Rent-A-Center 16.8% shareholder Engaged Capital nominates Carol McFate to Board
On May 25, 2018, Engaged Capital and certain of its affiliates entered into a letter agreement with Rent-A-Center in connection with that certain Cooperation Agreement between Engaged and the Issuer. In accordance with the Cooperation Agreement, Engaged proposed Carol McFate to be nominated for election to the Board of Directors at the 2018 annual meeting of stockholders and the Board confirmed her qualifications to serve on the Board. In light of the Board's continuing review of strategic and financial alternatives to maximize stockholder value, Engaged elected to waive, pursuant to the Letter Agreement, its right under the Cooperation Agreement to put forth Ms. McFate as a potential director nominee for election at the 2018 Annual Meeting. In exchange for the waiver, at any time prior to the termination of the Cooperation Agreement, Engaged may put forth Ms. McFate as a potential director nominee for election or appointment to the Board.