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STATES\n\nSECURITIES AND EXCHANGE COMMISSION\n\nWashington, DC 20549\n\nFORM 10-K\n\n(Mark One)\n\nxANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the fiscal year ended: April 30, 2026\n\nOR\n\noTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the transition period from _________ to _________\n\nCommission file number 001-11507\n\nJOHN WILEY & SONS, INC.\n\n(Exact name of Registrant as specified in its charter)\n\nNew York13-5593032\n\nState or other jurisdiction of incorporation or organizationI.R.S. Employer Identification No.\n\n111 River Street, Hoboken, New Jersey\n\n07030\n\nAddress of principal executive officesZip Code\n\n(201) 748-6000\n\nRegistrant’s telephone number including area code\n\nSecurities registered pursuant to Section 12(b) of the Act:\nTitle of each classTrading SymbolName of each exchange on which registered\n\nClass A Common Stock, par value $1.00 per shareWLYNew York Stock Exchange\n\nClass B Common Stock, par value $1.00 per shareWLYBNew York Stock Exchange\n\nSecurities registered pursuant to Section 12(g) of the Act:\n\nNone\n\nIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.  Yes x  No o\n\nIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.\n\nYes o  No x\n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No o\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).  Yes x  No o\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\nLarge accelerated filer x\n\nAccelerated filer o\n\nNon-accelerated filer o\n\nSmaller reporting company o\n\nEmerging growth company o\n\nIf 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. o\n\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. x\n\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. o\n\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). o\n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).  Yes o  No x\n\nThe aggregate market value of the voting stock held by non-affiliates of the registrant, computed by reference to the closing price as of the last business day of the registrant’s most recently completed second fiscal quarter, October 31, 2025, was approximately $1,498 million. The registrant has no non-voting common stock.\n\nThe number of shares outstanding of the registrant’s Class A and Class B Common Stock as of May 31, 2026 was 42,001,047 and 8,759,308 respectively.\n\nDOCUMENTS INCORPORATED BY REFERENCE\n\nPortions of the registrant’s definitive proxy statement for use in connection with its annual meeting of stockholders scheduled to be held on September 24, 2026, are incorporated by reference into Part III of this Annual Report on Form 10-K.\n\n[Index](#i4999d179a1ee4db3afe68151d34a8db6_7)\n\nJOHN WILEY & SONS, INC. AND SUBSIDIARIES\n\nFORM 10-K\n\nFOR THE FISCAL YEAR ENDED APRIL 30, 2026\n\nINDEX\n\n[PART I](#i4999d179a1ee4db3afe68151d34a8db6_13)\nPAGE\n\n[ITEM 1.](#i4999d179a1ee4db3afe68151d34a8db6_16)\n\n[Business](#i4999d179a1ee4db3afe68151d34a8db6_16)\n\n[5](#i4999d179a1ee4db3afe68151d34a8db6_16)\n\n[ITEM 1A.](#i4999d179a1ee4db3afe68151d34a8db6_22)\n\n[Risk Factors](#i4999d179a1ee4db3afe68151d34a8db6_22)\n\n[13](#i4999d179a1ee4db3afe68151d34a8db6_22)\n\n[ITEM 1B.](#i4999d179a1ee4db3afe68151d34a8db6_25)\n\n[Unresolved Staff Comments](#i4999d179a1ee4db3afe68151d34a8db6_25)\n\n[23](#i4999d179a1ee4db3afe68151d34a8db6_25)\n\n[ITEM 1C.](#ib031fc37a77d48668f901fa65eb2283b_5366)\n\nCybersecurity\n\n[23](#i4999d179a1ee4db3afe68151d34a8db6_25)\n\n[ITEM 2.](#i4999d179a1ee4db3afe68151d34a8db6_31)\n\n[Properties](#i4999d179a1ee4db3afe68151d34a8db6_31)\n\n[25](#i4999d179a1ee4db3afe68151d34a8db6_31)\n\n[ITEM 3.](#i4999d179a1ee4db3afe68151d34a8db6_34)\n\n[Legal Proceedings](#i4999d179a1ee4db3afe68151d34a8db6_34)\n\n[25](#i4999d179a1ee4db3afe68151d34a8db6_34)\n\n[ITEM 4.](#i4999d179a1ee4db3afe68151d34a8db6_37)\n\n[Mine Safety Disclosures](#i4999d179a1ee4db3afe68151d34a8db6_37)\n\n[25](#i4999d179a1ee4db3afe68151d34a8db6_37)\n\n[PART