secwatch.observer — SEC 8-K summary
======================================

Issuer:     SCHOLASTIC CORP (SCHL)
CIK:        0000866729
Form:       8-K
Filed at:   2024-04-19T23:59:59+00:00
Accession:  0000950170-24-045981
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Scholastic repurchases 400K shares from Estate of former CEO at 3.8% discount
-----------------------------------------------------------------------------

- Bought 400,000 shares at $33.50646 each (3.8% discount to $34.83 close) for $13.4M total.
- Audit Committee of independent directors approved the deal; Chair Lucchese (co-executor) recused.
- Remaining authorization under current $100M buyback program is ~$86.6M.
- Estate will apply substantial proceeds to meet its obligations.
- Year-to-date total repurchases now stand at 3,993,576 shares.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/866729/000095017024045981/0000950170-24-045981-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/866729/000095017024045981/schl-20240418.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-045981

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