J. Tobin Turner named COO at World Acceptance (NASDAQ: WRLD)

Rhea-AI Filing Summary

World Acceptance Corporation appointed J. Tobin Turner as Executive Vice President and Chief Operating Officer, effective in mid-February 2026. He previously served as Senior Vice President of Strategy and Analytics and has an academic and entrepreneurial background in operations, economics, and multi-location service businesses.

Turner’s initial base salary is $450,000, with eligibility under the Company’s Stock Incentive Plan and other executive benefits. His employment agreement provides severance equal to $450,000 over 24 months (or a lump sum after a change in control), accelerated vesting of certain equity awards, and COBRA premium support if he is terminated without cause or resigns for good reason. In connection with his promotion, he received 6,000 time-based restricted shares vesting quarterly over three years and 2,500 performance-based restricted shares tied to an earnings-per-share target through March 31, 2027, subject to continued employment and performance certification, along with non-compete, non-solicitation, confidentiality, and non-disparagement obligations.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)      February 17, 2026

WORLD ACCEPTANCE CORPORATION

(Exact name of registrant as specified in its charter)

South Carolina	000-19599	57-0425114
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

104 S. Main Street, Greenville, South Carolina	29601
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code (864) 298-9800

n/a

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, No Par Value	WRLD	The Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company	☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.	☐

Item 5.02(b) – Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On February 17, 2026, World Acceptance Corporation (the “Company”) reported that J. Tobin Turner, 51, has been appointed Executive Vice President and Chief Operating Officer of the Company, effective February 13, 2026.

Mr. Turner, age 51, has served as the Company’s Senior Vice President of Marketing and Analytics since 2023. Prior to joining the Company, he served as an Associate Professor of Economics and Business Administration at Presbyterian College from 2010-2023 including serving as Department Chair. He has also founded and managed a series of multi-location-based service businesses for over 10 years. Mr. Turner has a Ph.D. in Operations and Supply Chain Management and a Master of Business Administration.

Mr. Turner’s initial base salary will be $450,000, and he will be eligible to participate in the Company’s Stock Incentive Plan. Mr. Turner will also be eligible to participate in other Company benefit programs on a basis commensurate with his position. The Company also entered into an employment agreement with Mr. Turner which provides, among other things, that if his employment is terminated other than for “cause” or as a result of his resignation for “good reason” (as such terms are defined in the employment agreement), then he will receive (i) severance payments in an amount equal to $450,000, payable over twenty-four (24) months in substantially equal installments following the date of such termination in accordance with the Company’s normal payroll policies (or in a lump sum if such termination occurs within two years following a change in control of the Company), (ii) full acceleration of his outstanding time-vested stock awards, (iii) a pro-rata portion of his performance-based stock awards that are scheduled to vest within 180 days after the date of termination and for which the Compensation and Stock Option Committee certifies that the applicable performance metrics were achieved within such 180-day period, and (iv) a lump sum payment equal to the total premiums he would be expected to pay for eighteen (18) months of COBRA coverage. The employment agreement also restricts Mr. Turner from engaging in certain acts of competition with the Company and from soliciting the Company’s employees or inducing them to leave their employment with the Company during the term of the employment agreement and for a period of two years after the termination of his employment. He has also agreed to customary confidentiality and non-disparagement obligations. 

In connection with his appointment, the Compensation and Stock Option Committee (the “Committee”) approved a grant to Mr. Turner of (i) 6000 shares of service-based restricted stock (“Time-Based RSA”), which will vest in equal quarterly installments over a 3-year period, and (ii) 2500 shares of performance-based restricted stock (“Performance-Based RSA”), which will vest, if at all, based on the achievement of a trailing earnings per share performance target over a performance period beginning on June 1, 2025 and ending on March 31, 2027 (the “Performance Share Measurement Period”), following certification by the Committee of achievement and subject to Mr. Turner’s continued employment at the Company through the last day of the Performance Share Measurement Period or as otherwise provided under the terms of his award agreement or employment agreement.

There are no arrangements or understandings between Mr. Turner and any other person pursuant to which Mr. Turner was appointed to serve as acting Chief Operating Officer of the Company. There are no family relationships between Mr. Turner and any of the Company’s directors or executive officers.

