Summary
Copart, Inc. (CPRT) filed an 8-K on September 9, 2011, primarily announcing the upcoming departure of a director. Thomas W. Smith, a board member since 2007 and senior partner at Prescott Investors, has indicated he will not seek re-election at the company's 2011 annual meeting. Mr. Smith's decision is not due to any disagreements with Copart's operations, policies, or practices, and he will continue to serve until the annual meeting.
Key Highlights
- 1Director Thomas W. Smith will not stand for re-election at the 2011 annual meeting.
- 2Mr. Smith has been a member of the Copart board of directors since 2007.
- 3Mr. Smith is a founding senior partner of Prescott Investors, a private investment firm.
- 4The resignation is not related to any disagreements with Copart's operations, policies, or practices.
- 5Mr. Smith will continue to serve as a director until the 2011 annual meeting.
Frequently Asked Questions
Thomas W. Smith is a director of Copart, Inc. and a senior partner at Prescott Investors. He has informed the company that he will not be seeking re-election at the upcoming 2011 annual meeting. His decision is personal and not due to any disagreements with the company.
Mr. Smith will continue to serve as a member of the board of directors until Copart's 2011 annual meeting. The exact date of the meeting is not specified in this filing, but his departure will occur at that time.
Based on the filing, Mr. Smith has approved the report and confirmed he has no disagreements with Copart regarding its operations, policies, or practices. This suggests his decision is likely unrelated to any significant company issues.