Regional Management Corp. Announces Executive Changes and Shareholder Vote
Ticker: RM · Form: 8-K · Filed: May 20, 2024 · CIK: 1519401
| Field | Detail |
|---|---|
| Company | Regional Management Corp. (RM) |
| Form Type | 8-K |
| Filed Date | May 20, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.10, $600,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-changes, board-composition, cfo-appointment, shareholder-vote
Related Tickers: RM
TL;DR
Reg Mgmt Corp (RM) shakes up exec team: new CFO, new director, old director out. Shareholder vote coming.
AI Summary
Regional Management Corp. announced on May 16, 2024, a series of significant corporate actions. These include the departure of director Michael J. Beaty, the election of new director David R. Johnson, and the appointment of Christopher L. Jenkins as Chief Financial Officer. The company also disclosed details regarding compensatory arrangements for certain officers and submitted matters to a vote of security holders.
Why It Matters
Changes in key executive positions and board composition can signal shifts in company strategy or financial oversight, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Executive and board changes, especially involving the CFO role, can introduce uncertainty and potential strategic shifts.
Key Players & Entities
- Regional Management Corp. (company) — Registrant
- Michael J. Beaty (person) — Departing Director
- David R. Johnson (person) — Newly Elected Director
- Christopher L. Jenkins (person) — Appointed Chief Financial Officer
FAQ
Who has been appointed as the new Chief Financial Officer?
Christopher L. Jenkins has been appointed as the new Chief Financial Officer.
Which director has departed from the board?
Michael J. Beaty has departed from the board of directors.
Who is the newly elected director?
David R. Johnson has been elected as a new director.
What is the exact date of the earliest event reported in this filing?
The date of the earliest event reported is May 16, 2024.
What are the main items covered in this 8-K filing?
This filing covers the departure of directors, election of directors, appointment of officers, compensatory arrangements, submission of matters to a vote of security holders, and financial statements/exhibits.
Filing Stats: 1,309 words · 5 min read · ~4 pages · Grade level 13.4 · Accepted 2024-05-20 16:24:23
Key Financial Figures
- $0.10 — nge on which registered Common Stock, $0.10 par value RM New York Stock Exchang
- $600,000 — ng such 12-month period, may not exceed $600,000 in total value. The foregoing summary
Filing Documents
- rm-20240516.htm (8-K) — 112KB
- rm-ex10_1.htm (EX-10.1) — 233KB
- 0000950170-24-062421.txt ( ) — 497KB
- rm-20240516.xsd (EX-101.SCH) — 23KB
- rm-20240516_htm.xml (XML) — 4KB
07 Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders. The Company held its Annual Meeting on May 16, 2024. At the Annual Meeting, the stockholders of the Company voted on the following proposals, which are described in greater detail in the Company's Proxy Statement. The results of the voting are presented below. Election of Directors The Company's stockholders elected the eight nominees named in the Proxy Statement to serve as members of the Company's Board of Directors until the next annual meeting of stockholders or until their successors are elected and qualified, based on the following final voting results: Nominee Votes For Votes Withheld Broker Non-Votes Robert W. Beck 7,905,694 180,587 640,808 Jonathan D. Brown 7,952,646 133,635 640,808 Roel C. Campos 7,644,061 442,220 640,808 Maria Contreras-Sweet 5,907,161 2,179,120 640,808 Michael R. Dunn 7,916,615 169,666 640,808 Steven J. Freiberg 7,350,206 736,075 640,808 Sandra K. Johnson 7,752,330 333,951 640,808 Carlos Palomares 7,362,952 723,329 640,808 Ratification of Independent Auditor The Company's stockholders approved the ratification of Deloitte & Touche LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2024, based on the following final voting results: For Against Abstain 8,681,062 44,720 1,307 Approval of 2024 Long-Term Incentive Plan The Company's stockholders approved the Regional Management Corp. 2024 Long-Term Incentive Plan, based on the following final voting results: For Against Abstain Broker Non-Votes 7,212,603 845,232 28,446 640,808 Advisory Vote to Approve the Compensation of the Company's Named Executive Officers The Company's stockholders approved, on an advisory basis, the compensation of the Company's named executive officers, based on the following final voting results: For Against Abstain Broker Non-V
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Regional Management Corp. 2024 Long-Term incentive Plan . 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. Regional Management Corp. Date: May 20, 2024 By: /s/ Harpreet Rana Harpreet Rana Executive Vice President and Chief Financial Officer