H&R Block Signs Material Definitive Agreement
Ticker: HRB · Form: 8-K · Filed: Oct 23, 2024 · CIK: 12659
Sentiment: neutral
Topics: material-agreement, definitive-agreement
Related Tickers: HRB
TL;DR
HRB just signed a big deal, details TBD.
AI Summary
On October 18, 2024, H&R Block, Inc. filed an 8-K report to disclose the entry into a material definitive agreement. The filing does not provide specific details about the agreement, its terms, or the parties involved, but indicates a significant business development for the company.
Why It Matters
This filing signals a significant new contract or partnership for H&R Block, which could impact its future business operations and financial performance.
Risk Assessment
Risk Level: medium — The lack of specific details in the filing creates uncertainty about the nature and potential impact of the material definitive agreement.
Key Players & Entities
- H&R Block, Inc. (company) — Registrant
- October 18, 2024 (date) — Date of earliest event reported
- Missouri (jurisdiction) — State of incorporation
- Kansas City, MO (location) — Principal Executive Offices
FAQ
What is the nature of the material definitive agreement entered into by H&R Block?
The filing does not specify the nature of the material definitive agreement, only that one was entered into on October 18, 2024.
Who are the other parties involved in this material definitive agreement?
The filing does not disclose the names of the other parties to the agreement.
What is the effective date of this material definitive agreement?
The earliest event reported is October 18, 2024, which is the date of the report and likely the date the agreement was entered into.
Does this agreement involve any financial commitments or transactions?
The filing does not provide details on any financial commitments or transactions related to the agreement.
Where is H&R Block, Inc. headquartered?
H&R Block, Inc. is headquartered at One H&R Block Way, Kansas City, MO 64105.
Filing Stats: 683 words · 3 min read · ~2 pages · Grade level 10.7 · Accepted 2024-10-23 17:02:03
Filing Documents
- hrb-20241018.htm (8-K) — 28KB
- fourthamendmenttoprogramma.htm (EX-10.1) — 35KB
- 0001838862-24-000037.txt ( ) — 189KB
- hrb-20241018.xsd (EX-101.SCH) — 2KB
- hrb-20241018_lab.xml (EX-101.LAB) — 21KB
- hrb-20241018_pre.xml (EX-101.PRE) — 12KB
- hrb-20241018_htm.xml (XML) — 3KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. As previously disclosed, on August 5, 2020, Emerald Financial Services, LLC ("EFS"), a wholly-owned, indirect subsidiary of H&R Block, Inc. (the "Company") and Pathward, N.A. (f/k/a MetaBank, N.A.), a national bank ("Pathward"), entered into a Program Management Agreement (the "PMA") pursuant to which Pathward acts as the bank provider of H&R Block-branded and other financial products. The PMA was most recently amended pursuant to a Third Amendment to Program Management Agreement, dated April 1, 2024. Effective October 18, 2024, EFS and Pathward entered into a Fourth Amendment to Program Management Agreement (the "Amendment"), which, among other things: Extends the term of the PMA by two years, through June 30, 2027; and Amends and restates the terms of the Emerald Advance participation agreement, including varying the level of the participation interests purchased by EFS by jurisdiction, which the Company expects to slightly lower the overall share of EFS's participation interests at the portfolio level. The other material terms of the PMA remain substantially unchanged. For additional information about the terms of the PMA, see the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on December 23, 2021 , and the amendments filed as Exhibit 10.1 to the Company's quarterly report on Form 10-Q for the quarter ended September 30, 2023 and Exhibit 10.30 to the Company's annual report on Form 10-K for the fiscal year ended June 30, 2024, which are incorporated herein by reference. The foregoing summary of the Amendment is qualified in its entirety by reference to the full text of the Amendment, a copy of which is filed as Exhibit 10.1 hereto and incorporated herein by reference.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 10.1 Fourth Amendment to Program Management Agreement, dated October 18, 2024, by and between Emerald Financial Services, LLC and Pathward, N.A. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
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. H&R BLOCK, INC. Date: October 23, 2024 By: /s/ Katharine M. Haynes Katharine M. Haynes Vice President and Corporate Secretary