Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-07-14

Perdoceo Education (PRDO)

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.

$5,473,723
Todd Nelson total, FY2025
67th
CEO pay percentile vs peers
CEO-to-median pay ratio
97.93%
Say-on-pay support, latest vote
Companies that benchmark against PRDO
7 companies name PRDO as a compensation peer

Each company listed discloses PRDO 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 PRDO in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Todd Nelson$835,192$0$2,287,577$0$2,125,000$0$225,954$5,473,723
President & Chief Executive Officer
Ashish Ghia502,9610818,4520912,348075,7552,309,516
Senior Vice President, Chief Financial Officer & Treasurer
John Kline397,356140,357449,0390520,567055,3081,562,627
Senior Vice President—American InterContinental University System
Greg Jansen404,94441,200462,0030535,600054,8811,498,628
Senior Vice President, General Counsel & Corporate Secretary
Elise Baskel397,91540,100449,6870521,300052,3681,461,370
Senior Vice President – Colorado Technical University

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 FY20242025
Todd Nelson$5,473,723$6,725,760$4,504,386−1,252,037
Ashish Ghia2,309,5163,405,2872,290,706−1,095,771
John Kline1,562,6271,515,1591,435,182+47,468
Greg Jansen1,498,6282,104,0181,614,425−605,390
Elise Baskel1,461,3701,495,5281,534,471−34,158

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

02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Elise BaskelPSU2025-03-064,5109,01918,038$224,844
Elise BaskelRSU2025-03-069,019
Ashish GhiaRSU2025-03-0616,415
Ashish GhiaPSU2025-03-068,20816,41532,830409,226
Todd NelsonPSU2025-03-0622,94045,88091,7601,143,788
Greg JansenPSU2025-03-064,6339,26618,532231,001
Greg JansenRSU2025-03-069,266
John KlinePSU2025-03-064,5039,00618,012224,520
John KlineRSU2025-03-069,006
Todd NelsonRSU2025-03-0645,880
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Elise Baskel$0$224,844$0100.0%
Ashish Ghia0409,2260100.0%
Todd Nelson01,143,7880100.0%
Greg Jansen0231,0010100.0%
John Kline0224,5200100.0%

% 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
Todd NelsonPSU73,140$2,145,196
Todd NelsonPSU67,3401,975,082
Todd NelsonRSU50,5051,481,312
Todd NelsonRSU45,8801,345,660
Todd NelsonPSU45,8801,345,660
Todd NelsonRSU36,5701,072,598
Ashish GhiaPSU27,290800,416
Todd NelsonRSU24,533719,553
Ashish GhiaPSU22,755667,404
Ashish GhiaRSU17,066500,546
John KlinePSU16,926496,440
Greg JansenPSU16,914496,088
Elise BaskelPSU16,838493,859
Ashish GhiaRSU16,415481,452
Ashish GhiaPSU16,415481,452
Ashish GhiaRSU13,646400,237
John KlinePSU13,635399,915
Greg JansenPSU13,626399,651
Elise BaskelPSU13,564397,832
John KlineRSU10,226299,929
Greg JansenRSU10,219299,723
Elise BaskelRSU10,173298,374
Greg JansenRSU9,266271,772
Greg JansenPSU9,266271,772
Elise BaskelRSU9,019264,527
Elise BaskelPSU9,019264,527
John KlineRSU9,006264,146
John KlinePSU9,006264,146
John KlineRSU8,462248,190
Greg JansenRSU8,456248,014
Elise BaskelRSU8,418246,900
Ashish GhiaRSU7,628223,729
John KlineRSU5,407158,587
Greg JansenRSU5,403158,470
Elise BaskelRSU5,111149,906
05

Incentive-plan design — the Compensation Discussion & Analysis

The Company’s philosophy is that compensation should reflect both Company and the individual performance and be aligned with the interests of stockholders, with upside and downside potential based on performance against pre-defined objectives. The program aims to attract and retain talent, reward strong financial and operational performance, differentiate individual performance, align executives with long-term stockholder interests through stock-based incentives, and encourage long-term commitment via multi-year vesting.

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultantPay Governance
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-2153,091,2011,058,31262,19697.93%Passed
20252025-05-2253,991,6461,836,28994,87296.55%Passed
20242024-05-2351,573,5371,768,833185,32196.35%Passed
20232023-05-2552,228,195723,949209,03298.24%Passed
20222022-05-2653,100,8191,013,466133,68997.89%Passed
20212021-06-0353,017,027787,476295,28498%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
20262026-05-2197.93%a
20252025-05-2296.55%b
20242024-05-2396.35%c

a. Approved under the standard stated in the filing — “Abstentions are treated as shares present and not voting, so abstaining has the same effect as a vote "AGAINST" this proposal.”.

b. Approved under the standard stated in the filing — “Abstentions are treated as shares present and not voting, so abstaining has the same effect as a vote "AGAINST" this proposal.”.

c. Approved under the standard stated in the filing — “Abstentions are treated as shares present and not voting, so abstaining has the same effect as 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.

