As filed with the Securities and Exchange Commission on August 21, 2020

Registration No. 333-                

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

 

FORM S-8

REGISTRATION STATEMENT

UNDER

THE SECURITIES ACT OF 1933

 

 

REGIONAL MANAGEMENT CORP.

(Exact name of registrant as specified in its charter)

 

Delaware

(State or other jurisdiction of

incorporation or organization)

 

979 Batesville Road, Suite B

Greer, South Carolina 29651

(Address of principal executive offices, including zip code)

 

57-0847115

(I.R.S. Employer

Identification Number)

REGIONAL MANAGEMENT CORP.

2015 LONG-TERM INCENTIVE PLAN

(As Amended and Restated Effective April 27, 2017)

(Full title of the plan)

Brian J. Fisher

Executive Vice President, General Counsel, and Secretary

Regional Management Corp.

979 Batesville Road, Suite B

Greer, South Carolina 29651

(864) 448-7000

(Name, address and telephone number, including area code,

of agent for service)

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.

 

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 the Securities Act.


CALCULATION OF REGISTRATION FEE

 

Title of securities

to be

registered

 

Amount

to be

registered (1)

 

Proposed

maximum

offering

price

per share (2)

 

Proposed

maximum

aggregate

offering

price (2)

 

Amount of

registration

fee (2)

Common stock, par value $0.10 per share

  376,166   $17.79   $6,691,994   $869

 

(1)

This Registration Statement also registers additional securities to be offered or issued upon adjustment or changes made to the registered securities by reason of any stock splits, stock dividends or similar transactions as permitted by Rule 416(a) and Rule 416(b) under the Securities Act of 1933, as amended (the “Securities Act”).

 

(2)

Pursuant to Rule 457(c) and Rule 457(h)(1) of the Securities Act, based on the average ($17.79) of the high ($18.19) and low ($17.38) prices of Regional Management Corp.’s common stock on August 18, 2020, as reported on the New York Stock Exchange.


EXPLANATORY NOTE

This Registration Statement on Form S-8 is being filed by Regional Management Corp. (the “Company”) to register an additional 376,166 shares (the “Additional Shares”) of the common stock of the Company, which are securities of the same class and relate to the same employee benefit plan, the Regional Management Corp. 2015 Long-Term Incentive Plan, as amended and restated effective April 27, 2017 (the “2015 Plan”), as those shares registered on the Company’s Form S-8 previously filed with the Securities and Exchange Commission (the “Commission”) on (i) April 22, 2015 (Registration No. 333-203566), (ii) March 15, 2017 (Registration No. 333-216714), and (iii) May 2, 2017 (Registration No. 333-217598), which are hereby incorporated by reference. The Additional Shares represent shares that were subject to awards granted under the 2015 Plan, the Regional Management Corp. 2011 Stock Incentive Plan (the “2011 Plan”), or the Regional Management Corp. 2007 Management Incentive Plan (the “2007 Plan” and together with the 2011 Plan, the “Prior Plans”) that were forfeited, cancelled, terminated, expired, or lapsed for any reason and are eligible for re-issuance or issuance under the 2015 Plan pursuant to the terms of the 2015 Plan. As permitted by the rules of the Commission, this Registration Statement consists of only those items required by General Instruction E to Form S-8.

PART II

INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

 

Item 5.

Interests of Named Experts and Counsel.

Certain attorneys of Womble Bond Dickinson (US) LLP beneficially own collectively less than one quarter of one percent (0.25%) of the Company’s outstanding shares of common stock.

 

Item 8.

Exhibits.

The following exhibits are filed as a part of this Registration Statement:

 

Number

  

Description

5    Opinion of Womble Bond Dickinson (US) LLP as to the legality of the common stock being registered
23.1    Consent of Womble Bond Dickinson (US) LLP (included in Exhibit 5)
23.2    Consent of RSM US LLP
24    Powers of Attorney (included on signature page)


SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, as amended, Regional Management Corp. 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 Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Greer, State of South Carolina, on this 21st day of August, 2020.

 

REGIONAL MANAGEMENT CORP.
By:   /s/ Robert W. Beck
 

Robert W. Beck

President and Chief Executive Officer

Each of the undersigned, being a director and/or officer of Regional Management Corp. (the “Company”), hereby nominates, constitutes, and appoints Robert W. Beck and Brian J. Fisher, or any one of them severally, to be his/her true and lawful attorney-in-fact and agent and to sign in his/her name and on his/her behalf in any and all capacities stated below, and to file with the Securities and Exchange Commission (the “Commission”) this Registration Statement on Form S-8 (the “Registration Statement”) or other appropriate form, and to file any and all amendments, including post-effective amendments, exhibits, and other documents and instruments in connection therewith, to this Registration Statement, making such changes to this Registration Statement as such attorney-in-fact and agent deems appropriate, and generally to do all such things on his/her behalf in any and all capacities stated below to enable the Company to comply with the provisions of the Securities Act of 1933, as amended (the “Securities Act”), and all requirements of the Commission.

