CEO Jeff Williams of America’s Car-Mart Inc. of Rogers had total compensation of almost $950,000 in fiscal 2022, according to a proxy statement filed Tuesday with the U.S. Securities & Exchange Commission.
Williams’ compensation, officially $948,093, was an increase from the $797,506 he earned in 2021. His base salary was $750,000, the same amount he made in 2021, and he earned $150,000 in incentive plan compensation.
Chief Financial Officer Vickie Judy had total compensation of $523,614, an increase from $442,176 in 2021. Judy’s compensation included a 2022 base salary of $400,000, the same as the previous year, and incentive plan compensation of $80,000.
Leonard Walthall, the company’s COO, earned total compensation of $523,929, up from $439,364 in 2021. His compensation include a base salary of $400,000, unchanged from 2021, and $80,000 from the incentive plan.
The company did not report Car-Mart’s median employee compensation nor the ratio between Williams’ pay and the median employee. America’s Car-Mart did release those figures in 2021 but said regulations only require the information once every three years unless there is a significant change.
America’s Car-Mart said it had 3,100 U.S. employees earning a median compensation of $48,000 in 2021, which was a ratio of 16.6 to 1 based on Williams’ compensation of $797,506. Assuming the median employee income is in the same neighborhood, the 2022 ratio would be approximately 19.75 to 1.
The company announced its shareholders meeting would be held at 10 a.m. Aug. 30 at the company’s headquarters in Rogers. The agenda includes the election of seven board members, an advisory vote on executive compensation and a vote to ratify Grant Thornton LLP as its independent public accounting firm.