News Column

RENT A CENTER INC DE FILES (8-K) Disclosing Change in Directors or Principal Officers, Other Events

June 10, 2014



Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers.

Rent-A-Center, Inc. (the "Company") named Guy J. Constant, 49, as Executive Vice President - Finance, Chief Financial Officer and Treasurer effective as of June 16, 2014. Mr. Constant was previously employed by Brinker International, Inc., serving as Executive Vice President, Chief Financial Officer and President of Global Business Development from January 2013 until March 2014; as Executive Vice President and Chief Financial Officer from September 2010 to January 2013; Senior Vice President of Finance from May 2008 to September 2010; Vice President of Strategic Planning, Analysis and Investor Relations from September 2005 to May 2008; and Senior Director of Compensation from November 2004 to September 2005.

In connection with the appointment of Mr. Constant as Executive Vice President - Finance, Chief Financial Officer and Treasurer of the Company, Mr. Constant and the Company have agreed that Mr. Constant's annual base salary will be $475,000, and Mr. Constant will be eligible to participate in the Company's annual cash bonus and equity compensation programs. Mr. Constant's target annual cash bonus will be 55% of his annual base salary. Mr. Constant's target annual equity compensation will be 100% of his annual base salary and shall be paid consistent with the equity compensation paid to executive officers of the Company, as described in the Company's Proxy Statement for the 2014 Annual Meeting of Stockholders. In addition, on July 1, 2014, the first business day of the quarter following the employment commencement date, the Company will make the following equity grants to Mr. Constant: 10,000 options to purchase the common stock of the Company



Restricted stock units valued at $118,750, which will vest on January 31, 2017

Restricted stock units valued at $237,500, which will vest upon the achievement by the Company of aggregate EBITDA for the three-year period ending December 31, 2016 in the amount of $1,203.3 billion Item 8.01 Other Events. On June 10, 2014, the Company issued a press release announcing the matters addressed in Item 5.02 of this Current Report on Form 8-K. A copy of this press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and incorporated herein by this reference. Item 9.01 Financial Statements and Exhibits. Exhibit 99.1 - Press Release issued on June 10, 2014, by Rent-A-Center, Inc.



--------------------------------------------------------------------------------


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Edgar Glimpses


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters