Nathaniel A. Davis - Oct 6, 2021 Form 4 Insider Report for Stride, Inc. (LRN)

Role: Executive Chairman, Director
Signature: /s/ John C. Grothaus, attorney-in-fact
Stock symbol: LRN
Transactions as of: Oct 6, 2021
Transactions value $: -$11,395,462
Form type: 4
Date filed: 10/8/2021, 05:33 PM
Previous filing: Sep 21, 2021
Next filing: Feb 16, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LRN	Common Stock	Options Exercise		+692K	+157.34%		1.13M	Oct 6, 2021	Direct	F1
transaction	LRN	Common Stock	Tax liability	-$11.4M	-312K	-27.57%	$36.49	820K	Oct 6, 2021	Direct	F2
holding	LRN	Common Stock						276K	Oct 6, 2021	Nathaniel A Davis Revocable Trust

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	LRN	Restricted Stock Right	Options Exercise	$0	-692K	-100%	$0.00^*	0	Oct 6, 2021	Common Stock	692K		Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each restricted stock right represents a contingent right to receive one share of the Issuer's common stock. In accordance with the terms of the award granted on September 18, 2018, the restricted stock rights vested upon the Issuer's common stock achieving certain per share price targets based on the average 30-calendar day closing stock price subsequent to seven days after the FY 2021 year end earnings release and certification by the Issuer's board of directors of the same.
F2	Represents the number of shares withheld by the Issuer upon the vesting of restricted shares to cover the executive's withholding tax associated with the satisfaction of all vesting conditions. The number of shares withheld is based upon the closing price of a share of Stride common stock on the most recent prior market day.

Content

Each restricted stock right represents a contingent right to receive one share of the Issuer's common stock. In accordance with the terms of the award granted on September 18, 2018, the restricted stock rights vested upon the Issuer's common stock achieving certain per share price targets based on the average 30-calendar day closing stock price subsequent to seven days after the FY 2021 year end earnings release and certification by the Issuer's board of directors of the same.

Represents the number of shares withheld by the Issuer upon the vesting of restricted shares to cover the executive's withholding tax associated with the satisfaction of all vesting conditions. The number of shares withheld is based upon the closing price of a share of Stride common stock on the most recent prior market day.