Upbound Group, Inc. Announces 2024 Annual Meeting of Stockholders

Ticker: UPBD · Form: DEF 14A · Filed: Apr 23, 2024 · CIK: 933036

Sentiment: neutral

Topics: Proxy Statement, Annual Meeting, Shareholder Meeting, Corporate Governance, Notice and Access

TL;DR

<b>Upbound Group, Inc. invites stockholders to its 2024 Annual Meeting on June 4, 2024, with proxy materials available online.</b>

AI Summary

UPBOUND GROUP, INC. (UPBD) filed a Proxy Statement (DEF 14A) with the SEC on April 23, 2024. Upbound Group, Inc. will hold its 2024 Annual Meeting of Stockholders on June 4, 2024, at 8:00 a.m. Central Time. The meeting will take place at the Upbound Group, Inc. Field Support Center in Plano, Texas. Stockholders will have the opportunity to ask management questions during a Q&A session. Proxy materials are being furnished to stockholders via the Internet under the SEC's 'Notice and Access' model. A Notice of Internet Availability of Proxy Materials was mailed on or about April 23, 2024, providing instructions for electronic access and paper copy requests.

Why It Matters

For investors and stakeholders tracking UPBOUND GROUP, INC., this filing contains several important signals. This filing is a proxy statement (DEF 14A) detailing the agenda and logistics for the annual meeting, which is crucial for shareholder participation in corporate governance. The company is utilizing the 'Notice and Access' model for distributing proxy materials, indicating a move towards digital communication and potentially reduced printing costs.

Risk Assessment

Risk Level: low — UPBOUND GROUP, INC. shows low risk based on this filing. The filing is a routine proxy statement for an annual meeting, with no immediate financial or operational performance data presented that would indicate high risk.

Analyst Insight

Stockholders should review the proxy materials to understand the meeting agenda and exercise their voting rights on corporate matters.

Key Numbers

Key Players & Entities

FAQ

When did UPBOUND GROUP, INC. file this DEF 14A?

UPBOUND GROUP, INC. filed this Proxy Statement (DEF 14A) with the SEC on April 23, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by UPBOUND GROUP, INC. (UPBD).

Where can I read the original DEF 14A filing from UPBOUND GROUP, INC.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by UPBOUND GROUP, INC..

What are the key takeaways from UPBOUND GROUP, INC.'s DEF 14A?

UPBOUND GROUP, INC. filed this DEF 14A on April 23, 2024. Key takeaways: Upbound Group, Inc. will hold its 2024 Annual Meeting of Stockholders on June 4, 2024, at 8:00 a.m. Central Time.. The meeting will take place at the Upbound Group, Inc. Field Support Center in Plano, Texas.. Stockholders will have the opportunity to ask management questions during a Q&A session..

Is UPBOUND GROUP, INC. a risky investment based on this filing?

Based on this DEF 14A, UPBOUND GROUP, INC. presents a relatively low-risk profile. The filing is a routine proxy statement for an annual meeting, with no immediate financial or operational performance data presented that would indicate high risk.

What should investors do after reading UPBOUND GROUP, INC.'s DEF 14A?

Stockholders should review the proxy materials to understand the meeting agenda and exercise their voting rights on corporate matters. The overall sentiment from this filing is neutral.

How does UPBOUND GROUP, INC. compare to its industry peers?

Upbound Group, Inc. operates in the equipment rental and leasing sector. Annual meetings are standard corporate events for shareholder engagement and governance.

Are there regulatory concerns for UPBOUND GROUP, INC.?

This filing is made under Rule 14a-101 of the Securities Exchange Act of 1934, which governs the content and distribution of proxy statements for shareholder meetings.

Industry Context

Upbound Group, Inc. operates in the equipment rental and leasing sector. Annual meetings are standard corporate events for shareholder engagement and governance.

