# EDGAR Filing Document

**Accession Number:** 0001185348
**File Stem:** 0001193125-23-058300
**Filing Date:** 2023-3
**Character Count:** 19129
**Document Hash:** 8a8a6928eb78389325b810595efd9aee
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-058300.hdr.sgml**: 20230302

**ACCESSION NUMBER**: 0001193125-23-058300

**CONFORMED SUBMISSION TYPE**: S-8 POS

**PUBLIC DOCUMENT COUNT**: 6

**FILED AS OF DATE**: 20230302

**DATE AS OF CHANGE**: 20230302

**EFFECTIVENESS DATE**: 20230302

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PRA GROUP INC
- **CENTRAL INDEX KEY:** 0001185348
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-CONSUMER CREDIT REPORTING, COLLECTION AGENCIES [7320]
- **IRS NUMBER:** 753078675
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8 POS
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-230502
- **FILM NUMBER:** 23700082

**BUSINESS ADDRESS:**
- **STREET 1:** 120 CORPORATE BLVD STE 100
- **CITY:** NORFOLK
- **STATE:** VA
- **ZIP:** 23502
- **BUSINESS PHONE:** 7575199300X3023

**MAIL ADDRESS:**
- **STREET 1:** 120 CORPORATE BLVD STE 100
- **CITY:** NORFOLK
- **STATE:** VA
- **ZIP:** 23502

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PORTFOLIO RECOVERY ASSOCIATES INC
- **DATE OF NAME CHANGE:** 20020903

**As filed with the Securities and Exchange Commission on March 2, 2023** 

**Registration No. 333-230502** 

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**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

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**POST EFFECTIVE AMENDMENT NO. 1 to FORM S-8** 

**REGISTRATION STATEMENT** 

***UNDER***

***THE SECURITIES ACT OF 1933***

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## PRA Group, Inc.
**(Exact name of registrant as specified in its charter)** 

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| | |
|:---|:---|
| **Delaware**<br> **(State or other jurisdiction of**<br> **incorporation or organization)**<br>**120 Corporate Boulevard, Norfolk, Virginia**<br> **(Address of Principal Executive Offices)** | **75-3078675**<br> **(I.R.S. Employer**<br> **Identification No.)**<br>**23502**<br> **(Zip Code)** |

---

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**2013 Omnibus Incentive Plan** 

**2022 Omnibus Incentive Plan** 

**(Full title of the plan)** 

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**LaTisha Owens Tarrant** 

**Chief Human Resources Officer** 

**120 Corporate Boulevard,** 

**Norfolk, Virginia 23502** 

**(Name and address of agent for service)** 

**(888) 772-7326** 

**(Telephone number, including area code, of agent for service)** 

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***Copies to:***

**W. Lake Taylor, Jr.** 

**McGuireWoods LLP** 

**Gateway Plaza** 

**800 East Canal Street** 

**Richmond, VA 23219-3916** 

**(804) 775-1000** 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.

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| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ☒ | Accelerated filer | ☐ |
| Non-accelerated filer | ☐ | Smaller reporting company | ☐ |
|  |  | Emerging growth company | ☐ |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of Securities Act. ☐

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**Explanatory Note** 

PRA Group, Inc. (the "Company") previously filed its Registration Statement on Form S-8 (Registration No. 333-230502) with the Securities and Exchange Commission (the "Commission") on March 26, 2019 (the "Prior Registration Statement") with respect to 4,587,895 shares of the Company's common stock, par value $0.01 per share (the "Common Stock"), issuable under the Company's 2013 Omnibus Incentive Plan (the "2013 Plan").

On June 9, 2022 (the "Approval Date"), the Company's stockholders approved the Company's 2022 Omnibus Incentive Plan (the "2022 Plan") and, in connection therewith, no further awards will be made under the 2013 Plan. Pursuant to the terms of the 2022 Plan, if, after December 31, 2021, (i) any shares of Common Stock subject to an award under the 2013 Plan are forfeited or expire or (ii) an award under the 2013 Plan terminates, is settled for cash or otherwise does not result in the issuance of all of the shares subject to the award, the shares subject to the award may be used again for awards under the 2022 Plan to the extent of the forfeiture, expiration, termination, cash settlement or non-issuance (the "Rollover Shares").

