0001808834-20-000034.txt : 20201214
0001808834-20-000034.hdr.sgml : 20201214
20201214182503
ACCESSION NUMBER: 0001808834-20-000034
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: Garner Brian
CENTRAL INDEX KEY: 0001834905
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-39628
FILM NUMBER: 201387596
MAIL ADDRESS:
STREET 1: 256 WEST DATA DR
CITY: DRAPER
STATE: UT
ZIP: 84020
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_160798828851697.xml
FORM 4
X0306
4
2020-11-30
0
0001808834
PROG Holdings, Inc.
PRG
0001834905
Garner Brian
256 WEST DATA DR
DRAPER
UT
84020
0
1
0
0
Chief Financial Officer
Common Stock
2020-11-30
4
A
0
3845
39.39
A
10639
D
Common Stock
2020-11-30
4
A
0
809
A
11448
D
Stock Options (Right to Buy)
25.07
2020-11-30
4
A
0
137
25.07
A
2027-02-24
Stock Options (Right to Buy)
137.0
1767
D
Stock Options (Right to Buy)
43.59
2020-11-30
4
A
0
236
43.59
A
2028-03-02
Stock Options (Right to Buy)
236.0
3036
D
Stock Options (Right to Buy)
49.97
2020-11-30
4
A
0
326
49.97
A
2029-02-21
Stock Options (Right to Buy)
326.0
4196
D
Stock Options (Right to Buy)
39.39
2020-11-30
4
A
0
445
39.39
A
2030-02-25
Stock Options (Right to Buy)
445.0
5725
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 February 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 March 15, 2020.
One half of these options vested on March 7, 2020, with the other one half 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 Brian Garner
2020-12-14