H&R Block Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Financial Statements and Exhibits
$HRB
Other Consumer Services
Consumer Discretionary
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): October 18, 2024
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Item 1.01. Entry into a Material Definitive Agreement.
As previously disclosed, on August 5, 2020, Emerald Financial Services, LLC (“EFS”), a wholly-owned, indirect subsidiary of H&R Block, Inc. (the “Company”) and Pathward, N.A. (f/k/a MetaBank, N.A.), a national bank (“Pathward”), entered into a Program Management Agreement (the “PMA”) pursuant to which Pathward acts as the bank provider of H&R Block-branded and other financial products. The PMA was most recently amended pursuant to a Third Amendment to Program Management Agreement, dated April 1, 2024.
Effective October 18, 2024, EFS and Pathward entered into a Fourth Amendment to Program Management Agreement (the “Amendment”), which, among other things:
•Extends the term of the PMA by two years, through June 30, 2027; and
•Amends and restates the terms of the Emerald Advance participation agreement, including varying the level of the participation interests purchased by EFS by jurisdiction, which the Company expects to slightly lower the overall share of EFS’s participation interests at the portfolio level.
The other material terms of the PMA remain substantially unchanged. For additional information about the terms of the PMA, see the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on December 23, 2021, and the amendments filed as Exhibit 10.1 to the Company's quarterly report on Form 10-Q for the quarter ended September 30, 2023 and Exhibit 10.30 to the Company’s annual report on Form 10-K for the fiscal year ended June 30, 2024, which are incorporated herein by reference.
The foregoing summary of the Amendment is qualified in its entirety by reference to the full text of the Amendment, a copy of which is filed as Exhibit 10.1 hereto and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit Number | Description | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| H&R BLOCK, INC. | |||||||||||
| Date: | October 23, 2024 | By: | /s/ Katharine M. Haynes | ||||||||
Katharine M. Haynes | |||||||||||
| Vice President and Corporate Secretary | |||||||||||