Scholastic CFO Ken Cleary to step down, become President, International

SCHOLASTIC CORP

CFO Ken Cleary will step down when successor is appointed (expected before end of 2023).
Appointed President, International; base salary $625k annually, reporting to CEO.
Equity grants: $500k in FY2024 and $400k in FY2025, 60% RSUs and 40% options.
STIP bonus target 50% of base salary; term ends Sept 30, 2025 unless CEO requests earlier retirement with full benefits.

item 5.02 item 9.01

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Role change

Ken Cleary

President, International

SCHL · SCHOLASTIC CORP

Filed: October 5, 2023, 7:59 PM ET

As previously announced Mr. Cleary will be stepping down as Chief Financial Officer of the Company when his successor has been identified and appointed. Thereafter, Mr. Cleary will be appointed as the Company's President, International and the terms and conditions of his continued employment with the Company in this capacity will be governed by the Agreement.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Ken Cleary was appointed as President, International at SCHOLASTIC CORP.

Action: appointed
Role: President, International

Exact text from the filing

As previously announced Mr. Cleary will be stepping down as Chief Financial Officer of the Company when his successor has been identified and appointed. Thereafter, Mr. Cleary will be appointed as the Company's President, International and the terms and conditions of his continued employment with the Company in this capacity will be governed by the Agreement.

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SCHOLASTIC CORP filing history →

Source: SEC EDGAR

accession 0000866729-23-000037

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