Regulatory Implications

This filing is made under Rule 14a-101 of the Securities Exchange Act of 1934, which governs the content and distribution of proxy statements for shareholder meetings.

What Investors Should Do

  1. Review the proxy statement for details on proposals and voting procedures.
  2. Access proxy materials online or request paper copies as needed.
  3. Attend the annual meeting or submit proxy votes to participate in corporate decisions.

Key Dates

Year-Over-Year Comparison

This is the initial filing for the 2024 Annual Meeting of Stockholders, providing details on the upcoming event and proxy material distribution.

Filing Stats: 4,616 words · 18 min read · ~15 pages · Grade level 14.7 · Accepted 2024-04-23 08:00:37

Key Financial Figures

Filing Documents

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT 62 OTHER INFORMATION 64 Delinquent Section 16(a) Reports 64 Annual Report on Form 10-K 64 "Householding" of Proxy Materials 64 Submission of Stockholder Proposals 64 Other Business 65 ANNEX A: CERTIFICATE OF INCORPORATION AMENDMENT A-1 ANNEX B: RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES B-1 TABLE OF CONTENTS Proxy Statement For the Annual Meeting of Stockholders To Be Held on June 4, 2024 This proxy statement is furnished in connection with the solicitation of proxies by Upbound Group, Inc. on behalf of its board of directors (the "Board"), for the 2024 annual meeting of stockholders of the Company (the "2024 Annual Meeting"). In this proxy statement, references to "Upbound", the "Company", "we", "us", "our" and similar expressions refer to Upbound Group, Inc., unless the context of a particular reference provides otherwise. Although we refer to our website and other websites in this proxy statement, the information contained on our website or other websites is not a part of this proxy statement. The Notice of Internet Availability of Proxy Materials (the "Notice") is being mailed on or about April 23, 2024 to stockholders of record as of April 9, 2024. SUMMARY This summary highlights certain information contained elsewhere in this proxy statement. This summary does not contain all of the information that you should consider, and you should read the entire proxy statement carefully before voting. For information regarding our 2023 performance, please review our Annual Report on Form 10-K for the year ended December 31, 2023 (the "2023 Form 10-K"). Meeting Information Date & Time: 8:00 a.m., Central Time, on Tuesday, June 4, 2024, or at such other time to which the meeting may be adjourned or postponed. References in this proxy statement to the 2024 Annual Meeting also refer to any adjournments, postponements or changes in time or location of t

Executive Compensation

Executive Compensation Program Objectives The objectives of our executive compensation program are to: attract, retain and motivate senior executives with competitive compensation opportunities; balance short-term and long-term strategic goals; align our executive compensation program with the core values identified in our mission statement; and reward achievement of our financial and non-financial goals. The Company's compensation philosophy focuses on ensuring a competitive target total direct compensation (base salary, annual incentive opportunity and long-term incentive compensation opportunity) based on market data for compensation paid at similarly situated public companies in the retail and consumer finance sectors, which include companies in the Company's Peer Group (as described under "Compensation Discussion and Analysis" below). The Compensation Committee ultimately exercises discretion to finalize pay levels based on numerous factors, including tenure, experience, historical performance and responsibilities. The following are the primary forms of compensation currently utilized by the Compensation Committee in compensating our named executive officers: base salary, which is paid in cash; annual incentive compensation, which (to the extent earned for a particular year) is paid in cash and, for 2023, was based on (1) consolidated Adjusted EBITDA, (2) Acima segment revenue, and (3) Rent-A-Center segment revenue. For purposes of the annual incentive compensation, consolidated Adjusted EBITDA is calculated as net earnings before interest, taxes, stock-based compensation, depreciation and amortization, and the impacts of the annual incentive compensation expense, as adjusted for certain gains and charges we view as extraordinary, unusual or non-recurring in nature or which we believe do not reflect our core business activities ("Adjusted EBITDA"); and long-term incentive compensation, which consists of (1) restricted stock units which ves

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