Share-Based Awards (Tables)

9 Months Ended

May 31, 2026

Share-Based Payment Arrangement [Abstract]

The following provides a summary of the University’s stock option activity:


	Options Outstanding
	Number of Shares (in thousands)			Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value (in thousands)
Balance at August 31, 2025		4,930		$	8.61
Granted		—		N/A
Exercised(1)		(821	)	$	8.59			$	17,069
Forfeited, canceled or expired		(21	)	$	10.61
Balance at May 31, 2026		4,088		$	8.60		4	$	88,444
Vested and expected to vest as of May 31, 2026		4,088		$	8.60		4	$	88,444
Exercisable as of May 31, 2026		3,331		$	8.15		4	$	73,596

(1)

Stock options may be exercised or settled through various methods. We can elect to repurchase options for cash. Otherwise, option exercises may be settled through net share settlement, cash exercises, or broker-assisted sell-to-cover transactions, all of which result in differing cash proceeds to the Company. We received $0.5 million of cash from stock option exercises in the nine months ended May 31, 2026.

Summary of Share-Based Compensation

The following details total share-based compensation during the respective periods:


	Three Months Ended May 31,				Nine Months Ended May 31,
($ in thousands)	2026		2025		2026		2025
Instructional and support	$	1,125	$	221	$	10,378	$	654
General and administrative		7,333		424		37,246		1,254
Share-based compensation	$	8,458	$	645	$	47,624	$	1,908