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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13
OR 15(d) OF THE
SECURITIES EXCHANGE ACT
OF 1934
Date of Report:
(Date
of earliest event reported)
September 22, 2026
UPBOUND GROUP, INC.
(Exact name of registrant
as specified in charter)
Delaware
(State or other jurisdiction of
incorporation or organization) |
001-38047
(Commission
File Number) |
45-0491516
(IRS Employer
Identification No.) |
5501 Headquarters Drive
Plano,
Texas 75024
(Address of principal
executive offices and zip code)
(972) 801-1100
(Registrant’s telephone
number, including area code)
N/A
(Former name or former
address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425). |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12). |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)). |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)). |
Securities Registered Pursuant to Section 12(b) of the Act:
| Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
|
Common Stock, $.01 Par Value |
|
UPBD |
|
The Nasdaq Global Select Market
|
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
| If an emerging
growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with
any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨ |
Item 5.02 Departure of Directors or Certain
Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Appointment of New EVP - Chief Operating Officer
On September 22, 2026, Upbound Group, Inc.
(the “Company”) announced that Mr. Scott Young will join the Company as its Executive Vice President - Chief Operating
Officer effective September 22, 2026. Mr. Young will report directly to Mr. Fahmi Karam, Chief Executive Officer.
Mr. Young, age 60, has more than 30 years
of experience leading and scaling consumer financial services, fintech, payments, lending, and digital banking businesses. Most recently, he served as Senior Vice President and Global Head of Financial Services at PayPal, Inc., where he oversaw the company’s
buy now, pay later, debit and credit card, and savings businesses across 11 countries. Prior to joining PayPal, from 2023 to 2024, Mr. Young
served as Founder and Chief Executive Officer of Aisling Consulting, where he advised financial services, payments, and fintech companies
and served in fractional executive leadership and advisory roles. From 2022 to 2023, he served as Chief Executive Officer of iCreditWorks,
a lending technology platform focused on healthcare finance. From 2017 to 2022, he served as a Managing Director at Goldman Sachs and
held leadership positions within its Marcus digital banking business, including roles as Chief Commercial Officer and Chief Financial
Officer. Prior to Goldman Sachs, Mr. Young held senior leadership roles at Citigroup, Barclays, GE Capital, and MBNA. Mr. Young
received a bachelor’s degree from Georgetown University.
In connection with his appointment, the Company
entered into an offer letter with Mr. Young (the “Offer Letter”). Pursuant to the Offer Letter, Mr. Young
will receive (1) an annual base salary of $610,000, (2) an annual cash incentive bonus with a target opportunity equal to 60%
of Mr. Young’s base salary, with the first bonus pro-rated for length of service in 2026 and paid in the first quarter of 2027,
(3) a one-time sign-on equity award of Performance Stock Units valued at $3,111,000 under the Company’s Long-Term Incentive
Plan, granted on the first business day of the month following his start date and earned based on stock price hurdle attainment over a
four-year performance period, and, starting in February 2027, eligibility to participate in the Company’s Long-Term Incentive
Program with an annual award target equal to 170% of his base salary, and (4) eligibility to participate in benefit plans and programs
(e.g., medical, dental, vision, life insurance, disability, 401(k) with company match, and Deferred Compensation Plan) generally
provided to senior executives. Mr. Young will enter into an EVP Executive Transition Agreement with the Company upon his start date,
which provides specified payments and benefits upon an involuntary termination of employment, subject to the terms and conditions of the
Executive Transition Agreement.
There are no arrangements or understandings between
Mr. Young and any other persons pursuant to which he was selected as Executive Vice President - Chief Operating Officer, and Mr. Young
has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
Item 7.01 Regulation FD Disclosure.
On September 22, 2026, the Company issued
a press release announcing the appointment of a new Executive Vice President – Chief Operating Officer, as described in Item 5.02
in this Form 8-K. A copy of the press release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.
The information contained in this paragraph, as well as Exhibit 99.1 referenced herein, shall not be deemed “filed” for
purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under
the Securities Act of 1933.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits:
| Exhibit |
|
|
| No. |
|
Description |
| 99.1 |
|
Press
Release regarding the appointment of a new Chief Operating Officer, issued September 22, 2026 |
| |
|
|
| 104 |
|
Cover
Page Interactive Data File (formatted in Inline XBRL) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| |
UPBOUND GROUP, INC. |
| |
|
| Date: September 22, 2026 |
By: |
/s/ Christopher Pfirrman |
| |
|
Christopher Pfirrman |
| |
|
Executive Vice President, General Counsel |
Exhibit 99.1
Upbound Group
Names Scott Young as Chief Operating Officer and Dev Chakraborty as Head of Brigit
New leadership
appointments position Upbound to drive growth and operating efficiency across its entire portfolio of brands
PLANO, Texas--(BUSINESS WIRE)--September
22, 2026-- Upbound Group, Inc. (“Upbound” or the “Company”) (NASDAQ: UPBD), a technology and data-driven leader
in accessible and inclusive financial solutions that address the evolving needs and aspirations of underserved consumers, today announced
two additions to its executive leadership team. Scott Young has joined as Chief Operating Officer, a newly created role that will unify
business segments under a single leader, and Dev Chakraborty has joined as Senior Vice President and Head of Brigit. Both will be focused
on driving growth, cross-sell opportunities and serving our core underserved consumer with relevant products and services.
