Car-Mart CEO Jeff Williams’ total compensation rises nearly 500%

by Jeff Della Rosa (JDellaRosa@nwabj.com) 619 views 

Jeff Williams, president and CEO of America’s Car-Mart Inc., earned a 9.8% raise, and his total compensation increased 497.9% to $3.1 million in fiscal 2019, which ended April 30. Williams’ base salary rose from $401,609 in fiscal 2018 to $440,962 in fiscal 2019, according to the company’s proxy filing Wednesday (July 17) with the U.S. Securities and Exchange Commission.

Chief Financial Officer Vickie Judy received a 40.3% raise, and her total compensation declined 50.6% to $339,747 in fiscal 2019. Judy’s base salary increased from $165,577 in fiscal 2018 to $232,308 in fiscal 2019.

The buy here, pay here used car dealer will host its annual shareholder’s meeting at 10 a.m. Aug. 28 at its corporate office in Bentonville. Items include proposals to reelect seven directors to Car-Mart’s Board of Directors and approve Grant Thornton LLP as the company’s accounting firm for the fiscal year ending April 30, 2020.

Following are directors who are running for reelection: Ann Bordelon, chairman Ray Dillon, Daniel Englander, William “Hank” Henderson, Jim von Gremp, Joshua Welch and Williams. Shareholders of record as of July 5 will be able to vote in the meeting. Following is the director compensation for the fiscal year that ended April 30: Bordelon received $13,333; Dillion, $147,767; Englander, $151,100; Henderson, $80,263; Robert Smith, $114,433; von Gremp, $144,433; Welch, $141,100. Smith retired from the board Aug. 28, 2018, and Bordelon joined the board Jan. 1.

Following are shareholders who own more than 5% of the company’s stock along with the directors and executive officers and the amount of stock they own: Dimensional Fund Advisors LP of Austin, Texas, owns 8.5% of company stock, or 570,480 shares; BlackRock Inc. of New York owns 7.8% of the stock, or 524,580 shares; Englander owns 3.7% of the stock, or 249,478 shares; Welch owns 2% of the stock, or 135,761 shares; Henderson owns 1.8% of the stock, or 123,580 shares; and Williams owns 1.6% of the stock, or 108,684 shares. Combined, directors and executive officers own 10% of the stock, or 669,874 shares.

Shares of Car-Mart (NASDAQ: CRMT) closed Wednesday at $84.99, down $1.06, or 1.23%. In the past 52 weeks, the stock has ranged between $104.05 and $62.40.

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