Upbound Group Director Mitch Fagerstrom Departs Board

Upbound Group Inc. (NASDAQ: UPBD) reported that director Mitch E. Fagerstrom left the board effective June 2 2026 according to an 8-K filed with the SEC on June 3 2026.

The filing lists the departure under Item 5.02 and states no disagreement with the company on any matter relating to its operations policies or practices. Upbound Group did not name a replacement in the document.

The departure reduces the company's board by one seat. Item 5.07 of the same filing confirms results from the submission of matters to a vote of security holders at the recent annual meeting though specific vote tallies were not detailed in the summary data.

Operationally the board now operates with one fewer independent or non-executive voice until a new director is elected or appointed. Under SEC rules the company must continue to file any subsequent Form 8-K if a replacement is named and must update its proxy disclosures for the next annual meeting to reflect current board composition.

Standard corporate-governance documents such as the bylaws or committee charters may require the remaining directors to reassign committee memberships in the interim.

Downstream the departure starts the clock on any contractual or stock-exchange obligations that require a fully constituted board within a defined period. It also obliges the company to maintain accurate director and officer listings in its next quarterly report on Form 10-Q and in any registration statements filed under the Securities Act.

If the board falls below the minimum size set by its governing documents the company will need to appoint a new director to restore compliance.

This marks the first board-level change disclosed by Upbound Group in 2026. The company previously filed an 8-K on Item 5.02 matters in prior years when other directors rotated off or new independent directors were added following its 2022 rebranding from Rent-A-Center.