Scott Young Named Chief Operating
Officer
Mr. Young brings more than 30 years
of experience leading and scaling consumer financial services, payments and fintech businesses. He has been instrumental in some of the
largest partnerships across the payments and lending spaces for blue chip names around the world. Most recently, he served as SVP and
Global Head of Financial Solutions for PayPal and Venmo, leading the company’s consumer, commercial and SMB financial services
portfolio across 11 countries. Before that, he held senior leadership roles at Goldman Sachs, Citi, Barclays, GE Capital and MBNA, leading
businesses serving tens of millions of active customers. In the newly created Chief Operating Officer role, Mr. Young will lead the strategic
alignment and execution across Acima, Brigit and Rent-A-Center, enabling the businesses to function as a unified enterprise while driving
growth, positive commercial outcomes, and revenue generating synergies across all lines of business.
“I’m looking forward to
working with Fahmi and the broader team to build stronger alignment across our businesses,” said Scott Young, Chief Operating Officer
of Upbound Group. “My focus will be on driving growth and ensuring that all our brands work as one connected enterprise, holding
ourselves to the same high standard of execution across the business. I've built my career around scaling complex consumer financial
services businesses, and I'm looking forward to bringing that discipline to Upbound.”
Dev Chakraborty Named SVP, Head of
Brigit
Mr. Chakraborty brings more than 20
years of operating leadership across fintechs, credit cards, personal loans, marketplaces and data platforms. Most recently, he served
as General Manager of Cards, Mortgages and Data Partnerships at fintech MoneyLion. Prior to that, he was General Manager of Personal
Loans at Credit Karma, a business he grew to approximately $700 million in annual revenue, with additional roles at Landis Technologies,
Capital One and Barclays Financial.
“I’m excited and focused
on building on Brigit’s momentum alongside the rest of the extremely talented Brigit team,” said Dev Chakraborty, Senior
Vice President and Head of Brigit. “Brigit's subscribers have made it clear they want a financial partner they can trust, and the
discipline it took to reach approximately $300 million in annual recurring revenue and 1.8 million paying users reflects that trust.
We will be building on that success, combining with the Upbound ecosystem and focusing on what Brigit can bring to the millions of consumers
who come to us for their financial wellness tools.”
“Scott and Dev bring Upbound the
exact type of operational leadership and collaborative mindset needed for the Company as we continue to grow and scale,” said Fahmi
Karam, Chief Executive Officer of Upbound Group. “Scott has spent more than three decades running large, complex financial services
businesses, and his focus on cross-functional alignment and combining strategic vision with disciplined execution will help Acima, Brigit
and Rent-A-Center operate as one connected enterprise. Dev has a proven track record of fintech leadership at Money Lion and Credit Karma
delivering sustained growth and innovation. He will be an integral leader to achieve our growth targets and realize the synergies across
our consumer base. Together, they strengthen a leadership team focused on execution and on delivering long-term value for our customers,
partners, co-workers and shareholders.”
About Upbound Group, Inc.
Upbound Group, Inc. (NASDAQ: UPBD),
is a technology and data-driven leader in accessible and inclusive financial solutions that address the evolving needs and aspirations
of underserved consumers. The Company’s customer-facing operating units include industry-leading brands such as Acima®, Brigit™,
and Rent-A-Center® that facilitate consumer transactions across a wide range of store-based and digital channels, including over
2,300 company branded retail units across the United States, Mexico and Puerto Rico. Upbound Group, Inc. is headquartered in Plano, Texas.
For additional information about the Company, please visit our website Upbound.com.
Forward-Looking Statements
This release contains forward-looking
statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including, among others, statements regarding
the anticipated benefits of the leadership appointments, our integration and synergy expectations across our brands, our growth targets,
and our growth strategies. Such forward-looking statements generally can be identified by the use of forward-looking terminology such
as "may," "will," "expect," "intend," "could," "estimate," "predict,"
"continue," “maintain,” "should," "anticipate," "believe," or “confident,”
or the negative thereof or variations thereon or similar terminology. Such forward-looking statements are based on particular assumptions
that our management has made in light of its experience and its perception of expected future developments and other factors that it
believes are appropriate under the circumstances, and are subject to various risks and uncertainties. Factors that could cause or contribute
to material and adverse differences between actual and anticipated results include, but are not limited to, (1) the general strength
of the economy and other economic conditions affecting consumer preferences, spending and payment behaviors, and (2) the other risks
detailed from time to time in the reports filed by us with the Securities and Exchange Commission, including our Annual Report on Form
10-K for the year ended December 31, 2025, as well as subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. You are
cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this release. Except as required
by law, we are not obligated to, and do not undertake to, publicly release any revisions to these forward-looking statements to reflect
any events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Upbound Investor Relations:
investor.relations@upbound.com
972-624-6571
