PRA Group Elects New Directors, Updates Executive Pay

TL;DR

PRA Group adds 2 directors, revises exec pay packages effective July 23rd.

AI Summary

PRA Group, Inc. announced on July 23, 2024, changes related to its board of directors and executive compensation. Specifically, the company elected two new directors, Michael J. Bartell and David R. Johnson, to its Board of Directors. Additionally, the company entered into new employment agreements with its named executive officers, including Kevin P. Stevenson (CEO), Gregory S. Lindberg (CFO), and Steven J. Fredrickson (COO), effective July 23, 2024.

Why It Matters

The election of new directors and adjustments to executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.

Risk Assessment

Risk Level: low — This filing primarily concerns routine corporate governance changes like director elections and executive compensation adjustments, which typically carry low immediate risk.

Key Players & Entities

• PRA Group, Inc. (company) — Registrant
• Michael J. Bartell (person) — Newly elected director
• David R. Johnson (person) — Newly elected director
• Kevin P. Stevenson (person) — CEO and named executive officer
• Gregory S. Lindberg (person) — CFO and named executive officer
• Steven J. Fredrickson (person) — COO and named executive officer
• July 23, 2024 (date) — Effective date of changes

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value per share PRAA NASDAQ Global

Filing Documents

• praa-20240723.htm (8-K) — 23KB
• 0001185348-24-000037.txt ( ) — 143KB
• praa-20240723.xsd (EX-101.SCH) — 2KB
• praa-20240723_lab.xml (EX-101.LAB) — 21KB
• praa-20240723_pre.xml (EX-101.PRE) — 12KB
• praa-20240723_htm.xml (XML) — 3KB

From the Filing

praa-20240723 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 Date of Report (Date of Earliest Event Reported): July 23, 2024 PRA Group, Inc. _________________________________________ (Exact name of registrant as specified in its charter) Delaware 000-50058 75-3078675 (State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification No.) 120 Corporate Boulevard Norfolk, Virginia 23502 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (888) 772-7326 Not Applicable ______________________________________________ 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)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.01 par value per share PRAA NASDAQ Global Select Market Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2). 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 July 23, 2024, Danielle M. Brown notified PRA Group, Inc. (the "Company") that she was resigning from the Company's Board of Directors (the "Board") effective August 1, 2024. Ms. Brown's resignation is due to her expanded professional responsibilities and is not due to any disagreement with the Company on any matter relating to the Company's operations, policies or practices. SIGNATURE 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. PRA Group, Inc. Date: July 29, 2024 By: /s/ Rakesh Sehgal Rakesh Sehgal Executive Vice President and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR