Copart Inc. DEF 14A: Executive Pay Details Revealed

Ticker: CPRT · Form: DEF 14A · Filed: Oct 24, 2024 · CIK: 900075

Copart INC DEF 14A Filing Summary
FieldDetail
CompanyCopart INC (CPRT)
Form TypeDEF 14A
Filed DateOct 24, 2024
Risk Levelmedium
Pages15
Reading Time18 min
Key Dollar Amounts$1.36 b, $4.67 b, $3.42 billion, $1.25 billion, $8.43 billion
Sentimentneutral

Sentiment: neutral

Topics: executive-compensation, proxy-statement, governance

Related Tickers: CPRT

TL;DR

Copart's 2024 DEF 14A is out, showing exec pay details. Check it for salary, stock, and bonus info.

AI Summary

Copart Inc. filed its DEF 14A on October 24, 2024, detailing executive compensation for the fiscal year ending July 31, 2024. The filing includes compensation details for named executive officers, such as the CEO, CFO, and other key personnel, with specific amounts for salary, bonuses, stock awards, and other incentives. The report also covers the company's fiscal performance and governance practices.

Why It Matters

This filing provides crucial insights into how Copart Inc. compensates its top executives, which can influence investor perception and the company's strategic direction.

Risk Assessment

Risk Level: medium — DEF 14A filings can reveal information about executive compensation and corporate governance that may impact stock valuation and investor confidence.

Key Numbers

Key Players & Entities

FAQ

What is the total compensation for the CEO in the fiscal year ending July 31, 2024?

The filing does not explicitly state the total compensation for the CEO in a single figure, but it details components such as salary, stock awards, and other compensation for the fiscal year ending July 31, 2024.

When was this DEF 14A filing submitted to the SEC?

This DEF 14A filing was submitted to the SEC on October 24, 2024.

What is the primary purpose of a DEF 14A filing?

A DEF 14A filing, also known as a Definitive Proxy Statement, is filed by companies to solicit proxies from shareholders for an upcoming shareholder meeting, typically to vote on matters such as director elections and executive compensation.

Which fiscal year does the compensation data in this filing primarily cover?

The compensation data in this filing primarily covers the fiscal year ending July 31, 2024.

What is Copart Inc.'s Standard Industrial Classification code?

Copart Inc.'s Standard Industrial Classification code is 5500, which corresponds to RETAIL-AUTO DEALERS & GASOLINE STATIONS.

Filing Stats: 4,431 words · 18 min read · ~15 pages · Grade level 16 · Accepted 2024-10-24 13:53:10

Key Financial Figures

Filing Documents

Executive Compensation Tables

Executive Compensation Tables 44 Pay Ratio 44 Fiscal Year 2024 Summary Compensation Table 46 Grants of Plan-Based Awards in Fiscal Year 2024 47 Outstanding Equity Awards at 2024 Fiscal Year End 48 Stock Vested in Fiscal Year 2024 49 Pension Benefits and Non-Qualified Deferred Compensation 50 Potential Post-Employment Payments upon Termination or Change in Control 50 Equity Compensation Plan Information 51 Pay Versus Performance 52 Related Party Transactions and Delinquent Section 16(a) Reports 57

Security Ownership

Security Ownership 58 Questions and Answers About the Proxy Materials and Annual Meeting 60 Other Matters 68 Other Matters 68 Adjournment of the 2024 Annual Meeting 68 Annual Report on Form 10-K for the Fiscal Year Ended July 31, 2024 68 Site of the Copart, Inc. 2024 Annual Meeting 69 Table of Contents Table of Contents

Forward-Looking Statements

Forward-Looking Statements This proxy statement, including the section entitled "Compensation Discussion and Analysis" set forth below, contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These statements are based on our current expectations and involve risks and uncertainties that may cause our actual results to differ materially from those anticipated by these forward-looking statements. These forward-looking statements may include statements regarding actions to be taken by us in the future. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements should be evaluated together with the many uncertainties that affect our business, particularly those mentioned in the section on forward-looking statements and in the risk factors in Part I, Item 1A of our annual report on Form 10-K for the fiscal year ended July 31, 2024, and in our periodic reports on Form 10-Q and current reports on Form 8-K as filed with the SEC. Table of Contents Proxy Statement Summary This summary highlights information contained elsewhere in this proxy statement and does not contain all of the information that you should consider. You should read the entire proxy statement carefully before voting. 2024 Annual Meeting of Stockholders Meeting Date Friday, December 6, 2024 Record Date October 11, 2024 Meeting Time 8:00 a.m., Central Standard Time Vote Your Shares Attend the Meeting Your vote is important. We encourage you to vote in advance, even if you plan to attend the 2024 annual meeting. You are cordially invited to attend the 2024 annual meeting of stockholders of Copart, Inc. to be held on Friday, December 6, 2024, at 8:00 a.m., Central Standard Time, at Copart's corporate he

Executive Compensation Highlights

Executive Compensation Highlights Set forth below is the fiscal 2024 compensation for each NEO (as defined in the "Compensation Discussion and Analysis" section of this proxy statement) as determined under U.S. Securities and Exchange Commission ("SEC") rules. See the Fiscal 2024 Summary Compensation Table and the accompanying notes to the table beginning on page 46 for more information. Name and Principal Position Fiscal Year Salary ($) Bonus ($) Stock Awards ($) Option Awards ($) Non-Equity Incentive Plan Compensation ($) All Other Compensation ($) Total ($) A. Jayson Adair Executive Chairman (1) 2024 1 — — — — 845,411 845,412 Jeffrey Liaw Chief Executive Officer 2024 900,000 — — — 1,093,400 98,940 2,092,340 Leah C. Stearns Senior Vice President and Chief Financial Officer 2024 563,327 — — 3,275,415 450,481 12,664 4,301,887 (1) Mr. Adair served as co-Chief Executive Officer of the Company from April 2022 to April 1, 2024, at which time he transitioned to serving as the Company's Executive Chairman. COPART, INC. 4 2024 PROXY STATEMENT Table of Contents 2024 Proxy Statement Summary What We Do What We Don't Do Our Compensation Committee consists entirely of independent directors No guaranteed salary increases or bonuses We hold a "say-on-pay" vote annually No excessive benefits and perquisites We regularly engage with our stockholders No special executive retirement plans A substantial portion of our named executive officers' compensation is at-risk No tax gross-up upon a change of control We set challenging performance goals and cap the payouts under our executive bonus plan No incentives for inappropriate risk-taking We provide reasonable severance and change in control benefits No short sales, hedging or pledging of equity interests, or transactions involving derivatives of our securities We evaluate our levels of executive compensation against an appropriate

: Gender Identity

Part I: Gender Identity Directors 2 10 0 0

: Demographic Background

Part II: Demographic Background African American or Black 1 0 0 0 Alaskan Native or Native American 0 0 0 0 Asian 0 2 0 0 Hispanic or Latinx 0 0 0 0 Native Hawaiian or Pacific Islander 0 0 0 0 White 1 8 0 0 Two or More Races or Ethnicities 0 0 0 0 LGBTQ+ 0 0 0 0 Did Not Disclose Demographic Background 0 0 0 0 Board DiversityFounder Directors

View Full Filing

View this DEF 14A filing on SEC EDGAR

View on Read The Filing