PROG Holdings Announces $100M Accelerated Share Repurchase Program; Board Increases Share Repurchase Authorization By $237M, Bringing Total Buyback Capacity To $500M

PROG Holdings, Inc. (NYSE:PRG), the fintech holding company for Progressive Leasing, Four Technologies, MoneyApp and Purchasing Power, announced today that the Company intends to enter into an accelerated share repurchase agreement to repurchase an aggregate of $100 million of its common stock. The transactions under that agreement are expected to be completed during the first quarter of 2027.

In connection with its intention to enter into the ASR program, the Company’s Board of Directors replenished its current share repurchase program, adding an additional $237 million and bringing the total amount available for future repurchases of the Company’s common stock to $500 million. The term of the Company’s share repurchase program was also extended through the earlier of October 26, 2029 and the date the Company has repurchased shares of its common stock for an aggregate purchase price of $500 million.