Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-07-16

Covista (CVSA)

Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$17,244,988
Stephen Beard total, FY2025
92nd
CEO pay percentile vs peers
341:1
CEO-to-median pay ratio
85.36%
Say-on-pay support, latest vote
Companies that benchmark against CVSA
2 companies name CVSA as a compensation peer

Each company listed discloses CVSA in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named CVSA in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Stephen Beard$1,000,000$0$13,999,529$0$1,905,625$0$339,834$17,244,988
Chairman and Chief Executive Officer
Michael Betz648,092250,000689,1500896,6100111,0492,594,901
President, Walden University & Chief Digital Officer
Robert Phelan540,2680948,8170501,696024,5462,015,327
Senior Vice President and Chief Financial Officer
Douglas Beck535,8060536,4060457,4280122,2071,651,847
Senior Vice President, General Counsel, Corporate Secretary and Institutional Support Services
Scott Liles537,5000671,1800376,212034,8061,619,698
President Medical & Veterinary

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
Stephen Beard$17,244,988
Michael Betz2,594,901
Robert Phelan2,015,327
Douglas Beck1,651,847
Scott Liles1,619,698

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Sara HillCHRO2025-10-15D1,310$149$194,692CommonForm 4 ↗
Michael W. MalafronteDirector2025-11-04A1,0009291,850CommonForm 4 ↗
Kenneth J. PhelanDirector2025-11-05A5089849,931CommonForm 4 ↗
Robert J. PhelanChief Financial Officer2025-11-10D1,63795155,826CommonForm 4 ↗
Manjunath GangadharanVP, Chief Accounting Officer2025-11-12D94969,048CommonForm 4 ↗
Michael BetzPres. Walden University & CDO2025-11-12D4419642,451CommonForm 4 ↗
Lisa W. WardellDirector2025-11-12D6459662,088CommonForm 4 ↗
Kenneth J. PhelanDirector2025-11-12D3929637,734CommonForm 4 ↗
Michael W. MalafronteDirector2025-11-12D5269650,633CommonForm 4 ↗
Manjunath GangadharanVP, Chief Accounting Officer2025-11-12A8909786,205CommonForm 4 ↗
Douglas BeckSVP, GC, Corp. Sec & ISS2025-11-12D3619634,750CommonForm 4 ↗
Lisa W. WardellDirector2025-11-12A1,44597139,963CommonForm 4 ↗
Evan TrentPresident, Adtalem Elevate2025-11-12A1,67397162,047CommonForm 4 ↗
Maurice HerreraSVP - Chief Marketing Officer2025-11-12D3439633,017CommonForm 4 ↗
Sara HillCHRO2025-11-12A1,67397162,047CommonForm 4 ↗
Douglas BeckSVP, GC, Corp. Sec & ISS2025-11-12A2,07597200,985CommonForm 4 ↗
Karen Sue CoxPresident, Chamberlain Univ.2025-11-12D3109629,841CommonForm 4 ↗
William W. BurkeDirector2025-11-12A1,44597139,963CommonForm 4 ↗
Michael BetzPres. Walden University & CDO2025-11-12A5,57597539,995CommonForm 4 ↗
Betty VandenboschDirector2025-11-12D4219640,525CommonForm 4 ↗
Georgette KiserDirector2025-11-12D4259640,911CommonForm 4 ↗
Betty VandenboschDirector2025-11-12A1,44597139,963CommonForm 4 ↗
Robert J. PhelanChief Financial Officer2025-11-12A4,25997412,527CommonForm 4 ↗
Robert J. PhelanChief Financial Officer2025-11-12D6239659,970CommonForm 4 ↗
Kenneth J. PhelanDirector2025-11-12A1,44597139,963CommonForm 4 ↗
Sharon L. O'KeefeDirector2025-11-12A1,44597139,963CommonForm 4 ↗
Michael W. MalafronteDirector2025-11-12A1,44597139,963CommonForm 4 ↗
Scott LilesPresident, Medical and Vet2025-11-12A2,61397253,095CommonForm 4 ↗
Scott LilesPresident, Medical and Vet2025-11-12D4079639,178CommonForm 4 ↗
Donna J. HrinakDirector2025-11-12A1,44597139,963CommonForm 4 ↗
Donna J. HrinakDirector2025-11-12D3449633,113CommonForm 4 ↗
Maurice HerreraSVP - Chief Marketing Officer2025-11-12A1,75097169,505CommonForm 4 ↗
Karen Sue CoxPresident, Chamberlain Univ.2025-11-12A5819756,276CommonForm 4 ↗
