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LOPE > SEC Filings for LOPE > Form 8-K on 18-Mar-2014All Recent SEC Filings

Show all filings for GRAND CANYON EDUCATION, INC.



Change in Directors or Principal Officers

Item 5.02. Departure of Directors or Certain Officers: Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On March 14, 2014, the Compensation Committee of the Board of Directors of Grand Canyon Education, Inc., a Delaware corporation (the "Company"), approved base salary increases for the Company's named executive officers following a review of competitive market data. Effective April 1, 2014, the named executive officers will receive base salaries as set forth below.

                                                              New Base Salary
   Name                         Current Base Salary       Effective April 1, 2014
   Brian E. Mueller            $             621,000     $                 642,000
   Chief Executive Offer
   W. Stan Meyer               $             362,250     $                 375,000
   Chief Operating Officer
   Daniel E. Bachus            $             362,250     $                 375,000
   Chief Financial Officer
   Joseph N. Mildenhall        $             310,500     $                 321,000
   Chief Information Officer
   Brian N. Roberts            $             225,000     $                 275,000
   General Counsel

The Compensation Committee also increased the target bonus percentage for Mr. Roberts from 31.5% to 45.5%, such that Mr. Roberts' target cash bonus under our annual cash incentive plan for 2014 will be equal to 45.5% of his 2014 base salary. Under our annual cash incentive plan, our named executive officers earn bonuses based on the Company's achievement of certain targeted amounts of revenue and adjusted EBITDA, subject to downward adjustment by the Compensation Committee based on performance against individual performance goals. The target bonus percentages for our other named executive officers remain the same.

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