Fivespan Partners, LP reported beneficial ownership of 2,236,033 shares of Stride, Inc., or 5.3% of the company's common stock, according to a Schedule 13D filed with the US Securities and Exchange Commission on Nov. 10.
\nThe filing gives Nov. 3 as the date of the event that required it. The shares are held by Fivespan Partners Fund, Ltd., for which Fivespan serves as investment manager. The filing is made jointly with Fivespan Partners GP, LLC and Dylan G. Haggart, whom it identifies as Fivespan's co-founder, managing partner and chief investment officer.
\nUnder a cooperation agreement signed Oct. 8, Stride agreed to \"appoint Mr. Haggart as an independent director on the board of directors,\" the filing says. Haggart joined the board Oct. 22, and Dr. Steven Guttentag has served as a non-voting board observer since Oct. 8, according to the filing. The agreement provides for Guttentag to join the board after the 2026 annual meeting.
\nThe filing says the Fivespan group withdrew its notice of director nominations and shareholder proposal for the 2026 annual meeting, along with a demand to inspect Stride's books and records, and agreed to standstill obligations. During the standstill period, the group's ownership is capped at 7.5% of the outstanding common stock, with a 12.5% cap on aggregate economic exposure, according to the filing.
\nStride also formed a Capital Allocation Committee, with Haggart and Brian Shepherd as co-chairs, the filing says.
", "text": "Fivespan Partners, LP reported beneficial ownership of 2,236,033 shares of Stride, Inc., or 5.3% of the company's common stock, according to a Schedule 13D filed with the US Securities and Exchange Commission on Nov. 10.\n\nThe filing gives Nov. 3 as the date of the event that required it. The shares are held by Fivespan Partners Fund, Ltd., for which Fivespan serves as investment manager. The filing is made jointly with Fivespan Partners GP, LLC and Dylan G. Haggart, whom it identifies as Fivespan's co-founder, managing partner and chief investment officer.\n\nUnder a cooperation agreement signed Oct. 8, Stride agreed to \"appoint Mr. Haggart as an independent director on the board of directors,\" the filing says. Haggart joined the board Oct. 22, and Dr. Steven Guttentag has served as a non-voting board observer since Oct. 8, according to the filing. The agreement provides for Guttentag to join the board after the 2026 annual meeting.\n\nThe filing says the Fivespan group withdrew its notice of director nominations and shareholder proposal for the 2026 annual meeting, along with a demand to inspect Stride's books and records, and agreed to standstill obligations. During the standstill period, the group's ownership is capped at 7.5% of the outstanding common stock, with a 12.5% cap on aggregate economic exposure, according to the filing.\n\nStride also formed a Capital Allocation Committee, with Haggart and Brian Shepherd as co-chairs, the filing says." }, "claims": [], "contact": "research@alphanume.com", "corrections": [], "dek": "Stride agreed in an Oct. 8 cooperation agreement to put Dylan G. 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