William W. BurkeDirector2025-11-12D3909637,541CommonForm 4 ↗
Evan TrentPresident, Adtalem Elevate2025-11-12D3559634,172CommonForm 4 ↗
Megan NoelChief Corp. Affairs Officer2025-11-12A2,22697215,610CommonForm 4 ↗
Liam KrehbielDirector2025-11-12A1,44597139,963CommonForm 4 ↗
Liam KrehbielDirector2025-11-12D4219640,525CommonForm 4 ↗
Georgette KiserDirector2025-11-12A1,44597139,963CommonForm 4 ↗
Beard, Stephen W.Chairman & CEO2025-11-13D9,20496885,977CommonForm 4 ↗
Beard, Stephen W.Chairman & CEO2025-12-10D5,33200CommonForm 4 ↗
Michael W. MalafronteDirector2026-03-03A1,20098117,564Common, open-market saleForm 4 ↗
Michael W. MalafronteDirector2026-03-10A15,3051011,543,734Common, open-market saleForm 4 ↗
Michael W. MalafronteDirector2026-03-10A11,8411011,194,339Common, open-market saleForm 4 ↗
Michael W. MalafronteDirector2026-03-10A8,890101897,341Common, open-market saleForm 4 ↗
Scott LilesPresident, Medical and Vet2026-04-15D44811250,396CommonForm 4 ↗
Robert J. PhelanChief Financial Officer2026-05-08D10,0001261,262,064CommonForm 4 ↗
Douglas BeckSVP, GC, Corp. Sec & ISS2026-05-08D9,6151271,221,381CommonForm 4 ↗
Karen Sue CoxPresident, Chamberlain Univ.2026-05-08D2,000125249,000CommonForm 4 ↗
Beard, Stephen W.Chairman & CEO2026-05-08D15,8741312,083,509CommonForm 4 ↗
Manjunath GangadharanVP, Chief Accounting Officer2026-05-18D42612854,464CommonForm 4 ↗
Beard, Stephen W.Chairman & CEO2026-06-10D2,529131330,755CommonForm 4 ↗
Beard, Stephen W.Chairman & CEO2026-06-10D2,762130359,443CommonForm 4 ↗
Douglas BeckSVP, GC, Corp. Sec & ISS2026-07-07D2,439135330,092CommonForm 4 ↗
Robert J. PhelanChief Financial Officer2026-07-07D2,900135392,677CommonForm 4 ↗
Douglas BeckSVP, GC, Corp. Sec & ISS2026-07-07D2,650135358,818CommonForm 4 ↗
Robert J. PhelanChief Financial Officer2026-07-07D2,414135326,822CommonForm 4 ↗
Beard, Stephen W.Chairman & CEO2026-07-13D5,291133702,401CommonForm 4 ↗
Amelia ManningPresident, Chamberlain Univ.2026-07-15A4,317116499,995CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Scott LilesPSU2024-11-132,2404,4808,960$402,528
Michael BetzPSU2024-11-132,3004,6009,200413,310
Scott LilesRSU2024-11-132,990268,652
Douglas BeckPSU2024-11-131,7903,5807,160321,664
Stephen BeardPSU2024-11-1346,74093,480186,9608,399,178
Robert J. PhelanRSU2024-11-134,220379,167
Douglas BeckRSU2024-11-132,390214,742
Michael BetzRSU2024-11-133,070275,840
Stephen BeardRSU2024-11-1362,3305,600,351
Robert J. PhelanPSU2024-11-133,1706,34012,680569,650
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Scott Liles$268,652$402,528$060.0%
Michael Betz275,840413,310060.0%
Douglas Beck214,742321,664060.0%
Stephen Beard5,600,3518,399,178060.0%
Robert J. Phelan379,167569,650060.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Stephen BeardRSU155,109$19,734,518
Stephen BeardPSU335,15042,641,135
Douglas BeckRSU8,8121,121,151
PhelanRSU17,2992,200,952
PhelanOption65736.46
Douglas BeckPSU22,1802,821,961
Scott LilesPSU8,1701,039,469
PhelanPSU41,5405,285,134
Stephen BeardOption18,34437.79
Michael BetzPSU25,9103,296,529
Michael BetzRSU9,0711,154,103
Scott LilesRSU5,184659,560
Douglas BeckOption2,06936.46
05

Incentive-plan design — the Compensation Discussion & Analysis

Adtalem's executive compensation program strategically rewards leaders for delivering exceptional financial results while building long-term shareholder value through educational excellence. We believe academic quality and student-centric focus drive sustainable growth, incorporating rigorous performance objectives that recognize leadership for improving student outcomes.

CEO STI target (% of salary)125%
CEO LTI target (% of salary)
Independent consultantMeridian (July 2024 - February 2025) and Aon Human Capital Solutions (March 2025 - end of FY25)
Clawback policytrue
Anti-hedging
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20252025-11-1227,143,4114,326,428328,72985.36%Passed
20242024-11-1331,744,452847,326740,98395.23%Passed
20242024-11-1331,744,452847,326740,98395.23%Passed
20232023-11-0836,251,135693,516314,97797.29%Passed
20222022-11-0939,249,3431,895,49415,41695.36%Passed
20202020-11-1739,849,7193,028,550746,18291.35%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20252025-11-1285.36%a
20242024-11-1395.23%b
20242024-11-1395.23%c

a. Approved under the standard stated in the filing — “At the 2025 Annual Meeting, to elect directors and adopt the other proposals, the following votes are required under our governing documents and Delaware corporate law: PROPOSAL VOTE REQUIRED EFFECT OF ABSTENTION EFFECT OF BROKER NON-VOTE* 1 Election of directors Approval of the majority of shares represented at the Annual Meeting Treated as vote against No effect on the outcome 2 Ratify selection of PwC as independent registered public accounting firm for the fiscal year ending June 30, 2026* Approval of the majority of shares represented at the Annual Meeting Treated as vote against No effect on the outcome 3 Advisory vote to approve the compensation of our named executive officers** Approval of the majority of shares represented at the Annual Meeting Treated as vote against No effect on the outcome ​ * A broker non-vote occurs when a broker submits a proxy but does not vote for an item because it is not a "routine" item and the broker has not received voting instructions from the beneficial owner.”.

b. Approved under the standard stated in the filing — “At the 2024 Annual Meeting, to elect directors and adopt the other proposals, the following votes are required under our governing documents and Delaware corporate law: PROPOSAL VOTE REQUIRED EFFECT OF ABSTENTION EFFECT OF BROKER NON-VOTE* 1 Election of directors Approval of the majority of shares represented at the Annual Meeting Treated as vote against No effect on the outcome 2 Ratify selection of PwC as independent registered public accounting firm* Approval of the majority of shares represented at the Annual Meeting Treated as vote against No effect on the outcome 3 Advisory vote to approve the compensation of our named executive officers** Approval of the majority of shares represented at the Annual Meeting Treated as vote against No effect on the outcome ​ * A broker non-vote occurs when a broker submits a proxy but does not vote for an item because it is not a "routine" item and the broker has not received voting instructions from the beneficial owner.”.

c. Approved under the standard stated in the filing — “At the 2024 Annual Meeting, to elect directors and adopt the other proposals, the following votes are required under our governing documents and Delaware corporate law: PROPOSAL VOTE REQUIRED EFFECT OF ABSTENTION EFFECT OF BROKER NON-VOTE* 1 Election of directors Approval of the majority of shares represented at the Annual Meeting Treated as vote against No effect on the outcome 2 Ratify selection of PwC as independent registered public accounting firm* Approval of the majority of shares represented at the Annual Meeting Treated as vote against No effect on the outcome 3 Advisory vote to approve the compensation of our named executive officers** Approval of the majority of shares represented at the Annual Meeting Treated as vote against No effect on the outcome ​ * A broker non-vote occurs when a broker submits a proxy but does not vote for an item because it is not a "routine" item and the broker has not received voting instructions from the beneficial owner.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)341 : 1
CEO total compensation$17,244,988
Median employee compensation$50,603
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Lisa W. WardellIndependent · Academic Quality (Chair)$133,000$140,166$0$0$0$273,166
Michael W. MalafronteIndependent · Lead Independent Director · Compensation (Chair)111,250140,166000251,416
William W. BurkeIndependent · Audit and Finance (Chair)110,000140,166000250,166
Donna J. HrinakIndependent · Audit and Finance97,500140,166000237,666
Georgette KiserIndependent · External Relations (Chair)97,500140,166000237,666
Sharon L. O'KeefeIndependent · Compensation97,500140,166000237,666
Kenneth J. PhelanIndependent · Audit and Finance85,000140,166000225,166
Betty VandenboschIndependent · Nominating & Governance (Chair)85,000140,166000225,166
Liam KrehbielIndependent · Compensation85,000140,166000225,166
Stephen W. BeardEmployee director · Board Chair00000
09

Board fee structure and ownership guideline

Annual cash retainer$85,000
Annual equity retainer$140,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)25,000 / 17,500 / 12,500
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$901,750
Equity awards (grant-date value)$1,261,494
All other compensation$0
Total cost of the board$2,163,244

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

ENSG Ensign GroupAPEI American Public EducationGHC Graham Holdings CompanyBFAM Bright Horizons Family Solutions LLCAMN AMN HealthcareBKD Brookdale Senior Living Inc.CHGG CheggCHE ChemedSTRA Strategic EducationWLY John Wiley & SonsPRDO Perdoceo EducationLAUR Laureate EducationMD MEDNAX, Inc.TWOU 2U Inc.AMED AmedisysCCRN Cross Country HealthcareUTI Universal Technical InstituteLRN StrideUDMY Udemy Pediatric Medical Group
10a

Peer reciprocity

Of the companies Covista names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Ensign Group (ENSG)105 American Public Education (APEI)106 Graham Holdings Company (GHC) Bright Horizons Family Solutions LLC (BFAM) AMN Healthcare (AMN)107 Brookdale Senior Living Inc. (BKD)108 Chegg (CHGG)109 Chemed (CHE)110 Strategic Education (STRA)111 John Wiley & Sons (WLY) Perdoceo Education (PRDO) Laureate Education (LAUR) MEDNAX, Inc. (MD) 2U Inc. (TWOU)112 Amedisys (AMED) Cross Country Healthcare (CCRN)113 Universal Technical Institute (UTI)114 Stride (LRN)115 Udemy (UDMY)116

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Covista.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Stride2025James Rhyu$1,000,000$16,860,903$0$3,619,426$21,496,095
2Covista2025Stephen Beard1,000,00013,999,52901,905,62517,244,988
3Ensign Group2025Barry Port549,2642,912,355010,317,24713,804,700
4Chemed2025Kevin McNamara1,862,8372,883,5535,036,0211,486,97612,904,720
5AMN Healthcare2025Cary Grace1,060,0008,363,11701,146,12510,669,780
6Strategic Education2025Karl McDonnell1,018,0093,250,00001,393,5585,672,067
7Brookdale Senior Living Inc.2025Nikolas Stengle229,3104,283,9680403,5715,307,655
8Udemy2024Greg Brown583,7504,548,838005,151,396
9Universal Technical Institute2025Jerome Grant723,0773,506,0700874,9235,149,264
10American Public Education2025Angela Selden838,8463,103,87401,045,3155,063,608
11Chegg2025Dan Rosensweig850,0004,070,000004,934,000
122U Inc.2023Paul Lalljie580,1922,193,399002,786,791
13MEDNAX, Inc.2025James Swift54,167730,720068,9812,775,881
14Cross Country Healthcare2025Kevin Clark18,2692,177,134002,355,403
Graham Holdings Companynot in coverage universe
Bright Horizons Family Solutions LLCnot in coverage universe
John Wiley & Sonsnot in coverage universe
Perdoceo Educationnot in coverage universe
Laureate Educationnot in coverage universe
Amedisysnot in coverage universe

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Covistanot disclosedPSU 60 · RSU 40NoMeridian (July 2024 - February 2025) and Aon Human Capital Solutions (March 2025 - end of FY25)
2U Inc.not disclosedPSU 55 · RSU 45NoWillis Towers Watson
Amedisysnot disclosednot disclosednot disclosednot disclosed
American Public Education128.7%RSU 50 · PSU 50NoWillis Towers Watson (WTW)
AMN Healthcare87%PSU 65 · RSU 35Yes — Relative TSRFW Cook
Bright Horizons Family Solutions LLCnot disclosednot disclosednot disclosednot disclosed
Brookdale Senior Living Inc.125.7%PSU 60 · RSU 40NoF.W. Cook & Co., Inc.
Cheggnot disclosedPSU 70 · RSU 30NoAon
Chemed60.4%not disclosedYes — 3-Year Relative TSRCompensation Strategies, Inc.
Cross Country Healthcare20%RSU 60 · PSU 40NoPearl Meyer
Ensign Groupnot disclosednot disclosednot disclosedWillis Towers Watson
Graham Holdings Companynot disclosednot disclosednot disclosednot disclosed
John Wiley & Sonsnot disclosednot disclosednot disclosednot disclosed
Laureate Educationnot disclosednot disclosednot disclosednot disclosed
MEDNAX, Inc.180%PSU 50 · RSU 50NoSemler Brossy Consulting Group
Perdoceo Educationnot disclosednot disclosednot disclosednot disclosed
Strategic Education108.8%RSU 100not disclosedEquilar, Inc.
Stride181%PSU 60 · RSU 40NoCompensia
Udemynot disclosedRSU 50 · PSU 50NoFW Cook
Universal Technical Institute121%RSU 50 · PSU 50NoPearl Meyer

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Stephen BeardDEF 14A2025-10-020001104659-25-096070Section “2025 SUMMARY COMPENSATION TABLE”. As printed: 17,244,988. Filing ↗machine: t220 · r5 · c16 · span 1815856–1815866
2Section 01, Michael BetzDEF 14A2025-10-020001104659-25-096070Section “2025 SUMMARY COMPENSATION TABLE”. As printed: 2,594,901. Filing ↗machine: t220 · r14 · c16 · span 1858822–1858831
3Section 01, Robert PhelanDEF 14A2025-10-020001104659-25-096070Section “2025 SUMMARY COMPENSATION TABLE”. As printed: 2,015,327. Filing ↗machine: t220 · r8 · c16 · span 1830334–1830343
4Section 01, Douglas BeckDEF 14A2025-10-020001104659-25-096070Section “2025 SUMMARY COMPENSATION TABLE”. As printed: 1,651,847. Filing ↗machine: t220 · r11 · c16 · span 1844302–1844311
5Section 01, Scott LilesDEF 14A2025-10-020001104659-25-096070Section “2025 SUMMARY COMPENSATION TABLE”. As printed: 1,619,698. Filing ↗machine: t220 · r17 · c16 · span 1873413–1873422
6Section 03, Scott Liles PSUDEF 14A2025-10-020001104659-25-096070Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t198 · r7 · c10 · span 1652677–1652682
7Section 03, Michael Betz PSUDEF 14A2025-10-020001104659-25-096070Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t198 · r6 · c10 · span 1648752–1648757
8Section 03, Scott Liles RSUDEF 14A2025-10-020001104659-25-096070Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t198 · r7 · c5 · span 1651263–1651268
9Section 03, Douglas Beck PSUDEF 14A2025-10-020001104659-25-096070Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t198 · r5 · c10 · span 1644826–1644831
10Section 03, Stephen Beard PSUDEF 14A2025-10-020001104659-25-096070Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t198 · r3 · c10 · span 1636963–1636969
11Section 03, Robert J. Phelan RSUDEF 14A2025-10-020001104659-25-096070Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t198 · r4 · c5 · span 1639483–1639488
12Section 03, Douglas Beck RSUDEF 14A2025-10-020001104659-25-096070Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t198 · r5 · c5 · span 1643412–1643417
13Section 03, Michael Betz RSUDEF 14A2025-10-020001104659-25-096070Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t198 · r6 · c5 · span 1647338–1647343
14Section 03, Stephen Beard RSUDEF 14A2025-10-020001104659-25-096070Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t198 · r3 · c5 · span 1635546–1635552
15Section 03, Robert J. Phelan PSUDEF 14A2025-10-020001104659-25-096070Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t198 · r4 · c10 · span 1640897–1640902
16Section 07, pay ratioDEF 14A2025-10-020001104659-25-096070Section “CEO Pay Ratio”. As printed: 341 : 1. Filing ↗
17Section 08, Lisa W. WardellDEF 14A2025-10-020001104659-25-096070Section “Director Compensation”. As printed: 273,166. Filing ↗machine: t90 · r13 · c6 · span 793445–793452
18Section 08, Michael W. MalafronteDEF 14A2025-10-020001104659-25-096070Section “Director Compensation”. As printed: 251,416. Filing ↗machine: t90 · r9 · c6 · span 785235–785242
19Section 08, William W. BurkeDEF 14A2025-10-020001104659-25-096070Section “Director Compensation”. As printed: 250,166. Filing ↗machine: t90 · r4 · c6 · span 774950–774957
20Section 08, Donna J. HrinakDEF 14A2025-10-020001104659-25-096070Section “Director Compensation”. As printed: 237,666. Filing ↗machine: t90 · r6 · c6 · span 779142–779149
21Section 08, Georgette KiserDEF 14A2025-10-020001104659-25-096070Section “Director Compensation”. As printed: 237,666. Filing ↗machine: t90 · r7 · c6 · span 781164–781171
22Section 08, Sharon L. O'KeefeDEF 14A2025-10-020001104659-25-096070Section “Director Compensation”. As printed: 237,666. Filing ↗machine: t90 · r10 · c6 · span 787259–787266
23Section 08, Kenneth J. PhelanDEF 14A2025-10-020001104659-25-096070Section “Director Compensation”. As printed: 225,166. Filing ↗machine: t90 · r11 · c6 · span 789283–789290
24Section 08, Betty VandenboschDEF 14A2025-10-020001104659-25-096070Section “Director Compensation”. As printed: 225,166. Filing ↗machine: t90 · r12 · c6 · span 791307–791314
25Section 08, Liam KrehbielDEF 14A2025-10-020001104659-25-096070Section “Director Compensation”. As printed: 225,166. Filing ↗machine: r8 · c6 · span 783187–783194
26Section 08, Stephen W. BeardDEF 14A2025-10-020001104659-25-096070Section “Director Compensation”. As printed: 0. Filing ↗
27Section 02, Sara Hill 2025-10-15Form 42025-10-160000730464-25-000030Insider equity transaction reported since the proxy statement. Filing ↗
28Section 02, Michael W. Malafronte 2025-11-04Form 42025-11-040000730464-25-000035Insider equity transaction reported since the proxy statement. Filing ↗