II](#i4999d179a1ee4db3afe68151d34a8db6_40)\n\n[ITEM 5.](#i4999d179a1ee4db3afe68151d34a8db6_43)\n\n[Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](#i4999d179a1ee4db3afe68151d34a8db6_43)\n\n[26](#i4999d179a1ee4db3afe68151d34a8db6_43)\n\n[ITEM 6.](#i4999d179a1ee4db3afe68151d34a8db6_46)\n\n[[Reserved]](#i4999d179a1ee4db3afe68151d34a8db6_46)\n\n[27](#i4999d179a1ee4db3afe68151d34a8db6_46)\n\n[ITEM 7.](#i4999d179a1ee4db3afe68151d34a8db6_49)\n\n[Management’s Discussion and Analysis of Financial Condition and Results of Operations](#i4999d179a1ee4db3afe68151d34a8db6_49)\n\n[28](#i4999d179a1ee4db3afe68151d34a8db6_49)\n\n[ITEM 7A.](#i4999d179a1ee4db3afe68151d34a8db6_73)\n\n[Quantitative and Qualitative Disclosures About Market Risk](#i4999d179a1ee4db3afe68151d34a8db6_73)\n\n[48](#i4999d179a1ee4db3afe68151d34a8db6_73)\n\n[ITEM 8.](#i4999d179a1ee4db3afe68151d34a8db6_76)\n\n[Financial Statements and Supplementary Data](#i4999d179a1ee4db3afe68151d34a8db6_76)\n\n[49](#i4999d179a1ee4db3afe68151d34a8db6_76)\n\n[ITEM 9.](#i4999d179a1ee4db3afe68151d34a8db6_169)\n\n[Changes in and Disagreements with Accountants on Accounting and Financial Disclosure](#i4999d179a1ee4db3afe68151d34a8db6_169)\n\n[105](#i4999d179a1ee4db3afe68151d34a8db6_169)\n\n[ITEM 9A.](#i4999d179a1ee4db3afe68151d34a8db6_172)\n\n[Controls and Procedures](#i4999d179a1ee4db3afe68151d34a8db6_172)\n\n[105](#i4999d179a1ee4db3afe68151d34a8db6_172)\n\n[ITEM 9B.](#i4999d179a1ee4db3afe68151d34a8db6_175)\n\n[Other Information](#i4999d179a1ee4db3afe68151d34a8db6_175)\n\n[105](#i4999d179a1ee4db3afe68151d34a8db6_175)\n\n[ITEM 9C.](#i4999d179a1ee4db3afe68151d34a8db6_178)\n\n[Disclosure Regarding Foreign Jurisdictions that Prevent Inspections](#i4999d179a1ee4db3afe68151d34a8db6_178)\n\n[105](#i4999d179a1ee4db3afe68151d34a8db6_178)\n\n[PART III](#i4999d179a1ee4db3afe68151d34a8db6_181)\n\n[ITEM 10.](#i4999d179a1ee4db3afe68151d34a8db6_184)\n\n[Directors, Executive Officers and Corporate Governance](#i4999d179a1ee4db3afe68151d34a8db6_184)\n\n[106](#i4999d179a1ee4db3afe68151d34a8db6_184)\n\n[ITEM 11.](#i4999d179a1ee4db3afe68151d34a8db6_187)\n\n[Executive Compensation](#i4999d179a1ee4db3afe68151d34a8db6_187)\n\n[110](#i4999d179a1ee4db3afe68151d34a8db6_187)\n\n[ITEM 12.](#i4999d179a1ee4db3afe68151d34a8db6_190)\n\n[Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](#i4999d179a1ee4db3afe68151d34a8db6_190)\n\n[110](#i4999d179a1ee4db3afe68151d34a8db6_190)\n\n[ITEM 13.](#i4999d179a1ee4db3afe68151d34a8db6_193)\n\n[Certain Relationships and Related Transactions, and Director Independence](#i4999d179a1ee4db3afe68151d34a8db6_193)\n\n[111](#i4999d179a1ee4db3afe68151d34a8db6_193)\n\n[ITEM 14.](#i4999d179a1ee4db3afe68151d34a8db6_196)\n\n[Principal Accountant Fees and Services](#i4999d179a1ee4db3afe68151d34a8db6_196)\n\n[111](#i4999d179a1ee4db3afe68151d34a8db6_196)\n\n[PART IV](#i4999d179a1ee4db3afe68151d34a8db6_199)\n\n[ITEM 15.](#i4999d179a1ee4db3afe68151d34a8db6_202)\n\n[Exhibits and Financial Statement Schedules](#i4999d179a1ee4db3afe68151d34a8db6_202)\n\n[111](#i4999d179a1ee4db3afe68151d34a8db6_202)\n\n[ITEM 16.](#i4999d179a1ee4db3afe68151d34a8db6_205)\n\n[Form 10-K Summary](#i4999d179a1ee4db3afe68151d34a8db6_205)\n\n[116](#i4999d179a1ee4db3afe68151d34a8db6_205)\n\n[SIGNATURES](#i4999d179a1ee4db3afe68151d34a8db6_211)\n\n[117](#i4999d179a1ee4db3afe68151d34a8db6_211)\n\n2\n\n[Index](#i4999d179a1ee4db3afe68151d34a8db6_7)\n\nCautionary Notice Regarding Forward-Looking Statements “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995:\n\nThis report contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 concerning our business, consolidated financial condition, and results of operations. The Securities and Exchange Commission (SEC) encourages companies to disclose forward-looking information so that investors can better understand a company’s prospects and make informed investment decisions. Forward-looking statements are subject to risks and uncertainties, many of which are outside