As of the Approval Date, a total of 1,267,817 shares of Common Stock were subject to awards then outstanding under the 2013 Plan. The Company is filing this Post-Effective Amendment No. 1 to Form S-8 pursuant to Item 512(a)(1)(iii) of Regulation S-K and Compliance and Disclosure Interpretation 126.43 to amend the Prior Registration Statement to register the offer of the Rollover Shares under the 2022 Plan (as such shares would no longer be issuable under the 2013 Plan). For avoidance of doubt, the Company is not registering any additional shares of Common Stock that were not previously approved by the Company's stockholders as of the Approval Date. Contemporaneously with the filing of this Post-Effective Amendment No. 1 to Form S-8, the Company is filing a Registration Statement on Form S-8 to register 3,764,323 new shares of Common Stock that are available for issuance pursuant to the 2022 Plan.

**Part II** 

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT** 

**Item 3. Incorporation of Documents by Reference.** 

The following documents filed by the Company with the Commission (File No. 000-50058) are incorporated by reference in, and made a part of, this registration statement (other than documents or information included in such documents deemed to have been furnished and not filed in accordance with Commission rules):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the Company's Annual Report on [Form 10-K](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1185348/000118534823000007/praa-20221231.htm) for the year ended December 31, 2022;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the Company's Current Reports on Form 8-K filed with the
Commission on [January 23, 2023](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1185348/000119312523012713/d420412d8k.htm) , [January 24, 2023](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1185348/000119312523013749/d420414d8k.htm) and [February 6, 2023](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1185348/000119312523025557/d447977d8k.htm) ; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the description of the Company's common stock contained in [Exhibit 4.3](http://www.sec.gov/Archives/edgar/data/1185348/000118534821000006/newpraa-ex43_20201231x10k.htm) of the Company's Annual Report on Form 10-K for the year ended December 31, 2020 (including any amendment or report filed for the purpose of updating such description).

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All documents filed by the Company under Section 13(a), 13(c), 14 or 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), after the date of this registration statement and before the filing of a post-effective amendment that indicates that all securities offered have been sold or that deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in, and to be a part of, this registration statement from the date of filing of such documents (other than documents or information included in such documents deemed to have been furnished and not filed in accordance with Commission rules). Any statement contained in a document incorporated by reference in this registration statement shall be deemed to be modified or superseded for purposes of this registration statement to the extent that a statement contained in this registration statement or in any other subsequently filed document that is incorporated by reference in this registration statement modifies or supersedes such earlier statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this registration statement.

**Item 8. Exhibits.** 

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| | |
|:---|:---|
| **Exhibit**<br>**No.** | **Description** |
| 5.1\* | [Opinion of McGuireWoods LLP.](d404868dex51.htm) |
| 10.1 | [2013 Omnibus Incentive Plan (incorporated by reference to Appendix A to the Company's Definitive Proxy Statement filed on April 19, 2013 (File No. 000-50058)).](http://www.sec.gov/Archives/edgar/data/1185348/000119312513161958/d521369ddef14a.htm#rom521369_45) |
| 10.2 | [2022 Omnibus Incentive Plan (incorporated by reference to Appendix A to the Company's Definitive Proxy Statement filed on April 28, 2022 (File No. 000-50058)).](http://www.sec.gov/Archives/edgar/data/1185348/000119312522127908/d245536ddef14a.htm#toc245536_67) |
| 23.1\* | [Consent of Ernst & Young LLP.](d404868dex231.htm) |
| 23.2\* | [Consent of KPMG LLP.](d404868dex232.htm) |
| 23.3\* | [Consent of McGuireWoods LLP (included in Exhibit 5.1).](d404868dex51.htm) |
| 24.1\* | [Power of Attorney (included in signature pages).](#sig) |

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\* Filed herewith.

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**SIGNATURES** 

Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Post-Effective Amendment to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Norfolk, Commonwealth of Virginia, on March 2, 2023.

