America's Car-Mart Inc filed SEC Form 8-K: Leadership Update, Submission of Matters to a Vote of Security Holders, Financial Statements and Exhibits

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

 

Washington D.C. 20549

 

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

 

Date of Report (Date of earliest event reported): August 27, 2024

 

 

AMERICA’S CAR-MART, INC.

(Exact name of registrant as specified in its charter)

 

 

Texas	0-14939	63-0851141
(State or other jurisdiction of incorporation)	(Commission file number)	(I.R.S. Employer Identification No.)

 

 

1805 North 2^nd Street, Suite 401, Rogers, Arkansas 72756

(Address of principal executive offices, including zip code)

 

 

(479) 464-9944

(Registrant’s telephone number, including area code)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.01 per share	CRMT	NASDAQ Global Select Market

 

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

At the 2024 annual meeting of stockholders of America’s Car-Mart, Inc. (the “Company”), held on August 27, 2024, the Company’s stockholders approved the America's Car-Mart, Inc. 2024 Equity Incentive Plan (the “Plan”). Under the Plan, the Company may grant future awards of stock options, restricted shares, stock appreciation rights, restricted stock units, performance shares and performance units to the Company’s employees, officers, directors, consultants or advisors. The Plan includes a reserve of 500,000 shares authorized for issuance under the plan, subject to adjustment in connection with changes in capitalization and reorganization and change in control events. A description of the material terms of the Plan is contained under the heading “Proposal No. 3 – Approval of the 2024 Equity Incentive Plan” in the Company’s definitive proxy statement for the 2024 annual meeting of stockholders filed with the Securities and Exchange Commission on July 16, 2024. A copy of the Plan is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

 

Item 5.07

Submission of Matters to a Vote of Security Holders

 

The record date for the 2024 annual meeting of stockholders was July 5, 2024, on which date there were a total of 6,621,387 shares of common stock outstanding and entitled to vote. The following matters were voted upon by the Company’s stockholders at the annual meeting. The numbers of votes cast for, against or withheld as well as the number of abstentions and broker non-votes, for each of these matters are set forth below.

 

1.  To elect directors for a term of one year:
		Votes For		Votes Against		Votes Abstained		Broker Non-Votes
Ann G. Bordelon		4,761,527		30,303		31,663		1,038,235
Jonathan Z. Buba		4,770,663		21,178		31,652		1,038,235
Douglas W. Campbell		4,776,281		15,549		31,663		1,038,235
Julia K. Davis		4,758,386		30,154		34,953		1,038,235
Daniel J. Englander		4,738,313		53,367		31,813		1,038,235
Dawn C. Morris		4,600,403		31,885		191,205		1,038,235
Joshua G. Welch		4,754,275		37,219		31,999		1,038,235
Jeffrey A. Williams		4,761,398		30,096		31,999		1,038,235
2.  To approve an advisory resolution regarding the Company's compensation of its named executive officers.
Votes For		4,643,732
Votes Against		146,429
Votes Abstained		33,332
Broker Non-Votes		1,038,235
3.  To approve the America's Car-Mart, Inc. 2024 Equity Incentive Plan
Votes For		3,608,745
Votes Against		1,181,342
Votes Abstained		33,406
Broker Non-Votes		1,038,235
4.  To ratify the selection of Grant Thornton LLP as the independent registered public accounting firm for the fiscal year ending April 30, 2025.
Votes For		5,815,431
Votes Against		15,218
Votes Abstained		31,079
Broker Non-Votes		0

 

No additional business or other matters came before the meeting or any adjournment thereof.

 

Item 9.01.

Financial Statements and Exhibits.

 

(d) Exhibits.

 

10.1		America’s Car-Mart, Inc. 2024 Equity Incentive Plan
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

		America’s Car-Mart, Inc.
Date:  August 30, 2024		/s/ Vickie D. Judy
		Vickie D. Judy
		Chief Financial Officer
		(Principal Financial Officer)