Scholastic amends CEO Peter Warwick's contract to year-to-year renewal; adds annual $500K equity awards

SCHOLASTIC CORP

Contract term changed from fixed July 31, 2024 to annual renewal by mutual written agreement by Jan 31 each year.
For fiscal 2024, bonus target is 125% of base salary; full target requires $100M Corporate Operating Income.
Annual performance-based RSU awards extended to each year; new annual equity award of $500K (75% RSUs, 25% options) vests 12 months.
Stock options exercisable for 7 years after grant, subject to termination for Cause or voluntary quit without Good Reason.
Amendment effective October 4, 2023; all other terms unchanged.

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