<SEC-DOCUMENT>0001193125-18-000451.txt : 20180102
<SEC-HEADER>0001193125-18-000451.hdr.sgml : 20180102
<ACCEPTANCE-DATETIME>20180102133502
ACCESSION NUMBER:		0001193125-18-000451
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20171228
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180102
DATE AS OF CHANGE:		20180102

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:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38047
		FILM NUMBER:		18501085

	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>8-K
<SEQUENCE>1
<FILENAME>d483896d8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<TITLE>Form 8-K</TITLE>
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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:4pt; 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:8pt;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:8pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">8-K</FONT> </B></P> <P STYLE="font-size:8pt;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:8pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT REPORT
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant to Section&nbsp;13 or 15(d) </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported): </B></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>December&nbsp;28, 2017 </B></P> <P STYLE="font-size:8pt;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:8pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B><FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Rent-A-Center,</FONT></FONT> Inc. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact Name of Registrant as Specified
in Charter) </B></P> <P STYLE="font-size:8pt;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="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">001-38047</FONT></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">45-0491516</FONT></B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or other jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of incorporation)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(IRS Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
</TABLE> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>5501 Headquarters Drive </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Plano, Texas 75024 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principal executive offices, including zip code) </B></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(972) <FONT STYLE="white-space:nowrap">801-1100</FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Registrant&#146;s telephone number including area code) </B></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Not Applicable </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former
name or former address if changed since last report) </B></P> <P STYLE="font-size:8pt;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:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below
if the Form <FONT STYLE="white-space:nowrap">8-K</FONT> filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule <FONT STYLE="white-space:nowrap">14a-12</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.14a-12)</FONT> </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT STYLE="white-space:nowrap">14d-2(b)</FONT> under the Exchange Act (17 CFR
<FONT STYLE="white-space:nowrap">240.14d-2(b))</FONT> </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT STYLE="white-space:nowrap">13e-14(c)</FONT> under the Exchange Act (17 CFR
<FONT STYLE="white-space:nowrap">240.13e-14(c))</FONT> </TD></TR></TABLE> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant is an emerging growth company as
defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule <FONT STYLE="white-space:nowrap">12b-2</FONT> of the Securities Exchange Act of 1934 (&#167; <FONT STYLE="white-space:nowrap">240.12b-2</FONT> of this
chapter). </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Emerging growth company&nbsp;&nbsp;&#9744; </P> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">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&nbsp;13(a) of the Exchange
Act.&nbsp;&nbsp;&#9744; </P> <P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <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>

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<TD WIDTH="12%" VALIGN="top" ALIGN="left"><B>Item&nbsp;5.02</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers. </B></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Effective as of December&nbsp;30, 2017, Mark E. Speese resigned his position as Chief Executive Officer of <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">Rent-A-Center,</FONT></FONT> Inc. (the &#147;Company&#148;). Mr.&nbsp;Speese is entitled to certain payments and benefits under his current employment agreement with the Company, including: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
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<TD ALIGN="left" VALIGN="top">any earned but unpaid base salary; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">unreimbursed business expenses; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">any unpaid cash incentive compensation earned as of December&nbsp;30, 2017. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with
Mr.&nbsp;Speese&#146;s resignation, the Board of Directors of the Company (the &#147;Board&#148;) has named Mitchell E. Fadel, a current member of the Board, to serve as Chief Executive Officer of the Company. Mr.&nbsp;Fadel will continue his role
as a member of the Board. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Fadel, age 60, was self-employed prior to joining the Company after most recently serving as President &#150; U.S.
Pawn for EZCORP, Inc., a leading provider of pawn loans in the United States and Mexico, from September 2015 to December 2016. Prior to that, Mr.&nbsp;Fadel served as President of the Company (beginning in July 2000) and Chief Operating Officer
(beginning in December 2002) each until August 2015, and also as a director of the Company from December 2000 to November 2013. From 1992 until 2000, Mr.&nbsp;Fadel served as President and Chief Executive Officer of the Company&#146;s subsidiary <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Rent-A-Center</FONT></FONT> Franchising International, Inc. f/k/a ColorTyme, Inc. Mr.&nbsp;Fadel&#146;s professional experience with the Company also includes previously serving as a
Regional Director and a District Manager. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with the appointment of Mr.&nbsp;Fadel as Chief Executive Officer of the Company, he and the
Company have agreed that his annual base salary will be $800,000, and Mr.&nbsp;Fadel will be eligible to participate in the Company&#146;s cash bonus and equity compensation programs. Mr.&nbsp;Fadel&#146;s target annual cash bonus will be 100% of
his annual base salary. Mr.&nbsp;Fadel&#146;s annual equity compensation, the amount of which will be determined by the Board at a later date, shall be paid consistent with the equity compensation paid to executive officers of the Company, as
described in the Company&#146;s Proxy Statement for the 2017 Annual Meeting of Stockholders. Further, the Company has agreed to enter into a change in control arrangement with Mr.&nbsp;Fadel, under which he would receive a <FONT
STYLE="white-space:nowrap">one-time</FONT> payment equal to his annual base salary if a change in control involving the Company occurs. In addition to the foregoing, Mr.&nbsp;Fadel will also be eligible to participate in benefit plans and programs
(e.g., medical, dental, life insurance and 401(k)) that the Company provides generally to comparable senior executives. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="12%" VALIGN="top" ALIGN="left"><B>Item&nbsp;8.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Other Events. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On January&nbsp;2, 2018, the Company issued a press release announcing the resignation of
Mr.&nbsp;Speese and appointment of Mr.&nbsp;Fadel as Chief Executive Officer of the Company. A copy of this press release is attached to this Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> as Exhibit 99.1 and incorporated herein
by this reference. </P>

