<SEC-DOCUMENT>0001193125-17-054240.txt : 20170224
<SEC-HEADER>0001193125-17-054240.hdr.sgml : 20170224
<ACCEPTANCE-DATETIME>20170223174056
ACCESSION NUMBER:		0001193125-17-054240
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20170224
DATE AS OF CHANGE:		20170223
EFFECTIVENESS DATE:		20170224

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			RENT A CENTER INC DE
		CENTRAL INDEX KEY:			0000933036
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-EQUIPMENT RENTAL & LEASING, NEC [7359]
		IRS NUMBER:				450491516
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-25370
		FILM NUMBER:		17633899

	BUSINESS ADDRESS:	
		STREET 1:		5501 HEADQUARTERS DRIVE
		CITY:			PLANO
		STATE:			TX
		ZIP:			75024
		BUSINESS PHONE:		972-801-1100

	MAIL ADDRESS:	
		STREET 1:		5501 HEADQUARTERS DRIVE
		CITY:			PLANO
		STATE:			TX
		ZIP:			75024

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RENTERS CHOICE INC
		DATE OF NAME CHANGE:	19941128
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
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<FILENAME>d343642ddefa14a.htm
<DESCRIPTION>DEFA14A
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SCHEDULE 14A
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Proxy Statement Pursuant to Section 14(a) of the </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Securities Exchange Act of 1934 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Filed by the
registrant&nbsp;&nbsp;&#9746; </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Filed by a party other than the registrant&nbsp;&nbsp;&#9744;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom">Preliminary proxy statement</TD></TR>
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<TD VALIGN="bottom"><B>Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</B></TD></TR>
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<TD VALIGN="bottom">Definitive proxy statement</TD></TR>
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<TD VALIGN="bottom">Definitive additional materials</TD></TR>
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<TD VALIGN="bottom">Soliciting material pursuant to Rule 14a-11(c) or Rule 14a-12</TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:22pt; font-family:Times New Roman" ALIGN="center"><B>Rent-A-Center, Inc. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Name of Registrant as Specified In Its Charter) </B></P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Name of Person(s) Filing Proxy Statement, if other than the Registrant) </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Payment of filing fee (Check the appropriate box): </P>
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<TD VALIGN="top" COLSPAN="3">Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11.</TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Title of each class of securities to which transaction applies:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing
fee is calculated and state how it was determined):</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Proposed maximum aggregate value of transaction:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
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<TD VALIGN="top" COLSPAN="3">Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement
number, or the form or schedule and the date of its filing.</TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Filing party:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>FOR IMMEDIATE RELEASE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Rent-A-Center, Inc. Confirms Receipt of Director Nominations from Engaged Capital </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>No Stockholder Action Required at this Time </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>PLANO, Texas,&nbsp;February 23, 2017</B> &#151; Rent-A-Center, Inc. (NASDAQ/NGS:RCII) (&#147;Rent-A-Center&#148; or the &#147;Company&#148;), the
nation&#146;s largest rent-to-own operator, today confirmed that Engaged Capital, LLC (&#147;Engaged Capital&#148;) has provided notice of its intent to nominate five individuals to stand for the three available positions up for election to the
Rent-A-Center Board of Directors at the Company&#146;s 2017 Annual Meeting of Stockholders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Rent-A-Center Board and management team are committed to
taking actions in the best interests of all stockholders. The entire Board is mindful of its fiduciary duties and regularly considers all value-enhancing opportunities. To that end, and at the direction of the Board, the Rent-A-Center management
team is taking decisive and immediate action to drive operational improvements at the Company in the near term. In addition, the Board continues to evaluate a number of cost-saving and revenue-driving opportunities, which are expected to generate
increased value for all Rent-A-Center stockholders over the long term. The Board will continue to oversee the execution of these value-enhancing initiatives to ensure the Company is positioned as a stronger, more competitive and profitable
organization. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company&#146;s capital structure, including debt and equity financing initiatives, is overseen by the Board&#146;s Finance Committee.