Pursuant to the requirements of the Securities Act, this Registration Statement has been signed by the following persons in the capacities indicated as of August 21, 2020.

 

/s/ Robert W. Beck

  

/s/ Michael S. Dymski

Name:    Robert W. Beck    Name:    Michael S. Dymski
Title:    President and Chief Executive Officer and Director (principal executive officer)    Title:    VP, Interim Chief Financial Officer, and Chief Accounting Officer (principal financial officer and principal accounting officer)

/s/ Carlos Palomares

  

/s/ Jonathan D. Brown

Name:    Carlos Palomares    Name:    Jonathan D. Brown
Title:    Chair of the Board of Directors    Title:    Director

/s/ Roel C. Campos

  

/s/ Maria Contreras-Sweet

Name:    Roel C. Campos    Name:    Maria Contreras-Sweet
Title:    Director    Title:    Director

/s/ Michael R. Dunn

  

/s/ Steven J. Freiberg

Name:    Michael R. Dunn    Name:    Steven J. Freiberg
Title:    Director    Title:    Director

/s/ Sandra K. Johnson

  

 

Name:    Sandra K. Johnson    Name:    Alvaro G. de Molina
Title:    Director    Title:    Director

 

EX-5

EXHIBIT 5

[Letterhead of Womble Bond Dickinson (US) LLP]

 

August 21, 2020

Regional Management Corp.

979 Batesville Road, Suite B

Greer, South Carolina 29651

 

  Re:

Registration Statement on Form S-8 Relating to the

      

Regional Management Corp. 2015 Long-Term Incentive Plan

      

(As Amended and Restated Effective April 27, 2017)

Ladies and Gentlemen:

We have acted as counsel to Regional Management Corp., a Delaware corporation (the “Company”), in connection with the preparation of the Company’s above-referenced registration statement on Form S-8 (the “Registration Statement”) under the Securities Act of 1933, as amended (the “Securities Act”), filed by the Company with the Securities and Exchange Commission (the “Commission”). The Registration Statement relates to the 376,166 shares of the Company’s common stock, $0.10 par value per share (the “Shares”), which are proposed to be offered and sold pursuant to the Regional Management Corp. 2015 Long-Term Incentive Plan (As Amended and Restated Effective April 27, 2017) (the “Plan”). This opinion is provided pursuant to the requirements of Item 8(a) of Form S-8 and Item 601(b)(5) of Regulation S-K.

As the Company’s counsel, we have examined originals or copies, certified or otherwise identified to our satisfaction, of the Company’s certificate of incorporation and bylaws, each as amended to date, and minutes and records of the corporate proceedings of the Company relating to the filing of the Registration Statement and the issuance of the Shares, as provided to us by the Company, certificates of public officials and of representatives of the Company, and statutes and other instruments and documents, as a basis for the opinions hereinafter expressed. In rendering this opinion, we have relied upon certificates of public officials and representatives of the Company with respect to the accuracy of the factual matters contained in such certificates.

In connection with such examination, we have assumed (a) the genuineness of all signatures and the legal capacity of all signatories; (b) the authenticity of all documents submitted to us as originals and the conformity to original documents of all documents submitted to us as certified or photostatic copies; and (c) the proper issuance and accuracy of certificates of public officials and representatives of the Company. In rendering opinions as to future events, we have assumed the facts and law existing on the date hereof.

Based on and subject to the foregoing, and having regard for such legal considerations as we deem relevant, it is our opinion that the Shares have been duly authorized by all necessary corporate action on the part of the Company, and, upon issuance, delivery and payment therefor in the manner contemplated by the Plan and the Registration Statement, the Shares will be validly issued, fully paid and non-assessable.

This opinion is limited to the Delaware General Corporation Law, as currently in effect, and we are expressing no opinion as to the effect of the laws of any other jurisdiction.

This opinion is rendered as of the date hereof, and we undertake no obligation to advise you of any changes in applicable law or any other matters that may come to our attention after the date hereof.

We hereby consent to the filing of this opinion as an exhibit to the Registration Statement and to any reference to the name of our firm in the Registration Statement. In giving this consent, we do not admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Commission thereunder.

Very truly yours,

/s/ Womble Bond Dickinson (US) LLP

 

EX-23.2

EXHIBIT 23.2

Consent of Independent Registered Public Accounting Firm

We consent to the incorporation by reference in this Registration Statement on Form S-8 of Regional Management Corp. 2015 Long-Term Incentive Plan (As Amended and Restated Effective April 27, 2017) of our reports dated March 13, 2020, relating to the consolidated financial statements and the effectiveness of internal control over financial reporting of Regional Management Corp. appearing in the Annual Report on Form 10-K of Regional Management Corp. for the year ended December 31, 2019.

/s/ RSM US LLP

Raleigh, North Carolina

August 21, 2020