---
schema_version: "secwatch.filing_event.v1"
accession: "0001185348-23-000011"
form_type: "8-K"
ticker: "PRAA"
cik: "0001185348"
company_name: "PRA GROUP INC"
filed_at: "2023-03-28T23:59:59+00:00"
generated_at: "2026-06-17T11:51:21.188856+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# PRA Group CEO Kevin Stevenson out, Vikram Atal in; CFPB lawsuit settled for $27M

## Summary
- CEO Kevin Stevenson terminated without cause effective March 27, 2023; Vikram Atal, board member since 2015, appointed President and CEO.
- Atal's compensation: $950k base salary, $1.5M restricted stock units vesting over 3 years, target bonus $950k.
- CFPB lawsuit settled: LLC pays $12M civil penalty and ~$15M to consumers (less than 0.1% of active accounts).
- Majority of settlement financial impact already reflected in Dec 2022 financials; no material adverse impact expected.
- Stevenson to receive separation payments per existing agreement, remains subject to non-compete/non-solicitation.

## SEC filing metadata
- accession: 0001185348-23-000011
- form_type: 8-K
- ticker: PRAA
- cik: 0001185348
- company_name: PRA GROUP INC
- filed_at: 2023-03-28T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1185348/000118534823000011/0001185348-23-000011-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1185348/000118534823000011/praa-20230322.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001185348-23-000011
- JSON: https://secwatch.observer/filing/0001185348-23-000011.json
- Plain text: https://secwatch.observer/filing/0001185348-23-000011.txt

## Key facts
- Executive change
  Vikram A. Atal was appointed as President and Chief Executive Officer at PRA GROUP INC.
  - Action: appointed
  - Role: President and Chief Executive Officer
  source text: On March 22, 2023, the Board also appointed Vikram A. Atal, a member of the Board since 2015, as the Company’s President and Chief Executive Officer effective March 27, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1185348/000118534823000011/0001185348-23-000011-index.htm
- Executive change
  Kevin P. Stevenson departed as President and Chief Executive Officer at PRA GROUP INC.
  - Action: terminated without cause
  - Role: President and Chief Executive Officer
  source text: On March 22, 2023, the Board of Directors (“Board”) of PRA Group, Inc. (the “Company”) approved the termination without cause of Kevin P. Stevenson’s employment as the Company’s President and Chief Executive Officer effective March 27, 2023 consistent with the terms of the existing employment agreement between the Company and Mr. Stevenson (the “Stevenson Employment Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1185348/000118534823000011/0001185348-23-000011-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.