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No Bonuses But Salaries Up for America’s Car-Mart Execs

2 min read

Executives at America’s Car-Mart Inc. of Bentonville did not receive cash incentive bonuses for the third consecutive year, according to a proxy statement the company filed Friday with the Securities & Exchange Commission.

CEO Hank Henderson and CFO Jeff Williams still saw a big boost in 2016 total compensation after each claimed $464,520 in a stock compensation option award. In fiscal year 2016, which ended April 30, Car-Mart reported income of $11.6 million, a drop from $29.5 million in 2015, and revenue of $567.9 million, up from  $530.3 million in 2015.

Henderson, Car-Mart’s CEO since 2007, earned a salary of $466,400, a slight increase from the $451,169 he made in 2015, and had total compensation of $965,931. Henderson made $501,796 in total compensation in 2015.

Henderson deferred $324,686 of his 2016 salary under the company’s deferred compensation plan.

Williams’ 2016 salary was $367,290, an increase from $355,296, and his total compensation was $862,615, up from $384,715 in 2015. Williams has been the company’s CFO since 2005 and was named president — a position formerly held by Henderson in addition to his CEO duties —  in March.

Car-Mart announced its annual shareholders meeting would be at 10 a.m. Aug. 31 at company’s headquarters in Bentonville. Agenda items include the re-election of seven of eight members of the board of directors, the ratification of Grant Thornton LLP as company accountant and advisory vote on the compensation of named officers.

Car-Mart announced that lead director John David Simmons, 80, would retire from the board at the shareholders meeting. The company announced it had not named a nominee to replace Simmons as of the release of the proxy.

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