PRAA Form 4: 10,741-Share RSU Grant Boosts Director Ownership

Rhea-AI Filing Summary

PRA Group, Inc. (PRAA) – Form 4 Insider Filing

On 06/17/2025, director Adrian M. Butler received an annual retainer grant of 10,741 restricted stock units (RSUs) under the company’s 2022 Omnibus Incentive Plan. The RSUs were reported at a cost basis of $0, reflecting a non-cash, equity-based award rather than an open-market purchase. The award will vest in full on 06/17/2026 provided Mr. Butler remains a board member on that date.

Following the grant, Mr. Butler’s total direct beneficial ownership increased to 14,114 common shares. No derivative securities were reported, and there were no dispositions. The filing was signed on 06/20/2025 by the reporting person’s attorney-in-fact.

This appears to be a routine, pre-scheduled director compensation grant and does not introduce new strategic information or indicate open-market buying or selling pressure.

Positive

• Director’s beneficial ownership increased by 10,741 shares, modestly aligning interests with shareholders.

Negative

• None.

Insights

Portfolio Manager

TL;DR: Routine RSU grant; tiny size; neutral valuation impact.

The Form 4 shows an annual equity retainer—10,741 RSUs—awarded to director Adrian Butler. At PRAA’s recent share price (~$X, not disclosed in filing), the grant is modest relative to PRA Group’s ~45 million share float. No cash changed hands, so liquidity and leverage remain unaffected. The one-year cliff vest aligns director incentives with shareholders but offers no signal of opportunistic insider buying. Consequently, I consider the disclosure neutral for valuation and price action.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Butler Adrian M

(Last) (First) (Middle)

120 CORPORATE BLVD

(Street)

NORFOLK VA 23502

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PRA GROUP INC [ PRAA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/17/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/17/2025	06/17/2025	A		10,741(1)	A	$0	14,114	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Director retainer grant awarded annually in the form of restricted stock units ("RSUs") pursuant to the Issuer's 2022 Omnibus Incentive Plan. The RSUs will vest fully on June 17, 2026, provided that the Reporting Person is a director of the Issuer on the vesting date.

Remarks:

	/s/ Christina Branch, Attorney-In-Fact	06/20/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many PRAA shares did director Adrian M. Butler acquire?

He received 10,741 restricted stock units on 06/17/2025.

What price was paid for the RSUs granted to the director?

The RSUs were an equity retainer grant reported at $0 cost.

When will the 10,741 RSUs granted to Butler vest?

They vest fully on 06/17/2026, contingent on his continued board service.

What is Adrian Butler’s total PRAA share ownership after the grant?

His direct beneficial ownership is now 14,114 common shares.

Does the filing mention a Rule 10b5-1 trading plan?

The form includes a checkbox, but no indication was provided that this transaction was executed under a 10b5-1 plan.