our control, which could cause actual results to differ materially from these statements. Therefore, you should not rely on any of these forward-looking statements. Forward-looking statements can be identified by such words as “anticipates,” “believes,” “plan,” “assumes,” “could,” “should,” “estimates,” “expects,” “intends,” “potential,” “seek,” “predict,” “may,” “will,” and similar references to future periods. All statements other than statements of historical facts included in this report regarding our strategies, prospects, financial condition, operations, costs, plans, and objectives are forward-looking statements. Examples of forward-looking statements include, among others, anticipated restructuring charges and savings, operations, performance, and financial condition. Reliance should not be placed on forward-looking statements, as actual results may differ materially from those described in any forward-looking statements. Any such forward-looking statements are based upon many assumptions and estimates that are inherently subject to uncertainties and contingencies, many of which are beyond our control, and are subject to change based on many important factors. Such factors include, but are not limited to (i) the level of investment by Wiley in new technologies and products; (ii) subscriber renewal rates for our journals; (iii) the financial stability and liquidity of journal subscription agents; (iv) the consolidation of book wholesalers and retail accounts; (v) the market position and financial stability of key retailers; (vi) the seasonal nature of our educational business and the impact of the used book market; (vii) worldwide economic and political conditions; (viii) our ability to protect our copyrights and other intellectual property worldwide; (ix) our ability to successfully integrate acquired operations and realize expected synergies and opportunities; (x) the ability to realize operating savings over time and in fiscal year 2027 in connection with our multiyear Global Restructuring Program and completed dispositions; (xi) cyber risk and the failure to maintain the integrity of our operational or security systems or infrastructure, or those of third parties with which we do business; (xii) as a result of acquisitions, we have and may record a significant amount of goodwill and other identifiable intangible assets and we may never realize the full carrying value of these assets; (xiii) our ability to leverage artificial intelligence technologies in our products and services, including generative artificial intelligence, large language models, machine learning, and other artificial intelligence tools; and (xiv) other factors detailed from time to time in our filings with the SEC. We undertake no obligation to update or revise any such forward-looking statements to reflect subsequent events or circumstances.\n\nPlease refer to Part I, Item 1A, “Risk Factors,” of our Annual Report on Form 10-K for important factors that we believe could cause actual results to differ materially from those in our forward-looking statements. Any forward-looking statement made by us in this report is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.\n\nNon-GAAP Financial Measures:\n\nWe present financial information that conforms to Generally Accepted Accounting Principles in the United States of America (US GAAP). We also present financial information that does not conform to US GAAP, which we refer to as non-GAAP.\n\nIn this report, we may present the following non-GAAP performance measures:\n\n•Adjusted Earnings Per Share (Adjusted EPS);\n\n•Free Cash Flow less Product Development Spending;\n\n•Adjusted Revenue;\n\n•Adjusted Operating Income and margin;\n\n•Adjusted Income Before Taxes;\n\n•Adjusted Income Tax Provision;\n\n•Adjusted Effective Tax Rate;\n\n•EBITDA (earnings before interest, taxes, depreciation and amortization), Adjusted EBITDA and margin; and\n\n•Results on a constant currency basis.