UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

 


 

FORM 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Date of Report:

(Date of earliest event reported)

March 9, 2016

 


 

RENT-A-CENTER, INC.

(Exact name of registrant as specified in charter)

 

Delaware
(State or other jurisdiction of
incorporation or organization)

 

0-25370
(Commission File Number)

 

45-0491516
(IRS Employer Identification
No.)

 

5501 Headquarters Drive
Plano, Texas 75024
(Address of principal executive offices and zip code)

 

(972) 801-1100

(Registrant’s telephone
number, including area code)

 

N/A

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions (see General Instruction A.2. below):

 

o      Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425).

 

o      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12).

 

o      Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)).

 

o      Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).

 

 

 



 

Item 5.02

 

Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.

 

On March 9, 2016, the Board of Directors (the “Board”) of Rent-A-Center, Inc. (the “Company”) appointed Rishi Garg to fill a vacancy on the Board.  Mr. Garg will serve as a Class III director until the 2018 annual meeting of stockholders.  The Board has determined that Mr. Garg is “independent” as defined by the listing standards of The Nasdaq Stock Market, Inc.  Mr. Garg will be entitled to receive compensation for his service as a director consistent with the compensation paid to non-employee directors of the Company, as described in the Company’s Proxy Statement for the 2015 Annual Meeting of Stockholders.

 

The press release containing this announcement is furnished as Exhibit 99.1.

 

Item 9.01

 

Financial Statements and Exhibits

 

 

 

99.1

 

Press Release issued on March 10, 2016 by Rent-A-Center, Inc.

 

2



 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

RENT-A-CENTER, INC.

 

 

 

 

 

 

Date: March 10, 2016

By:

/s/ Dawn M. Wolverton

 

 

Dawn M. Wolverton

 

 

Vice President — Assistant General Counsel and Secretary

 

3



 

EXHIBIT INDEX

 

Exhibit No.

 

Description

 

 

 

99.1

 

Press Release issued on March 10, 2016 by Rent-A-Center, Inc.

 

4


Exhibit 99.1

 

For Immediate Release:

 

RENT-A-CENTER, INC. APPOINTS RISHI GARG TO BOARD OF DIRECTORS


 

Plano, Texas, March 10, 2016 — Rent-A-Center, Inc. (the “Company”) (NASDAQ/NGS: RCII) today announced that Rishi Garg has been appointed to its Board of Directors.

 

“Rishi’s extensive experience in technology-enabled services, emerging financial technology, and digital media will provide an important perspective to our board as we continue to expand our own technology and e-commerce initiatives,” stated Robert D. Davis, Chief Executive Officer of the Company. “We are excited to have Rishi Garg join our Board of Directors,” Davis said.

 

“Rent-A-Center has established itself as a leader in its industry,” said Mr. Garg.  “I am very pleased to be joining the Board of Directors and I look forward to working with Robert and the rest of the Board and management team to build on the brand’s strength and enhance shareholder value,” he concluded.

 

Mr. Garg comes to Rent-A-Center with over fifteen years of experience in the technology sector having most recently served as Vice President of Corporate Development and Strategy at Twitter, Inc.  Earlier, Rishi served as the Head of Corporate Development at Square, and prior to that co-founded and served as Vice President, Business Development at FanSnap. He holds a B.A. in Economics and an M.S. in Industrial Engineering and Engineering Management from Stanford University, and earned his M.B.A at the Harvard Business School.

 

Mr. Garg was appointed by the Board of Directors to fill a vacancy on the Board of Directors and will serve as a Class III director until the Company’s 2018 annual meeting of stockholders.

 

-  -  -

 

A rent-to-own industry leader, Plano, TX-based Rent-A-Center, Inc., is focused on improving the quality of life for its customers by providing them the opportunity to obtain ownership of high-quality, durable products such as consumer electronics, appliances, computers, furniture and accessories, under flexible rental purchase agreements with no long-term obligation. The Company owns and operates approximately 2,815 stores in the United States, Mexico, Canada and Puerto Rico, and approximately 1,975 Acceptance Now kiosk locations in the United States and Puerto Rico. Rent-A-Center Franchising International, Inc., a wholly owned subsidiary of the Company, is a national franchiser of approximately 225 rent-to-own stores operating under the trade names of “Rent-A-Center,” “ColorTyme,” and “RimTyme.” For additional information about the Company, please visit our website at www.rentacenter.com.

 

Contact for Rent-A-Center, Inc.:

Maureen B. Short

Senior Vice President - Finance, Investor Relations and Treasury

(972) 801-1899

maureen.short@rentacenter.com