Stride said it will add two directors to its board this quarter: Steven Guttentag, a longtime education technology executive, and Dylan Haggart, founder, managing partner and chief investment officer of Fivespan Partners.
The company also said it is creating a new capital allocation committee to review its capital structure and spending priorities. Independent directors Brian Shepherd and Haggart will co-chair the committee.
Stride said the committee’s initial review is expected to be completed within the next three months. After that, the company plans to publicly announce its target capital structure and a framework for how it will allocate future cash flows.
The board move comes alongside a cooperation agreement with Fivespan Partners, one of Stride’s significant shareholders.
Guttentag brings more than 30 years in K-12 education and education technology. He most recently was chief executive of EPS Learning from 2023 to 2025. Before that, he led Reading Plus from 2019 until its sale to DreamBox Learning in 2021. He also co-founded Connections Education and later served as president of Pearson Online & Blended Learning from 2014 to 2018, when that business grew to serve more than 70,000 students.
Haggart has more than 15 years of investment and public company governance experience. He founded Fivespan in 2023 after a decade at ValueAct Capital from 2013 to 2023. He has served on Seagate Technology’s board since 2018 and was an independent director of Fiserv from 2022 to 2024.
Stride said its 2026 annual meeting of stockholders will be held on December 10, 2026. The market has reacted to these announcements by moving the company's shares 2.19% to a price of $81.36. For more information, read the company's full 8-K submission here.