\n\n3\n\n[Index](#i4999d179a1ee4db3afe68151d34a8db6_7)\n\nManagement uses these non-GAAP performance measures as supplemental indicators of our operating performance and financial position as well as for internal reporting and forecasting purposes, when publicly providing our outlook, to evaluate our performance and calculate incentive compensation. We present these non-GAAP performance measures in addition to US GAAP financial results because we believe that these non-GAAP performance measures provide useful information to certain investors and financial analysts for operational trends and comparisons over time. The use of these non-GAAP performance measures may also provide a consistent basis to evaluate operating profitability and performance trends by excluding items that we do not consider to be controllable activities for this purpose.\n\nThe performance metric used by our chief operating decision maker to evaluate performance of our reportable segments is Adjusted Operating Income. We present both Adjusted Operating Income and Adjusted EBITDA for each of our reportable segments as we believe Adjusted EBITDA provides additional useful information to certain investors and financial analysts for operational trends and comparisons over time. It removes the impact of depreciation and amortization expense, as well as presents a consistent basis to evaluate operating profitability and compare our financial performance to that of our peer companies and competitors.\n\nFor example:\n\n•Adjusted EPS, Adjusted Revenue, Adjusted Operating Income and margin, Adjusted Income Before Taxes, Adjusted Income Tax Provision, Adjusted Effective Tax Rate, EBITDA, and Adjusted EBITDA and margin provide a more comparable basis to analyze operating results and earnings and are measures commonly used by shareholders to measure our performance.\n\n•Free Cash Flow less Product Development Spending helps assess our ability, over the long term, to create value for our shareholders as it represents cash available to repay debt, pay common stock dividends, and fund share repurchases and acquisitions.\n\n•Results on a constant currency basis remove distortion from the effects of foreign currency movements to provide better comparability of our business trends from period to period. We measure our performance excluding the impact of foreign currency (or at constant currency), which means that we apply the same foreign currency exchange rates for the current and equivalent prior period.\n\nIn addition, we have historically provided these or similar non-GAAP performance measures and understand that some investors and financial analysts find this information helpful in analyzing our operating margins and net income, and in comparing our financial performance to that of our peer companies and competitors. Based on interactions with investors, we also believe that our non-GAAP performance measures are regarded as useful to our investors as supplemental to our US GAAP financial results, and that there is no confusion regarding the adjustments or our operating performance to our investors due to the comprehensive nature of our disclosures.\n\nNon-GAAP performance measures do not have standardized meanings prescribed by US GAAP and therefore may not be comparable to the calculation of similar measures used by other companies and should not be viewed as alternatives to measures of financial results under US GAAP. The adjusted metrics have limitations as analytical tools, and should not be considered in isolation from, or as a substitute for, US GAAP information. It does not purport to represent any similarly titled US GAAP information and is not an indicator of our performance under US GAAP. Non-GAAP financial metrics that we present may not be comparable with similarly titled measures used by others. Investors are cautioned against placing undue reliance on these non-GAAP measures.\n\n4\n\n[Index](#i4999d179a1ee4db3afe68151d34a8db6_7)\n\nPART I"}