For students entering Grade 9 in the 2014-15 school year and later, Texas modified its public high school graduation requirements by enacting House Bill 5 (HB 5) during the 83rd Texas Legislature. These changes provided students with greater flexibility in the courses required for graduation (including eliminating Algebra II as a required course) and the opportunity to focus on postsecondary opportunities and career paths by completing an endorsement. This descriptive study used state longitudinal administrative data to examine the graduation pathways of the first three Grade 9 cohorts who entered high school under the new Foundation High School Program (2014-15, 2015-16, and 2016-17). Results indicate that more than 80% of graduates earned the distinguished level of achievement, which included the completion of Algebra II. Student inequities persisted under the Foundation High School Program. Gaps across student groups continued in the types of courses that students completed. The percentage of graduates who earned the distinguished level of achievement, driven by Algebra II completion, was lower for Black and Hispanic students than for White and Asian students. Race/ethnicity and special student population gaps remained in the percentage of graduates taking Algebra II before and after the change in graduation requirements. Although critics feared making Algebra II optional would reduce the number of students taking Algebra II, Algebra II completion rates continued to increase after the policy. Excluding Multidisciplinary Studies, Business and Industry and Arts and Humanities had the largest percentage of graduates completing the endorsements and remained fairly consistent across the first three cohorts. Fewer students earned STEM and Public Services endorsements.