AARON'S INC : Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing, Material Modification to Rights of Security Holders, Change in Directors or Principal Officers, Financial Statements and Exhibits (form 8-K)

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or

           Standard; Transfer of Listing

The disclosure in Item 3.03 is incorporated herein by reference.

In connection with the holding company formation, Aaron's notified the New York Stock Exchange ("NYSE") that the holding company formation had been completed and requested that trading of its shares of common stock be suspended prior to the market opening on October 19, 2020. On October 16, 2020, the NYSE is expected to suspend trading of the Aaron's shares after the close of business. On October 19, 2020, HoldCo shares are expected to commence trading on the NYSE under the symbol "AAN". In addition, the NYSE has informed Aaron's that it will file with the Securities and Exchange Commission (the "SEC") a notification on Form 25 to remove the common stock of Aaron's that had been listed on the NYSE from listing by Aaron's on the NYSE and from registration under Section 12(b) of the Exchange Act.

Item 3.03. Material Modification to Rights of Security Holders.

On October 16, 2020, Aaron's completed the holding company formation. In the holding company formation, Aaron's became a direct, wholly owned subsidiary of HoldCo and thereafter converted to a limited liability company. The holding company formation was effected through a merger pursuant to an Agreement and Plan of Merger (the "Merger Agreement"), dated May 1, 2020, among Aaron's, HoldCo and Aaron's Merger Sub, Inc., a Georgia corporation ("Merger Sub"). Pursuant to the terms of the Merger Agreement, at the effective time of the Merger (the "Effective Time"), Merger Sub merged with and into Aaron's and the separate corporate existence of Merger Sub ceased (the "Merger"), with Aaron's as the surviving corporation in the Merger and continuing its existence as a direct, wholly owned subsidiary of HoldCo.

At the Effective Time, each outstanding share of Aaron's common stock issued and outstanding immediately prior to the Effective Time automatically converted into one share of HoldCo common stock. HoldCo is incorporated in the State of Georgia, as is Aaron's. The rights of shareholders of HoldCo are generally governed by Georgia law and HoldCo's articles of incorporation and bylaws, which are the same in all material respects as those of Aaron's. Therefore, the rights of a HoldCo shareholder are substantially similar as to the rights of an Aaron's shareholder immediately prior to the holding company formation. The holding company formation is described in more detail in the joint proxy statement/prospectus filed by HoldCo with the SEC on May 8, 2020, which description is incorporated by reference herein.

In connection with the holding company formation, and pursuant to an Assumption Agreement, dated as of October 16, 2020 (the "Assumption Agreement"), HoldCo assumed Aaron's currently effective registration statements and assumed, and agreed to perform all obligations of Aaron's under, the Amended and Restated Aaron Rents, Inc. 2001 Stock Option and Incentive Award Plan (the "2001 Stock Option and Incentive Award Plan"), the Aaron's, Inc. Amended and Restated 2015 Equity and Incentive Award Plan (the "2015 Equity and Incentive Award Plan") and assumed sponsorship of, and agreed to perform all obligations under, the Aaron's, Inc. Employee Stock Purchase Plan (the "ESPP"), the Aaron's, Inc. Employees Retirement Plan (the "Retirement Plan"), the Aaron's, Inc. Deferred Compensation Plan (the "Deferred Compensation Plan") and the Aaron's, Inc. Amended and Restated Compensation Plan for Non-Employee Directors (the "Director Plan"). As a result, this will allow (i) HoldCo to grant awards of HoldCo common stock under the 2015 Equity and Incentive Award Plan to eligible employees and other service providers, including employees of Aaron's, (ii) eligible employees of HoldCo and its subsidiaries (including Aaron's) to continue to participate in the ESPP (and purchase HoldCo common stock), the Retirement Plan (and invest in HoldCo common stock) and the Deferred Compensation Plan and (iii) non-employee directors of

--------------------------------------------------------------------------------

HoldCo to participate in the Director Plan. Outstanding equity awards under the 2001 Stock Option and Incentive Award Plan and the 2015 Equity and Incentive Award Plan will continue in effect in accordance with the terms and conditions of the applicable plan and award agreement, including the same exercise price (if applicable), except that the shares of common stock issuable under each such equity award will be shares of HoldCo common stock. In addition, each participant eligible to purchase a share of Aaron's common stock under the ESPP will automatically be eligible to purchase a share of HoldCo common stock and otherwise, the same terms and conditions of the ESPP will apply.

At the Effective Time, the following plans were each amended and restated in connection with the holding company formation to effectuate HoldCo's assumption of such plans and, among other things, to provide that references to Aaron's be changed to refer to HoldCo and references to Aaron's common stock be changed to refer to HoldCo common stock: the 2015 Equity and Incentive Award Plan, the ESPP, the Deferred Compensation Plan and the Director Plan. In addition, the Retirement Plan and the 2001 Stock Option and Incentive Award Plan were amended to reflect HoldCo's assumption thereof.

The foregoing descriptions of the Merger Agreement, Assumption Agreement, the 2015 Equity and Incentive Award Plan (as amended and restated), the ESPP (as amended and restated), the Retirement Plan (as amended), the Deferred Compensation Plan (as amended and restated), the Director Plan (as amended and restated), and the 2001 Stock Option and Incentive Award Plan (as amended) are qualified in their entirety by the terms of such agreements, which are filed hereto as Exhibits 2.1, 10.1, 10.2, 10.3, 10.4, 10.5, 10.6 and 10.7 respectively, and incorporated herein by reference.

Item 5.02. Departure of Directors or Certain Officers; Election of Directors;

           Appointment of Certain Officers; Compensatory Arrangements of Certain
           Officers.

The disclosure in Item 3.03 is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits

Exhibit
  No.                               Description of Exhibit

 2.1          Agreement and Plan of Merger, dated as of May 1, 2020, among
            Aaron's, Inc., Aaron's Holdings Company, Inc. and Aaron's Merger Sub,
            Inc. (incorporated by reference to Appendix B to the joint proxy
            statement/prospectus filed by Aaron's, Inc. with the SEC on May 8,
            2020)

10.1          Assumption Agreement between Aaron's, Inc. and Aaron's Holdings
            Company, Inc., dated as of October 16, 2020

10.2          Aaron's, Inc. Amended and Restated 2015 Equity and Incentive Award
            Plan, 2020 Amendment and Restatement

10.3          Aaron's, Inc. Employee Stock Purchase Plan, 2020 Amendment and
            Restatement

10.4          Fourth Amendment to the Aaron's, Inc. Employees Retirement Plan

10.5          Aaron's, Inc. Deferred Compensation Plan, 2020 Amendment and
            Restatement

10.6          Aaron's, Inc. Amended and Restated Compensation Plan for
            Non-Employee Directors, 2020 Amendment and Restatement

10.7          Amendment to the Aaron Rents, Inc. 2001 Stock Option and Incentive
            Award Plan, as Amended and Restated

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses