Vanguard Portfolio Management (EXPO) holds 2.99M shares, 6.07% stake

Rhea-AI Filing Summary

Vanguard Portfolio Management reported beneficial ownership of 2,990,195 shares of Exponent Inc common stock, representing 6.07% of the class as of 03/31/2026. The filing (Schedule 13G) shows sole voting power over 43,439 shares and sole dispositive power over 2,990,195 shares. The report states these holdings include securities held for Vanguard funds and managed accounts where dispositive power is exercised by Vanguard Portfolio Management. The form is signed by Ashley Grim on 04/29/2026.

Insights

Institutional Ownership Analyst

Vanguard Portfolio Management holds a 6.07% stake in Exponent as of 03/31/2026.

Vanguard's Schedule 13G reports 2,990,195 shares beneficially owned with sole dispositive power and limited sole voting power (43,439 shares). The filing notes holdings include securities held for Vanguard funds and other managed accounts.

For investors, this is a disclosure of passive institutional ownership under Schedule 13G rather than an active takeover signal; subsequent filings could show changes in percent ownership or voting power.

Key Figures

Beneficially owned shares: 2,990,195 shares Percent of class: 6.07% Sole voting power: 43,439 shares +1 more

4 metrics

Beneficially owned shares 2,990,195 shares Amount beneficially owned as reported

Percent of class 6.07% Percent of Exponent common stock beneficially owned

Sole voting power 43,439 shares Sole power to vote or direct the vote

Sole dispositive power 2,990,195 shares Sole power to dispose or direct disposition

Key Terms

Beneficially owned, Dispositive power, Sole voting power, Investment Company Act

4 terms

Beneficially owned regulatory

"this reflects the securities beneficially owned, or deemed to be beneficially owned, by Vanguard Portfolio Management"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Dispositive power regulatory

"sole power to dispose or to direct the disposition of: 2990195"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

Sole voting power regulatory

"Sole Voting Power 43,439.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

Investment Company Act regulatory

"investment company registered under the Investment Company Act of 1940"

The Investment Company Act is a law that sets rules for businesses whose main activity is managing and selling pooled money, such as mutual funds and other investment funds. It matters to investors because it requires clear reporting, limits managers from putting their own interests ahead of clients, and mandates safekeeping and oversight of assets—similar to safety inspections and traffic rules that help keep shared vehicles reliable and trustworthy.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Exponent Inc

(Name of Issuer)

Common Stock

(Title of Class of Securities)

30214U102

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 30214U102

1

Names of Reporting Persons

Vanguard Portfolio Management

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

PENNSYLVANIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 43,439.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 2,990,195.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,990,195.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.07 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by Vanguard Portfolio Management LLC and the following affiliates of Vanguard Portfolio Management LLC or business divisions of such affiliates: Vanguard Fiduciary Trust Company and Vanguard Global Advisers, LLC. This Schedule 13G includes securities held by Vanguard funds, or sleeves thereof, over which Vanguard Portfolio Management LLC exercises dispositive power, in addition to securities held by clients over which the affiliates or business divisions of such affiliates indicated above exercise dispositive and/or voting power. This Schedule 13G does not include securities, if any, beneficially owned by other subsidiaries or affiliates of Vanguard Portfolio Management LLC, or business divisions of such subsidiaries whose ownership of securities is disaggregated from that of the reporting business unit in accordance with such release.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Exponent Inc
(b)	Address of issuer's principal executive offices: 149 Commonwealth Drive, Menlo Park, CA, 94025
Item 2.
(a)	Name of person filing: Vanguard Portfolio Management
(b)	Address or principal business office or, if none, residence: 100 Vanguard Blvd,, Malvern, PA, 19355
(c)	Citizenship: PA
(d)	Title of class of securities: Common Stock
(e)	CUSIP Number(s): 30214U102
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 2990195
(b)	Percent of class: 6.07 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 43439
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 2990195
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Vanguard Portfolio Management, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein.No one other person's interest in the securities reported herein is more than 5%.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Vanguard Portfolio Management

Signature:	Ashley Grim
Name/Title:	Head of Global Fund Administration
Date:	04/29/2026

FAQ

What stake does Vanguard Portfolio Management report in Exponent (EXPO)?

Vanguard Portfolio Management reports beneficial ownership of 2,990,195 shares, equal to 6.07% of Exponent's common stock as of 03/31/2026. The figure appears on a Schedule 13G signed on 04/29/2026.

How much voting power does Vanguard have in Exponent according to this filing?

The filing shows Vanguard has sole voting power over 43,439 shares and shared voting power of 0. Dispositive power is sole for 2,990,195 shares.

Does the Schedule 13G indicate Vanguard acts on behalf of other funds or clients?

Yes. The filing states the holdings include securities held by Vanguard funds and managed accounts for which Vanguard Portfolio Management or affiliates exercise dispositive power.

Who signed the filing and when was it signed?

The Schedule 13G was signed by Ashley Grim, Head of Global Fund Administration on 04/29/2026, certifying the reported ownership details.

Is this Schedule 13G a signal of active control or a passive holding?

This Schedule 13G reports passive institutional ownership information; it does not by itself indicate a control intent. The filing lists dispositive power over shares but follows 13G disclosure conventions.