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<TD WIDTH="12%" VALIGN="top" ALIGN="left"><B>Item&nbsp;9.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Financial Statements and Exhibits </B></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top">The following exhibits are being filed herewith: </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="92%"></TD></TR>
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<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:23.50pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Exhibit<BR>No.</P></TD>
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<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:37.25pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Description</P></TD></TR>


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<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d483896dex991.htm">Press Release issued on January&nbsp;2, 2018 by <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Rent-A-Center,</FONT></FONT> Inc. </A></TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">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. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">RENT-A-CENTER,</FONT></FONT> INC.</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date: January&nbsp;2, 2018</TD>
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<TD VALIGN="top">By:</TD>
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<TD VALIGN="top"> <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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Dawn M. Wolverton</P></TD></TR>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
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<TD VALIGN="top">Dawn M. Wolverton</TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B><U>Exhibit 99.1 </U></B></P>
<P STYLE="margin-top:12pt; 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><FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">RENT-A-CENTER</FONT></FONT> ANNOUNCES CEO TRANSITION </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>Mitch Fadel
Appointed CEO Succeeding Mark Speese </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>Strategic Alternatives Review Process Ongoing; </I></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>Company Remains Focused on Plan to Restore Growth and Improve Profitability </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>PLANO, Texas&#151;January 2, 2018&#151;</B> <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Rent-A-Center,</FONT></FONT> Inc.
(NASDAQ/NGS:RCII) <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">(&#147;Rent-A-Center&#148;</FONT></FONT> or the &#147;Company&#148;), a leader in the
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">rent-to-own</FONT></FONT> industry, today announced that Mitchell E. Fadel, the Company&#146;s former President and Chief Operating Officer and a current member of its Board of
Directors, has been appointed as Chief Executive Officer, effective immediately. Mr.&nbsp;Fadel&#146;s appointment follows Mark E. Speese&#146;s decision to resign as CEO. Mr.&nbsp;Fadel will continue his role as a member of the Board. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company also reiterated its commitment to its previously announced strategic review process. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;On behalf of the entire Board, I want to thank Mark for his decades of dedication and service to <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">Rent-A-Center,&#148;</FONT></FONT> said J.V. Lentell, Chairman of the <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Rent-A-Center</FONT></FONT> Board of Directors. &#147;Mark is a true pioneer in the <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">rent-to-own</FONT></FONT> business, having founded this company and leading <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Rent-A-Center</FONT></FONT> to its position as
industry leader. On behalf of the entire Board of Directors, management team and <FONT STYLE="white-space:nowrap">co-workers</FONT> throughout the Company, we thank Mark for his countless contributions to <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">Rent-A-Center</FONT></FONT> and wish him all the best in the future.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;It has been a privilege to help lead <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Rent-A-Center</FONT></FONT> over so many years, and I am proud to have helped build such a talented and hard-working team,&#148; said Mr.&nbsp;Speese. &#147;With the Company having entered
its current transitional phase, and the improvements in the Company&#146;s portfolio as reported over the past several months, I believe now is an appropriate time for me to move on from the Company.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Lentell continued, &#147;As we continue the strategic review process and move with urgency to improve performance, we are fortunate to have a leader
of Mitch&#146;s caliber assume the role of CEO. He has previously spent more than 30 years in various positions at <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Rent-A-Center,</FONT></FONT> most recently as President and COO, and
we are grateful for his willingness to take on this important new role.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;I am honored to have the opportunity to rejoin the talented <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Rent-A-Center</FONT></FONT> leadership team and excited about the significant opportunity ahead for the Company,&#148; said Mr.&nbsp;Fadel. &#147;I look forward to working closely with the
Board and management at <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Rent-A-Center</FONT></FONT> on their continuing efforts to deliver improved financial performance and enhancing stockholder value.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As previously announced on October&nbsp;30, 2017, the <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Rent-A-Center</FONT></FONT> Board of
Directors has initiated a process to explore strategic and financial alternatives and, with its independent financial and legal advisors, is carefully considering a full range of options focused on maximizing stockholder value. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Mitchell E. Fadel </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mitchell E. Fadel most recently
served as President &#150; U.S. Pawn for EZCORP, Inc., a leading provider of pawn loans in the United States and Mexico, from September 2015 to December 2016. Prior to that, Mr.&nbsp;Fadel served as President of <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">Rent-A-Center</FONT></FONT> (beginning in July 2000) and Chief Operating Officer </P>