Mr. Turner has no direct or indirect material interest in any existing or currently proposed transaction that would require disclosure under Item 404(a) of Regulation S-K.

The foregoing summary of Mr. Turner’s employment agreement, Time-Based RSA and Performance-Based RSA is qualified in its entirety by reference to the full texts of the employment agreement and form of Time-Based RSA and Performance-Based RSA agreement, which are included as Exhibits 10.1, 10.2 and 10.3, respectively, to this Current Report on Form 8-K and incorporated herein by reference.

Item 7.01 – Regulation FD Disclosure.

On February 17, 2026, the Company issued a press release, announcing Mr. Turner’s promotion. A copy of such press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference in this Item 7.01.

The information contained in this Item 7.01, including in Exhibit 99.1 attached hereto, is “furnished” and not “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section. Such information shall not be incorporated by reference in another filing under the Exchange Act or the Securities Act of 1933, as amended, except to the extent such other filing specifically incorporates such information by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number	Description of Exhibit
10.1	Employment Agreement Dated February 17, 2026, between the Company and J. Tobin Turner
10.2	Form of Restricted Stock Award Agreement (Service- Based) under the 2017 Stock Incentive Plan
10.3	Form of Restricted Stock Award Agreement (Performance- Based) under the 2017 Stock Incentive Plan
99.1	Press release issued February 17, 2026
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	WORLD ACCEPTANCE CORPORATION
	(Registrant)
February 17, 2026
	By:	/s/ John Calmes, Jr.
		John Calmes, Jr.
		Executive VP, Chief Financial & Strategy Officer, and Treasure

Exhibit 99.1

Contact: John L. Calmes Jr. Executive VP, Chief Financial & Strategy Officer, and Treasurer (864) 298-9800

World Acceptance Corporation Names J. Tobin Turner

Executive Vice President and Chief Operating Officer

GREENVILLE, S.C. (February 17, 2026) - World Acceptance Corporation (NASDAQ:WRLD) (“World Acceptance” or “the Company”) today announced that J. Tobin Turner has been appointed Executive Vice President and Chief Operating Officer, effective February 17, 2026.

Mr. Turner has served as the Company’s Senior Vice President of Strategy and Analytics since 2023. In that role, he has led initiatives focused on data-driven decision-making, customer engagement, and operational performance across the Company’s branch-based lending model. As Chief Operating Officer, Mr. Turner will oversee World Acceptance’s branch network and day-to-day operational execution.

Prior to joining World Acceptance, Mr. Turner served as an Associate Professor of Economics and Business Administration at Presbyterian College from 2010 to 2023, including service as Department Chair. In addition to his academic career, he founded and managed a series of multi-location, service-based businesses for more than 10 years.

Mr. Turner holds a Ph.D. in Operations and Supply Chain Management and a Master of Business Administration. “Tobin’s combination of operational expertise, analytical rigor, and real-world leadership experience makes him exceptionally well suited to serve as our Chief Operating Officer,” said R. Chad Prashad, President and Chief Executive Officer of World Acceptance Corporation. “Since joining World Acceptance, Tobin has demonstrated a deep understanding of our branch-based business and a strong commitment to execution excellence. I am confident he will play a critical role in strengthening our operations, supporting our teams in the field, and advancing our long-term strategic objectives.”

Ken Bramlett, Chairman of the Board, added, “The Board is very pleased to support Tobin’s appointment as Chief Operating Officer. His disciplined approach to analytics, operational leadership, and strategic execution has already made a meaningful impact on the Company. We believe Tobin is well positioned to help guide World Acceptance through its next phase of operational growth and performance.”

Mr. Turner said, “I am honored to take on the role of Chief Operating Officer and grateful for the trust placed in me by Chad, Ken, and the Board of Directors. World Acceptance has a strong foundation built on serving our customers and supporting our branch teams. I look forward to continuing to work alongside our talented employees to enhance operational excellence and deliver long-term value for our customers and shareholders.”