This standing Committee is led by an independent director and is majority-composed of independent directors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Rent-A-Center Board comprises seven
highly qualified directors, a majority of whom are independent, all of whom are actively engaged and possess strong retail, finance, marketing, technology, strategic planning and C-suite expertise critical to Rent-A-Center&#146;s business. The
Nominating and Corporate Governance Committee regularly reviews the composition and size of the Board in order to ensure that the Board has the appropriate expertise, that its membership consists of persons with excellent backgrounds and
qualifications and that it operates in the best interests of all stockholders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Rent-A-Center Board and its Nominating and Corporate Governance
Committee will review Engaged Capital&#146;s proposed nominees and present the Board&#146;s recommendation in the Company&#146;s definitive proxy materials. These materials will be filed with the Securities and Exchange Commission and mailed to all
stockholders eligible to vote at the 2017 Annual Meeting. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The date of the Company&#146;s 2017 Annual Meeting has not yet been announced. Rent-A-Center
stockholders are not required to take action at this time. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">J.P. Morgan is serving as financial advisor and Winston&nbsp;&amp; Strawn LLP is serving as
legal advisor to Rent-A-Center. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Rent-A-Center, Inc. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A rent-to-own industry leader, Plano, Texas-based, Rent-A-Center, Inc., is focused on improving the quality of life for its customers by providing them the
opportunity to obtain ownership of high-quality, durable products such as consumer electronics, appliances, computers, furniture and accessories, under flexible rental purchase agreements with no long-term obligation. The Company owns and operates
approximately 2,600 stores in the United States, Mexico, Canada and Puerto Rico, and approximately 1,870 Acceptance Now kiosk locations in the United States and Puerto Rico. Rent-A-Center Franchising International, Inc., a wholly owned subsidiary of
the Company, is a national franchiser of approximately 230 rent-to-own stores operating under the trade names of &#147;Rent-A-Center,&#148; &#147;ColorTyme,&#148; and &#147;RimTyme.&#148; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Forward-Looking Statements </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>This press release and the guidance above contain forward-looking statements that involve risks and uncertainties. Such forward-looking statements generally
can be identified by the use of forward-looking terminology such as &#147;may,&#148; &#147;will,&#148; &#147;expect,&#148; &#147;intend,&#148; &#147;could,&#148; &#147;estimate,&#148; &#147;should,&#148; &#147;anticipate,&#148; or
&#147;believe,&#148; or the negative thereof or variations thereon or similar terminology. The Company believes that the expectations reflected in such forward-looking statements are accurate. However, there can be no assurance that such
expectations will occur. The Company&#146;s actual future performance could differ materially from such statements. Factors that could cause or contribute to such differences include, but are not limited to: the general strength of the economy and
other economic conditions affecting consumer preferences and spending; factors affecting the disposable income available to the Company&#146;s current and potential customers; changes in the unemployment rate; difficulties encountered in improving
the financial and operational performance of the Company&#146;s business segments; our chief executive officer and chief financial officer transitions, including our ability to effectively operate and execute our strategies during the interim period
and difficulties or delays in identifying and attracting a permanent chief executive officer and chief financial officer, each with the required level of experience and expertise; failure to manage the Company&#146;s store labor (including overtime
pay) and other store expenses; the Company&#146;s ability to develop and successfully execute strategic initiatives; disruptions caused by the implementation and operation of the Company&#146;s new store information management system, including
capacity-related outages; the Company&#146;s ability to successfully market smartphones and related services to its customers; the Company&#146;s ability to develop and successfully implement virtual or e-commerce capabilities; failure to achieve
the anticipated profitability enhancements from the changes to the 90 day option pricing program and the development of dedicated commercial sales capabilities; disruptions in the Company&#146;s supply chain; limitations of, or disruptions in, the
Company&#146;s distribution network; rapid inflation or deflation in the prices of the Company&#146;s products; the Company&#146;s ability to execute and the effectiveness of a store consolidation, including the Company&#146;s ability to retain the
revenue from customer accounts merged into another store location as a result of a store consolidation; the Company&#146;s available cash flow; the Company&#146;s ability to identify and successfully market products and services that appeal to its