08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Gregory L. JacksonIndependent · Board Chair · Compensation · Nominating and Governance$180,000$158,413$3,941$342,354
Kenda B. GonzalesIndependent · Audit (Chair) · Compliance and Risk105,000158,4133,941267,354
William D. HansenIndependent · Compensation (Chair) · Nominating and Governance100,000158,4133,941262,354
Leslie T. ThorntonIndependent · Nominating and Governance (Chair) · Audit · Compliance and Risk100,000158,4133,941262,354
Patrick W. GrossIndependent · Audit · Compensation · Compliance and Risk (Chair)100,000158,4133,941262,354
Hanna SkanderaIndependent · Audit · Compliance and Risk · Newly elected72,584187,7330260,317
Dennis H. ChookaszianIndependent · Audit · Compliance and Risk · Nominating and Governance80,000158,4133,941242,354
Alan D. WheatIndependent · Compensation · Nominating and Governance80,000158,4133,941242,354
Todd S. NelsonEmployee director0
09

Board fee structure and ownership guideline

Annual cash retainer$80,000
Annual equity retainer$140,000
Per board meeting fee$1,500
Committee chair fees (audit / comp / nom-gov)25,000 / 20,000 / 20,000
Stock ownership guideline$3
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$817,584
Equity awards (grant-date value)$1,296,624
All other compensation$27,587
Total cost of the board$2,141,795

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

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.

10a

Peer reciprocity

Of the companies Perdoceo 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 Perdoceo Education.

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
1Stride, Inc.2025James Rhyu$1,000,000$16,860,903$0$3,619,426$21,496,095
2Skillsoft Corp.2026Ronald Hovsepian772,5005,049,70106,579,37512,425,228
3Strategic Education, Inc.2025Karl McDonnell1,018,0093,250,00001,393,5585,672,067
4Perdoceo Education2025Todd Nelson835,1922,287,57702,125,0005,473,723
5Kforce, Inc.2025Joseph Liberatore925,0003,217,50401,029,0635,415,821
6Universal Technical Institute, Inc.2025Jerome Grant723,0773,506,0700874,9235,149,264
7American Public Education, Inc.2025Angela Selden838,8463,103,87401,045,3155,063,608
8Chegg, Inc.2025Dan Rosensweig850,0004,070,000004,934,000
9Lincoln Educational Services Corporation2025Scott Shaw650,0002,200,00001,134,6883,999,717
10Grand Canyon Education, Inc.2025Brian Mueller321,0001,211,6680481,5002,020,867
11Graham Holding Company2026Matthew Malone462,769600,0040636,3081,809,120
Heidrick & Struggles International, Inc.not in coverage universe
Adtalem Global Education Inc.not in coverage universe
Huron Consulting Group, Inc.not in coverage universe
WW International, 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.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Perdoceo Educationnot disclosedRSU 50 · PRSU 50not disclosedPay Governance
Adtalem Global Education Inc.not disclosednot disclosednot disclosednot disclosed
American Public Education, Inc.128.7%RSU 50 · PSU 50NoWillis Towers Watson (WTW)
Chegg, Inc.not disclosedPSU 70 · RSU 30NoAon
Graham Holding Companynot disclosedRSU 50 · PSU 50not disclosedFrederic W. Cook & Co., Inc.
Grand Canyon Education, Inc.150%RSU 100not disclosedMercer
Heidrick & Struggles International, Inc.not disclosednot disclosednot disclosednot disclosed
Huron Consulting Group, Inc.not disclosednot disclosednot disclosednot disclosed
Kforce, Inc.89%RSU 100Yes — Three-year TSR performance relative to Performance Peer GroupPay Governance LLC
Lincoln Educational Services Corporationnot disclosedRSU 50 · PSU 50NoGrant Thornton Advisors LLC
Skillsoft Corp.75%not disclosedNoAon's Human Capital Solutions Practice, a division of Aon plc
Strategic Education, Inc.108.8%RSU 100not disclosedEquilar, Inc.
Stride, Inc.181%PSU 60 · RSU 40NoCompensia
Universal Technical Institute, Inc.121%RSU 50 · PSU 50NoPearl Meyer
WW International, Inc.not disclosednot disclosednot disclosednot disclosed

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.

