Grand Canyon Education, Inc. (NASDAQ:LOPE) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item5.02.
|
Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers. |
Effective January13, 2017, Mr.BrentD. Richardson resigned from
his position as a member and Chairman of the Board of Directors
of Grand Canyon Education, Inc. (the Company) in order to focus
his attention on other business interests. Mr.Richardsons
decision to resign is not due to any disagreement with the
Company on any matter relating to the Companys operations,
policies or practices.
Effective January13, 2017, Mr.BradleyA. Casper resigned from his
position as a member of the Board of Directors of the Company,
including as Chair of the Nominating and Corporate Governance
Committee and as a member of the Audit Committee. Mr.Casper, who
became Executive Chairman of a Phoenix, Arizona-based advertising
agency in 2016, resigned in order to avoid the appearance of any
type of conflict of interest that could arise in the future
associated with his agencys potential consideration for
advertising and related business engagements with the Company.
Mr.Caspers decision to resign is not due to any disagreement with
the Company on any matter relating to the Companys operations,
policies or practices.
The Nominating and
Corporate Governance Committee intends promptly to launch a
search for candidates to fill the two vacancies on the Board of
Directors created by the foregoing resignations.
| Item8.01. | Other Events |
On January18,
2017, the Board of Directors of the Company appointed Mr.BrianE.
Mueller, the President, Chief Executive Officer and a director of
the Company, to the position of Chairman of the Board of
Directors. In addition, the Board of Directors of the Company
made the following changes to its Board committee assignments,
effective January18, 2017. Following such changes in committee
assignments, each of the following Board committees have three
members, all of whom are independent.
| (i) |
Nominating and Corporate Governance Committee. Ms.Sara Dial, an existing member of the Nominating and Corporate Governance Committee, was appointed as Chair of the committee; |
| (ii) |
Compensation Committee. Mr.KevinF. Warren was appointed as a member and Chair of the Compensation Committee, replacing Mr.DavidJ. Johnson on such committee; |
| (iii) |
Audit Committee. Mr.Johnson was appointed as a member of the Audit Committee. |
In addition,
Ms.Dial was appointed to serve as the Companys lead independent
director, replacing Mr.Johnson in that role.
| Item9.01. |
Consolidated Financial Statements and Exhibits. |
| 99.1 | Press Release dated January20, 2017. |
About Grand Canyon Education, Inc. (NASDAQ:LOPE)
Grand Canyon Education, Inc. is a regionally accredited university. The Company offers approximately 200 graduate and undergraduate degree programs and certificates across approximately eight colleges both online and on ground in Phoenix, Arizona and at leased facilities and at facilities owned by third-party employers of its students. The Company offers the degrees of Doctor of Education, Doctor of Business Administration, Doctor of Nursing Practice, Doctor of Philosophy, Education Specialist, Master of Divinity, Master of Arts, Master of Education, Master of Business Administration and Master of Public Administration, Master of Public Health, Master of Science, Bachelor of Arts, Bachelor of Science, and a range of programs for its degrees. It also offers certificate programs, which consist of a series of courses focused on a particular area of study for its students. Grand Canyon Education, Inc. (NASDAQ:LOPE) Recent Trading Information
Grand Canyon Education, Inc. (NASDAQ:LOPE) closed its last trading session down -0.02 at 57.59 with 235,430 shares trading hands.
