[8-K] WORLD ACCEPTANCE CORP Reports Material Event

Rhea-AI Filing Summary

World Acceptance Corporation announced that President and CEO R. Chad Prashad resigned from his executive roles and board seat effective April 10, 2026, to pursue other opportunities. His departure is not due to any disagreement with the company, and will be treated as a termination without cause under his employment and equity agreements.

Under a separation agreement, Prashad will receive severance of $1,260,000 paid over 24 months, accelerated vesting of time-based equity awards, Supplemental Income Plan payments, a lump-sum COBRA premium payment for 18 months, and title to his company car and mobile phone, with vested options exercisable for up to one year. The board appointed former CEO Janet L. Matricciani as Interim President and CEO effective April 13, 2026, under a 12‑month employment agreement providing a monthly salary of $83,333, a $350,000 signing bonus, and a stock grant of 7,095 shares vesting monthly. Upon Prashad’s departure, the board size was reduced from seven to six directors.

Insights

Corporate governance analyst

CEO change with structured severance and an experienced interim leader looks orderly but important.

The company is undergoing a leadership transition as CEO R. Chad Prashad resigns, while retaining a cooperative posture evidenced by a negotiated separation treated as a termination without cause. The package includes $1,260,000 in severance over 24 months and accelerated vesting of time-based equity.

The board quickly named former CEO Janet L. Matricciani as interim leader on a defined 12‑month contract, with a monthly salary of $83,333, a $350,000 signing bonus, and 7,095 shares vesting monthly. This limits near-term uncertainty by installing someone familiar with the business.

Governance terms include non-competition, confidentiality, non-disparagement, and clawback provisions for Prashad, plus indemnification and D&O coverage for Matricciani. The board also reduced its size from seven to six members, aligning structure with the new composition; subsequent disclosures in future filings may elaborate on long-term succession planning.

8-K Event Classification

3 items: 5.02, 8.01, 9.01

3 items

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Understanding 8-K Material Events →

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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)   April 10, 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. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Resignation of President and Chief Executive Officer

On April 10, 2026, R. Chad Prashad informed World Acceptance Corporation (the “Company”) of his resignation from his positions as President and Chief Executive Officer and as a member of the Company’s Board of Directors, effective April 10, 2026, in order to pursue other opportunities. Mr. Prashad’s resignation from the Board is not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices. The Company and Mr. Prashad have agreed that Mr. Prashad’s resignation will be treated as a termination by the Company without cause (other than in connection with a change in control) for all purposes under his employment agreement and related equity award agreements with the Company.

In connection with his departure from the Company, Mr. Prashad and the Company entered into a separation agreement and general release (the “Separation Agreement”) with an effective separation date of April 10, 2026 (the “separation date”).  Consistent with the requirements of Mr. Prashad’s employment agreement for a termination by the Company without cause and the Company’s customary practices, under the Separation Agreement Mr. Prashad is entitled to receive the following: (i) a lump sum payment of his accrued base salary, vacation pay, and expenses, as well as vested benefits under any Company benefit plans or programs, through the separation date; (ii) severance pay in the amount of $1,260,000, payable over 24 months; (iii) accelerated vesting of his outstanding stock options and equity incentive awards that are subject solely to time-based vesting; (iv) payments under the Company’s Supplemental Income Plan; (v) a lump sum payment equal to the total premiums he would be expected to pay for eighteen (18) months of COBRA coverage and (vi) title to his Company car and a mobile phone.  Stock options (both time-based and performance-based) that are vested on Mr. Prashad’s separation date will be exercisable for one year following the separation date, or until their expiration date if shorter.

The Separation Agreement includes customary waiver and release provisions in favor of the Company, as well as non-competition, confidentiality, and non-disparagement covenants. In addition, certain payments and benefits due to Mr. Prashad under the Separation Agreement are subject to recovery by the Company in accordance with the Company’s compensation Clawback Policy and also upon the occurrence of certain specified events.

The foregoing description of the Separation Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the agreement, a copy of which is filed as Exhibit 10.1 hereto and incorporated herein by reference.

Appointment of Interim President and Chief Executive Officer

Until a permanent successor to Mr. Prashad is appointed, the Board has appointed Janet L. Matricciani as Interim President and Chief Executive Officer, effective April 13, 2026.

