Pra Group Inc 8-K, filed Jun 14, 2021
Pra Group Inc (PRAA)
8-K
2021-06-14
For: 2021-06-10
View Original
Added on
April 07, 2026
About this 8-K
Pra Group Inc filed this 8-K on June 14, 2021, reporting on events of June 10, 2021.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 5.07: Shareholder vote results
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(d) On June 10, 2021, the Board of Directors (the “Board”) of PRA Group, Inc. (the “Company”) elected Peggy P. Turner as an independent director effective the same day with a term expiring at the Company’s 2022 Annual Meeting of Stockholders. The Board also appointed Ms. Turner to the Nominating and Corporate Governance Committee and the Risk Committee. Ms. Turner will receive compensation for her services as an independent director in accordance with the Company’s standard compensation program for non-executive directors, which was previously disclosed in the Company’s Proxy Statement for the 2021 Annual Meeting of Stockholders (“Annual Meeting”) that was filed with the Securities and Exchange Commission on April 28, 2021.
Ms. Turner has no family relationships with any of the Company’s executive officers or directors. There are no arrangements or understandings between Ms. Turner and any other person pursuant to which she was appointed as a director, nor have there been any transactions in the past two years to which the Company or any of its subsidiaries was or is to be a party, in which she had or has an interest requiring disclosure under Item 404(a) of Regulation S-K of the Securities Exchange Act of 1934, as amended.
On June 14, 2021, the Company issued a press release regarding Ms. Turner’s election to the Board. A copy of the Company’s press release is attached as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference.
Item 5.07 Submission of Matters to a Vote of Security Holders
(a) and (b) At the Annual Meeting, the Company’s stockholders voted as follows on the matters set forth below:
1.Election of Directors. The Company’s stockholders elected the following nominees to serve as directors until the 2022 Annual Meeting or until their successors are duly elected and qualified based upon the following votes:
| For | Against | Broker Non-Vote | |||||||||
| Vikram A. Atal | 41,753,283 | 128,316 | 1,143,490 | ||||||||
| Danielle M. Brown | 41,685,620 | 195,979 | 1,143,490 | ||||||||
| Marjorie M. Connelly | 41,754,572 | 127,027 | 1,143,490 | ||||||||
| John H. Fain | 41,023,134 | 858,465 | 1,143,490 | ||||||||
| Steven D. Fredrickson | 41,228,938 | 652,661 | 1,143,490 | ||||||||
| James A. Nussle | 39,736,198 | 2,145,401 | 1,143,490 | ||||||||
| Brett L. Paschke | 41,753,611 | 127,988 | 1,143,490 | ||||||||
| Kevin P. Stevenson | 41,516,837 | 364,762 | 1,143,490 | ||||||||
| Scott M. Tabakin | 40,056,955 | 1,824,644 | 1,143,490 | ||||||||
| Lance L. Weaver | 41,242,998 | 638,601 | 1,143,490 | ||||||||
2.Ratification of the Appointment of KPMG LLP. The Company’s stockholders ratified the appointment of KPMG LLP as the Company’s independent registered public accounting firm for the year ending December 31, 2021 based upon the following votes:
| For | Against | Abstain | ||||||
| 42,793,967 | 228,461 | 2,661 | ||||||
3.Advisory Vote on Named Executive Officer Compensation. The Company’s stockholders approved the advisory vote on the compensation of the Company’s named executive officers (“Say-on-Pay”) based upon the following votes:
| For | Against | Abstain | ||||||
| 40,284,110 | 1,576,422 | 21,066 | ||||||
Item 9.01 Financial Statements and Exhibits
| (d) | Exhibits | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURE
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.
| PRA Group, Inc. | ||||||||
| Date: June 14, 2021 | By: | /s/ Peter M. Graham | ||||||
| Peter M. Graham | ||||||||
| Executive Vice President and Chief Financial Officer | ||||||||
Exhibit 99.1
PRA Group Appoints Peggy Turner to Board of Directors
NORFOLK, Va., June 14, 2021 — PRA Group, Inc. (Nasdaq: PRAA), a global leader in acquiring and collecting nonperforming loans, announced today that Peggy Turner was appointed to the Company’s Board of Directors effective June 10, 2021. Turner, who is independent, will serve on the Risk Committee and Nominating and Corporate Governance Committee.
Turner is currently Vice President, Guest Retention at Toyota Motors North America (“Toyota Motors”), a position she has held since 2020. From 1991 to 2020, she held multiple positions with increasing responsibilities at Toyota Motors including Vice President, Lexus Customer Satisfaction and Vice President, Toyota Customer Relations. Turner is also a champion of diversity, equity and inclusion (“DEI”) at Toyota Motors, serving as the executive advisor to Social Innovation, a diversity and inclusion support member on the Diversity Advisory Board, and the Executive Sponsor of the Latino Employee Resource Group. She has also represented Lexus at events such as Women in Automotive Summit and Women Panel for New York Auto Show and coordinated and served as a mentor for the national field women’s support group. Turner earned a Bachelor of Arts in Economics from the University of California, Irvine, and a Master of Business Administration from Loyola Marymount University.
“I am pleased to welcome Peggy to our Company’s Board of Directors. Peggy brings extensive experience in leadership roles focused on customer service, which will bolster our long-standing principle of treating customers with empathy and respect. Additionally, Peggy’s history of supporting and leading diversity and inclusion efforts will strengthen our continued focus on DEI,” said Steve Fredrickson, chairman of the Board of Directors. “As a result of our commitment to diversity at the highest level of our organization, PRA was recently recognized by 50/50 Women on Boards for being a “3+” Corporation with 3 or more women on the board of directors.”
The Company has also expanded its environmental, social and governance (“ESG”) disclosures by publishing its first ESG Tear Sheet for the year 2020. More information can be found on the investor page of the Company’s website, ir.pragroup.com.
About PRA Group, Inc.
As a global leader in acquiring and collecting nonperforming loans, PRA Group, Inc. returns capital to banks and other creditors to help expand financial services for consumers in the Americas, Europe and Australia. With thousands of employees worldwide, PRA Group, Inc. companies collaborate with customers to help them resolve their debt. For more information, please visit www.pragroup.com.
Investor Contact:
Darby Schoenfeld, CPA
Vice President, Investor Relations
(757) 431-7913
Darby.Schoenfeld@PRAGroup.com
News Media Contact:
Elizabeth Kersey
Senior Vice President, Communications and Public Policy
(757) 431-3398
Elizabeth.Kersey@PRAGroup.com