8-K
filed March 12, 2024, 7:59 PM ET
ticker CPRT
CIK 0000900075
leadership
confidence high
sentiment positive
materiality 0.70
Copart appoints Jeff Liaw as sole CEO; Jay Adair becomes Executive Chairman, effective April 1, 2024
COPART INC
- Jeff Liaw, previously Co-CEO since March 2022, becomes sole CEO and joins Board, increasing board size to 12.
- A. Jayson Adair transitions from Co-CEO to Executive Chair; remains an active executive officer.
- Willis J. Johnson continues as Chairman of the Board but no longer as executive chairman.
- Board ratified Liaw's personal use of corporate aircraft for security purposes under new policy.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Jeffrey Liaw was appointed as Director at COPART INC.
- Action
- appointed
- Role
- Director
Exact text from the filing
and in connection with such appointment, the size of the Board will be increased from 11 directors to 12 directors
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
A. Jayson Adair changed role as Executive Chair at COPART INC.
- Action
- transitioned
- Role
- Executive Chair
Exact text from the filing
A. Jayson Adair will transition from serving as a co-Chief Executive Officer of the Company to serving as the Company’s Executive Chair and will continue to serve as a member of the Company’s Board of Directors
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Jeffrey Liaw changed role as Chief Executive Officer at COPART INC.
- Action
- promoted
- Role
- Chief Executive Officer
Exact text from the filing
Jeffrey Liaw will become the Company’s sole Chief Executive Officer and be appointed to the Board
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.9
Willis J. Johnson changed role as Chairman of the Board at COPART INC.
- Action
- reclassified
- Role
- Chairman of the Board
Exact text from the filing
Willis J. Johnson will continue to serve as the chairman of the Board but will no longer serve as an executive chairman
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
COPART INC: Adopted amended and restated Bylaws to increase maximum board size from 11 to 12 directors, add Executive Chair officer role, and clarify chairman of Board is not an officer (effective 2024-04-01).
- Change
- bylaw amendment
- Effective
- 2024-04-01
Exact text from the filing
the Board approved the adoption of amended and restated Bylaws of the Company, to be effective as of the Effective Date, which will amend the Company’s current Bylaws to, among other things, (i) increase the maximum size of the Board from 11 directors to 12 directors, (ii) add the role of Executive Chair to the list of the Company’s officers and (iii) clarify that the role of chairman of the Board is a position of the Board and not an officer of the Company.
View on SEC.gov
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