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| | |
|:---|:---|
|  | **PRA Group, Inc.** |
| By: | /s/ Kevin P. Stevenson |
|  | Kevin P. Stevenson |
|  | President and Chief Executive Officer |

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Pursuant to the requirements of the Securities Act of 1933, as amended, this Post-Effective Amendment has been signed by the following persons in the capacities indicated on March 2, 2023. Each person whose signature appears below hereby authorizes LaTisha Owens Tarrant to execute in the name of each such person, and to file, any amendment, including any post-effective amendment, to this Post-Effective Amendment making such changes in this Post-Effective Amendment as the registrant deems appropriate, and appoints such individual as attorney-in-fact, with full power of substitution and resubstitution, to sign on his or her behalf and in each capacity stated below and file all amendments and post-effective amendments to this Post-Effective Amendment.

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| | |
|:---|:---|
| **Signature** | **Title** |
| \*<br> (Kevin P. Stevenson) | President, Chief Executive Officer and Director<br>(Principal Executive Officer) |
| \*<br> (Peter M. Graham) | Executive Vice President and Chief Financial Officer<br>(Principal Financial Officer and Principal Accounting Officer) |
| \*<br> (Steven D. Fredrickson) | Chairman of the Board of Directors |
| /s/ Brett L. Paschke<br> (Brett L. Paschke) | Director |
| \*<br> (Vikram A. Atal) | Director |
| \*<br> (Danielle M. Brown) | Director |

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| | |
|:---|:---|
| \*<br> (Marjorie M. Connelly) | Director |
| \*<br> (John H. Fain) | Director |
| \*<br> (James A. Nussle) | Director |
| \*<br> (Scott M. Tabakin) | Director |
| \*<br> (Lance L. Weaver) | Director |
| /s/ Peggy P. Turner<br> (Peggy P. Turner) | Director |

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| | |
|:---|:---|
| \* By: | /s/ LaTisha Owens Tarrant |
|  | LaTisha Owens Tarrant |
|  | Attorney-in-Fact |

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## Exhibit 5.1

**Exhibit 5.1** 

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| | |
|:---|:---|
| ![LOGO](g404868g0228063610577.jpg) | **McGuireWoods LLP**<br> Gateway Plaza<br> 800 East Canal Street<br> Richmond, VA 23219-3916<br> Phone: 804.775.1000<br> Fax: 804.775.1061<br> www.mcguirewoods.com |

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March 2, 2023

PRA Group, Inc.

120 Corporate Boulevard

Norfolk, Virginia, 23502

**PRA Group, Inc.** 

**Post-Effective Amendment No. 1 to Registration Statement on Form S-8** 

We have acted as counsel to PRA Group, Inc., a Delaware corporation (the "Company"), in connection with the preparation and filing by the Company of a Post-Effective Amendment No. 1 to Registration Statement on Form S-8 (the "Post-Effective Amendment") with the Securities and Exchange Commission (the "Commission") on or about the date hereof pursuant to the Securities Act of 1933, as amended (the "Securities Act"), to register up to 1,267,817 Rollover Shares (as defined below). The Post-Effective Amendment amends the Company's Registration Statement on Form S-8 (Registration No. 333-230502) filed by the Company with the Commission on March 26, 2019 (the "Registration Statement") to register 4,587,895 shares of the Company's common stock, par value $0.01 per share (the "Common Stock"), issuable under the Company's 2013 Omnibus Incentive Plan (the "2013 Plan"). On June 9, 2022, the Company's stockholders approved the 2022 Omnibus Incentive Plan (the "2022 Plan"), pursuant to which if, after December 31, 2021, (i) any shares of Common Stock subject to an award under the 2013 Plan are forfeited or expire or (ii) an award under the 2013 Plan terminates, is settled for cash or otherwise does not result in the issuance of all of the shares subject to the award, the shares subject to the award may be used again for awards under the 2022 Plan to the extent of the forfeiture, expiration, termination, cash settlement or non-issuance (the "Rollover Shares").

This opinion letter is being furnished in accordance with the requirements of Item 8(a) of Form S-8 and Item 601(b)(5)(i) of Regulation S-K.

In connection with this opinion letter, we have examined originals or copies, certified or otherwise identified to our satisfaction, of such documents and records of the Company, certificates of public officials and officers of the Company and such other documents, certificates and records as we have deemed necessary to render the opinions set forth herein, including, among other things, (i) the Company's Fifth Amended and Restated Certificate of Incorporation, as amended through the date hereof, (ii) the Company's Amended and Restated By-Laws, as amended through the date hereof, (iii) the 2013 Plan, (iv) the 2022 Plan, (v) the Post-Effective Amendment, (vi) resolutions of the Company's Board of Directors approving the 2022 Plan and authorizing the registration and issuance of the Rollover Shares pursuant to the 2022 Plan and (vii) a certificate issued by the Secretary of State of the State of Delaware on the date hereof to the effect that the Company is existing under the laws of the State of Delaware and in good standing (the "Good Standing Certificate").

