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