secwatch.observer — SEC 8-K summary
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Issuer:     SCHOLASTIC CORP (SCHL)
CIK:        0000866729
Form:       8-K
Filed at:   2023-10-05T23:59:59+00:00
Accession:  0000866729-23-000037
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/866729/000086672923000037/0000866729-23-000037-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/866729/000086672923000037/schl-20231003.htm
  HTML page:      https://secwatch.observer/filing/0000866729-23-000037

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer