Current Report · Items 5.02 · 8-K
Grand Canyon Education, Inc.
LOPENASDAQEQUITYCurrent
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. The Board of Directors of Grand Canyon Education, Inc. (the “Company”) has unanimously determined to place Daniel E. Bachus, the Company’s Chief Financial Officer, on paid administrative leave, effective August 21, 2026. Mr.…
Filed Aug 24, 2026Accepted Aug 24, 2026, 4:05 PM EDTCIK 1434588Accession 0001104659-26-100299
Company context
Grand Canyon Education, Inc. (“GCE”), incorporated in 2008, is a publicly traded education services company that currently provides services to 20 university partners. GCE is uniquely positioned in the education services industry in that its leadership has over 30 years of proven expertise in providing a full array of support services in the post-secondary education sector and has developed significant technological solutions, infrastructure and operational processes to provide superior services in these areas on a large scale. GCE provides services that support students, faculty and staff of partner institutions such as marketing, strategic enrollment management, counseling services, financial services, technology, technical support, compliance, human resources, classroom operations, content development, faculty recruitment and training, among others. For more information about GCE visit the Company's website at www.gce.com.
Current securities
Disclosure sections
Items 5.02Select an item to read the extracted section. The as-filed document remains the primary evidence.
Item 5.02Item 5.02 - Departure/Election of Directors
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
The Board of Directors of Grand Canyon Education, Inc. (the “Company”) has unanimously determined to place Daniel E. Bachus, the Company’s Chief Financial Officer, on paid administrative leave, effective August 21, 2026. Mr. Bachus’ leave is in connection with an ongoing governmental investigation involving a non-employee third party’s trades in Company stock. The administrative leave is not the result of any issues with the Company’s financial statements or accounting policies or practices. The Company is not a focus of this investigation. The Company engaged outside counsel and is conducting its own investigation into the matter and is cooperating with the government in its investigation.
The Board of Directors of the Company appointed Lori Browning, the Senior Vice President & Controller - Chief Accounting Officer of the Company, to serve as the interim chief financial officer and interim principal financial officer of the Company, effective August 21, 2026.
Ms. Browning, age 59, joined the Company in 2008 and served as Vice President - Controller until 2019, when she was appointed as the Senior Vice President & Controller - Chief Accounting Officer. Prior to joining the Company, Ms. Browning served in various accounting and finance management positions in higher education from 1990 to 2007. Ms. Browning has been an Arizona certified public accountant since 1996 and received two B.S. degrees in Finance and Accounting from Arizona State University.