Stride Appoints Dylan Haggart and Steven Guttentag to Board, Forms Capital Allocation Committee

Stride, Inc. (NYSE: LRN) announced on October 8, 2026, that it has entered into a Cooperation Agreement with Fivespan Partners, LP and related entities, regarding the appointment of new directors and the formation of a new board committee. Under the agreement, the company will appoint Dylan G. Haggart as an independent director effective October 30, 2026, and Dr. Steven Guttentag as a Board Observer immediately, with the expectation that Dr. Guttentag will become a voting director following the 2026 Annual Meeting.

The appointments are part of a settlement with the Investor Group, which includes the withdrawal of previous demands for director nominations and stockholder proposals for the 2026 Annual Meeting. In exchange, the Investor Group has agreed to standstill obligations and voting commitments that will remain in effect until the earliest of the 2027 Annual Meeting notice deadline or the mutual termination of the agreement. The Investor Group retains replacement rights for the director seats should they become vacant during this period.

Ms. Allison Lawrence has tendered her resignation from the Board and the Compensation Committee, effective immediately prior to Mr. Haggart’s appointment. Following the 2026 Annual Meeting, Ms. Lawrence will return to the Board as a non-voting observer, and the Board will expand from eight to ten directors, with nine independent directors.

Mr. Haggart, age 39, is the Founder, Managing Partner, and Chief Investment Officer of Fivespan Partners. He previously served as a Partner at ValueAct Capital and has served as an independent director of Seagate Technology since 2018. Dr. Guttentag, age 63, brings over 30 years of experience in K-12 education technology, most recently serving as CEO of EPS Learning. He previously led Pearson Online & Blended Learning and co-founded Connections Education.

The Board has also approved the formation of a Capital Allocation Committee, effective upon Mr. Haggart’s appointment. The committee will be co-chaired by Brian Shepherd and Mr. Haggart, and include Aida Alvarez. The company’s Chief Executive Officer, Robert E. Knowling, Jr., will serve as a non-voting member. The committee will review the company’s capital structure and solicit shareholder input on capital allocation priorities, with a public announcement of the target capital structure and framework expected within the next three months.