customer demographic; consumer preferences and perceptions of the Company&#146;s brand; uncertainties regarding the ability to open new locations; the Company&#146;s ability to acquire additional stores or customer accounts on favorable terms; the
Company&#146;s ability to control costs and increase profitability; the Company&#146;s ability to retain the revenue associated with acquired customer accounts and enhance the performance of acquired stores; the Company&#146;s ability to enter into
new and collect on its rental or lease purchase agreements; the passage of legislation adversely affecting the rent-to-own industry; the Company&#146;s compliance with applicable statutes or regulations governing its transactions; changes in
interest rates; adverse changes in the economic conditions of the industries, countries or markets that the Company serves; information technology and data security costs; the impact of any breaches in data security or other disturbances to the
Company&#146;s information technology and other networks and the Company&#146;s ability to protect the integrity and security of individually identifiable data of its customers and employees; changes in the Company&#146;s stock price, the number of
shares of common stock that it may or may not repurchase, and future dividends, if any; changes in estimates relating to self-insurance liabilities and income tax and litigation reserves; changes in the Company&#146;s effective tax rate;
fluctuations in foreign currency exchange rates; the Company&#146;s ability to maintain an effective system of internal controls; the resolution of the Company&#146;s litigation; and the other risks detailed from time to time in the Company&#146;s
SEC reports, including but not limited to, its Annual Report on Form 10-K for the year ended December&nbsp;31, 2015, and its Quarterly Reports on Form 10-Q for the quarters ended March&nbsp;31, 2016,&nbsp;June&nbsp;30, 2016, and September&nbsp;30,
2016. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by law, the Company is not obligated to publicly release any revisions to these
forward-looking statements to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. </I></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Contacts for Rent-A-Center, Inc.: </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Investors: </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Maureen Short </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Interim Chief Financial Officer </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">972-801-1899 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">maureen.short@rentacenter.com </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Okapi Partners LLC </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Bruce Goldfarb / Pat McHugh / Teresa Huang
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">212-297-0720 </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Media: </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Joele Frank, Wilkinson Brimmer Katcher </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Kelly Sullivan / James
Golden / Matt Gross / Aura Reinhard </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">212-355-4449 </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Additional Information and Where to Find It </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Rent-A-Center intends to file a proxy statement with the U.S. Securities and Exchange Commission (the &#147;SEC&#148;) with respect to its 2017 Annual
Meeting.<B> Rent-A-Center stockholders are strongly encouraged to read any such proxy statement, the accompanying [white] proxy card and other documents filed with the SEC carefully in their entirety when they become available because they will
contain important information</B>. Stockholders will be able to obtain any proxy statement, any amendments or supplements to the proxy statement and other documents filed by Rent-A-Center with the SEC free of charge at the SEC&#146;s website at
<U>www.sec.gov</U>. Copies also will be available free of charge at Rent-A-Center&#146;s website at www.rentacenter.com or by contacting Rent-A-Center&#146;s Investor Relations at 972-801-1100. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Rent-A-Center, its directors, executive officers and other employees may be deemed to be participants in the solicitation of proxies from Rent-A-Center
stockholders in connection with the matters to be considered at Rent-A-Center&#146;s 2017 Annual Meeting. Information about certain current Rent-A-Center&#146;s directors and executive officers is available in Rent-A-Center&#146;s proxy statement,
dated April&nbsp;18, 2016, for its 2016 Annual Meeting. To the extent holdings of Rent-A-Center&#146;s securities by such directors or executive officers have changed since the amounts printed in the 2016 proxy statements, such changes have been or
will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. More detailed information regarding the identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, will be set
forth in the proxy statement and other materials to be filed with the SEC in connection with Rent-A-Center&#146;s 2017 Annual Meeting. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>

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