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, Todd NelsonDEF 14A2026-04-090001193125-26-149814Section “Compensation Tables” · page 35. As printed: 5,473,723. Filing ↗machine: span 927815–927824
2Section 01, Ashish GhiaDEF 14A2026-04-090001193125-26-149814Section “Compensation Tables” · page 35. As printed: 2,309,516. Filing ↗machine: span 956507–956516
3Section 01, John KlineDEF 14A2026-04-090001193125-26-149814Section “Compensation Tables” · page 35. As printed: 1,562,627. Filing ↗machine: span 1042621–1042630
4Section 01, Greg JansenDEF 14A2026-04-090001193125-26-149814Section “Compensation Tables” · page 35. As printed: 1,498,628. Filing ↗machine: span 1013915–1013924
5Section 01, Elise BaskelDEF 14A2026-04-090001193125-26-149814Section “Compensation Tables” · page 35. As printed: 1,461,370. Filing ↗machine: span 985214–985223
6Section 03, Elise Baskel PSUDEF 14A2026-04-090001193125-26-149814Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 1187954–1187961
7Section 03, Elise Baskel RSUDEF 14A2026-04-090001193125-26-149814Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 1186571–1186576
8Section 03, Ashish Ghia RSUDEF 14A2026-04-090001193125-26-149814Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 1152434–1152440
9Section 03, Ashish Ghia PSUDEF 14A2026-04-090001193125-26-149814Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 1153818–1153825
10Section 03, Todd Nelson PSUDEF 14A2026-04-090001193125-26-149814Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 1131353–1131362
11Section 03, Greg Jansen PSUDEF 14A2026-04-090001193125-26-149814Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 1222088–1222095
12Section 03, Greg Jansen RSUDEF 14A2026-04-090001193125-26-149814Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 1220705–1220710
13Section 03, John Kline PSUDEF 14A2026-04-090001193125-26-149814Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 1256221–1256228
14Section 03, John Kline RSUDEF 14A2026-04-090001193125-26-149814Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 1254838–1254843
15Section 03, Todd Nelson RSUDEF 14A2026-04-090001193125-26-149814Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 1127523–1127529
16Section 08, Gregory L. JacksonDEF 14A2026-04-090001193125-26-149814Section “Director Compensation”. As printed: 342,354. Filing ↗machine: span 431453–431662
17Section 08, Kenda B. GonzalesDEF 14A2026-04-090001193125-26-149814Section “Director Compensation”. As printed: 267,354. Filing ↗machine: span 413387–413596
18Section 08, William D. HansenDEF 14A2026-04-090001193125-26-149814Section “Director Compensation”. As printed: 262,354. Filing ↗machine: span 425430–425639
19Section 08, Leslie T. ThorntonDEF 14A2026-04-090001193125-26-149814Section “Director Compensation”. As printed: 262,354. Filing ↗machine: span 443490–443699
20Section 08, Patrick W. GrossDEF 14A2026-04-090001193125-26-149814Section “Director Compensation”. As printed: 262,354. Filing ↗machine: span 419408–419617
21Section 08, Hanna SkanderaDEF 14A2026-04-090001193125-26-149814Section “Director Compensation”. As printed: 260,317. Filing ↗machine: span 437467–437676
22Section 08, Dennis H. ChookaszianDEF 14A2026-04-090001193125-26-149814Section “Director Compensation”. As printed: 242,354. Filing ↗machine: span 407365–407574
23Section 08, Alan D. WheatDEF 14A2026-04-090001193125-26-149814Section “Director Compensation”. As printed: 242,354. Filing ↗machine: span 449507–449716
24Section 08, Todd S. NelsonDEF 14A2026-04-090001193125-26-149814Section “Director Compensation”. As printed: 0. Filing ↗
25Section 06, 2026 voteForm 8-K2026-05-270001193125-26-241901Item 5.07 · say-on-pay result. As reported: 97.93% (votes for as printed: 53,091,201). Filing ↗
26Section 06, 2025 voteForm 8-K2025-05-290000950170-25-078475Item 5.07 · say-on-pay result. As reported: 96.55% (votes for as printed: 53,991,646). Filing ↗
27Section 06, 2024 voteForm 8-K2024-05-240000950170-24-064642Item 5.07 · say-on-pay result. As reported: 96.35% (votes for as printed: 51,573,537). Filing ↗
28Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
29Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
