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

Perdoceo Education (PRDO)

CEO Todd Nelson was paid $5,473,723 in fiscal year 2025, ↓ down 18.6% from fiscal year 2024, the 70th percentile of its disclosed peer group (SEC filing 0001193125-26-149814 ↗): 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
70th
CEO pay percentile vs peers
—
CEO-to-median pay ratio
97.93%
Say-on-pay support, latest vote

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PRDO's next annual pay disclosure, estimated April 7, 2027.est. Filing ↗

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 FY2024→2025
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.

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Companies that benchmark against PRDO
8 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.

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
Alan D. WheatIndependent Director$242,354
Dennis H. ChookaszianIndependent Director$242,354
Gregory L. JacksonChair of the Board$342,354
Hanna SkanderaIndependent Director$260,317
Kenda B. GonzalesIndependent Director$267,354
Leslie T. ThorntonIndependent Director$262,354
Patrick W. GrossIndependent Director$262,354
William D. HansenIndependent Director$262,354
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
Greg JansenRSU2025-03-06——9,266—$231,001
Elise BaskelRSU2025-03-06——9,019—224,844
Todd NelsonRSU2025-03-06——45,880—1,143,788
John KlineRSU2025-03-06——9,006—224,520
Ashish GhiaRSU2025-03-06——16,415—409,226
John KlinePSU2025-03-064,5039,006—18,012224,520
Greg JansenPSU2025-03-064,6339,266—18,532231,001
Ashish GhiaPSU2025-03-068,20816,415—32,830409,226
Todd NelsonPSU2025-03-0622,94045,880—91,7601,143,788
Elise BaskelPSU2025-03-064,5109,019—18,038224,844
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Greg Jansen$231,001$231,001$050.0%
Elise Baskel224,844224,844050.0%
Todd Nelson1,143,7881,143,788050.0%
John Kline224,520224,520050.0%
Ashish Ghia409,226409,226050.0%

% 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
Greg JansenRSU10,219—$299,723
Greg JansenRSU5,403—158,470
John KlineRSU5,407—158,587
Elise BaskelRSU10,173—298,374
Greg JansenPSU16,914—496,088
Elise BaskelPSU16,838—493,859
Todd NelsonRSU45,880—1,345,660
Todd NelsonPSU45,880—1,345,660
Todd NelsonPSU73,140—2,145,196
Todd NelsonPSU67,340—1,975,082
Todd NelsonRSU50,505—1,481,312
Todd NelsonRSU36,570—1,072,598
Ashish GhiaPSU27,290—800,416
Todd NelsonRSU24,533—719,553
Ashish GhiaPSU22,755—667,404
Ashish GhiaRSU17,066—500,546
John KlinePSU16,926—496,440
Greg JansenPSU9,266—271,772
Ashish GhiaRSU16,415—481,452
Ashish GhiaPSU16,415—481,452
Ashish GhiaRSU13,646—400,237
John KlinePSU13,635—399,915
Greg JansenPSU13,626—399,651
Elise BaskelPSU13,564—397,832
John KlineRSU10,226—299,929
Greg JansenRSU9,266—271,772
Elise BaskelRSU9,019—264,527
Elise BaskelPSU9,019—264,527
John KlineRSU9,006—264,146
John KlinePSU9,006—264,146
John KlineRSU8,462—248,190
Greg JansenRSU8,456—248,014
Elise BaskelRSU8,418—246,900
Ashish GhiaRSU7,628—223,729
Elise BaskelRSU5,111—149,906
05

Incentive-plan design — the Compensation Discussion & Analysis

The Company's compensation philosophy is to attract, motivate, and retain highly qualified executives by providing competitive compensation that aligns with the Company's business objectives and stockholder interests.

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 Risk105,000158,413——3,941267,354
Leslie T. ThorntonIndependent · Audit · Compliance and Risk · Nominating and Governance (Chair)100,000158,413——3,941262,354
Patrick W. GrossIndependent · Audit · Compensation · Compliance and Risk (Chair)100,000158,413——3,941262,354
William D. HansenIndependent · Compensation (Chair) · Nominating and Governance100,000158,413——3,941262,354
Hanna SkanderaIndependent · Audit · Compliance and Risk · Newly elected72,584187,733——0260,317
Dennis H. ChookaszianIndependent · Audit · Compliance and Risk · Nominating and Governance80,000158,413——3,941242,354
Alan D. WheatIndependent · Compensation · Nominating and Governance80,000158,413——3,941242,354
Todd S. NelsonEmployee director—————0
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—
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
—Huron Consulting Group, Inc.——————not in coverage universe
—Heidrick & Struggles International, Inc.——————not in coverage universe
—Adtalem Global Education 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 · PSU 50not disclosedPay Governance
Adtalem Global Education Inc.not disclosednot disclosednot disclosednot disclosed
American Public Education, Inc.not disclosedRSU 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 Corporation174.6%RSU 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 · RSA 40NoCompensia
Universal Technical Institute, Inc.121%not disclosedNoPearl 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.

