America's Car-Mart Reports Officer/Director Changes, Comp Arrangements
Ticker: CRMT · Form: 8-K · Filed: Jan 30, 2024 · CIK: 799850
Complexity: simple
Sentiment: neutral
Topics: executive-changes, compensation, governance
TL;DR
**America's Car-Mart just announced executive changes and new pay deals, watch for strategic shifts.**
AI Summary
America's Car-Mart, Inc. filed an 8-K on January 30, 2024, reporting events from January 24, 2024. This filing indicates changes related to the departure or election of directors or officers and their compensation arrangements. For investors, this matters because leadership changes and executive compensation can signal shifts in company strategy, financial health, or governance, potentially impacting future stock performance.
Why It Matters
Changes in leadership and executive compensation can influence a company's strategic direction and financial stability, directly affecting investor confidence and stock valuation.
Risk Assessment
Risk Level: medium — Leadership changes can introduce uncertainty, but the specific details of the changes and compensation are not provided, making the immediate impact unclear.
Analyst Insight
A smart investor would monitor subsequent filings or company announcements for specific details regarding the personnel changes and compensation structures, as these specifics will determine the actual impact on the company's future performance and strategic direction.
Key Players & Entities
- AMERICAS CARMART INC (company) — the registrant filing the 8-K
- January 24, 2024 (date) — date of earliest event reported in the 8-K
- January 30, 2024 (date) — date the 8-K was filed
- 0-14939 (other) — Commission file number for America's Car-Mart, Inc.
- 63-0851141 (other) — I.R.S. Employer Identification No. for America's Car-Mart, Inc.
FAQ
What is the primary purpose of this 8-K filing by America's Car-Mart, Inc.?
The primary purpose of this 8-K filing, dated January 30, 2024, is to report events from January 24, 2024, specifically concerning 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers' and 'Financial Statements and Exhibits'.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on January 24, 2024, as stated in the 'Date of Report (Date of earliest event reported)' section.
What is the address of America's Car-Mart, Inc.'s principal executive offices?
America's Car-Mart, Inc.'s principal executive offices are located at 1805 North 2nd Street, Suite 401, Rogers, Arkansas 72756.
What is the Commission file number for America's Car-Mart, Inc.?
The Commission file number for America's Car-Mart, Inc. is 0-14939, as indicated in the filing.
Which state is America's Car-Mart, Inc. incorporated in?
America's Car-Mart, Inc. is incorporated in Texas, according to the 'State or other jurisdiction of incorporation' section of the filing.
Filing Stats: 910 words · 4 min read · ~3 pages · Grade level 11 · Accepted 2024-01-30 16:11:47
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 per share CRMT NASDAQ Global Select M
- $3.36 m — ommon stock with a fair market value of $3.36 million, based on the closing pricing of
- $5.04 million — tock with a target fair market value of $5.04 million. The restricted shares will vest in thr
Filing Documents
- f8k_012424.htm (8-K) — 24KB
- exh_102.htm (EX-10.2) — 16KB
- 0001171843-24-000465.txt ( ) — 214KB
- crmt-20240124.xsd (EX-101.SCH) — 3KB
- crmt-20240124_lab.xml (EX-101.LAB) — 33KB
- crmt-20240124_pre.xml (EX-101.PRE) — 22KB
- f8k_012424_htm.xml (XML) — 4KB
02
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On January 24, 2024, America's Car-Mart, Inc. (the "Company"), through its principal operating subsidiary, America's Car Mart, Inc., entered into Amendment No. 1 (the "Amendment") to the Amended and Restated Employment Agreement, dated December 19, 2023 and effective as of October 1, 2023, with the Company's President and CEO, Douglas W. Campbell (the "Agreement"). The Amendment revises the terms of Mr. Campbell's restricted stock award under the Agreement to be based on the fair market value of the Company's common stock as of the signing date of Agreement rather than October 1, 2023, and extends the timetable for granting his restricted stock and stock option awards as provided in the Agreement. Under the terms of the Amendment, no later than January 29, 2024, Mr. Campbell will receive an award of restricted shares of common stock with a fair market value of $3.36 million, based on the closing pricing of the Company's common stock as of the trading day immediately preceding December 19, 2023, and a stock option award representing shares of common stock with a target fair market value of $5.04 million. The restricted shares will vest in three equal annual installments on September 30th in each of the next three years, and the stock options will vest in their entirety on December 19, 2026, subject to certain performance conditions to be determined by the Committee. The Committee has determined that the vesting of the stock options will be based equally on the Company's four-quarter average return on equity during the period from November 1, 2023 to October 31, 2026, and the 90-day average of the closing price of the Company's common stock as reported on the Nasdaq Stock Market during the period from December 19, 2023 to December 18, 2026, with the number of options vesting to be within a range of 0% to 150%
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. 10.1 Amended and Restated Employment Agreement, dated December 19, 2023, between America's Car Mart, Inc., an Arkansas corporation, and Douglas Campbell (Incorporated by reference to the Company's Current Report on Form 8-K/A filed with the SEC on December 26, 2023). 10.2 Amendment No. 1, dated January 24, 2024, to the Amended and Restated Employment Agreement, dated December 19, 2023, between America's Car Mart, Inc., an Arkansas corporation, and Douglas Campbell. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE 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. America's Car-Mart, Inc. Date: January 30, 2024 /s/ Vickie D. Judy Vickie D. Judy Chief Financial Officer (Principal Financial Officer)