29Section 02, Kenneth J. Phelan 2025-11-05Form 42025-11-050000730464-25-000037Insider equity transaction reported since the proxy statement. Filing ↗
30Section 02, Robert J. Phelan 2025-11-10Form 42025-11-120000730464-25-000038Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, Manjunath Gangadharan 2025-11-12Form 42025-11-140000730464-25-000044Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, Michael Betz 2025-11-12Form 42025-11-140000730464-25-000040Insider equity transaction reported since the proxy statement. Filing ↗
33Section 02, Lisa W. Wardell 2025-11-12Form 42025-11-140000730464-25-000058Insider equity transaction reported since the proxy statement. Filing ↗
34Section 02, Kenneth J. Phelan 2025-11-12Form 42025-11-140000730464-25-000054Insider equity transaction reported since the proxy statement. Filing ↗
35Section 02, Michael W. Malafronte 2025-11-12Form 42025-11-140000730464-25-000051Insider equity transaction reported since the proxy statement. Filing ↗
36Section 02, Manjunath Gangadharan 2025-11-12Form 42025-11-140000730464-25-000044Insider equity transaction reported since the proxy statement. Filing ↗
37Section 02, Douglas Beck 2025-11-12Form 42025-11-140000730464-25-000043Insider equity transaction reported since the proxy statement. Filing ↗
38Section 02, Lisa W. Wardell 2025-11-12Form 42025-11-140000730464-25-000058Insider equity transaction reported since the proxy statement. Filing ↗
39Section 02, Evan Trent 2025-11-12Form 42025-11-140000730464-25-000056Insider equity transaction reported since the proxy statement. Filing ↗
40Section 02, Maurice Herrera 2025-11-12Form 42025-11-140000730464-25-000045Insider equity transaction reported since the proxy statement. Filing ↗
41Section 02, Sara Hill 2025-11-12Form 42025-11-140000730464-25-000046Insider equity transaction reported since the proxy statement. Filing ↗
42Section 02, Douglas Beck 2025-11-12Form 42025-11-140000730464-25-000043Insider equity transaction reported since the proxy statement. Filing ↗
43Section 02, Karen Sue Cox 2025-11-12Form 42025-11-140000730464-25-000042Insider equity transaction reported since the proxy statement. Filing ↗
44Section 02, William W. Burke 2025-11-12Form 42025-11-140000730464-25-000041Insider equity transaction reported since the proxy statement. Filing ↗
45Section 02, Michael Betz 2025-11-12Form 42025-11-140000730464-25-000040Insider equity transaction reported since the proxy statement. Filing ↗
46Section 02, Betty Vandenbosch 2025-11-12Form 42025-11-140000730464-25-000057Insider equity transaction reported since the proxy statement. Filing ↗
47Section 02, Georgette Kiser 2025-11-12Form 42025-11-140000730464-25-000048Insider equity transaction reported since the proxy statement. Filing ↗
48Section 02, Betty Vandenbosch 2025-11-12Form 42025-11-140000730464-25-000057Insider equity transaction reported since the proxy statement. Filing ↗
49Section 02, Robert J. Phelan 2025-11-12Form 42025-11-140000730464-25-000055Insider equity transaction reported since the proxy statement. Filing ↗
50Section 02, Robert J. Phelan 2025-11-12Form 42025-11-140000730464-25-000055Insider equity transaction reported since the proxy statement. Filing ↗
51Section 02, Kenneth J. Phelan 2025-11-12Form 42025-11-140000730464-25-000054Insider equity transaction reported since the proxy statement. Filing ↗
52Section 02, Sharon L. O'Keefe 2025-11-12Form 42025-11-140000730464-25-000053Insider equity transaction reported since the proxy statement. Filing ↗
53Section 02, Michael W. Malafronte 2025-11-12Form 42025-11-140000730464-25-000051Insider equity transaction reported since the proxy statement. Filing ↗
54Section 02, Scott Liles 2025-11-12Form 42025-11-140000730464-25-000050Insider equity transaction reported since the proxy statement. Filing ↗
55Section 02, Scott Liles 2025-11-12Form 42025-11-140000730464-25-000050Insider equity transaction reported since the proxy statement. Filing ↗
56Section 02, Donna J. Hrinak 2025-11-12Form 42025-11-140000730464-25-000047Insider equity transaction reported since the proxy statement. Filing ↗
57Section 02, Donna J. Hrinak 2025-11-12Form 42025-11-140000730464-25-000047Insider equity transaction reported since the proxy statement. Filing ↗
58Section 02, Maurice Herrera 2025-11-12Form 42025-11-140000730464-25-000045Insider equity transaction reported since the proxy statement. Filing ↗
59Section 02, Karen Sue Cox 2025-11-12Form 42025-11-140000730464-25-000042Insider equity transaction reported since the proxy statement. Filing ↗
60Section 02, William W. Burke 2025-11-12Form 42025-11-140000730464-25-000041Insider equity transaction reported since the proxy statement. Filing ↗
61Section 02, Evan Trent 2025-11-12Form 42025-11-140000730464-25-000056Insider equity transaction reported since the proxy statement. Filing ↗
