{"url_path":"/sec/educ/10-k/2026/item-15","section_key":"item-15","section_title":"Item 15 EXHIBITS AND FINANCIAL STATEMENT SCHEDULES","topic":"sec","document":{"doc_type":"10-K","doc_date":"2026-05-19","source_url":"https://www.sec.gov/Archives/edgar/data/31667/0001185185-26-001927-index.html","accession_number":"0001185185-26-001927","cik":"0000031667","ticker":"EDUC","issuer_name":"EDUCATIONAL DEVELOPMENT CORP","edgar_url":"https://www.sec.gov/Archives/edgar/data/31667/0001185185-26-001927-index.html","primary_entity_key":"0000031667","primary_entity_name":"EDUCATIONAL DEVELOPMENT CORP"},"word_count":1290,"has_tables":true,"body_markdown":"Item 15.  EXHIBITS AND FINANCIAL STATEMENT SCHEDULES\n\n \n\n(a) The following documents are filed as part of\nthis report:\n\n \n\n1. Financial Statements\n\n \n\n  Page\n\n   \n\n[Report of Independent Registered Public Accounting Firm (PCAOB ID 483)](#f_001) 24\n\n   \n\n[Balance Sheets as of February 28, 2026 and February 28, 2025](#f_002) 25\n\n   \n\n[Statements of Operations for the Years ended February 28, 2026 and February 28, 2025](#f_003) 26\n\n   \n\n[Statements of Comprehensive Income (Loss) for the Years ended February 28, 2026 and February 28, 2025](#f_004) 27\n\n   \n\n[Statements of Shareholders’ Equity for the Years ended February 28, 2026 and February 28, 2025](#f_005) 28\n\n   \n\n[Statements of Cash Flows for the Years ended February 28, 2026 and February 28, 2025](#f_006) 29\n\n   \n\n[Notes to Financial Statements](#f_007) 30-47\n\n \n\nSchedules have been omitted as such information\nis either not required or is included in the financial statements.\n\n \n\n2. Exhibits\n\n \n\n*3.1\n \nRestated Certificate of Incorporation dated April 26, 1968, and Certificate of Amendment thereto dated June 21, 1968 are incorporated herein by reference to Exhibit 1 to Registration Statement on Form 10-K (File No. 0-04957).\n\n \n \n \n\n*3.2\n \nCertificate of Amendment of Restated Certificate of Incorporation dated August 27, 1977 is incorporated herein by reference to Exhibit 20.1 to Form 10-K for fiscal year ended February 28, 1981 (File No. 0-04957).\n\n \n \n \n\n*3.3\n \nBy-Laws, as amended, are incorporated herein by reference to Exhibit 20.2. to Form 10-K for fiscal year ended February 28, 1981 (File No. 0-04957).\n\n \n \n \n\n*3.4\n \nCertificate of Amendment of Restated Certificate of Incorporation dated November 17, 1986 is incorporated herein by reference to Exhibit 3.3 to Form 10-K for fiscal year ended February 28, 1987 (File No. 0-04957).\n\n \n \n \n\n3.5\n \n[Certificate of Amendment of Restated Certificate of Incorporation dated March 22, 1996 is incorporated herein by reference to Exhibit 3.4 to Form 10-K for fiscal year ended February 28, 1997 (File No. 0-04957).](http://www.sec.gov/Archives/edgar/data/31667/0000930661-97-001421.txt)\n\n \n \n \n\n3.6\n \n[Certificate of Amendment of Restated Certificate of Incorporation dated July 15, 2002 is incorporated herein by reference to Exhibit 10.30 to Form 10-K dated February 28, 2003 (File No. 0-04957).](http://www.sec.gov/Archives/edgar/data/31667/000095013403007549/d05616exv10w30.txt)\n\n \n \n \n\n3.7\n \n[Certificate of Amendment of Restated Certificate of Incorporation dated August 15, 2018 is incorporated herein by reference to Exhibit 3.1 to Form 8-K dated August 21, 2018 (File No. 0-04957).](http://www.sec.gov/Archives/edgar/data/31667/000118518518001538/ex_122323.htm)\n\n \n \n \n\n*4.1\n \nSpecimens of Common Stock Certificates are incorporated herein by reference to Exhibits 3.1 and 3.2 to Registration Statement on Form 10-K (File No. 0-04957) filed June 29, 1970.\n\n \n\n20\n\n[Table of Contents](#TableOfContents)\n\n \n\n*10.1\n \nUsborne Agreement-Contractual agreement by and between the Company and Usborne Publishing Limited dated November 25, 1988 is incorporated herein by reference to Exhibit 10.12 to Form 10-K dated February 28, 1989 (File No. 0-04957).