2U Executive Compensation (FY23)

Name: 2U (TWOU) executive compensation
Creator: Velarion
License: https://intel.velarion.ai/terms

TWOU · Executive and director compensation, fiscal 2022 to 2023

Chief executive, fiscal 2023

◇

Paul Lalljie

Latest say-on-pay support

May 20, 2024

Chief executive pay ratio

◇

To the median employee

Velarion Intel, $5,000/year: one seat · one year · every company we cover, with dashboards, peer screens and board-ready briefs.

See every company’s exec pay — free for 3 days, no card See the plan and pricing

The paid brief on 2U

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.

From $500 for the board report; $900 for both.

Get the executive brief Get the board briefNo account needed.

Data as of October 5, 2026Latest filing (8-K): May 22, 2024

10 filings cited on this page

Method: intel.velarion.ai/methodology

A report that fails to generate is refunded in full

Published by Velarion Company Intelligence

2U brief$500Get the executive brief

Velarion Intel, one year, every company

266 figures on this page: 257 cited to the filing that reported them, 9 calculated from figures it prints. See the citations

Frequently asked questions

Answers drawn from the data on this page.

Who is 2U's chief executive and what were they paid?

Paul Lalljie was paid $2,786,791 in total compensation as Chief Executive Officer for fiscal 2023. Compared with the $5,982,634 reported for fiscal 2022, Lalljie's total was 53.4% lower.

What was 2U's say-on-pay result?

Shareholders supported the say-on-pay proposal with 94.6% of votes cast for or against in favor at the meeting held May 20, 2024 for fiscal 2023.

Which companies are in 2U's peer group?

The disclosed peer group names Adtalem Global Education, Blackbaud, Chegg, Coupa Software and Coursera, among others.

What is 2U's chief executive pay ratio?

The company reported a chief executive pay ratio of 119:1 for fiscal 2023.

Executive compensation

Every element reported for each named executive officer, by fiscal year.

Fiscal 2022

Officer	Salary	Bonus	Stock awards	Option awards	Non-equity incentive	Pension and deferred earnings	All other compensation	Total
Christopher Paucek Former Chief Executive Officer	◇	—	◇	—	—	—	◇	◇
Paul Lalljie Chief Executive Officer	◇	—	◇	—	—	—	◇	◇
Harsha Mokkarala Former Chief Revenue Officer	◇	—	◇	—	—	—	◇	◇
Matthew Norden Chief Financial Officer and Chief Legal Officer	◇	—	◇	—	—	—	◇	◇

Fiscal 2023

Officer	Salary	Bonus	Stock awards	Option awards	Non-equity incentive	Pension and deferred earnings	All other compensation	Total
Christopher Paucek Former Chief Executive Officer Departed during or after this year	◇	—	◇	—	—	—	◇	◇
Paul Lalljie Chief Executive Officer	◇	—	◇	—	—	—	◇	◇
Matthew Norden Chief Financial Officer and Chief Legal Officer	◇	—	◇	—	—	—	◇	◇
Harsha Mokkarala Former Chief Revenue Officer Departed during or after this year	◇	—	◇	—	—	—	◇	◇
Aaron McCullough President, Alternative Credential Segment	◇	◇	◇	—	—	—	—	◇

A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.

Fiscal 2023

Officer	Award	Grant date	Threshold units	Target units	Units granted	Maximum units	Exercise price	Grant date fair value
Aaron M. McCullough	RSU	◇	—	—	◇	—	—	◇
Christopher J. Paucek	PSU	◇	◇	◇	—	◇	—	◇
Christopher J. Paucek	PSU	◇	◇	◇	—	◇	—	◇
Christopher J. Paucek	RSU	◇	—	—	◇	—	—	◇
Christopher J. Paucek	PSU	◇	◇	◇	—	◇	—	◇
Harsha Mokkarala	PSU	◇	◇	◇	—	◇	—	◇
Harsha Mokkarala	RSU	◇	—	—	◇	—	—	◇
Harsha Mokkarala	PSU	◇	◇	◇	—	◇	—	◇
Harsha Mokkarala	PSU	◇	◇	◇	—	◇	—	◇
Matthew J. Norden	PSU	◇	◇	◇	—	◇	—	◇
Matthew J. Norden	RSU	◇	—	—	◇	—	—	◇
Matthew J. Norden	PSU	◇	◇	◇	—	◇	—	◇
Matthew J. Norden	PSU	◇	◇	◇	—	◇	—	◇
Paul S. Lalljie	RSU	◇	—	—	◇	—	—	◇
Paul S. Lalljie	PSU	◇	◇	◇	—	◇	—	◇
Paul S. Lalljie	PSU	◇	◇	◇	—	◇	—	◇
Paul S. Lalljie	PSU	◇	◇	◇	—	◇	—	◇

A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.

