Americas Car-Mart Appoints New CFO
Ticker: CRMT · Form: 8-K · Filed: Aug 30, 2024 · CIK: 799850
Sentiment: neutral
Topics: executive-appointment, cfo, compensation
TL;DR
New CFO John Wilson starts Sept 3rd with $325k salary + stock.
AI Summary
On August 27, 2024, Americas Car-Mart, Inc. announced the appointment of John R. Wilson as Chief Financial Officer, effective September 3, 2024. Wilson will receive an annual base salary of $325,000 and is eligible for a discretionary annual bonus. He will also be granted 15,000 restricted stock units vesting over three years.
Why It Matters
The appointment of a new CFO is a significant leadership change that can impact financial strategy and investor confidence.
Risk Assessment
Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategies and performance.
Key Numbers
- $325,000 — CFO Base Salary (Annual compensation for John R. Wilson.)
- 15,000 — RSUs Granted (Stock units awarded to the new CFO, vesting over three years.)
Key Players & Entities
- Americas Car-Mart, Inc. (company) — Registrant
- John R. Wilson (person) — Appointed Chief Financial Officer
- $325,000 (dollar_amount) — Annual base salary for new CFO
- 15,000 (dollar_amount) — Restricted stock units granted to new CFO
- September 3, 2024 (date) — Effective date for new CFO
FAQ
Who has been appointed as the new Chief Financial Officer?
John R. Wilson has been appointed as the new Chief Financial Officer.
When is the new CFO's appointment effective?
The appointment of John R. Wilson as CFO is effective September 3, 2024.
What is the annual base salary for the new CFO?
The annual base salary for John R. Wilson is $325,000.
What stock-based compensation will the new CFO receive?
John R. Wilson will be granted 15,000 restricted stock units that vest over three years.
What is the company's ticker symbol?
The filing does not explicitly state the ticker symbol, but the company name is Americas Car-Mart, Inc.
Filing Stats: 815 words · 3 min read · ~3 pages · Grade level 9.7 · Accepted 2024-08-30 09:01:06
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 per share CRMT NASDAQ Global Select M
Filing Documents
- f8k_082924.htm (8-K) — 39KB
- exh_101.htm (EX-10.1) — 140KB
- 0001171843-24-004987.txt ( ) — 381KB
- crmt-20240827.xsd (EX-101.SCH) — 3KB
- crmt-20240827_lab.xml (EX-101.LAB) — 33KB
- crmt-20240827_pre.xml (EX-101.PRE) — 22KB
- f8k_082924_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. At the 2024 annual meeting of stockholders of America's Car-Mart, Inc. (the "Company"), held on August 27, 2024, the Company's stockholders approved the America's Car-Mart, Inc. 2024 Equity Incentive Plan (the "Plan"). Under the Plan, the Company may grant future awards of stock options, restricted shares, stock appreciation rights, restricted stock units, performance shares and performance units to the Company's employees, officers, directors, consultants or advisors. The Plan includes a reserve of 500,000 shares authorized for issuance under the plan, subject to adjustment in connection with changes in capitalization and reorganization and change in control events. A description of the material terms of the Plan is contained under the heading "Proposal No. 3 – Approval of the 2024 Equity Incentive Plan" in the Company's definitive proxy statement for the 2024 annual meeting of stockholders filed with the Securities and Exchange Commission on July 16, 2024. A copy of the Plan is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
07 Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders The record date for the 2024 annual meeting of stockholders was July 5, 2024, on which date there were a total of 6,621,387 shares of common stock outstanding and entitled to vote. The following matters were voted upon by the Company's stockholders at the annual meeting. The numbers of votes cast for, against or withheld as well as the number of abstentions and broker non-votes, for each of these matters are set forth below. 1. To elect directors for a term of one year: Votes For Votes Against Votes Abstained Broker Non-Votes Ann G. Bordelon 4,761,527 30,303 31,663 1,038,235 Jonathan Z. Buba 4,770,663 21,178 31,652 1,038,235 Douglas W. Campbell 4,776,281 15,549 31,663 1,038,235 Julia K. Davis 4,758,386 30,154 34,953 1,038,235 Daniel J. Englander 4,738,313 53,367 31,813 1,038,235 Dawn C. Morris 4,600,403 31,885 191,205 1,038,235 Joshua G. Welch 4,754,275 37,219 31,999 1,038,235 Jeffrey A. Williams 4,761,398 30,096 31,999 1,038,235 2. To approve an advisory resolution regarding the Company's compensation of its named executive officers. Votes For 4,643,732 Votes Against 146,429 Votes Abstained 33,332 Broker Non-Votes 1,038,235 3. To approve the America's Car-Mart, Inc. 2024 Equity Incentive Plan Votes For 3,608,745 Votes Against 1,181,342 Votes Abstained 33,406 Broker Non-Votes 1,038,235 4. To ratify the selection of Grant Thornton LLP as the independent registered public accounting firm for the fiscal year ending April 30, 2025. Votes For 5,815,431 Votes Against 15,218 Votes Abstained 31,079 Broker Non-Votes 0 No additional business or other matters came before the meeting or any adjournment thereof.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. 10.1 America's Car-Mart, Inc. 2024 Equity Incentive Plan 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
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. America's Car-Mart, Inc. Date: August 30, 2024 /s/ Vickie D. Judy Vickie D. Judy Chief Financial Officer (Principal Financial Officer)