ITEM 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
CURO Group Holdings Corp. (the "Company") has appointed Tamara Schulz as Chief
Accounting Officer effective August 9, 2021.
Before joining the Company, Ms. Schulz, age 45, served in various positions at
Capital One since 2011, most recently serving as Managing Vice President -
Balance Sheet Management from November 2018 to July 2021. Ms. Schulz's other
positions at Capital One included Managing Vice President - Deputy Controller
from August 2016 to November 2018; Vice President - Deputy Controller from
February 2013 to July 2016; and Senior Director - Treasury Accounting from
August 2011 to February 2013. Prior to that time, Ms. Schulz served as a Senior
Staff Accountant at the U.S. Department of Treasury from March 2011 to August
2011 and as a Vice President at Freddie Mac, serving in Single Family Accounting
Policy and Disclosure from July 2010 to March 2011 and in Accounting Policy from
May 2004 to July 2010. Ms. Schulz began her career at Deloitte & Touche. Ms.
Schulz has a BS in Accounting from Boston College and a Masters in Accounting
from the University of Arizona - Eller College of Management.
In connection with Ms. Schulz's appointment as Chief Accounting Officer, the
Company and Ms. Schulz entered into an employment agreement, dated July 8, 2021
and effective August 9, 2021, which entitles Ms. Schulz to: (i) receive an
annual base salary of $375,000; (ii) participate in the Company's annual
short-term incentive program ("STIP") with a target annual STIP award as
determined annually by the Company's Board of Directors; (iii) participate in
the Company's long-term incentive compensation program, with the amount, form
and vesting terms as determined annually by the Board of Directors; (iv)
participate in the Company's Non-Qualified Deferred Compensation Plan on terms
consistent with other senior executives; (v) receive health, accident,
disability, life insurance and other fringe benefits on terms consistent with
those available to other full-time, salaried executive employees of the Company;
(vi) other customary benefits, including paid time off; and (vii) reimbursement
for documented reasonable business expenses in accordance with Company policies.
Ms. Schulz's employment will continue until terminated in accordance with its
terms. Ms. Schulz is entitled to certain benefits in the event that her
employment is terminated under specified circumstances. If Ms. Schulz's
employment is terminated by the Company without cause, or if Ms. Schulz
terminates her employment for "good reason" (as defined in the employment
agreement), Ms. Schulz will be entitled to receive (i) payment of her base
salary, as in effect on the termination date, for a 12-month period following
termination; (ii) any STIP award earned for a completed calendar year but not
yet paid as of the termination date; (iii) to the extent that the Board of
Directors determines that the Company was on track to meet the current
calendar-year STIP targets as of the termination date and those targets are
actually met for such calendar year, a prorated portion of the STIP award for
such year corresponding to the portion of such year that elapsed prior to the
termination date; and (iv) to the extent permitted by applicable law without any
penalty to Ms. Schulz or the Company and subject to Ms. Schulz's election of
COBRA continuation coverage under the Company's group health plan, reimbursement
of a percentage of Ms. Schulz's monthly COBRA premium costs equal to the
percentage of Ms. Schulz's health care premium costs covered by the Company as
of the date of termination (provided that such reimbursement payments will cease
if Ms. Schulz becomes eligible to receive any other health benefits during the
applicable COBRA continuation period or ceases receiving COBRA continuation
coverage).
Ms. Schulz's employment agreement contains customary confidentiality and
assignment of invention provisions, as well as a customary non-competition and
non-solicitation covenant that applies for the duration of Ms. Schulz's
employment and for a period of 12 months after termination of employment.
In connection with Ms. Schulz's commencement of employment, the Company granted
her 22,281 restricted stock units, which will vest ratably on the 1st, 2nd and
3rd anniversaries of her commencement date.
Ms. Schulz does not have any family relationship with any director or executive
officer of the Company, or person nominated or chosen by the Company to become a
director or executive officer, and she has no direct or indirect material
interest in any transaction required to be disclosed pursuant to Item 404(a) of
Regulation S-K.
ITEM 9.01 Financial Statements and Exhibits
(d). Exhibits
Exhibit Number Description
104 Cover Page Interactive Data File (embedded within the Inline
XBRL document)
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