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 Principal Officers; Election
of Directors; Appointment of Principal Officers; Compensatory
Arrangements of Certain Officers.
– Finance, Chief Financial Officer and Treasurer of
Rent-A-Center, Inc. (the Company) effective as of December 2,
2016. Mr. Constant was a named executive officer of the Company
for the fiscal year ending December 31, 2015. Mr. Constants
resignation is a termination without cause to Section 3(a) of the
executive transition agreement between Mr. Constant and the
Company. Accordingly, Mr. Constant is entitled to certain
payments and benefits including:
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unpaid but earned base salary through December 2, 2016;
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a pro rata bonus calculated based upon Mr. Constants bonus,
if any, for the year ended December 31, 2016; and |
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one and one half times the sum of Mr. Constants highest
annual rate of salary during the previous 24 months. |
is a party is filed as Exhibit 10.24 to the Companys Quarterly
Report on Form 10-Q for the quarter ended September 30, 2013.
years with certain post-employment covenants, including
non-compete and confidentiality obligations, to the loyalty and
confidentiality agreement between Mr. Constant and the Company.
The form of loyalty and confidentiality agreement to which Mr.
Constant is a party is filed as Exhibit 10.14 to the Companys
Quarterly Report on Form 10-Q for the quarter ended September 30,
2013.
Finance, Investor Relations and Treasury, will serve as Interim
Chief Financial Officer, effectively immediately. Ms. Short, 41,
has served as the Companys Senior Vice President – Finance,
Investor Relations and Treasury since November 2014, Senior Vice
President – Finance, Analytics and Reporting from March 2013 to
November 2014, and Vice President – Finance and Analytics from
August 2010 to March 2013. Ms. Short joined the Company in 2008
as Director of Financial Planning Analysis. Prior to joining the
Company, Ms. Short spent five years with Blockbuster, Inc. in
Strategic Planning and Finance. Earlier in her career, she held
corporate-finance positions with Sprint and Vartec Telecom. She
earned an MBA in Finance and Marketing from the University of
Florida and a Bachelor of Business Administration from the
University of Kansas.
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. RENT-A-CENTER, INC. (NASDAQ:RCII) Recent Trading Information
RENT-A-CENTER, INC. (NASDAQ:RCII) closed its last trading session up +0.38 at 11.91 with 627,355 shares trading hands.