Iole Lucchese’s activist beneficial ownership in Scholastic Corporation fell to 955,019 shares, or 5.2%, after the Estate sold 289,624 Common Shares for $11,515,537.13. The transaction generated Liquidity for estate obligations, while her control of 445,452 Class A Shares leaves her with power to elect the board members not reserved for Common Shareholders.

Key Highlights

  • The Estate sold 289,624 Scholastic Common Shares to the company for $11,515,537.13, or $39.7603 per share.
  • Lucchese controls 445,452 Class A Shares, which represent a majority of the outstanding Class A Shares.
  • The remaining Estate Common Shares may be sold to meet obligations including taxes.

Iole Lucchese’s activist position in Scholastic Corporation (NASDAQ: SCHL) comprises 955,019 beneficially owned Common Shares, representing 5.2% of the class. The Estate sold 289,624 Common Shares to Scholastic on August 26, 2026, for $11,515,537.13. The stated purpose was to generate liquidity for estate obligations, including estate taxes. The filing states that Lucchese has sole voting and dispositive power over the reported shares and Common Share equivalents.

Class A Shares Hold Board Power

Lucchese also holds 48,180 Common Shares directly, exercisable Options over 164,782 Common Shares and 6,982 restricted stock units. The ownership calculation assumes 17,615,989 Common Shares outstanding after Scholastic’s repurchase of 289,624 shares, together with the 445,452 Class A Shares and the Equity awards included in the calculation. The Class A Shares carry the voting rights needed to elect the board members not chosen by Common Shareholders. Because the Estate’s 445,452 Class A Shares constitute a majority of the outstanding Class A Shares, Lucchese has the power to elect those remaining board members.

$11,515,537.13 Estate Share Sale

The company purchased 289,624 Common Shares at $39.7603 per Common Share, with the sale completed on August 26, 2026. Lucchese is acting in her capacity as preliminary executor of the Estate for the transaction. The sale provided the liquidity identified for estate obligations, including taxes.

Further Estate Sales Under Review

As a Scholastic director and senior executive, Lucchese participates in normal management and board deliberations. She may also make proposals or recommendations to the board in carrying out her duties, while participating in the company’s equity compensation plans in the ordinary course of business. The agreement also addresses offers that would transfer sufficient voting power to elect a majority of the board.

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