Car-Mart executive pay flat in 2023, proxy shows

News BriefsNorthwest Arkansas

by Jeff Della Rosa ([email protected]) July 20, 2023 9:03 am 739 views 

Jeff Williams, CEO of Rogers-based America’s Car-Mart Inc., maintained his salary of $750,000 in fiscal 2023, according to the company’s proxy filed Wednesday (July 19). The pay was flat from the previous two years.

Williams’ total compensation fell by 2.1% to $928,554 in fiscal 2023 from $948,093 in the previous year. Fiscal 2023 was from May 1, 2022, to April 30, 2023.

President Douglas Campbell earned a salary of $375,000 in fiscal 2023. Campbell was hired in October 2022. His total compensation was $4.73 million in fiscal 2023.

Chief Financial Officer Vickie Judy maintained her $400,000 salary in fiscal 2023. The pay was flat from the previous two years. Her total compensation fell by 1.5% to $515,751 in 2023 from $523,614 in 2022.

The salary of Leonard Walthall, former chief operating officer, declined by 2.2% to $391,346 in 2023 from $400,000 in 2022. His base salary was $400,000 through Dec. 31. In January, Walthall was named senior vice president of field operations and no longer served as the chief operating officer as of April 30. His total compensation fell by 3.5% to $505,760 in 2023 from $523,929 in 2022.

The proxy also shows Car-Mart will host its annual shareholders meeting at 10 a.m. on Aug. 29 at its corporate office. Shareholders will vote on the following items: Whether to reelect the company’s seven directors, advisory vote on executive pay, a one-year frequency on the vote on executive pay and the appointment of Grant Thornton LLP as the company’s independent registered accounting firm for the fiscal year ending April 30, 2024.

The existing directors seeking reelection include Ann Bordelon, Julia Davis, Daniel Englander, William “Hank” Henderson, Dawn Morris, chairman Joshua Welch and Williams.

Following shareholders own more than 5% of company shares:

  • BlackRock Inc. of New York, 15.2%
  • Magnolia Capital Fund LP of Omaha, Neb., 11.1%
  • FMR LLC of Boston, 9.8%
  • The Vanguard Group of Malvern, Pa., 6.1%
  • Dimensional Fund Advisors LP of Austin, Texas, 5.5%

Shares of Car-Mart (NASDAQ: CRMT) closed Wednesday at $118.82, up $1 or 0.85%. In the past 52 weeks, the stock has ranged between $52.24 and $127.96.