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(beginning in December 2002) each until August 2015, and also as a director from December 2000 to November 2013. From 1992 until 2000, Mr.&nbsp;Fadel served as President and Chief Executive
Officer of <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Rent-A-Center&#146;s</FONT></FONT> subsidiary <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Rent-A-Center</FONT></FONT> Franchising International, Inc.
f/k/a ColorTyme, Inc. Mr.&nbsp;Fadel&#146;s professional experience with <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Rent-A-Center</FONT></FONT> also includes previously serving as a Regional Director and a District Manager.
</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Rent-A-Center,</FONT></FONT> Inc. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">rent-to-own</FONT></FONT> industry leader, Plano, Texas-based, <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Rent-A-Center,</FONT></FONT> 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 stores in the United States, Mexico, Canada and Puerto Rico, and
Acceptance NOW kiosk locations in the United States and Puerto Rico. <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Rent-A-Center</FONT></FONT> Franchising International, Inc., a wholly owned subsidiary of the Company, is a
national franchiser of <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">rent-to-own</FONT></FONT> stores operating under the trade names of
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">&#147;Rent-A-Center,&#148;</FONT></FONT> &#147;ColorTyme,&#148; and &#147;RimTyme.&#148; For additional information about the Company, please visit our website at www.rentacenter.com.
</P> <P STYLE="margin-top:18pt; 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">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;&nbsp;&#147;believe,&#148;&nbsp;or &#147;confident,&#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; uncertainties concerning the outcome, impact, effects and results of the Company&#146;s exploration of its strategic
and financial alternatives; difficulties encountered in improving the financial and operational performance of the Company&#146;s business segments; the Company&#146;s chief executive officer and chief financial officer transitions, including the
Company&#146;s ability to effectively operate and execute its strategies during the interim period and difficulties or delays in identifying and/or attracting a permanent chief financial officer with the required level of experience and expertise;
failure to manage the Company&#146;s store labor and other store expenses; the Company&#146;s ability to develop and successfully execute strategic initiatives; disruptions caused by the operation of the Company&#146;s store information management
system, and its transition to more-readily scalable, &#147;cloud-based&#148; solutions; the Company&#146;s ability to develop and successfully implement digital or <FONT STYLE="white-space:nowrap">E-commerce</FONT> capabilities, including mobile
applications; 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 </P>

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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 <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">Rent-to-Own</FONT></FONT> 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 the Company&#146;s dividend policy and any changes thereto, 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&nbsp;SEC&nbsp;reports, including but not limited to, its Annual Report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the year
ended&nbsp;December 31, 2016, and its Quarterly Reports on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> for the quarters ended March&nbsp;31, 2017, June&nbsp;30, 2017, and September&nbsp;30, 2017. 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. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Investors</B>: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Maureen Short, <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">972-801-1899</FONT></FONT> </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"><U>maureen.short@rentacenter.com
</U></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Media</B>: </P>
<P STYLE="margin-top:6pt; 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">James Golden / Matthew
Gross / Aura Reinhard </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">212-355-4449</FONT></FONT> </P>
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