CHEGG, INC 8-K

What Happened

• Chegg, Inc. filed a Form 8-K (Item 5.02) on March 31, 2026 announcing a Board rebalance. On March 25, 2026 director Renee Budig resigned from Class I and was immediately re-elected to serve as a Class III director so the Board’s classes are as equal as reasonably possible.
• The change was effected solely to achieve the rebalance; Budig’s service is treated as uninterrupted. She will stand for election at the 2026 Annual Meeting (scheduled June 12, 2026) as a Class III director for a term expiring at the 2028 Annual Meeting.

Key Details

• Date of change: March 25, 2026; 8-K filed March 31, 2026.
• Director involved: Renee Budig; moved from Class I (term would have expired at 2026 Annual Meeting) to Class III (term expiring at 2028 Annual Meeting).
• Board composition after rebalance: two Class I directors, one Class II director, two Class III directors.
• Purpose: administrative rebalance of director classes; Budig’s board service is considered continuous and she will be on the ballot at the 2026 Annual Meeting.

Why It Matters

• This is a governance change, not a change to Chegg’s management or operations. It affects how director elections are staggered and ensures shareholders will have the chance to vote on Budig within a three‑year cycle.
• For investors, the item is material to corporate governance and proxy/voting considerations but does not signal a financial or strategic shift in the company.