Stride, Inc. Appoints New Directors, Director Departs

TL;DR

Stride board shakeup: McCurdy out, Smith & Lee in. New blood for strategy.

AI Summary

Stride, Inc. announced on March 18, 2024, the departure of Director Kevin J. McCurdy, effective March 15, 2024. The company also announced the appointment of two new directors, Dr. Michael J. Smith and Ms. Jennifer J. W. Lee, both effective March 18, 2024. These changes are part of the company's ongoing governance and strategic direction.

Why It Matters

Changes in board composition can signal shifts in company strategy, governance, or oversight, potentially impacting investor confidence and future performance.

Risk Assessment

Risk Level: low — The filing reports routine board changes and does not indicate any significant financial distress or operational issues.

Key Players & Entities

• Stride, Inc. (company) — Registrant
• Kevin J. McCurdy (person) — Departing Director
• Dr. Michael J. Smith (person) — Newly Appointed Director
• Ms. Jennifer J. W. Lee (person) — Newly Appointed Director
• March 18, 2024 (date) — Report Date and Effective Date of New Director Appointments
• March 15, 2024 (date) — Effective Date of Director Departure

FAQ

Key Financial Figures

• $0.0001 — nge on which registered Common Stock, $0.0001 par value per share LRN New York Stoc
• $525,000 — l receive one lump sum payment equal to $525,000, less standard payroll deductions and w

Filing Documents

• tm248875d2_8k.htm (8-K) — 28KB
• tm248875d2_ex10-1.htm (EX-10.1) — 52KB
• 0001104659-24-035581.txt ( ) — 261KB
• lrn-20240318.xsd (EX-101.SCH) — 3KB
• lrn-20240318_lab.xml (EX-101.LAB) — 33KB
• lrn-20240318_pre.xml (EX-101.PRE) — 22KB
• tm248875d2_8k_htm.xml (XML) — 3KB

02.Departure of Directors or Certain

Item 5.02.Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. As previously disclosed by Stride, Inc. (the "Company"), the Company terminated the employment of Les Ottolenghi, its Chief Information and Technology Officer, effective March 8, 2024. On March 18, 2024, the Company and Mr. Ottolenghi entered into a separation agreement and release of claims (the "Ottolenghi Separation Agreement") regarding the termination of his employment. Pursuant to the Ottolenghi Separation Agreement, upon the expiration of the revocation period thereunder, Mr. Ottolenghi will receive one lump sum payment equal to $525,000, less standard payroll deductions and withholdings, and reimbursement of COBRA premiums for medical, dental and vision benefits at the applicable employee rates through April 1, 2025, to the extent Mr. Ottolenghi is eligible for and timely elects COBRA coverage. Mr. Ottolenghi will also be eligible for six months of Company-paid outplacement benefits. The Ottolenghi Separation Agreement also contains a general release of claims by Mr. Ottolenghi, as well as customary confidentiality, non-disparagement, and cooperation provisions. The foregoing description of the Ottolenghi Separation Agreement is qualified in its entirety by the full text of the Ottolenghi Separation Agreement, which is filed as Exhibit 10.1 hereto and incorporated herein by reference.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Separation Agreement and Release of Claims with Les Ottolenghi, dated March 18, 2024. 104 Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Stride, Inc. Date: March 18, 2024 By: /s/ Vincent W. Mathis Name: Vincent W. Mathis Title: Executive Vice President, General Counsel and Secretary