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For the second consecutive year, America’s Car-Mart CEO Jeff Williams saw a robust raise in compensation in 2020, according to a proxy filed Wednesday with the U.S. Securities & Exchange Commission.
Williams’ total compensation came in at slightly more than $4.9 million, up from $3 million a year ago. In 2018, Williams’ first year as CEO, his total compensation had been a little more than $517,000.
Williams’ 2020 compensation included a base salary of $572,894; Car-Mart said his fiscal 2021 salary would be bumped to $750,000. Williams also received stock option awards of more than $4.1 million; in 2019, he had received option awards of slightly less than $2.5 million.
The company reported Car-Mart’s median employee compensation was $46,500; it had 3,050 total employees. The ratio of Williams’ total compensation to the median employee was 106-to-1.
America’s Car-Mart reported fiscal 2020 earnings in May. Revenue was $744.6 million, up from $669.1 million in 2019, and income was $51.3 million, up from $47.6 million.
CFO Vickie Judy earned total compensation of slightly more than $2.5 million, a massive leap from the $339,747 she earned in 2019. Judy’s base salary was $305,962 but she received slightly less than $2.1 million in option awards after receiving none the previous year.
Chief Operating Officer Leonard Walthall was listed as a named executive officer for the first time. His total compensation was more than $2.5 million, which included a base salary of $305,962, a $107,250 bonus and option awards of slightly more than $2 million.
Car-Mart announced its shareholders meeting would be held at 10 a.m. Aug. 26 at the company’s new headquarters in Rogers. The agenda included the re-election of six board members, an advisory vote on executive compensation and a vote to ratify Grant Thornton LLP as the independent registered public accounting firm.
A seventh board member, Jim von Gremp, will retire after the meeting. Car-Mart said it has not named a replacement candidate.