Principal shared meat out (10)
I believe the answer is:
headmaster
'principal' is the definition.
(headmaster is a kind of principal)
'shared meat out' is the wordplay.
'out' is an anagram indicator (out can mean wrong or inaccurate).
'shared'+'meat'='sharedmeat'
'sharedmeat' anagrammed gives 'HEADMASTER'.
(Other definitions for headmaster that I've seen before include "School manager" , "Principal" , "Top (male) teacher" .)