Car-Mart raises executive base pay, extends contracts

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by The City Wire staff ([email protected]) July 2, 2013 2:16 pm 113 views 

The top three executives of Bentonville-based America’s Car-Mart signed contract extensions on Monday, July 1, according to filings with the Securities and Exchange Commission.

William (Hank) Henderson, Eddie L. Hight and Jeffrey A. Williams each had their contracts extended to April 30, 2015.

CEO Henderson earned a base salary of $440,000 last year, up 7% from the prior year. Total compensation for Henderson in fiscal 2013 was $581,226, this compared to $608,576 in the prior fiscal year.

Henderson’s pay was less in 2013 because he received a higher bonus in 2012 based on exceeded expectations in the company’s total annual earnings.

Chief operating officer Eddie Hight, earned $330,000 in base salary in fiscal 2013, up 7.3% from the prior year. Williams, chief financial officer earned the same.

Hight earned a total of $427,938 in fiscal 2013, down 5.2% from the prior year because of smaller performance-based bonuses tied to net earnings.

William’s total compensation this past year was $438,216, up 1.52% from the prior year.

Car-Mart will hold its annual shareholder meeting on Aug. 21 at the company’s corporate office in Bentonville. The agenda includes the re-election of six directors for another fiscal year which will began on May 1.

Directors up for re-election
Daniel J. Englander, age 44, has served as a director since February 2007.  He  is the founder and Managing Partner of Ursula Investors, an investment partnership founded in 2004. 

William H. Henderson, age 49, has served as a director since September 2002. Henderson has also served as Car-Mart’s CEO since October 2007 and as president since May 2002. 

William M. Sams, age 75, has served as a director since March 2005. Sams manages his personal investments and is a general partner of Marlin Sams Fund, L.P.  

John David Simmons, age 77, has been a director since August 1986. Since 1970, Simmons has been president of Simmons & Associates, a real estate development company, and Management Resource, a management consulting firm.

Robert Cameron Smith, 62, has served as a director since December 2009. Smith is the founder and president of Cameron Smith & Associates Inc., an executive recruiting firm located in Bentonville. Smith found his firm in 1994.