Upbound Group, Inc 8-K, filed Sep 22, 2026
Upbound Group, Inc. (UPBD)
About this 8-K
Upbound Group, Inc filed this 8-K on September 22, 2026.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report:
(Date of earliest event reported)
(Exact name of registrant as specified in charter)
(State or other jurisdiction of incorporation or organization) |
(Commission File Number) |
(IRS Employer Identification No.) |
(Address of principal executive offices and zip code)
(
(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 | ||
|
|
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