\n\n \n \n \n\n*10.2\n \nParty Plan-Contractual agreement by and between the Company and Usborne Publishing Limited dated March 14, 1989 is incorporated herein by reference to Exhibit 10.13 to Form 10-K dated February 28, 1989 (File No. 0-04957).\n\n \n \n \n\n*10.3\n \nAmendment dated January 1, 1992 to Usborne Agreement - Contractual agreement by and between the Company and Usborne Publishing Limited is incorporated herein by reference to Exhibit 10.13 to Form 10-K dated February 29, 1992 (File No. 0-04957).\n\n \n \n \n\n10.4\n \n[Educational Development Corporation 2002 Incentive Stock Option Plan is incorporated herein by reference to Exhibit A to definitive proxy statement on Schedule 14A dated May 23, 2002 (File No. 0-04957).](http://www.sec.gov/Archives/edgar/data/31667/000095013402006085/d96508ddef14a.txt)\n\n \n \n \n\n10.5\n \n[Amendment dated November 12, 2002 to Usborne Agreement – Contractual agreement by and between us and Usborne Publishing Limited is incorporated herein by reference to Exhibit 10.32 to Form 10-K dated February 28, 2003 (File No. 0-04957).](http://www.sec.gov/Archives/edgar/data/31667/000095013403007549/d05616exv10w32.txt)\n\n \n \n \n\n10.6\n \n[Employment Agreement between Randall W. White and the Company dated February 28, 2004 incorporated herein by reference to Exhibit 10.8 to Form 10-K dated February 28, 2005 (File No. 0-04957).](http://www.sec.gov/Archives/edgar/data/31667/000095013405011792/d26157exv10w8.htm)\n\n \n \n \n\n10.7\n \n[Purchase and Sale Agreement dated December 1, 2015 by and between the Company and Hilti, Inc., Tulsa, OK incorporated herein by reference to Exhibit 10.8 to Form 10-K dated February 28, 2019 (File No. 0-04957).](http://www.sec.gov/Archives/edgar/data/31667/000118518519000818/ex_145892.htm)\n\n \n \n \n\n10.8\n \n[Lease Agreement dated December 1, 2015 by and between the Company and Hilti, Inc., Tulsa, OK incorporated herein by reference to Exhibit 10.9 to Form 10-K dated February 28, 2019 (File No. 0-04957).](http://www.sec.gov/Archives/edgar/data/31667/000118518519000818/ex_145893.htm)\n\n \n \n \n\n10.9\n \n[Usborne Distribution Agreement dated May 16, 2022 by and between the Company and Usborne Publishing Limited, London, England is incorporated herein by reference to Exhibit 10.2 to form 10-Q dated May 31, 2022 (File No. 0-04957).](http://www.sec.gov/Archives/edgar/data/31667/000118518522000805/ex_392014.htm)\n\n \n \n \n\n10.10\n \n[Credit Agreement dated August 9, 2022 by and between the Company and BOKF, NA, Tulsa, OK is incorporated herein by reference to Exhibit 10.01 to form 8-K dated August 11, 2022 (File No. 0-04957).](http://www.sec.gov/Archives/edgar/data/31667/000118518522000903/ex_411132.htm)\n\n \n \n \n\n10.11\n \n[First Amendment to Credit Agreement, dated December 22, 2022 by and between the Company and BOKF, NA, Tulsa, OK. Is incorporated herein by reference to Exhibit 10.4 to Form 10-Q dated November 30, 2022 (File No. 0-04957).](http://www.sec.gov/Archives/edgar/data/31667/000118518523000013/ex_461219.htm)\n\n \n \n \n\n10.12\n \n[Second Amendment to Credit Agreement, dated May 10, 2023 by and between the Company and BOKF, NA, Tulsa, OK is incorporated herein by reference to Exhibit 10.18 to Form 10-K dated February 28, 2023 (File No. 0-04957).](http://www.sec.gov/Archives/edgar/data/31667/000118518523000539/ex_520263.htm)\n\n \n \n \n\n10.13\n \n[Third Amendment to Credit Agreement, dated August 9, 2023 by and between the Company and BOKF, NA, Tulsa, OK is incorporated herein by reference to Exhibit 10.01 to Form 8-K dated August 17, 2023 (File No. 0-04957).](http://www.sec.gov/Archives/edgar/data/31667/000118518523000856/ex_561608.htm)\n\n \n \n \n\n10.14\n \n[Fourth