Atlanta \| Austin \| Baltimore \| Charlotte \| Charlottesville \| Chicago \| Dallas \| Houston \| Jacksonville \| London \| Los Angeles - Century City

Los Angeles - Downtown \| New York \| Norfolk \| Pittsburgh \| Raleigh \| Richmond \| San Francisco \| Tysons \| Washington, D.C.

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PRA Group, Inc.

March 2, 2023

For purposes of the opinions expressed below, we have assumed (i) the legal capacity of all natural persons, (ii) the genuineness of all signatures, (iii) the authenticity of all documents submitted to us as originals, (iv) the conformity to authentic original documents of all documents submitted to us as certified, electronic or photostatic copies and (v) the due authorization, execution and delivery of all documents by all parties and the validity, binding effect and enforceability thereof on such parties (other than the authorization, execution and delivery of certain documents by the Company).

As to factual matters, we have relied upon, and assumed the accuracy of, representations included in the documents submitted to us, upon certificates of officers of the Company and upon certificates of public officials, without independent investigation of their accuracy.

Based upon the foregoing and such other information and documents as we have considered necessary for the purposes hereof, and subject to the assumptions, qualifications and limitations stated herein, we are of the opinion that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Company is a corporation validly existing and in good standing under the laws of the State of Delaware.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The Rollover Shares have been duly authorized and, when and to the extent issued in accordance with the terms of the 2022 Plan and any award agreement entered into under the 2022 Plan, the Rollover Shares will be validly issued, fully paid and nonassessable.

The opinions expressed above are limited to the General Corporation Law of the State of Delaware in effect on the date hereof. We do not express any opinion as to the laws of any other jurisdiction.

The opinion set forth in paragraph 1 above as to the valid existence and good standing of the Company is based solely upon our review of the Good Standing Certificate.

We hereby consent to the filing of this opinion letter with the Commission as an exhibit to the Registration Statement. In giving this consent, we do not admit that we are within the category of persons whose consent is required by Section 7 of the Securities Act or the rules and regulations of the Commission promulgated thereunder.

This opinion letter is rendered as of the date hereof, and we disclaim any obligation to advise you of facts, circumstances, events or developments that hereafter may be brought to our attention and that may alter, affect or modify the opinion expressed herein. This opinion letter is expressly limited to the matters set forth above, and we render no opinion, whether by implication or otherwise, as to any matters beyond the matters expressly set forth herein.

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| |
|:---|
| Very truly yours, |
| /s/ McGuireWoods LLP |

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## Exhibit 23.1

**Exhibit 23.1** 

**Consent of Independent Registered Public Accounting Firm** 

We consent to the incorporation by reference in Amendment No.1 to the Registration Statement (333-230502) on Form S-8 pertaining to the 2013 and 2022 Omnibus Incentive Plans of PRA Group, Inc. of our reports dated February 27, 2023, with respect to the consolidated financial statements of PRA Group, Inc. and the effectiveness of internal control over financial reporting of PRA Group, Inc., included in its Annual Report (Form 10-K) for the year ended December 31, 2022, filed with the Securities and Exchange Commission.

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| |
|:---|
| /s/ Ernst & Young LLP |
| Richmond, Virginia |
| March 2, 2023 |

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## Exhibit 23.2

**Exhibit 23.2** 

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| | |
|:---|:---|
| ![LOGO](g404868g40w52.jpg) |  |
| ![LOGO](g404868g40w52.jpg) | <br> KPMG LLP<br> Suite 1900<br> 440 Monticello Avenue<br> Norfolk, VA 23510 |

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**Consent of Independent Registered Public Accounting Firm** 

We consent to the use of our report dated February 28, 2022, with respect to the consolidated financial statements of PRA Group, Inc. and subsidiaries, incorporated herein by reference.

/s/ KPMG LLP

Norfolk, Virginia

March 2, 2023