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 1934.3
 
 
 
 
 
 
 
Date of Report:
 
 
(Date of earliest event reported)
 
 
June 5, 2019
 
 
 
 
 
 
 
Rent-A-Center, Inc.
 
 
(Exact name of registrant as specified in its charter)
 
 
 
 
 
 
 
 
 
 
 
 
Delaware
001-38047
45-0491516
 
 
(State or other jurisdiction of
incorporation or organization)
(Commission
File Number)
(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:
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425).
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12).
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)).
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
¨
 
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
¨
 







Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 5, 2019, Rent-A-Center, Inc. (the “Company”) and Christopher A. Korst mutually agreed that Mr. Korst would resign his position as Executive Vice President - General Counsel of the Company effective immediately. Mr. Korst’s resignation is a termination without “cause” pursuant to Section 3(a) of the executive transition agreement between Mr. Korst and the Company. Accordingly, Mr. Korst is entitled to certain payments and benefits, including:
unpaid but earned base salary through June 5, 2019;
a pro rata bonus calculated based upon Mr. Korst’s bonus, if any, for the year ended December 31, 2019; and
one and one half times the sum of Mr. Korst’s (i) highest annual rate of salary during the previous 24 months, and (ii) average annual bonus for the two preceding calendar years.
The form of executive transition agreement to which Mr. Korst is a party is filed as Exhibit 10.24 to the Company’s Annual Report on Form 10-K for the year ended December 31, 2016.
In addition, Mr. Korst will comply for a period of two (2) years with certain post-employment covenants, including non-compete and confidentiality obligations, pursuant to the loyalty and confidentiality agreement between Mr. Korst and the Company. The form of loyalty and confidentiality agreement to which Mr. Korst is a party is filed as Exhibit 10.14 to the Company’s Annual Report on Form 10-K for the year ended December 31, 2016.
Dawn M. Wolverton, the Company’s Vice President - Assistant General Counsel and Secretary since July 2011, will serve as Interim General Counsel, effective June 5, 2019. Ms. Wolverton joined the Company in 2004 as Senior Counsel and was previously a shareholder in Winstead PC.





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:
June 11, 2019
 
By:
/s/ Dawn M. Wolverton
 
 
 
 
Dawn M. Wolverton
 
 
 
 
Interim General Counsel
 
 
 
 
 


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