Rent-A-Center lowers Q3 guidance; appoints new CFO from Santander

UPBOUND GROUP, INC.

Maureen Short departed as EVP-CFO on Sept 28; Fahmi Karam named successor effective Oct 31.
Karam, former Santander Consumer USA CFO, will receive $1M base salary, $2.5M LTIP award, $1M sign-on bonus, and $2M in RSUs.
Q3 2022 revenue guidance cut to $1.000-$1.020B from $1.000-$1.055B.
Adjusted EBITDA (excl. SBC) guidance lowered to $110-$120M vs prior $125-$142M.
Non-GAAP diluted EPS guidance reduced to $0.85-$0.95 from $1.05-$1.25.

item 5.02 item 7.01 item 9.01

Executive movements

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Appointed

Fahmi Karam

Executive Vice President - Chief Financial Officer

UPBD · UPBOUND GROUP, INC.

Effective: 2022-10-31
Filed: September 29, 2022, 7:59 PM ET

On September 29, 2022, the Company announced that Mr. Fahmi Karam will join the Company as its Executive Vice President - Chief Financial Officer effective October 31, 2022 (the “Effective Date”).

Departed

Maureen Short

Executive Vice President - Chief Financial Officer

UPBD · UPBOUND GROUP, INC.

Effective: 2022-09-28
Successor: Fahmi Karam
Filed: September 29, 2022, 7:59 PM ET

On September 28, 2022, Ms. Maureen Short, Executive Vice President - Chief Financial Officer of Rent-A-Center, Inc. (the “Company”) departed the Company.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 1.0

Fahmi Karam was appointed as Executive Vice President - Chief Financial Officer at UPBOUND GROUP, INC..

Action: appointed
Role: Executive Vice President - Chief Financial Officer

Exact text from the filing

On September 29, 2022, the Company announced that Mr. Fahmi Karam will join the Company as its Executive Vice President - Chief Financial Officer effective October 31, 2022 (the “Effective Date”).

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Maureen Short departed as Executive Vice President - Chief Financial Officer at UPBOUND GROUP, INC..

Action: departed
Role: Executive Vice President - Chief Financial Officer

Exact text from the filing

On September 28, 2022, Ms. Maureen Short, Executive Vice President - Chief Financial Officer of Rent-A-Center, Inc. (the “Company”) departed the Company.

View on SEC.gov

UPBOUND GROUP, INC. filing history →

Source: SEC EDGAR

accession 0001104659-22-104199

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