 · r16 · c16 · span 1015881–1015888
11Section 07, pay ratioDEF 14A2026-04-230001104659-26-047719Section “CEO Pay Ratio”. As printed: 32.5 : 1. Filing ↗
12Section 08, Sara WardDEF 14A2026-04-230001104659-26-047719Section “Director Compensation”. As printed: 173,333. Filing ↗machine: span 440112–440230
13Section 08, Jack A. HenryDEF 14A2026-04-230001104659-26-047719Section “Director Compensation”. As printed: 155,000. Filing ↗machine: span 442350–442468
14Section 08, Lisa Graham KeeganDEF 14A2026-04-230001104659-26-047719Section “Director Compensation”. As printed: 150,000. Filing ↗machine: span 444764–444882
15Section 08, Chevy HumphreyDEF 14A2026-04-230001104659-26-047719Section “Director Compensation”. As printed: 150,000. Filing ↗machine: span 447003–447121
16Section 08, Kevin F. WarrenDEF 14A2026-04-230001104659-26-047719Section “Director Compensation”. As printed: 140,000. Filing ↗machine: span 449414–449532
17Section 08, Brian E. MuellerDEF 14A2026-04-230001104659-26-047719Section “Director Compensation”. As printed: 0. Filing ↗
18Section 02, Daniel Bachus 2026-05-05Form 42026-05-070001213136-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
19Section 02, W. Stan Meyer 2026-05-05Form 42026-05-070001366176-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
20Section 02, Brian E. Mueller 2026-05-05Form 42026-05-070001346738-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
21Section 02, Lisa Graham Keegan 2026-06-10Form 42026-06-110001786362-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
22Section 02, Kevin F. Warren 2026-06-10Form 42026-06-110001558381-26-000001Insider equity transaction reported since the proxy statement. Filing ↗
23Section 02, Jack A. Henry 2026-06-10Form 42026-06-110001249315-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
24Section 02, Chevy Humphrey 2026-06-10Form 42026-06-110001786357-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
25Section 02, Sara Ward 2026-06-10Form 42026-06-110001573194-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
26Section 06, 2026 voteForm 8-K2026-06-100001104659-26-072325Item 5.07 · say-on-pay result. As reported: 97.19% (votes for as printed: 22,695,415). Filing ↗
27Section 06, 2025 voteForm 8-K2025-06-120001558370-25-008567Item 5.07 · say-on-pay result. As reported: 93.5% (votes for as printed: 23,291,624). Filing ↗
28Section 06, 2024 voteForm 8-K2024-06-140001558370-24-009197Item 5.07 · say-on-pay result. As reported: 95.77% (votes for as printed: 25,325,005). Filing ↗
29Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
30Section 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).machine: formula: sums + PSU ratio
31Section 09b board cost (computed)Computed——Cash 393,333 + equity 375,000 + all other 0 = 768,333, summed across the director compensation table rows.machine: formula: Σ = 768,333
32Grand Canyon Education (subject), Section 10b CEO totalDEF 14A2026-04-230001104659-26-047719CEO total compensation as printed in Grand Canyon Education's own proxy. As printed: 2,020,867. Filing ↗machine: span 873029–873038

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