0001808834-20-000035.txt : 20201214
0001808834-20-000035.hdr.sgml : 20201214
20201214182534
ACCESSION NUMBER: 0001808834-20-000035
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20201130
FILED AS OF DATE: 20201214
DATE AS OF CHANGE: 20201214
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Michaels Steven A
CENTRAL INDEX KEY: 0001549760
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-39628
FILM NUMBER: 201387597
MAIL ADDRESS:
STREET 1: 309 E PACES FERRY ROAD
CITY: ATLANTA
STATE: GA
ZIP: 30305
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: PROG Holdings, Inc.
CENTRAL INDEX KEY: 0001808834
STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-EQUIPMENT RENTAL & LEASING, NEC [7359]
IRS NUMBER: 000000000
STATE OF INCORPORATION: GA
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 256 W. DATA DRIVE
CITY: DRAPER
STATE: UT
ZIP: 84020
BUSINESS PHONE: (385) 351-1369
MAIL ADDRESS:
STREET 1: 256 W. DATA DRIVE
CITY: DRAPER
STATE: UT
ZIP: 84020
FORMER COMPANY:
FORMER CONFORMED NAME: Aaron's Holdings Company, Inc.
DATE OF NAME CHANGE: 20200408
4
1
wf-form4_160798830660121.xml
FORM 4
X0306
4
2020-11-30
0
0001808834
PROG Holdings, Inc.
PRG
0001549760
Michaels Steven A
256 WEST DATA DR
DRAPER
UT
84080
1
1
0
0
CEO
Common Stock
2020-11-30
4
A
0
24245
39.39
A
98315
D
Common Stock
2020-11-30
4
A
0
4918
A
103233
D
Stock Options (Right to Buy)
27.46
2020-11-30
4
A
0
399
27.46
A
2024-02-18
Stock Options (Right to Buy)
399.0
5134
D
Stock Options (Right to Buy)
26.98
2020-11-30
4
A
0
640
26.98
A
2024-04-15
Stock Options (Right to Buy)
640.0
8237
D
Stock Options (Right to Buy)
25.87
2020-11-30
4
A
0
2124
25.87
A
2025-03-10
Stock Options (Right to Buy)
2124.0
27324
D
Stock Options (Right to Buy)
20.88
2020-11-30
4
A
0
3249
20.88
A
2026-02-26
Stock Options (Right to Buy)
3249.0
41799
D
Stock Options (Right to Buy)
25.07
2020-11-30
4
A
0
2625
25.07
A
2027-02-24
Stock Options (Right to Buy)
2625.0
33765
D
Stock Options (Right to Buy)
43.59
2020-11-30
4
A
0
1992
43.59
A
2028-03-02
Stock Options (Right to Buy)
1992.0
25632
D
Stock Options (Right to Buy)
49.97
2020-11-30
4
A
0
1527
49.97
A
2029-02-21
Stock Options (Right to Buy)
1527.0
19647
D
Stock Options (Right to Buy)
32.07
2020-11-30
4
A
0
2126
32.07
A
2030-03-06
Stock Options (Right to Buy)
2126.0
27356
D
In connection with the spin-off of The Aaron's Company, Inc. from PROG Holdings, Inc., the Compensation Committee of the Issuer's Board of Directors determined these performance shares were earned, based on the level of attainment of various financial performance goals. These shares, which were granted in March 2020, are expected to vest in three equal increments on each of March 7, 2021, 2022 and 2023, subject to the grant agreement between the Issuer and the Reporting Person.
In connection with the spin-off of The Aaron's Company, Inc. from PROG Holdings, Inc., the number of unvested restricted shares and performance shares granted to the Reporting Person prior to the spin-off were adjusted in accordance with the Employee Matters Agreement in a manner intended to preserve the aggregate value of the original corresponding PROG Holdings, Inc. equity grant, which resulted in the Reporting Person receiving these additional shares of PROG Holdings, Inc.
In connection with the spin-off of The Aaron's Company, Inc. from PROG Holdings, Inc., the number of stock options granted to the Reporting Person prior to the spin-off, and exercise prices of each option award, were adjusted in accordance with the Employee Matters Agreement in a manner intended to preserve the aggregate value of the original corresponding PROG Holdings, Inc. grant of stock options, which resulted in the Reporting Person receiving these additional stock options of PROG Holdings, Inc. at the specified exercise prices.
These options vested on February 18, 2017.
These options vested on April 15, 2017.
These options vested in equal increments on each of March 15, 2016, 2017, and 2018.
These options vested in equal increments on each of March 15, 2017, 2018, and 2019.
These options vested in equal increments on each of March 15, 2018, 2019, and 2020.
Two thirds of these options vested on each of March 7, 2019 and 2020, with the other one third expected to vest on March 7, 2021, subject to the grant agreement between the Issuer and the Reporting Person.
One third of these options vested on March 7, 2020. The remaining two thirds of these options are expected to vest in two equal increments on each of March 7, 2021 and 2022, subject to the grant agreement between the Issuer and the Reporting Person.
These options are expected to vest in three equal increments on each of March 7, 2021, 2022 and 2023, subject to the grant agreement between the Issuer and the Reporting Person.
/s/ George M. Sewell, by Power of Attorney for Steven A. Michaels
2020-12-14