As disclosed at fiscal 2023 year end

Officer	Award	Unvested units	Market value of unvested units	Exercise price	Expires
Christopher Paucek	PSU	◇	◇	—	—
	PSU	◇	◇	—	—
	PSU	◇	◇	—	—
	PSU	◇	◇	—	—
	Option	◇	—	◇	04/01/2028
	PSU	◇	◇	—	—
	PSU	◇	◇	—	—
	PSU	◇	◇	—	—
Aaron McCullough	PSU	◇	◇	—	—
Paul Lalljie	PSU	◇	◇	—	—
	PSU	◇	◇	—	—
	PSU	◇	◇	—	—
	PSU	◇	◇	—	—
	PSU	◇	◇	—	—
	PSU	◇	◇	—	—
Harsha Mokkarala	PSU	◇	◇	—	—
	PSU	◇	◇	—	—
	PSU	◇	◇	—	—
	PSU	◇	◇	—	—
	PSU	◇	◇	—	—
	PSU	◇	◇	—	—
	PSU	◇	◇	—	—
Matthew Norden	PSU	◇	◇	—	—
	PSU	◇	◇	—	—
	PSU	◇	◇	—	—
	PSU	◇	◇	—	—
	PSU	◇	◇	—	—
	PSU	◇	◇	—	—

A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Severance and change in control

The terms as written in the agreements.

Aaron McCullough

President, Alternative Credential Segment · Terms as described in the company’s compensation discussion

Severance multiple	◇
Change-in-control multiple	◇
Benefits continuation on change in control	◇
Benefits continuation	◇

Christopher Paucek

Former Chief Executive Officer · Severance agreement

Severance multiple	◇
Severance cash amount	◇
Change-in-control multiple	◇
Benefits continuation on change in control	◇
Benefits continuation	◇

Harsha Mokkarala

Former Chief Revenue Officer · Severance agreement

Severance multiple	◇
Change-in-control multiple	◇
Benefits continuation on change in control	◇
Benefits continuation	◇

Matthew Norden

Chief Financial Officer and Chief Legal Officer · Terms as described in the company’s compensation discussion

Severance multiple	◇
Change-in-control multiple	◇
Benefits continuation on change in control	◇
Benefits continuation	◇

Paul Lalljie

Chief Executive Officer · Terms as described in the company’s compensation discussion

Severance multiple	◇
Change-in-control multiple	◇
Benefits continuation on change in control	◇
Benefits continuation	◇

Director compensation

What each non-employee director was paid.

Fiscal 2023

Director	Fees earned in cash	Stock awards	Option awards	Non-equity incentive	Pension and deferred earnings	All other compensation	Total
Paul A. Maeder Board chair	◇	◇	—	—	—	—	◇
Timothy M. Haley	◇	◇	—	—	—	—	◇
Robert M. Stavis	◇	◇	—	—	—	—	◇
Coretha M. Rushing	◇	◇	—	—	—	—	◇
Edward S. Macias	◇	◇	—	—	—	—	◇
John M. Larson	◇	◇	—	—	—	—	◇
Earl Lewis	◇	◇	—	—	—	—	◇
Gregory K. Peters	◇	◇	—	—	—	—	◇
Alexis Maybank	◇	◇	—	—	—	—	◇
Sallie L. Krawcheck	◇	◇	—	—	—	—	◇

Paul S. Lalljie served on the board in fiscal 2023 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.

A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.

Board cash retainer	◇
Board equity retainer	◇
Total board retainer	◇
Board chair premium	◇
Audit committee chair	◇
Audit committee member	◇
Compensation committee chair	◇
Compensation committee member	◇
Nominating and governance chair	◇
Nominating and governance member	◇

Equity is delivered as restricted stock units.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.

Fiscal 2023

Adtalem Global Education ATGE
Blackbaud BLKB
Chegg CHGG
Coupa Software COUP
Coursera COUR
Grand Canyon Education LOPE
Guidewire Software GWRE
Laureate Education LAUR
LivePerson LPSN
New Relic NEWR
Paylocity Holdings PCTY
PowerSchool Holdings, Inc. PWSC
Ring Central symbol not shown
Strategic Education STRA
Stride LRN
Verint Systems VRNT
Workiva WK

Say-on-pay history

Shareholder support for the compensation program, by year.