Amendment to Credit Agreement, dated December 1, 2023 by and between the Company and BOKF, NA, Tulsa, OK is incorporated herein by reference to Exhibit 10.01 to Form 8-K dated December 28, 2023 (File No. 0-04957)..](http://www.sec.gov/Archives/edgar/data/31667/000118518523001357/ex_610619.htm)\n\n \n \n \n\n10.15\n \n[Fifth Amendment to Credit Agreement, effective May 31, 2024 by and between the Company and BOKF, NA, Tulsa, OK is incorporated herein by reference to Exhibit 10.01 to Form 8-K dated June 17, 2024 (File No. 0-04957).](http://www.sec.gov/Archives/edgar/data/31667/000118518524000636/ex_689514.htm)\n\n \n\n21\n\n[Table of Contents](#TableOfContents)\n\n \n\n10.16\n \n[Sixth Amendment to Credit Agreement, effective October 3, 2024 by and between the Company and BOKF, NA, Tulsa, OK is incorporated herein by reference to Exhibit 10.01 to Form 8-K dated October 7, 2024 (File No. 0-04957).](http://www.sec.gov/Archives/edgar/data/31667/000118518524000959/ex_730497.htm)\n\n \n \n \n\n10.17\n \n[Seventh Amendment to Credit Agreement, effective January 4, 2025 by and between the Company and BOKF, NA, Tulsa, OK is incorporated herein by reference to Exhibit 10.09 to Form 10-Q dated November 30, 2024 (File No. 0-04957).](http://www.sec.gov/Archives/edgar/data/31667/000118518525000023/ex_765055.htm)\n\n \n \n \n\n10.18\n \n[Eighth Amendment to Credit Agreement, effective April 4, 2025 by and between the Company and BOKF, NA, Tulsa, OK is incorporated herein by reference to Exhibit 10.01 to Form 8-K dated April 17, 2025 (File No. 0-04957).](http://www.sec.gov/Archives/edgar/data/31667/000118518525000311/educex10-01.htm)\n\n \n \n \n\n10.19\n \n[Ninth Amendment to Credit Agreement, effective July 11, 2025 by and between the Company and BOKF, NA, Tulsa, OK is incorporated herein by reference to Exhibit 10.01 to Form 8-K dated August 12, 2025 (File No. 0-04957).](https://www.sec.gov/Archives/edgar/data/31667/000118518525000946/educex10-01.htm)\n\n \n \n \n\n10.20\n \n[Notice of Default and Reservation of Rights, dated September 30, 2025, from BOKF, NA, Tulsa, OK is incorporated herein by reference to Exhibit 10.20 to Form 10-Q dated August 31, 2025 (File No. 0-04957).](http://www.sec.gov/Archives/edgar/data/31667/000118518525001415/educex10-20.htm)\n\n \n \n \n\n**23.1\n \n[Consent of Independent Registered Public Accounting Firm.](educex23-1.htm)\n\n \n \n \n\n**31.1\n \n[Certification of the Chief Executive Officer of Educational Development Corporation pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.](educex31-1.htm)\n\n \n \n \n\n**31.2\n \n[Certification of the Chief Financial Officer and Corporate Secretary (Principal Financial and Accounting Officer) of Educational Development Corporation pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.](educex31-2.htm)\n\n \n \n \n\n**32.1\n \n[Certification pursuant to 18 U.S.C Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.](educex32-1.htm)\n\n \n \n \n\n***97.1\n \n[Educational Development Corporation’s Clawback Policy is incorporated herein by reference to Exhibit 97.1 to Form 10-K dated May 21, 2024 (File No. 0-04957).](http://www.sec.gov/Archives/edgar/data/31667/000118518524000577/ex_677097.htm)\n\n \n \n \n\n101.INS\n \nInline XBRL Instance Document\n\n \n \n \n\n101.SCH\n \nInline XBRL Taxonomy Extension Schema\n\n \n \n \n\n101.CAL\n \nInline XBRL Taxonomy Extension Calculation Linkbase\n\n \n \n \n\n101.DEF\n \nInline XBRL Taxonomy Extension Definition Linkbase\n\n \n \n \n\n101.LAB\n \nInline XBRL Taxonomy Extension Label Linkbase\n\n \n \n \n\n101.PRE\n \nInline XBRL Taxonomy Extension Presentation Linkbase\n\n \n \n \n\n104\n \nCover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)\n\n \n\n*\nPaper Filed\n\n \n\n**\nFiled Herewith\n\n \n\n*** \nManagement Contract or compensatory plan or arrangement"}