Copart (NASDAQ: CPRT) grants president 500K options, $39.51 test
Rhea-AI Filing Summary
COPART INC (CPRT) reported that President Jane Pocock received equity awards on August 16, 2026. She was granted 25,308 Restricted Stock Units, each representing one share of common stock, and 500,000 stock options with an exercise price of $31.61 per share. 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 and expire in 2036, and 279,000 options also require the stock price to reach at least $39.51 for twenty consecutive trading days before they become exercisable.
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Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Pocock Jane
Role
President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units F1, F2 | 25,308 | $0.00 | $0.00 |
| Grant/Award | Stock Options F3 | 500,000 | $0.00 | $0.00 |
Holdings After Transaction:
Restricted Stock Units — 25,308 shares (Direct);
Stock Options — 500,000 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, 279,000 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: 25,308 shares
Options Granted: 500,000 shares
Option Exercise Price: $31.61 per share
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8 metrics
RSUs Granted
25,308 shares
Restricted Stock Units granted to President Jane Pocock on August 16, 2026
Options Granted
500,000 shares
Stock options on Copart common stock granted on August 16, 2026
Option Exercise Price
$31.61 per share
Exercise price for 500,000 stock options
RSU Initial Vesting
20%
RSUs vest 20% on August 16, 2027
RSU Full Vesting
5 years
All RSUs vest by the fifth anniversary of August 16, 2026
Options Performance Tranche
279,000 options
Portion of options subject to additional performance-based vesting
Performance Price Hurdle
$39.51 per share
Required trading price (125% of exercise price) for performance-based options
Option Expiration
2036-08-13
Expiration date of the 500,000 stock options
Key Terms
Restricted Stock Units, time -based vesting, performance-based vesting condition, exerciseable
4 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
"In addition to the time-based vesting, 279,000 of the stock options are subject to an additional performance-based vesting condition"
exerciseable financial
"such that 100% of the stock options will vest and become exerciseable on the fifth anniversary"
FAQ
What equity awards did COPART INC (CPRT) grant to President Jane Pocock?
COPART granted Jane Pocock 25,308 RSUs and 500,000 stock options on August 16, 2026. Both awards are tied to Copart common stock and vest over five years under specified time-based and, for part of the options, performance-based conditions.
What is the vesting schedule for Jane Pocock’s 25,308 COPRT Restricted Stock Units?
The 25,308 RSUs vest 20% on the first anniversary, August 16, 2027. The remaining 80% vest cumulatively at 1/20 each quarter, so all RSUs will be fully vested on the fifth anniversary of the grant date.
What are the key terms of the 500,000 COPRT stock options granted to Jane Pocock?
Jane Pocock received 500,000 stock options with an exercise price of $31.61 per share, expiring in 2036. They are subject to time-based vesting over five years, with 20% vesting after one year and the rest vesting monthly thereafter.
How many of Jane Pocock’s COPRT options are subject to performance conditions and what are they?
279,000 of the 500,000 options have a performance-based vesting condition. Copart’s stock must trade at or above $39.51 both at exercise and as the closing price for twenty consecutive trading days before those options are exercisable.
When will Jane Pocock’s COPRT equity awards be fully vested if conditions are met?
Both the RSUs and the time-based portion of the stock options are structured to be fully vested and exercisable on the fifth anniversary of the August 16, 2026 grant date, assuming all time and performance conditions are satisfied.
Does COPART receive any cash from Jane Pocock’s RSU and option grants?
The RSUs involve no exercise price, so no cash is paid on grant or vesting. The stock options have an exercise price of $31.61, so Copart would receive cash only if and when options are exercised in the future.
AI-generated analysis. How Rhea-AI works. Not financial advice.
