Investigators said a key witness identified the principal as the gunman who fled the scene on the back of a motorcycle.
The victim, Maria Elaine Valencia, and her unborn child were killed the evening of 8 May.
Valencia, who was seven months pregnant, was riding a motorcycle driven by her husband toward the Bangued bus terminal when two men on another motorcycle opened fire on them. Valencia was rushed to a nearby hospital, where she died from her injuries.
Investigators said the motive for the attack was personal resentment and the suspect’s fear of criminal prosecution.
Police reported that Valencia had recently discovered her 15-year-old daughter was involved in a relationship with the principal that allegedly began when the girl was 12.
Valencia was preparing to file statutory rape or child abuse charges against the principal before the shooting, according to police.
The driver of the getaway motorcycle remains unidentified and at large, and police have not yet recovered the firearm used in the crime.
Valencia was a resident of Barangay Pawa in Lagangilang and worked as a teacher at a school in Taguig City, Metro Manila.
The investigation is ongoing as authorities search for the second suspect and gather additional evidence.