Phoenix Education names Michael Cochran interim CFO

Westblom's separation terms include cash severance, a fiscal 2026 bonus and accelerated vesting of outstanding equity awards.

Rhea-AI Filing Summary

Phoenix Education Partners, Inc. (PXED) and Chief Financial Officer and Treasurer Blair Westblom agreed she will separate from the company effective October 10, 2026. The company said her departure was not due to disagreement over financial reporting, internal controls, operations, policies or practices. The Board appointed Michael Cochran interim Chief Financial Officer, effective October 10, 2026; he has served as Senior Vice President of Corporate Development since April 2026.

Under the separation agreement, Westblom will receive $1,137,204 in aggregate cash severance payments and her fiscal 2026 cash bonus based on the percentage authorized by the Compensation Committee. Outstanding equity awards will vest on an accelerated basis, with performance stock units remaining subject to applicable performance conditions; her stock options have an 18-month post-separation exercise period.

8-K Event Classification

Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers

1 item

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

Key Figures

Cash severance: $1,137,204 Post-separation option exercise period: 18 months Interim CFO age: 39 years +2 more

5 metrics

Cash severance $1,137,204 Aggregate payments to Blair Westblom under the separation agreement

Post-separation option exercise period 18 months Westblom's stock options

Interim CFO age 39 years Michael Cochran

Separation effective date October 10, 2026 Blair Westblom

Investment banking experience Nearly five years Michael Cochran in Morgan Stanley's Media & Communications Investment Banking group

Key Terms

accelerated vesting, performance stock units, post-separation exercise period, Separation Agreement

4 terms

accelerated vesting financial

"accelerated vesting of outstanding equity awards"

A contract feature that makes stock awards, options, or restricted shares become owned or exercisable earlier than the original schedule. It shortens or cancels the waiting period so recipients can sell, transfer, or exercise their equity sooner — think of a timed lock that is unlocked ahead of schedule. It matters to investors because it changes when shares enter the market, who controls them, and how much dilution or ownership concentration happens.

performance stock units financial

"performance stock units remaining subject to the applicable performance conditions"

Performance stock units are a type of company award that grants employees shares of stock only if certain performance goals are met. They motivate employees to work toward specific company achievements, aligning their interests with those of shareholders. For investors, they can influence a company's future stock supply and reflect management’s confidence in reaching key targets.

post-separation exercise period financial

"an 18-month post-separation exercise period for her stock options"

Separation Agreement financial

"entered into a separation and release agreement (the “Separation Agreement”)"

A separation agreement is a written contract that spells out the financial and legal terms when an employee and a company part ways, such as final pay, severance, continued benefits, confidentiality, and any release of claims. For investors, it matters because these agreements determine immediate costs, potential future liabilities, and whether departing staff are restricted from competing or disclosing information—factors that can affect a company’s cash flow, risk profile, and leadership continuity.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What severance and equity terms did PXED agree to for Blair Westblom?

Blair Westblom will receive $1,137,204 in aggregate cash severance payments and her fiscal 2026 cash bonus based on the percentage authorized by the Compensation Committee. Outstanding equity awards will vest on an accelerated basis, while performance stock units remain subject to applicable performance conditions; stock options have an 18-month post-separation exercise period.

Who is PXED's interim CFO?

PXED appointed Michael Cochran interim Chief Financial Officer, effective October 10, 2026. He has served as Senior Vice President of Corporate Development since April 2026 and previously spent nearly five years in Morgan Stanley's Media & Communications Investment Banking group. No compensation decisions were made in connection with his appointment.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/09/2026 - 04:13 PM Accepted by SEC EDGAR 10/09/2026 - 04:13 PM Learn about SEC filing dates

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 9, 2026

Phoenix Education Partners, Inc.

(Exact name of Registrant as specified in its charter)

Delaware		001-42899		38-3922540
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(I.R.S. Employer Identification No.)

4035 S. Riverpoint Parkway Phoenix, AZ		85040
(Address of principal executive offices)		(Zip Code)

(800) 990-2765

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.01 per share		PXED		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On October 9, 2026, following the completion of Phoenix Education Partners, Inc.’s (the “Company”) first full year as a public company after its successful IPO, the Company and Blair Westblom, Chief Financial Officer and Treasurer of the Company, agreed that Ms. Westblom will separate from the Company, effective as of October 10, 2026, to focus on personal endeavors and her next professional chapter. The Company thanks Ms. Westblom for her years of service to the Company. Ms. Westblom’s departure was not the result of any disagreement with the Company on any matter relating to the Company’s financial reporting, internal controls, operations, policies or practices.

On October 9, 2026, the Company’s Board of Directors (the “Board”) appointed Michael Cochran, age 39, as interim Chief Financial Officer, effective as of October 10, 2026. Mr. Cochran has served as the Company’s Senior Vice President of Corporate Development since April 2026. Prior to this role, Mr. Cochran spent nearly five years in Morgan Stanley's Media & Communications Investment Banking group, where he served as Executive Director from 2023 to 2026 and Vice President from 2021 to 2023. Before this, he held roles at Barclays, Bank of Tokyo-Mitsubishi and Union Bank. Mr. Cochran has an M.B.A. from Columbia Business School and a B.S. from University of Southern California. No compensation decisions have been made in connection with Mr. Cochran’s appointment as interim Chief Financial Officer. Once available, any material changes to compensation that are required to be disclosed will be reported in a Current Report on Form 8-K.

On October 9, 2026, the Company entered into a separation and release agreement (the “Separation Agreement”) with Ms. Westblom. Pursuant to the Separation Agreement, Ms. Westblom will receive (i) aggregate cash severance payments of $1,137,204, (ii) her fiscal 2026 cash bonus, based on the percentage authorized by the Company’s Compensation Committee for fiscal 2026, and (iii) accelerated vesting of outstanding equity awards (with her performance stock units remaining subject to the applicable performance conditions) and an 18-month post-separation exercise period for her stock options. The Company expects to file the Separation Agreement as an exhibit to its Annual Report on Form 10-K for the fiscal year ending August 31, 2026.

2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	PHOENIX EDUCATION PARTNERS, INC.
Date: October 9, 2026	By:	/s/ Srini Medi
		Name:	Srini Medi
		Title:	Chief Legal Officer and Secretary

3

Filing Exhibits & Attachments

3 documents

Other Documents

• EX-101 XBRL SCHEMA FILE 2.9 KB
• EX-101 XBRL LABEL FILE 33.4 KB
• EX-101 XBRL PRESENTATION FILE 21.8 KB