DJ America's Car-Mart Files 8K - Director, Officer or Compensation Filing >CRMT

America's Car-Mart Inc. (CRMT) filed a Form 8K - Director, Officer or Compensation Filing - with the U.S Securities and Exchange Commission on November 26, 2019.

On November 26, 2019, the Compensation Committee of the Board of Directors of America's Car-Mart, Inc. (the "Company") recommended, and the Board of Directors approved, the following annual base salary increases for its named executive officers, effective December 1, 2019: Jeffery A. Williams, President and Chief Executive Officer, $750,000; Vickie D. Judy, Chief Financial Officer, and Leonard L. Walthall, Chief Operating Officer, each $400,000.

In connection with the base salary increases, the Compensation Committee agreed to retain a short-term incentive program for named executive officers for fiscal 2020; however, the Committee does not intend to adopt a short-term incentive program for the named executive officers for fiscal 2021.

The short-term incentive bonuses for Mr. Williams and Ms. Judy for fiscal 2020 will be based on the attainment of a projected fully diluted GAAP earnings per share goal for the fiscal year. If the Company's actual fully diluted GAAP earnings per share equals 95-99% of the projected fully diluted GAAP earnings per share, the bonus paid will be the targeted bonus potential amount for the executive multiplied by 0.67. If the Company's actual fully diluted GAAP earnings per share equals 100-104% of the projected fully diluted GAAP earnings per share, the bonus paid will be the targeted bonus potential amount for the executive multiplied by 1.0. If the Company's actual fully diluted GAAP earnings per share equals 105% or more of the projected fully diluted GAAP earnings per share, the bonus paid will be the targeted bonus potential amount for the executive multiplied by 1.33. The targeted bonus potential amounts for fiscal 2020 for Mr. Williams and Ms. Judy are $100,000 and $80,000, respectively.

The short-term incentive bonus for Mr. Walthall for fiscal 2020 will be based on the attainment of a similar net income goal for the fiscal year. If the Company's actual net income equals 95-99% of budgeted net income, the bonus paid will be the targeted bonus potential amount for the executive multiplied by 0.67. If the Company's actual net income equals 100-105% of budgeted net income, the bonus paid will be the targeted bonus potential amount for the executive multiplied by 1.0. If the Company's actual net income equals 106% or more of budgeted net income, the bonus paid will be the targeted bonus potential amount for the executive multiplied by 1.65. The targeted bonus potential amount for fiscal 2020 for Mr. Walthall is $65,000.

The full text of this SEC filing can be retrieved at: http://www.sec.gov/Archives/edgar/data/799850/000117184319007926/f8k_120319.htm

Any exhibits and associated documents for this SEC filing can be retrieved at: https://www.sec.gov/Archives/edgar/data/799850/000117184319007926/0001171843-19-007926-index.htm

Public companies must file a Form 8-K, or current report, with the SEC generally within four days of any event that could materially affect a company's financial position or the value of its shares.

(END) Dow Jones Newswires

December 03, 2019 16:39 ET (21:39 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.