62Section 02, Megan Noel 2025-11-12Form 42025-11-140000730464-25-000052Insider equity transaction reported since the proxy statement. Filing ↗
63Section 02, Liam Krehbiel 2025-11-12Form 42025-11-140000730464-25-000049Insider equity transaction reported since the proxy statement. Filing ↗
64Section 02, Liam Krehbiel 2025-11-12Form 42025-11-140000730464-25-000049Insider equity transaction reported since the proxy statement. Filing ↗
65Section 02, Georgette Kiser 2025-11-12Form 42025-11-140000730464-25-000048Insider equity transaction reported since the proxy statement. Filing ↗
66Section 02, Beard, Stephen W. 2025-11-13Form 42025-11-140000730464-25-000039Insider equity transaction reported since the proxy statement. Filing ↗
67Section 02, Beard, Stephen W. 2025-12-10Form 42025-12-120000730464-25-000061Insider equity transaction reported since the proxy statement. Filing ↗
68Section 02, Michael W. Malafronte 2026-03-03Form 42026-03-050000730464-26-000011Insider equity transaction reported since the proxy statement. Filing ↗
69Section 02, Michael W. Malafronte 2026-03-10Form 42026-03-120000730464-26-000012Insider equity transaction reported since the proxy statement. Filing ↗
70Section 02, Michael W. Malafronte 2026-03-10Form 42026-03-120000730464-26-000012Insider equity transaction reported since the proxy statement. Filing ↗
71Section 02, Michael W. Malafronte 2026-03-10Form 42026-03-120000730464-26-000012Insider equity transaction reported since the proxy statement. Filing ↗
72Section 02, Scott Liles 2026-04-15Form 42026-04-160000730464-26-000016Insider equity transaction reported since the proxy statement. Filing ↗
73Section 02, Robert J. Phelan 2026-05-08Form 42026-05-120000730464-26-000025Insider equity transaction reported since the proxy statement. Filing ↗
74Section 02, Douglas Beck 2026-05-08Form 42026-05-120000730464-26-000024Insider equity transaction reported since the proxy statement. Filing ↗
75Section 02, Karen Sue Cox 2026-05-08Form 42026-05-120000730464-26-000023Insider equity transaction reported since the proxy statement. Filing ↗
76Section 02, Beard, Stephen W. 2026-05-08Form 42026-05-120000730464-26-000022Insider equity transaction reported since the proxy statement. Filing ↗
77Section 02, Manjunath Gangadharan 2026-05-18Form 42026-05-200000730464-26-000027Insider equity transaction reported since the proxy statement. Filing ↗
78Section 02, Beard, Stephen W. 2026-06-10Form 42026-06-120000730464-26-000029Insider equity transaction reported since the proxy statement. Filing ↗
79Section 02, Beard, Stephen W. 2026-06-10Form 42026-06-120000730464-26-000029Insider equity transaction reported since the proxy statement. Filing ↗
80Section 02, Douglas Beck 2026-07-07Form 42026-07-090000730464-26-000030Insider equity transaction reported since the proxy statement. Filing ↗
81Section 02, Robert J. Phelan 2026-07-07Form 42026-07-090000730464-26-000031Insider equity transaction reported since the proxy statement. Filing ↗
82Section 02, Douglas Beck 2026-07-07Form 42026-07-090000730464-26-000030Insider equity transaction reported since the proxy statement. Filing ↗
83Section 02, Robert J. Phelan 2026-07-07Form 42026-07-090000730464-26-000031Insider equity transaction reported since the proxy statement. Filing ↗
84Section 02, Beard, Stephen W. 2026-07-13Form 42026-07-150000730464-26-000032Insider equity transaction reported since the proxy statement. Filing ↗
85Section 02, Amelia Manning 2026-07-15Form 42026-07-160000730464-26-000033Insider equity transaction reported since the proxy statement. Filing ↗
86Section 06, 2025 voteForm 8-K2025-11-140000730464-25-000060Item 5.07 · say-on-pay result. As reported: 85.36% (votes for as printed: 27,143,411). Filing ↗
87Section 06, 2024 voteForm 8-K2024-11-190001558370-24-015853Item 5.07 · say-on-pay result. As reported: 95.23%. Filing ↗
88Section 06, 2024 voteForm 8-K2024-11-190001558370-24-015853Item 5.07 · say-on-pay result. As reported: 95.23%. Filing ↗
89Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
90Section 09b board cost (computed)ComputedcomputedCash 901,750 + equity 1,261,494 + all other 0 = 2,163,244, summed across the director compensation table rows.machine: formula: Σ = 2,163,244
91Stride, Section 10b CEO totalDEF 14A2025-10-240001140361-25-039264CEO total compensation as printed in Stride's own proxy. As printed: 21,496,095. Filing ↗machine: r2 · c22 · span 1185718–1185729
92Covista (subject), Section 10b CEO totalDEF 14A2025-10-020001104659-25-096070CEO total compensation as printed in Covista's own proxy. As printed: 17,244,988. Filing ↗machine: t220 · r5 · c16 · span 1815856–1815866
93Ensign Group, Section 10b CEO totalDEF 14A2026-04-020001125376-26-000014CEO total compensation as printed in Ensign Group's own proxy. As printed: 13,804,700. Filing ↗machine: span 521316–521326
94Chemed, Section 10b CEO totalDEF 14A2026-04-090001562762-26-000052CEO total compensation as printed in Chemed's own proxy. As printed: 12,904,720. Filing ↗machine: t18 · r8 · c8 · span 1091846–1091856
95AMN Healthcare, Section 10b CEO totalDEF 14A2026-03-180001104659-26-029908CEO total compensation as printed in AMN Healthcare's own proxy. As printed: 10,669,780. Filing ↗machine: t94 · r1 · c42 · span 1287064–1287074
96Strategic Education, Section 10b CEO totalDEF 14A2026-03-110001104659-26-026380CEO total compensation as printed in Strategic Education's own proxy. As printed: 5,672,067. Filing ↗machine: span 569797–569806
97Brookdale Senior Living Inc., Section 10b CEO totalDEF 14A2026-04-300001193125-26-197412CEO total compensation as printed in Brookdale Senior Living Inc.'s own proxy. As printed: 5,307,655. Filing ↗machine: t227 · r4 · c27 · span 1161767–1161776
98Udemy, Section 10b CEO totalDEF 14A2025-04-250001607939-25-000046CEO total compensation as printed in Udemy's own proxy. As printed: 5,151,396. Filing ↗machine: r2 · c42 · span 749913–749922
99Universal Technical Institute, Section 10b CEO totalDEF 14A2026-01-200001140361-26-001690CEO total compensation as printed in Universal Technical Institute's own proxy. As printed: 5,149,264. Filing ↗machine: t194 · r2 · c19 · span 904453–904462
100American Public Education, Section 10b CEO totalDEF 14A2026-04-090001140361-26-013996CEO total compensation as printed in American Public Education's own proxy. As printed: 5,063,608. Filing ↗machine: r2 · c22 · span 1130438–1130448
101Chegg, Section 10b CEO totalDEF 14A2026-04-280001364954-26-000040CEO total compensation as printed in Chegg's own proxy. As printed: 4,934,000. Filing ↗machine: t129 · r3 · c15 · span 719980–719989
1022U Inc., Section 10b CEO totalDEF 14A2024-04-080001459417-24-000026CEO total compensation as printed in 2U Inc.'s own proxy. As printed: 2,786,791. Filing ↗machine: r2 · c27 · span 974167–974176
103MEDNAX, Inc., Section 10b CEO totalDEF 14A2026-03-270001193125-26-127299CEO total compensation as printed in MEDNAX, Inc.'s own proxy. As printed: 2,775,881. Filing ↗machine: r22 · c24 · span 1960691–1960700
104Cross Country Healthcare, Section 10b CEO totalDEF 14A2026-03-300001140361-26-011981CEO total compensation as printed in Cross Country Healthcare's own proxy. As printed: 2,355,403. Filing ↗machine: r2 · c19 · span 890078–890087
105Section 10a, Ensign Group reciprocityDEF 14A0001125376-26-000014Ensign Group's most recent proxy was read; its disclosed peer group does not include Covista. Filing ↗
106Section 10a, American Public Education reciprocityDEF 14A0001140361-26-013996American Public Education names Covista in its own disclosed peer group (read from its most recent proxy). Filing ↗
107Section 10a, AMN Healthcare reciprocityDEF 14A0001104659-26-029908AMN Healthcare's most recent proxy was read; its disclosed peer group does not include Covista. Filing ↗
108Section 10a, Brookdale Senior Living Inc. reciprocityDEF 14A0001193125-26-197412Brookdale Senior Living Inc.'s most recent proxy was read; its disclosed peer group does not include Covista. Filing ↗
109Section 10a, Chegg reciprocityDEF 14A0001364954-26-000040Chegg's most recent proxy was read; its disclosed peer group does not include Covista. Filing ↗
110Section 10a, Chemed reciprocityDEF 14A0001562762-26-000052Chemed's most recent proxy was read; its disclosed peer group does not include Covista. Filing ↗
111Section 10a, Strategic Education reciprocityDEF 14A0001104659-26-026380Strategic Education names Covista in its own disclosed peer group (read from its most recent proxy). Filing ↗
112Section 10a, 2U Inc. reciprocityDEF 14A0001459417-24-0000262U Inc.'s most recent proxy was read; its disclosed peer group does not include Covista. Filing ↗
113Section 10a, Cross Country Healthcare reciprocityDEF 14A0001140361-26-011981Cross Country Healthcare's most recent proxy was read; its disclosed peer group does not include Covista. Filing ↗
114Section 10a, Universal Technical Institute reciprocityDEF 14A0001140361-26-001690Universal Technical Institute's most recent proxy was read; its disclosed peer group does not include Covista. Filing ↗
115Section 10a, Stride reciprocityDEF 14A0001140361-25-039264Stride's most recent proxy was read; its disclosed peer group does not include Covista. Filing ↗
116Section 10a, Udemy reciprocityDEF 14A0001607939-25-000046Udemy's most recent proxy was read; its disclosed peer group does not include Covista. Filing ↗