---
schema_version: "secwatch.filing_event.v1"
accession: "0001185348-23-000039"
form_type: "8-K"
ticker: "PRAA"
cik: "0001185348"
company_name: "PRA GROUP INC"
filed_at: "2023-12-07T23:59:59+00:00"
generated_at: "2026-06-07T16:01:29.347945+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# PRA Group enters new employment agreement with CEO Vikram Atal through Dec 2025

## Summary
- Employment agreement effective Dec 1, 2023, expires Dec 31, 2025, unless terminated earlier.
- Base salary remains $950,000; eligible for annual bonus and equity awards under existing plans.
- Severance on without-cause/constructive termination: greater of remaining base salary or 1.5x base (2x on change of control), plus 1.5x target bonus (2x on change of control), plus 24 months COBRA.
- Agreement supersedes prior letter agreement dated March 27, 2023.
- Contains restrictive covenants: non-solicitation, non-competition, non-disparagement, confidentiality.

## SEC filing metadata
- accession: 0001185348-23-000039
- form_type: 8-K
- ticker: PRAA
- cik: 0001185348
- company_name: PRA GROUP INC
- filed_at: 2023-12-07T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1185348/000118534823000039/0001185348-23-000039-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1185348/000118534823000039/praa-20231201.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001185348-23-000039
- JSON: https://secwatch.observer/filing/0001185348-23-000039.json
- Plain text: https://secwatch.observer/filing/0001185348-23-000039.txt

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