SEC Form 4 · accession 0001179110-15-011771
SCHOLASTIC CORP · SCHL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Andrews S Hedden
Officer — EVP, General Counsel · Director
Period of report
Aug 3, 2015
Accepted (ET)
Aug 5, 2015 · 5:25 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000866729
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Aug 3, 2015 | A | 8,164 | $42.87 | A | 19,742 | D | |
| Common Stock | Aug 5, 2015 | M | 25,000 | $16.48 | A | 44,742 | D | |
| Common StockF1 | Aug 5, 2015 | S | 25,000 | $43.137 | D | 19,742 | D | |
| Common Stock | holding | — | — | — | 2,000 | I | In IRA |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (right to buy)F2 | $16.48 | Aug 5, 2015 | M | 25,000 | D | — | Dec 16, 2018 | Common Stock | 25,000 | 40,000 | D |
Explanation of responses
- F1The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $43.00 to $43.40, inclusive. The reporting person undertakes to provide to Scholastic Corporation, any holder of Scholastic Corporation or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (1) to this Form 4.
- F2Employee stock options vest ratably over a four year period beginning with the first anniversary after the date of grant.