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WRLD Names J. Tobin Turner Executive Vice President and Chief Operating Officer

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About World Acceptance Corporation

Founded in 1962, World Acceptance Corporation (NASDAQ: WRLD) is a people-focused finance company that provides personal installment loan solutions and personal tax preparation and filing services to over one million customers each year. Headquartered in Greenville, South Carolina, the Company operates more than 1,000 community-based World Finance branches across 16 states. The Company primarily serves a segment of the population that does not have ready access to credit; however, unlike many other lenders in this segment, the Company strives to work with its customers to understand their broader financial situations, ensure they have the ability and stability to make payments, and help them achieve their financial goals. For more information, visit www.loansbyworld.com.

Cautionary Note Regarding Forward-Looking Information

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including expectations related to Mr. Turner’s appointment. These statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied.

Statements other than those of historical fact, as well as those identified by words such as “anticipate,” “estimate,” “intend,” “plan,” “expect,” “project,” “believe,” “may,” “will,” “should,” “would,” “could,” “probable,” and any variation of the foregoing and similar expressions, are forward-looking statements. Such forward-looking statements are inherently subject to risks and uncertainties, and you should not place undue reliance on them.

Important factors that could cause actual results or performance to differ from the expectations expressed or implied in such forward-looking statements include, among others, changes in Mr. Turner’s plans and the Company’s ability to attract or retain key personnel. These and other factors are discussed in greater detail in Part I, Item 1A, “Risk Factors,” in the Company’s most recent Annual Report on Form 10-K for the fiscal year ended March 31, 2025, as filed with the SEC, and in the Company’s other reports filed with or furnished to the SEC from time to time.

World Acceptance Corporation undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of this release, except as required by law. The Company is not responsible for changes made to this document by wire or Internet services.

-END-

FAQ

Who is J. Tobin Turner and what is his new role at WRLD?

J. Tobin Turner has been appointed Executive Vice President and Chief Operating Officer of World Acceptance Corporation. He previously led Strategy and Analytics and brings a background as an economics professor and multi-location business founder, focusing on operations, analytics, and branch-based service businesses.

What are the key compensation terms for WRLD’s new COO J. Tobin Turner?

J. Tobin Turner’s initial base salary is $450,000, with eligibility for the Company’s Stock Incentive Plan and other executive benefits. His package also includes potential severance, equity acceleration, and COBRA premium support if he is terminated without cause or resigns for good reason under his employment agreement.

What equity awards did World Acceptance grant to J. Tobin Turner?

In connection with his promotion, Turner received 6,000 shares of time-based restricted stock vesting quarterly over three years and 2,500 shares of performance-based restricted stock. The performance shares vest only if a trailing earnings-per-share target is met over a period ending March 31, 2027.

What severance protections does J. Tobin Turner have at World Acceptance?

If Turner is terminated without cause or resigns for good reason, he is entitled to $450,000 in severance over 24 months or a lump sum after a change in control, accelerated vesting of certain stock awards, and a lump-sum payment equal to 18 months of expected COBRA premiums.

Does WRLD’s new COO have non-compete and non-solicitation obligations?

Yes. Turner’s employment agreement restricts him from certain competitive activities and from soliciting World Acceptance employees during his employment and for two years after termination. He also agreed to customary confidentiality and non-disparagement provisions, designed to protect the Company’s business relationships and proprietary information.

What will J. Tobin Turner oversee as Chief Operating Officer of WRLD?

As Chief Operating Officer, Turner will oversee World Acceptance’s branch network and day-to-day operational execution. His role emphasizes data-driven decision-making, customer engagement, and operational performance across the Company’s community-based lending model and related services in its multi-state branch footprint.

What does World Acceptance Corporation (WRLD) do?

World Acceptance Corporation is a people-focused finance company providing personal installment loans and personal tax services. It serves over one million customers annually through more than 1,000 community-based branches across 16 states, primarily targeting consumers without ready access to traditional credit.

Filing Exhibits & Attachments

8 documents

Press Releases

• EX-99.1 EXHIBIT 99.1 12.6 KB

Agreements & Contracts

• EX-10.1 EXHIBIT 10.1 102.1 KB
• EX-10.2 EXHIBIT 10.2 68.4 KB
• EX-10.3 EXHIBIT 10.3 78.6 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.5 KB
• EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE 11.2 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 15.0 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 11.3 KB