RENT-A-CENTER, INC. (NASDAQ:RCII) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On December 6, 2017, the Board of Directors of Rent-A-Center, Inc. (“Rent-A-Center” or the “Company”) appointed J.V. Lentell as Chairman of the Board of Directors.

Mr. Lentell joined the Rent-A-Center Board in 1995. During his service on the Rent-A-Center Board, including as Lead Director from April 2009 until January 2014, Mr. Lentell has demonstrated clear and effective leadership to the Board and the Company’s management. Mr. Lentell’s service on the Board’s committees during his tenure provides him with a deep understanding of the Company and its growth, which the Company believes contributes a useful frame of reference in the context of Board deliberations. In addition to Mr. Lentell’s 50-plus years of experience in the banking industry, which has been useful to the Company when evaluating its capital needs, his experience as a board member of various private companies and civic and charitable organizations, including service on the audit, finance, compensation and governance committees of such organizations (in some cases as the chairman), provides the Board and its committees with significant insight into compensation, governance and risk management matters.

Since July 1993, Mr. Lentell has served as a director and Vice Chairman of the Board of Directors of Intrust Bank, N.A., successor by merger to Kansas State Bank & Trust Co. Mr. Lentell was employed by Kansas State Bank & Trust Co., in Wichita, Kansas from 1966 until July 1993, serving as Chairman of the Board from 1981 until July 1993.

Mr. Lentell will be entitled to receive compensation for his service as Chairman of the Board in an amount consistent with the compensation paid to non-employee directors of the Company, as described in the Company’s Proxy Statement for the 2017 Annual Meeting of Stockholders, plus an additional cash retainer in the amount of $80,000 per year.

About RENT-A-CENTER, INC. (NASDAQ:RCII)

Rent-A-Center, Inc. is a rent-to-own operator in North America. The Company provides an opportunity to obtain ownership of products, such as consumer electronics, appliances, computers (including tablets), smartphones and furniture (including accessories), under rental purchase agreements. The Company operates in four segments: Core U.S., Acceptance Now, Mexico and Franchising. Its Core U.S. and Mexico stores generally offer merchandise from over five basic product categories: consumer electronics, appliances, computers (including tablets), smartphones and furniture (including accessories). The Acceptance Now segment provides an on-site rent-to-own option at a third-party retailer’s location. Its Franchising segment engages in the sale of rental merchandise to its franchisees who, in turn, offer the merchandise to the general public for rent or purchase under a rent-to-own transaction. It offers brands, such as LG, Frigidaire, Acer, Apple, Asus, Samsung, Ashley, Powell and Standard.