Ms. Matricciani, age 58, has served as a business consultant since January 2018 through JLM Consulting LLC.  She also served as President and Chief Operating Officer of AHP Servicing LLC, a mortgage loan product and servicing company, from April 2022 until March 2023.  Prior to that time Ms. Matricciani was employed with the Company as President and Chief Executive Officer from 2015 until 2018 and also served as a director and as Chief Operating Officer of the Company from 2014 to 2015.  From 2010 to 2013, Ms. Matricciani served as the Chief Executive Officer of Antenna International, a leading creator of handheld audio, multimedia and virtual tours for museums, cultural and historic sites, and tourist attractions. From 2008 to 2010, Ms. Matricciani served as senior vice president of corporate development for K12 Inc., a technology-based education company. From 2005 to 2007, Ms. Matricciani served as executive vice president for Countrywide Financial Corporation. From 2001 to 2005, Ms. Matricciani served in various executive-level roles for Capital One Financial Corporation. Earlier in her career, Ms. Matricciani worked as a consultant for McKinsey & Company, and Monitor Company.   Ms. Matricciani holds Bachelor of Arts and Master of Arts Degrees in Engineering from Trinity College at Cambridge University and a Master of Business Administration Degree from the Wharton School of Business at the University of Pennsylvania.  There are no transactions in which Ms. Matricciani has an interest requiring disclosure under Item 404(a) of Regulation S-K. Ms. Matricciani has no family relationship with any other director or other executive officer of the Company.

Ms. Matricciani has entered into an employment agreement, dated April 13, 2026 (the “Employment Agreement”) in connection with her service as Interim President and Chief Executive Officer.  Under the terms of the Employment Agreement, Ms. Matricciani will be receive a salary of $83,333 per month 12 months, a $350,000 signing bonus and a stock grant of 7,095 shares based on the closing price of the Company’s common stock on April 13, 2026 of $140.95, which shall vest in 12 equal monthly installments during the term of her Employment Agreement.  She will also be entitled to the same benefits as the Company’s other executive officers, other than a car allowance and participation in the Company’s Supplemental Executive Retirement Plan.  The Employment Agreement has a twelve-month term and is terminable by either party.  In the event the Employment Agreement is terminated by the Company without cause prior to the end of the twelve-month term, Ms. Matricciani will be eligible to receive continued payment of the balance of her unpaid salary up through the end of the twelve-month term of the Employment Agreement.  Under the terms of the Employment Agreement, the Company is also required to provide Ms. Matricciani with an indemnification agreement and cover her under its D&O insurance to the same extent it indemnifies its other executive officers for matters arising out of her service as Interim President and Chief Executive Officer.

The foregoing description of the Employment Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the agreement, a copy of which is filed as Exhibit 10.2 hereto and incorporated herein by reference. The press release announcing Ms. Matricciani’s appointment as Interim President and Chief Executive Officer is included as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 8.01. Other Events

Board Size

Upon Mr Prashad’s departure from the Board, the Board reduced the size of the Board from seven to six directors, as permitted by the Company’s bylaws.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number	Description
10.1	Separation Agreement, dated April 13, 2026, by and between R. Chad Prashad and World Acceptance Corporation
10.2	Employment Agreement, dated April 13, 2026, by and between Janet L. Matricciani and World Acceptances Corporation
99.1	Press Release, dated April 13, 2026, announcing the resignation of President and Chief Executive Officer and appointment of interim President and Chief Executive Officer
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
Date: April 14, 2026	By:	/s/ John L. Calmes, Jr.
		John L. Calmes, Jr.
		Executive VP, Chief Financial & Strategy Officer and Treasurer

Exhibit 99.1

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

World Acceptance Corporation Names Janet Matricciani Interim CEO

Former company CEO with extensive experience returns to serve company through transition

GREENVILLE, S.C. (April 13, 2026) - World Acceptance Corporation (NASDAQ: WRLD) today announced that its board of directors has appointed Janet Matricciani as interim president and chief executive officer effective April 13, 2026. Ms. Matricciani’s hiring follows the resignation of R. Chad Prashad as president and CEO and a member of the board to pursue other opportunities. The board has initiated a search to identify a permanent replacement.

Janet previously served as our CEO and led a period of significant transformation for the Company, implementing systems and improving operations,” said Board Chair Ken Bramlett, Jr. “We are delighted to welcome her back. Her proven leadership, deep knowledge of the business, and track record of driving results make her well suited to guide the Company through this next phase.”

Ms. Matricciani brings extensive leadership experience across multiple industries, including financial services, technology-enabled tourism, and education. Since her prior tenure as CEO, she has served in senior executive and advisory roles, with a focus on driving operational improvement and strategic growth.

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 Ms. Matricciani’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 Ms. Matricciani’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.

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Filing Exhibits & Attachments

7 documents

Press Releases

• EX-99.1 EXHIBIT 99.1 8.6 KB

Agreements & Contracts

• EX-10.1 EXHIBIT 10.1 57.5 KB
• EX-10.2 EXHIBIT 10.2 62.7 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