Oct 16, 4:02 PM ET
On October 14, 2026, Copart's board approved a 10-year stock option for 20,000,000 shares for CEO A. Jayson Adair, granted outside the company's 2007 Equity Incentive Plan. The option cannot be exercised unless stockholders approve it at the 2026 Annual Meeting or a later special meeting, and it is forfeited if they do not. Shareholders may care because the award is large and is described as Adair's only substantive pay for the 10-year period, with a $1 annual salary and no expected bonus.
- Option covers 20,000,000 shares in four tranches of 5,000,000 shares at $26.27, $35.03, $43.78 and $52.54 per share
- Option has a 10-year term and first becomes exercisable on the 5th anniversary of the October 14, 2026 grant date, subject to continued service as CEO
- Requires stockholder approval at the 2026 Annual Meeting or a special meeting after it; otherwise forfeited in full
- Adair is expected to receive a $1 salary each year and no bonus or additional equity awards during the 10-year period
Read the filing on SEC.gov ↗
Oct 16, 9:59 AM ET
Copart completed its acquisition of ACV Auctions on October 16, 2026, through a merger that followed a tender offer at $10.50 per share in cash. ACV shares have stopped trading on the New York Stock Exchange, and ACV will operate as an independent Copart subsidiary led by its existing leadership team. The filing does not disclose the total deal value or any financial effect on Copart.
- Tender offer price was $10.50 per share in cash, subject to withholding taxes.
- 116,818,409 ACV shares were validly tendered, about 68.43% of shares outstanding, when the offer expired at 5:00 p.m. Eastern Time on October 15, 2026.
- Remaining ACV shares were converted into the right to receive the same $10.50 cash price in the merger completed October 16, 2026.
- ACV shares have ceased trading on the New York Stock Exchange.
Read the filing on SEC.gov ↗
Sep 10, 5:17 PM ET
Copart agreed to acquire ACV Auctions through a cash tender offer at $10.50 per share, an implied equity value of about $1.9 billion, followed by a merger. The price is a premium of about 45% to ACV's unaffected closing price on August 10, 2026, and about 41% to its 30-day volume-weighted average price. For Copart shareholders, the company expects the deal to be neutral to earnings per share in the first full year of ownership and accretive in fiscal 2028 and beyond.
- Offer price of $10.50 per share in cash, implied equity value of about $1.9 billion
- Premium of about 45% to ACV's unaffected closing price on August 10, 2026
- Termination fee of $57.7 million payable by ACV; $115.3 million payable by Copart under specified circumstances
- Expected to close by calendar year-end 2026, funded with cash on hand; not subject to a financing condition
Read the filing on SEC.gov ↗
Sep 10, 4:16 PM ET
Copart reported fourth-quarter fiscal 2026 results for the three months ended July 31, 2026, with revenue up 2.4% but gross profit down 5.5% and net income attributable to Copart down 17.4%. Diluted earnings per share fell to $0.35 from $0.41, and for the full fiscal year diluted EPS declined to $1.55 from $1.59.
- Q4 revenue rose $27.3 million, or 2.4%, to $1.2 billion; gross profit fell $28.3 million, or 5.5%, to $481.4 million
- Q4 net income attributable to Copart fell $68.9 million, or 17.4%, to $327.4 million
- Fiscal 2026 revenue rose 0.4% to $4.7 billion, while net income attributable to Copart fell 4.4% to $1.5 billion
- Fiscal 2026 cash flow statement shows $1.6 billion in common stock repurchases
Read the filing on SEC.gov ↗
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.