Copart (NASDAQ: CPRT) ties 114K CFO options to $39.51 stock price
Rhea-AI Filing Summary
COPART INC (CPRT) reported equity awards to Chief Financial Officer Leah C. Stearns. She received 12,654 Restricted Stock Units, each representing one share of common stock, and 200,000 stock options with a per-share exercise price of $31.61, expiring on August 16, 2036.
The RSUs vest 20% on August 16, 2027, with the remainder vesting quarterly so that all vest by the fifth anniversary. The options vest over five years with time-based vesting; 114,400 of these options also require Copart’s stock to trade at or above $39.51 for twenty consecutive trading days and at exercise to become exercisable.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
STEARNS LEAH C
Role
Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units F1, F2 | 12,654 | $0.00 | $0.00 |
| Grant/Award | Stock Options F3 | 200,000 | $0.00 | $0.00 |
Holdings After Transaction:
Restricted Stock Units — 12,654 shares (Direct);
Stock Options — 200,000 shares (Direct)
Footnotes (3)
- F1. Each restricted stock unit represents a contingent right to receive one share of Copart, Inc. common stock.
- F2. Twenty percent of the Restricted Stock Units (RSUs) vest on the first anniversary of the grant date (August 16, 2027), and the balance vests cumulatively at a rate of 1/20 each three month quarter thereafter, such that 100% of the RSUs will vest on the fifth anniversary of the grant date.
- F3. 100% of the stock options are subject to time -based vesting, with 20% of the stock options vesting on the first anniversary of the grant date, and the balance vesting at a rate of 1/60 per month thereafter, such that 100% of the stock options will vest and become exerciseable on the fifth anniversary of the grant date. In addition to the time-based vesting, 114,400 of the stock options are subject to an additional performance-based vesting condition and will not be exerciseable unless and until the trading price of the Copart, Inc. Common Stock in trading on the Nasdaq Global Select Market is an amount greater than or equal to $39.51 (125% of the per share exercise price) both (1) at the moment of any exercise, and (2) at the closing price for each of the twenty consecutive trading days preceding the date of any exercise.
Key Figures
RSUs Granted: 12,654 units
Stock Options Granted: 200,000 options
Option Exercise Price: $31.61 per share
+5 more
8 metrics
RSUs Granted
12,654 units
Restricted Stock Units granted to CFO Leah C. Stearns on August 16, 2026
Stock Options Granted
200,000 options
Stock options on Copart common stock granted on August 16, 2026
Option Exercise Price
$31.61 per share
Exercise price for the 200,000 stock options
Option Expiration Date
August 16, 2036
Expiration of granted stock options
Performance-Based Options Tranche
114,400 options
Portion of options subject to additional performance-based vesting condition
Performance Stock Price Threshold
$39.51 per share
Required Copart trading price (125% of exercise price) for performance-based options
RSU Initial Vesting
20%
Portion of RSUs vesting on August 16, 2027, first anniversary of grant
Performance Lookback Period
20 trading days
Consecutive trading days Copart stock must meet $39.51 threshold before any exercise
Key Terms
Restricted Stock Units, time -based vesting, performance-based vesting condition, exercise price, +1 more
5 terms
Restricted Stock Units financial
"Each restricted stock unit represents a contingent right to receive one share"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
time -based vesting financial
"100% of the stock options are subject to time -based vesting, with 20%"
performance-based vesting condition financial
"114,400 of the stock options are subject to an additional performance-based vesting condition"
exercise price financial
"125% of the per share exercise price"
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
Nasdaq Global Select Market market
"trading price of the Copart, Inc. Common Stock in trading on the Nasdaq Global Select Market"
A Nasdaq Global Select Market listing is the highest tier of stocks on the Nasdaq exchange, reserved for companies that meet the strictest financial, reporting and governance standards. For investors, it acts like a premium quality label—signaling larger, more transparent and better-governed companies that tend to offer greater liquidity and lower perceived risk compared with lower-tier listings, making it easier to buy, sell and evaluate shares.
FAQ
What equity awards did Copart (CPRT) grant to CFO Leah C. Stearns?
Copart granted Leah C. Stearns 12,654 RSUs and 200,000 stock options. The RSUs convert into common shares as they vest, while the options allow purchase of shares at a fixed $31.61 exercise price if vesting conditions are met.
What is the vesting schedule for the 12,654 RSUs granted by CPRT?
The 12,654 RSUs vest 20% on August 16, 2027, then 1/20 each quarter thereafter. This cumulative schedule results in 100% of the RSUs vesting by the fifth anniversary of the August 16, 2026 grant date.
What are the key terms of the 200,000 stock options granted by Copart (CPRT)?
The grant covers 200,000 stock options with a per-share exercise price of $31.61 and expiration on August 16, 2036. All are subject to time-based vesting over five years, with a portion also subject to additional performance conditions.
How do the performance-based conditions affect 114,400 of the Copart (CPRT) options?
For 114,400 options, exercise is allowed only if Copart’s stock trades at or above $39.51 at exercise and as the closing price for twenty consecutive trading days before exercise, in addition to satisfying the time-based vesting schedule.
When will all of Leah C. Stearns’s Copart (CPRT) stock options be fully vested and exercisable?
All 200,000 stock options are scheduled to vest and become exercisable by the fifth anniversary of the grant date. However, 114,400 of them also require meeting the $39.51 stock-price performance condition before they can be exercised.
AI-generated analysis. How Rhea-AI works. Not financial advice.
