Summary
Copart, Inc. (CPRT) filed an 8-K report on October 21, 2011, detailing executive compensation adjustments. The Compensation Committee of the Board of Directors approved cash bonuses for the fiscal year ended July 31, 2011. These bonuses were paid to the principal financial officer and other named executive officers, as identified in the company's prior proxy statement.
Key Highlights
- 1Copart, Inc. reported on executive bonus payments for the fiscal year ended July 31, 2011.
- 2The Compensation Committee approved the cash bonuses.
- 3Vincent W. Mitz, identified as the principal financial officer, received a cash bonus of $500,000.
- 4William E. Franklin received a cash bonus of $319,385.
- 5Russell D. Lowy received a cash bonus of $207,551.
- 6The report was filed on October 21, 2011, with the earliest event date being October 14, 2011.
- 7The filing is made pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
Frequently Asked Questions
The primary purpose of this 8-K filing is to disclose the approval and payment of cash bonuses to Copart's principal financial officer and other named executive officers for the fiscal year ended July 31, 2011.
The cash bonuses were paid to Vincent W. Mitz ($500,000), William E. Franklin ($319,385), and Russell D. Lowy ($207,551).
The bonuses were approved by the Compensation Committee of Copart's Board of Directors on October 14, 2011.
No, this specific 8-K filing focuses solely on the compensation of certain executive officers. It does not report on other significant corporate events such as departures of directors, elections of directors, or appointments of other officers.