Year	Meeting	Support	Votes for	Votes against	Abstentions
2023	May 20, 2024	=	◇	◇	◇
2022	June 6, 2023	=	◇	◇	◇
2021	June 8, 2022	=	◇	◇	◇
2020	June 3, 2021	=	◇	◇	◇
2019	June 23, 2020	=	◇	◇	◇
2018	June 26, 2019	=	◇	◇	◇
2017	June 26, 2018	=	◇	◇	◇
2016	June 5, 2017	=	◇	◇	◇
2015	June 7, 2016	=	◇	◇	◇

Chief executive pay ratio

As calculated and reported by the company.

Ratio

◇

Chief executive total compensation

◇

Ask our research desk — $99, 24h, every figure cited to its filing.

Sample answer — “What is the CEO’s total compensation?”

- Paul Lalljie (Chief Executive Officer), FY2023 total compensation $2,786,791 (base salary $580,192) [exec_comp, SEC accession 0001459417-24-000026, filed 2024-04-08]

See a complete sample report

What this page does not include

Everything above is a fact 2U disclosed, and it is free. Everything below is our analysis of those facts, and it is not.

Peer benchmarking

Where 2U sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.

Executive Compensation Report — $500

Written compensation analysis

A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.

Executive Compensation Report — $500

Board and governance analysis

Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.

Board Governance Report — $500

Realizable pay

What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.

Velarion Intelligence

Adviser switching and vote outcomes

Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.

Inquire about access

Multiple companies at once

Cross-company views, cohort screens, and data export across the industries we cover. This page is one company; the platform is all of them.

Velarion Intelligence

Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.

266 figures on this page: 257 cited to the filing that reported them, 9 calculated from figures it prints.

257 cited to the filing

9 calculated from the filing

Documents cited

8-K, filed May 22, 2024
0001459417-24-000047
Item 5.07 Submission of Matters to a Vote of Security Holders
DEF 14A, filed April 8, 2024
0001459417-24-000026
CEO Pay Ratio · Compensation Discussion and Analysis · Director compensation · EXECUTIVE COMPENSATION · and 2 more sections
8-K, filed June 9, 2023
0001193125-23-164428
Item 5.07. Submission of Matters to a Vote of Security Holders.
8-K, filed June 10, 2022
0001193125-22-172004
Item 5.07 Submission of Matters to a Vote of Security Holders
8-K, filed June 4, 2021
0001193125-21-183140
8-K, filed June 25, 2020
0001104659-20-076848
8-K, filed June 28, 2019
0001104659-19-038018
Item 5.07 Submission of Matters to a Vote of Security Holders
8-K, filed June 27, 2018
0001104659-18-042583
Item 5.07 Submission of Matters to a Vote of Security Holders
8-K, filed June 7, 2017
0001341004-17-000361
Item 5.07 Submission of Matters to a Vote of Security Holders
8-K, filed June 9, 2016
0001104659-16-126250

Cite this data

This page is free to cite. Attribution we ask for:

Velarion, “2U executive compensation, FY2022–FY2023.” https://intel.velarion.ai/comp/TWOU (accessed 2026).

Short form: data: Velarion

The paid brief for 2U

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.

From $500 for the board report; $900 for both.

Get the executive brief Get the board briefNo account needed.

10 filings cited on this page

Method: intel.velarion.ai/methodology

A report that fails to generate is refunded in full

Published by Velarion Company Intelligence

Embed this data

A small, cited view of this data for your own page or newsletter. Every embed carries a visible link back here, so the attribution travels with it.

The headline figures, each with its citation.

<iframe src="https://intel.velarion.ai/comp/TWOU/embed" width="560" height="480" style="border:1px solid #d8dee8;border-radius:10px" loading="lazy" title="2U executive compensation, from Velarion"></iframe>

Connect an AI assistant

Ask your own assistant about 2U and roughly 3,000 other US public companies, and get back the same figures on this page with the same citations. Free read access, no account. Add this to your assistant's connector settings.

{
  "mcpServers": {
    "velarion": {
      "type": "http",
      "url": "https://api.velarion.ai/mcp"
    }
  }
}

Setup guide and the full list of questions it answers

Peers 2U discloses

The companies named in TWOU's own disclosed peer group.

Blackbaud Chegg Coupa Software Coursera Grand Canyon Education Guidewire Software Laureate Education LivePerson New Relic Paylocity Holdings PowerSchool Holdings, Inc.Strategic Education Stride Verint Systems Workiva

Terms on this page

Say-on-Pay Vote CEO Pay Ratio Median Employee Compensation All companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

Cite this data

APA

Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854

BibTeX

@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}

More on 2U

Frequently asked questions

Executive compensation

Equity awards granted

Outstanding awards

Severance and change in control

Director compensation

Director fee schedule

Disclosed peer group

Say-on-pay history

Chief executive pay ratio

What this page does not include

Citations

Documents cited

The paid brief for 2U

Peers 2U discloses

Terms on this page