30Section 09b board cost (computed)ComputedcomputedCash 817,584 + equity 1,296,624 + all other 27,587 = 2,141,795, summed across the director compensation table rows.machine: formula: Σ = 2,141,795
31Stride, Inc., Section 10b CEO totalDEF 14A2025-10-240001140361-25-039264CEO total compensation as printed in Stride, Inc.'s own proxy. As printed: 21,496,095. Filing ↗machine: r2 · c22 · span 1185718–1185729
32Skillsoft Corp., Section 10b CEO totalDEF 14A2026-05-080001437749-26-015925CEO total compensation as printed in Skillsoft Corp.'s own proxy. As printed: 12,425,228. Filing ↗machine: span 661835–661845
33Strategic Education, Inc., Section 10b CEO totalDEF 14A2026-03-110001104659-26-026380CEO total compensation as printed in Strategic Education, Inc.'s own proxy. As printed: 5,672,067. Filing ↗machine: span 569797–569806
34Perdoceo Education (subject), Section 10b CEO totalDEF 14A2026-04-090001193125-26-149814CEO total compensation as printed in Perdoceo Education's own proxy. As printed: 5,473,723. Filing ↗machine: span 927815–927824
35Kforce, Inc., Section 10b CEO totalDEF 14A2026-03-130000930420-26-000013CEO total compensation as printed in Kforce, Inc.'s own proxy. As printed: 5,415,821. Filing ↗machine: t67 · r2 · c17 · span 598740–598749
36Universal Technical Institute, Inc., Section 10b CEO totalDEF 14A2026-01-200001140361-26-001690CEO total compensation as printed in Universal Technical Institute, Inc.'s own proxy. As printed: 5,149,264. Filing ↗machine: t194 · r2 · c19 · span 904453–904462
37American Public Education, Inc., Section 10b CEO totalDEF 14A2026-04-090001140361-26-013996CEO total compensation as printed in American Public Education, Inc.'s own proxy. As printed: 5,063,608. Filing ↗machine: r2 · c22 · span 1130438–1130448
38Chegg, Inc., Section 10b CEO totalDEF 14A2026-04-280001364954-26-000040CEO total compensation as printed in Chegg, Inc.'s own proxy. As printed: 4,934,000. Filing ↗machine: t129 · r3 · c15 · span 719980–719989
39Lincoln Educational Services Corporation, Section 10b CEO totalDEF 14A2026-03-260001140361-26-011290CEO total compensation as printed in Lincoln Educational Services Corporation's own proxy. As printed: 3,999,717. Filing ↗machine: t95 · r2 · c19 · span 616298–616307
40Grand Canyon Education, Inc., Section 10b CEO totalDEF 14A2026-04-230001104659-26-047719CEO total compensation as printed in Grand Canyon Education, Inc.'s own proxy. As printed: 2,020,867. Filing ↗machine: t154 · r3 · c17 · span 873029–873038
41Graham Holding Company, Section 10b CEO totalDEF 14A2026-07-140001193125-26-302521CEO total compensation as printed in Graham Holding Company's own proxy. As printed: 1,809,120. Filing ↗machine: span 1148738–1148747
42Section 10a, Chegg, Inc. reciprocityDEF 14A0001364954-26-000040Chegg, Inc. names Perdoceo Education in its own disclosed peer group (read from its most recent proxy). Filing ↗
43Section 10a, Stride, Inc. reciprocityDEF 14A0001140361-25-039264Stride, Inc.'s most recent proxy was read; its disclosed peer group does not include Perdoceo Education. Filing ↗
44Section 10a, Strategic Education, Inc. reciprocityDEF 14A0001104659-26-026380Strategic Education, Inc. names Perdoceo Education in its own disclosed peer group (read from its most recent proxy). Filing ↗
45Section 10a, Graham Holding Company reciprocityDEF 14A0001193125-26-302521Graham Holding Company's most recent proxy was read; its disclosed peer group does not include Perdoceo Education. Filing ↗
46Section 10a, American Public Education, Inc. reciprocityDEF 14A0001140361-26-013996American Public Education, Inc. names Perdoceo Education in its own disclosed peer group (read from its most recent proxy). Filing ↗
47Section 10a, Universal Technical Institute, Inc. reciprocityDEF 14A0001140361-26-001690Universal Technical Institute, Inc. names Perdoceo Education in its own disclosed peer group (read from its most recent proxy). Filing ↗
48Section 10a, Lincoln Educational Services Corporation reciprocityDEF 14A0001140361-26-011290Lincoln Educational Services Corporation names Perdoceo Education in its own disclosed peer group (read from its most recent proxy). Filing ↗
49Section 10a, Kforce, Inc. reciprocityDEF 14A0000930420-26-000013Kforce, Inc.'s most recent proxy was read; its disclosed peer group does not include Perdoceo Education. Filing ↗