America’s Car-Mart CEO Jeff Williams saw his total compensation jump to more than $3 million in fiscal 2019, according to a proxy filed Wednesday with the U.S. Securities & Exchange Commission.
Williams’ total compensation in fiscal 2018 was slightly more than $517,000. Williams’ 2019 base salary was just less than $441,000, up from $401,000 in 2018, and the major reason for the huge pay increase was Williams received $2.5 million in stock options, which will fully vest in the coming years and are tied to the company’s incentive plans.
Car-Mart CFO Vickie Judy’s total compensation was $339,000 in 2019, down from $687,000 in 2018. Judy’s 2019 salary was $232,000, up from $165,000 a year ago, but she received no stock awards after collecting $504,000 in 2018.
Williams, the company’s long-time CFO, and Judy took their current positions Jan. 1, 2018.
The company reported Car-Mart’s median employee compensation was $45,250. The ratio of Williams’ total compensation to the median employee was 68-to-1.
Car-Mart announced it shareholders meeting would be held 10 a.m. Aug. 28 at its headquarters in Bentonville. The agenda included the re-election of the company’s seven board members, an advisory vote on executive compensation and a vote to ratify Grant Thornton LLP as the independent registered public accounting firm.