America’s Car-Mart President Douglas Campbell earned more than $4.7 million in total compensation in fiscal 2023, according to a proxy statement filed with the U.S. Securities & Exchange Commission on Wednesday.
Campbell was hired by Car-Mart in October to take over the role held by CEO Jeff Williams since 2016. Campbell was formerly an executive with Avis Budget Group of Parsippany, New Jersey, and AutoNation of Fort Lauderdale.
Campbell’s compensation included a prorated salary of $375,000 — his full year’s pay is $650,000 — a $500,000 bonus and more than $3.6 million in stock and options.
Williams earned total compensation of $928,554, a slight drop from $948,093 in 2022. His salary was $750,000, same as the previous year, and he received $120,000 in incentive plan compensation, $30,000 less than the year before.
CFO Vickie Judy earned total compensation of $515,751, down from $523,644 in 2022. Her salary was $400,000, same as the previous year, and she received $64,000 in incentive plan compensation, down from $80,000.
Former COO Leonard Walthall, who changed positions to senior vice president of field operations in January, earned total compensation of $505,760, down from $523,929 a year ago. His salary was $391,346, down from $400,000, and he received $64,000 in incentive plan compensation, down from $80,000.
America’s Car-Mart said it had 4,106 employees, all in the U.S. earning a median compensation of $52,747 in 2023, which is a ratio of 18 to 1 based on Williams’ compensation of $928,554. The company did not report the CEO pay ratio in its 2022 proxy filing.
The company announced its shareholders meeting would be held at 10 a.m. Aug. 29 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.