ENOVA INTERNATIONAL, INC. (NYSE:ENVA) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersITEM 5.02DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS
(e)On September 12, 2017, the Management Development and Compensation Committee of the Board of Directors of Enova International, Inc. (the “Company”) approved amended forms of executive change-in-control severance and restrictive covenant agreements for the Company’s chief executive officer and for other executive officers.The amended form agreements clarify that earned but unpaid bonuses after a fiscal year end qualify for change-in-control severance compensation.The amended form agreements also clarify the requirement for a release to be executed by the executive officer to receive change-in-control severance compensation.
The foregoing description of the amended forms of executive change-in-control severance and restrictive covenant agreements does not purport to be complete and is qualified in its entirety by reference to such forms, which are filed as Exhibit 10.1 and Exhibit 10.2, respectively, to this Form 8-K and are incorporated herein by reference.
ITEM 8.01OTHER EVENTS
On September 15, 2017, the Company announced that its Board of Directors had authorized a share repurchase program for up to $25 million of the Company’s outstanding common stock.Repurchases will be made in accordance with applicable securities laws from time to time in the open market, through privately negotiated transactions or otherwise.The share repurchase program does not obligate the Company to purchase any shares of its common stock. The authorization for the share repurchase program may be terminated, increased or decreased by the Company’s Board of Directors in its discretion at any time. A copy of the press release is attached hereto as Exhibit 99.1.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d)Exhibits
The following exhibits are furnished as part of this Report on Form 8-K:
Enova International, Inc. ExhibitEX-10.1 2 enva-ex101_8.htm EX-10.1 enva-ex101_8.htm Exhibit 10.1 Enova International,…To view the full exhibit click here
About ENOVA INTERNATIONAL, INC. (NYSE:ENVA)
Enova International, Inc (Enova) is a provider of online financial services to non-prime consumers and small businesses, providing access to credit powered by its advanced analytics, technology, and online platform and services. Enova has provided over four million customers around the globe access to more than $17 billion in loans and financing. The financial technology company has a portfolio of trusted brands serving consumers, including CashNetUSA, DollarsDirect, NetCredit, On Stride Financial, Pounds to Pocket, QuickQuid and Simplic; two brands serving small businesses, Headway Capital and The Business Backer, and offers online lending platform services to lenders. Through its Enova Decisions brand, it also delivers on-demand decision-making technology and real-time predictive analytics services to clients.