10d

Frequently asked questions

Who was the highest-paid executive at Perdoceo Education in fiscal 2025?
As disclosed, Todd Nelson (President & Chief Executive Officer) was the highest-paid executive at Perdoceo Education in fiscal 2025, with total compensation of $5,473,723.
How does Perdoceo Education's chief executive pay compare to its disclosed peer group?
As disclosed, Todd Nelson's total compensation ranked at the 70th percentile of Perdoceo Education's disclosed peer group.
How did shareholders vote on Perdoceo Education's executive compensation?
As disclosed, 97.93% of shareholders supported Perdoceo Education's executive compensation in the latest say-on-pay vote.
How much does Perdoceo Education spend in total on board compensation for fiscal 2025?
As disclosed, Perdoceo Education reported total board compensation of $2,141,795 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 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.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Todd NelsonDEF 14A2026-04-090001193125-26-149814Section “Compensation Tables” · page 35. As printed: 5,473,723. View filing ↗
2Section 01, Ashish GhiaDEF 14A2026-04-090001193125-26-149814Section “Compensation Tables” · page 35. As printed: 2,309,516. View filing ↗
3Section 01, John KlineDEF 14A2026-04-090001193125-26-149814Section “Compensation Tables” · page 35. As printed: 1,562,627. View filing ↗
4Section 01, Greg JansenDEF 14A2026-04-090001193125-26-149814Section “Compensation Tables” · page 35. As printed: 1,498,628. View filing ↗
5Section 01, Elise BaskelDEF 14A2026-04-090001193125-26-149814Section “Compensation Tables” · page 35. As printed: 1,461,370. View filing ↗
6Section 03, Greg Jansen RSUDEF 14A2026-04-090001193125-26-149814Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
7Section 03, Elise Baskel RSUDEF 14A2026-04-090001193125-26-149814Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
8Section 03, Todd Nelson RSUDEF 14A2026-04-090001193125-26-149814Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
9Section 03, John Kline RSUDEF 14A2026-04-090001193125-26-149814Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
10Section 03, Ashish Ghia RSUDEF 14A2026-04-090001193125-26-149814Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
11Section 03, John Kline PSUDEF 14A2026-04-090001193125-26-149814Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
12Section 03, Greg Jansen PSUDEF 14A2026-04-090001193125-26-149814Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
13Section 03, Ashish Ghia PSUDEF 14A2026-04-090001193125-26-149814Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
14Section 03, Todd Nelson PSUDEF 14A2026-04-090001193125-26-149814Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
15Section 03, Elise Baskel PSUDEF 14A2026-04-090001193125-26-149814Section “Executive Compensation” · grants of plan-based awards table. View filing ↗
16Section 08, Gregory L. JacksonDEF 14A2026-04-090001193125-26-149814Section “Director Compensation”. As printed: 342,354. View filing ↗
17Section 08, Kenda B. GonzalesDEF 14A2026-04-090001193125-26-149814Section “Director Compensation”. As printed: 267,354. View filing ↗
18Section 08, Leslie T. ThorntonDEF 14A2026-04-090001193125-26-149814Section “Director Compensation”. As printed: 262,354. View filing ↗
19Section 08, Patrick W. GrossDEF 14A2026-04-090001193125-26-149814Section “Director Compensation”. As printed: 262,354. View filing ↗
20Section 08, William D. HansenDEF 14A2026-04-090001193125-26-149814Section “Director Compensation”. As printed: 262,354. View filing ↗
21Section 08, Hanna SkanderaDEF 14A2026-04-090001193125-26-149814Section “Director Compensation”. As printed: 260,317. View filing ↗
22Section 08, Dennis H. ChookaszianDEF 14A2026-04-090001193125-26-149814Section “Director Compensation”. As printed: 242,354. View filing ↗
23Section 08, Alan D. WheatDEF 14A2026-04-090001193125-26-149814Section “Director Compensation”. As printed: 242,354. View filing ↗
24Section 08, Todd S. NelsonDEF 14A2026-04-090001193125-26-149814Section “Director Compensation”. As printed: 0. View 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). View 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). View 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). View filing ↗
28Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.
29Section 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).
30Section 09b board cost (computed)Computed——Cash 817,584 + equity 1,296,624 + all other 27,587 = 2,141,795, summed across the director compensation table rows.
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. View filing ↗
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. View filing ↗
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. View filing ↗
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. View filing ↗
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. View filing ↗
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. View filing ↗
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. View filing ↗
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. View filing ↗
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. View filing ↗
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. View filing ↗
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. View filing ↗
42Section 10a, Chegg, Inc. reciprocityDEF 14A—0001364954-26-000040Chegg, Inc. names Perdoceo Education in its own disclosed peer group (read from its most recent proxy). View filing ↗
43Section 10a, Grand Canyon Education, Inc. reciprocityDEF 14A—0001104659-26-047719Grand Canyon Education, Inc.'s most recent proxy was read; its disclosed peer group does not include Perdoceo Education. View filing ↗
44Section 10a, Stride, Inc. reciprocityDEF 14A—0001140361-25-039264Stride, Inc.'s most recent proxy was read; its disclosed peer group does not include Perdoceo Education. View filing ↗
45Section 10a, Strategic Education, Inc. reciprocityDEF 14A—0001104659-26-026380Strategic Education, Inc. names Perdoceo Education in its own disclosed peer group (read from its most recent proxy). View filing ↗
46Section 10a, American Public Education, Inc. reciprocityDEF 14A—0001140361-26-013996American Public Education, Inc. names Perdoceo Education in its own disclosed peer group (read from its most recent proxy). View filing ↗
47Section 10a, Universal Technical Institute, Inc. reciprocityDEF 14A—0001140361-26-001690Universal Technical Institute, Inc. names Perdoceo Education in its own disclosed peer group (read from its most recent proxy). View filing ↗
48Section 10a, Lincoln Educational Services Corporation reciprocityDEF 14A—0001140361-26-011290Lincoln Educational Services Corporation names Perdoceo Education in its own disclosed peer group (read from its most recent proxy). View filing ↗
49Section 10a, Kforce, Inc. reciprocityDEF 14A—0000930420-26-000013Kforce, Inc.'s most recent proxy was read; its disclosed peer group does not include Perdoceo Education. View filing ↗
50Section 10a, Graham Holding Company reciprocityDEF 14A—0001193125-26-302521Graham Holding Company's most recent proxy was read; its disclosed peer group does not include Perdoceo Education. View filing ↗