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AI brief of an SEC Form 8-K · Upbound Group (UPBD)

Upbound Group CEO Mitch Fadel to retire June 1; CFO Fahmi Karam named successor

Positive Impact 4 of 5 leadership Written later

Upbound Group said CEO Mitch Fadel will retire as CEO and board member effective June 1, 2025, and CFO Fahmi Karam will succeed him as CEO and join the board on that date. The announcement came with fourth-quarter and full-year 2024 results, which showed higher revenue and earnings year over year and 2025 guidance above 2024 levels.

Key points

  • Fadel retires as CEO and director effective June 1, 2025; the filing says he will receive no cash severance.
  • Karam, 46, has been CFO since October 2022. His employment agreement sets a base salary of $1,100,000 and a target annual bonus of 150% of base salary.
  • Q4 2024 revenue was $1,079.2 million, up 6.0%. GAAP net earnings were $31.0 million, compared with a $11.3 million net loss a year earlier. Non-GAAP diluted EPS was $1.05, compared with $0.81.
  • Full-year 2024 revenue was $4.3 billion, up 8.2%. Full-year 2025 guidance is revenue of $4.50 to $4.75 billion and non-GAAP diluted EPS of $3.90 to $4.40.

The filing

CompanyUpbound Group (UPBD)
Form8-K, current report
Filed with the SECFeb 20, 2025, 7:14 AM ET
Accession number0001104659-25-015439

Items reported: 2.02 Results of Operations5.02 Director / Officer Change7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 6:57 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 20, 2025.

Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.