Fiscal year 2025 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.
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.
| 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.
| 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.
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 ↗ |
| Jack A. Henry | Director | 2026-06-10 | A | 498 | 0 | 0 | Common | Form 4 ↗ |
| Sara Ward | 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 ↗ |
| Chevy Humphrey | 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.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Brian Mueller | RSU | 2025-01-29 | — | — | 7,014 | — | $1,211,668 |
| W. Stan Meyer | RSU | 2025-01-29 | — | — | 3,743 | — | 646,603 |
| Dilek Marsh | RSU | 2025-01-29 | — | — | 2,605 | — | 450,014 |
| Daniel Bachus | RSU | 2025-01-29 | — | — | 3,743 | — | 646,603 |
| Kathy Claypatch | RSU | 2025-01-29 | — | — | 1,460 | — | 252,215 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Brian Mueller | $1,211,668 | $0 | $0 | 0.0% |
| W. Stan Meyer | 646,603 | 0 | 0 | 0.0% |
| Dilek Marsh | 450,014 | 0 | 0 | 0.0% |
| Daniel Bachus | 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.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Brian Mueller | RSU | 6,735 | — | $1,211,088 |
| Brian Mueller | RSU | 29,535 | — | 4,911,966 |
| Dilek Marsh | RSU | 10,900 | — | 1,812,779 |
| Daniel Bachus | RSU | 6,735 | — | 1,211,088 |
| Dilek Marsh | RSU | 4,183 | — | 752,187 |
| Kathy Claypatch | RSU | 2,432 | — | 437,322 |
| Brian Mueller | RSU | 12,622 | — | 2,269,688 |
| Daniel Bachus | RSU | 15,760 | — | 2,621,046 |
| Brian Mueller | RSU | 15,760 | — | 2,621,046 |
Under our compensation philosophy, a named executive officer's total compensation will vary based on the Company's overall performance, as well as the Compensation Committee's assessment of the particular named executive officer's personal performance and contribution to our overall results.
| CEO STI target (% of salary) | 100% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Mercer |
| Clawback policy | True |
| Anti-hedging | True |
| Anti-pledging | True |
| 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.
| 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.
| Ratio (CEO : median employee) | 32.5 : 1 |
|---|---|
| CEO total compensation | $2,020,867 |
| Median employee compensation | $62,115 |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Sara WardIndependent · Lead Independent Director · Nominating and Corporate Governance · Compensation · Audit | $98,333 | $75,000 | $0 | — | $0 | $173,333 |
| Jack A. HenryIndependent · Audit (Chair) · Nominating and Corporate Governance · Compensation | 80,000 | 75,000 | 0 | — | 0 | 155,000 |
| Chevy HumphreyIndependent · Compensation (Chair) · Nominating and Corporate Governance · Audit | 75,000 | 75,000 | 0 | — | 0 | 150,000 |
| Lisa Graham KeeganIndependent · Nominating and Corporate Governance (Chair) · Compensation · Audit | 75,000 | 75,000 | 0 | — | 0 | 150,000 |
| Kevin F. WarrenIndependent · Nominating and Corporate Governance · Compensation · Audit | 65,000 | 75,000 | 0 | — | 0 | 140,000 |
| Brian E. MuellerEmployee director · Board Chair | 0 | 0 | 0 | 0 | 0 | 0 |
| Annual cash retainer | $50,000 |
|---|---|
| Annual equity retainer | $75,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 15,000 |
| Stock ownership guideline | — |
| 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.
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 | Grand Canyon Education | 2025 | Brian 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.
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.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Brian Mueller | DEF 14A | 2026-04-23 | 0001104659-26-047719 | Section “Summary Compensation Table”. As printed: 2,020,867. Filing ↗machine: t154 · r3 · c17 · span 873029–873038 |
| 2 | Section 01, W. Stan Meyer | DEF 14A | 2026-04-23 | 0001104659-26-047719 | Section “Summary Compensation Table”. As printed: 1,482,246. Filing ↗machine: span 888556–888565 |
| 3 | Section 01, Daniel Bachus | DEF 14A | 2026-04-23 | 0001104659-26-047719 | Section “Summary Compensation Table”. As printed: 1,477,107. Filing ↗machine: span 903764–903773 |
| 4 | Section 01, Dilek Marsh | DEF 14A | 2026-04-23 | 0001104659-26-047719 | Section “Summary Compensation Table”. As printed: 952,508. Filing ↗machine: span 919320–919327 |
| 5 | Section 01, Kathy Claypatch | DEF 14A | 2026-04-23 | 0001104659-26-047719 | Section “Summary Compensation Table”. As printed: 675,962. Filing ↗machine: span 934623–934630 |
| 6 | Section 03, Brian Mueller RSU | DEF 14A | 2026-04-23 | 0001104659-26-047719 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t160 · r4 · c16 · span 969742–969751 |
| 7 | Section 03, W. Stan Meyer RSU | DEF 14A | 2026-04-23 | 0001104659-26-047719 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t160 · r7 · c16 · span 981407–981414 |
| 8 | Section 03, Dilek Marsh RSU | DEF 14A | 2026-04-23 | 0001104659-26-047719 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t160 · r13 · c16 · span 1004402–1004409 |
| 9 | Section 03, Daniel Bachus RSU | DEF 14A | 2026-04-23 | 0001104659-26-047719 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t154 · r11 · c8 · span 901855–901862 |
| 10 | Section 03, Kathy Claypatch RSU | DEF 14A | 2026-04-23 | 0001104659-26-047719 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t160 · r16 · c16 · span 1015881–1015888 |
| 11 | Section 07, pay ratio | DEF 14A | 2026-04-23 | 0001104659-26-047719 | Section “CEO Pay Ratio”. As printed: 32.5 : 1. Filing ↗ |
| 12 | Section 08, Sara Ward | DEF 14A | 2026-04-23 | 0001104659-26-047719 | Section “Director Compensation”. As printed: 173,333. Filing ↗machine: t68 · r2 · c9 · span 440213–440220 |
| 13 | Section 08, Jack A. Henry | DEF 14A | 2026-04-23 | 0001104659-26-047719 | Section “Director Compensation”. As printed: 155,000. Filing ↗machine: t68 · r3 · c9 · span 442451–442458 |
| 14 | Section 08, Chevy Humphrey | DEF 14A | 2026-04-23 | 0001104659-26-047719 | Section “Director Compensation”. As printed: 150,000. Filing ↗machine: t68 · r5 · c9 · span 447104–447111 |
| 15 | Section 08, Lisa Graham Keegan | DEF 14A | 2026-04-23 | 0001104659-26-047719 | Section “Director Compensation”. As printed: 150,000. Filing ↗machine: t68 · r4 · c9 · span 444865–444872 |
| 16 | Section 08, Kevin F. Warren | DEF 14A | 2026-04-23 | 0001104659-26-047719 | Section “Director Compensation”. As printed: 140,000. Filing ↗machine: t68 · r6 · c9 · span 449515–449522 |
| 17 | Section 08, Brian E. Mueller | DEF 14A | 2026-04-23 | 0001104659-26-047719 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 18 | Section 02, Daniel Bachus 2026-05-05 | Form 4 | 2026-05-07 | 0001213136-26-000006 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 19 | Section 02, W. Stan Meyer 2026-05-05 | Form 4 | 2026-05-07 | 0001366176-26-000006 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 20 | Section 02, Brian E. Mueller 2026-05-05 | Form 4 | 2026-05-07 | 0001346738-26-000006 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 21 | Section 02, Lisa Graham Keegan 2026-06-10 | Form 4 | 2026-06-11 | 0001786362-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 22 | Section 02, Jack A. Henry 2026-06-10 | Form 4 | 2026-06-11 | 0001249315-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 23 | Section 02, Sara Ward 2026-06-10 | Form 4 | 2026-06-11 | 0001573194-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 24 | Section 02, Kevin F. Warren 2026-06-10 | Form 4 | 2026-06-11 | 0001558381-26-000001 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 25 | Section 02, Chevy Humphrey 2026-06-10 | Form 4 | 2026-06-11 | 0001786357-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 26 | Section 06, 2026 vote | Form 8-K | 2026-06-10 | 0001104659-26-072325 | Item 5.07 · say-on-pay result. As reported: 97.19% (votes for as printed: 22,695,415). Filing ↗ |
| 27 | Section 06, 2025 vote | Form 8-K | 2025-06-12 | 0001558370-25-008567 | Item 5.07 · say-on-pay result. As reported: 93.5% (votes for as printed: 23,291,624). Filing ↗ |
| 28 | Section 06, 2024 vote | Form 8-K | 2024-06-14 | 0001558370-24-009197 | Item 5.07 · say-on-pay result. As reported: 95.77% (votes for as printed: 25,325,005). Filing ↗ |
| 29 | Section 01 trend, Δ column (computed) | Computed | — | computed | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 30 | Section 03b vehicle mix (computed) | 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 |
| 31 | Section 09b board cost (computed) | 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 |
| 32 | Grand Canyon Education (subject), Section 10b CEO total | DEF 14A | 2026-04-23 | 0001104659-26-047719 | CEO total compensation as printed in Grand Canyon Education's own proxy. As printed: 2,020,867. Filing ↗machine: t154 · r3 · c17 · span 873029–873038 |