Car-Mart executives earn incentives

Rogers-based America’s Car-Mart didn’t give raises to its top executives in fiscal 2022 but did provide them incentives, according to the company’s recent proxy filing with the U.S. Securities and Exchange Commission.

President and CEO Jeff Williams’ base salary was flat at $750,000 in fiscal 2022, which ended April 30, from the previous fiscal year. Williams’ total compensation rose by 18.9% to $948,093, from $797,506. His 2022 total compensation included a $150,000 non-equity incentive.

Vickie Judy, chief financial officer, had a base salary of $400,000 in fiscal 2022, flat from the previous fiscal year. Judy’s total compensation rose by 18.4% to $523,614, from $442,176. Her 2022 total compensation included an $80,000 non-equity incentive.

Leonard Walthall, chief operating officer, earned $400,000 in fiscal 2022, the same as in the previous fiscal year. His total compensation rose by 19.2% to $523,929, from $439,364. His 2022 total compensation included an $80,000 non-equity incentive.

According to the proxy, Car-Mart’s annual shareholders meeting will take place at 10 a.m. on Aug. 30 at the company’s corporate office, 1805 N. Second St., Suite 401, in Rogers.

Shareholders will vote on whether to reelect its seven directors, select Grant Thornton LLP as the independent registered public accounting firm for the fiscal year ending April 30, 2023, increase shares issued by the company’s stock option plan by 185,000, and an advisory vote on executive pay.

Following are the directors seeking reelection: Ann Bordelon, Julia Davis, Daniel Englander, William “Hank” Henderson, Dawn Morris, chairman Joshua Welch and Williams.

The following shareholders own more than 5% of Car-Mart shares:

• New York-based BlackRock Inc., 15.4%
• Malvern, Pa.-based The Vanguard Group, 6.5%
• Boston-based FMR LLC, 5.7%.