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

Issuer:     Nerdy Inc. (NRDY)
CIK:        0001819404
Form:       8-K
Filed at:   2026-08-06T20:01:58+00:00
Accession:  0001819404-26-000079
Event type: other_material
Sentiment:  negative
Materiality: 0.55
Item codes: 2.05
LLM model:  deepseek-v4-flash:cloud@v2

Nerdy winds down Varsity Tutors for Schools; expects $2M-$4M exit costs
-----------------------------------------------------------------------

- Exit costs estimated at $2M-$4M, substantially all recognized in Q3 2026.
- Includes $0.3M-$0.5M severance, $0.5M-$1.3M contract termination, $1.4M-$1.6M asset impairment.
- Future cash expenses $0.7M-$1.8M; non-cash expenses $1.6M-$1.8M.
- Wind-down allows focus on core Consumer business; Varsity Tutors for Schools discontinued.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1819404/000181940426000079/0001819404-26-000079-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1819404/000181940426000079/nrdy-20260731.htm
  HTML page:      https://secwatch.observer/filing/0001819404-26-000079

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