Regis Corp Files Definitive Proxy Statement for 2024 Meeting

TL;DR

Regis Corp (RGS) filed its proxy statement for the Nov 6 meeting. Shareholders vote on key company matters.

AI Summary

Regis Corporation filed a definitive proxy statement (DEF 14A) on September 26, 2024, for its annual meeting on November 6, 2024. The filing concerns the solicitation of proxies from shareholders regarding matters to be voted on at the meeting. Regis Corporation, headquartered in Minneapolis, MN, operates in the personal services industry.

Why It Matters

This filing is crucial for shareholders as it outlines the agenda and proposals for the upcoming annual meeting, influencing corporate governance and executive compensation decisions.

Risk Assessment

Risk Level: low — This is a routine filing for an annual shareholder meeting and does not contain new material events or financial distress signals.

Key Numbers

• DEF 14A — Filing Type (Definitive Proxy Statement)

Key Players & Entities

• REGIS CORP (company) — Registrant
• 0001140361-24-042046 (filing_id) — Accession Number
• 20240926 (date) — Filing Date
• 20241106 (date) — Meeting Date
• MINNEAPOLIS, MN (location) — Company Headquarters

FAQ

From the Filing

0001140361-24-042046.txt : 20240926 0001140361-24-042046.hdr.sgml : 20240926 20240926160456 ACCESSION NUMBER: 0001140361-24-042046 CONFORMED SUBMISSION TYPE: DEF 14A PUBLIC DOCUMENT COUNT: 23 CONFORMED PERIOD OF REPORT: 20241106 FILED AS OF DATE: 20240926 DATE AS OF CHANGE: 20240926 FILER: COMPANY DATA: COMPANY CONFORMED NAME: REGIS CORP CENTRAL INDEX KEY: 0000716643 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PERSONAL SERVICES [7200] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 410749934 STATE OF INCORPORATION: MN FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 001-12725 FILM NUMBER: 241328825 BUSINESS ADDRESS: STREET 1: 3701 WAYZATA BLVD STREET 2: SUITE 500 CITY: MINNEAPOLIS STATE: MN ZIP: 55416 BUSINESS PHONE: 9529477777 MAIL ADDRESS: STREET 1: 3701 WAYZATA BLVD STREET 2: SUITE 500 CITY: MINNEAPOLIS STATE: MN ZIP: 55416 DEF 14A 1 ny20031507x1_def14a.htm DEF 14A TABLE OF CONTENTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.  ) Filed by the Registrant ☒ Filed by a Party other than the Registrant   ☐ Check the appropriate box:   ☐ Preliminary Proxy Statement   ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ☒ Definitive Proxy Statement   ☐ Definitive Additional Materials   ☐ Soliciting Material under § 240.14a-12   Regis Corporation (Name of Registrant as Specified In Its Charter)   (Name of Person(s) Filing Proxy Statement, if Other Than the Registrant)     Payment of Filing Fee (Check all boxes that apply): ☒     No fee required   ☐     Fee paid previously with preliminary materials   ☐     Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11         TABLE OF CONTENTS TABLE OF CONTENTS TABLE OF CONTENTS LETTER FROM THE CHAIRMAN AND CEO Dear Regis shareholders, employees, franchisees, vendors, and customers, Fiscal 2024 was a year in which we delivered several key milestones that changed the trajectory of Regis, putting the company back on a solid financial foundation and setting the stage for future growth. Most notably, we delivered a successful refinancing that reduced our indebtedness by more than $80 million, saving us approximately $7 million in cash interest annually, and extended our maturity from what was August 2025 to June 2029. This refinancing transformed and right sized the company’s balance sheet and leverage profile, with our leverage as of June 30, 2024, at a manageable 4.5x debt to adjusted EBITDA versus what was close to 8.0x debt to adjusted EBITDA at the beginning of June 2024. The benefit of this key milestone goes beyond financial. We have removed a major distraction to our employees, franchisees, and shareholders. Importantly, management now has increased bandwidth to focus solely on the strategy and execution to grow the business itself alongside our franchisees. We cannot stress this point enough, as the time, energy, focus, and constraints of navigating our previous capital structure were extraordinary. We can say with confidence this is truly a new day and chapter for Regis in which we can finally operate as a true franchisor, as was intended all along when Regis set out on that journey to shift the business model seven years ago. This is a major step for Regis—and all our stakeholders—on our path to sustainable, long-term growth and value creation. In addition to the refinancing, we continued to deliver operating metrics that demonstrate further progress in stabilizing and growing the business. We delivered same-store sales, operating i