| Item 1. | Security and Issuer |
| (a) | Title of Class of Securities:
Common Stock, no par value |
| (b) | Name of Issuer:
World Acceptance Corporation |
| (c) | Address of Issuer's Principal Executive Offices:
104 S Main Street, Greenville,
SOUTH CAROLINA
, 29601. |
Item 1 Comment:
The following constitutes Amendment No. 11 (the "Amendment") to the joint filing on Schedule 13D by Thomas W. Smith, Scott J. Vassalluzzo, Steven M. Fischer and Prescott Associates L.P. ("Prescott Associates") originally filed with the Securities and Exchange Commission (the "SEC") on June 30, 2011, as amended by Amendment No. 1 filed with the SEC on January 5, 2012 by Prescott General Partners LLC ("PGP"), Prescott Associates, Thomas W. Smith and Scott J. Vassalluzzo, Amendment No. 2 filed with the SEC on December 14, 2012 by PGP, Prescott Associates, Idoya Partners L.P. ("Idoya Partners"), Thomas W. Smith and Scott J. Vassalluzzo, Amendment No. 3 filed with the SEC on December 20, 2012 by PGP, Prescott Associates, Thomas W. Smith and Scott J. Vassalluzzo, Amendment No. 4 filed with the SEC on May 10, 2013 by PGP, Prescott Associates, Thomas W. Smith and Scott J. Vassalluzzo, Amendment No. 5 filed with the SEC on November 5, 2014 by PGP, Prescott Associates, Thomas W. Smith and Scott J. Vassalluzzo, Amendment No. 6 filed with the SEC on July 30, 2015 by PGP, Prescott Associates, Idoya Partners, Thomas W. Smith and Scott J. Vassalluzzo, Amendment No. 7 filed with the SEC on July 31, 2015 by PGP, Prescott Associates, Idoya Partners, Thomas W. Smith and Scott J. Vassalluzzo, Amendment No. 8 filed with the SEC on February 12, 2020 by PGP, Prescott Associates, Idoya Partners, Prescott Investors Profit Sharing Trust ("PIPS"), Thomas W. Smith and Scott J. Vassalluzzo, Amendment No. 9 filed with the SEC on February 20, 2025 by PGP, Prescott Associates, Idoya Partners, PIPS, Thomas W. Smith and Scott J. Vassalluzzo and Amendment No. 10 filed with the SEC on July 7, 2025 by PGP, Prescott Associates, Idoya Partners, PIPS, Thomas W. Smith and Scott J. Vassalluzzo (as amended, the "Schedule 13D"). Unless otherwise indicated, all capitalized terms used herein shall have the meanings given to them in the Schedule 13D, and unless amended or supplemented hereby, all information previously filed remains in effect. |
| Item 4. | Purpose of Transaction |
| | Item 4 of the Schedule 13D is hereby amended and restated in its entirety as follows:
"As described more fully in Item 5 below, as general partner of the Partnerships, PGP may be deemed to beneficially own 1,512,424 shares of Common Stock held by the Partnerships. PIPS may be deemed to beneficially own 50,286 shares of Common Stock held on behalf of the employee profit-sharing plan participants. Messrs. Smith and Vassalluzzo may be deemed to beneficially own 77,600 and 1,788 shares of Common Stock, respectively, in their capacities as investment managers for several managed accounts, which consist of investment accounts for: (i) a private charitable foundation established by Mr. Smith and for which Mr. Smith acts as trustee, and (ii) certain family members of Mr. Vassalluzzo and certain individual accounts managed by Mr. Smith. The Partnerships, PIPS and the managed accounts are referred to collectively herein as the "Managed Accounts". The 1,642,098 shares of Common Stock owned by the Managed Accounts (the "Managed Account Shares") were acquired by the Reporting Persons on behalf of the Managed Accounts for the purpose of achieving the investment goals of the Managed Accounts.
Mr. Vassalluzzo currently serves as a director of the Issuer and beneficially owns 30,000 shares of Common Stock for his own account. In addition, Mr. Smith may be deemed to beneficially own 483,000 shares held by Ridgeview Smith Investments LLC, a limited liability company established by Mr. Smith, the sole member of which is a revocable trust established by Mr. Smith for the benefit of his family (the "Ridgeview Shares"). Mr. Smith acquired the Ridgeview Shares for investment purposes.
Depending upon market conditions, the availability of funds, an evaluation of alternative investments, and such other factors as may be considered relevant, each of the Reporting Persons may purchase or sell shares of Common Stock if deemed appropriate and opportunities to do so are available, in each case, on such terms and at such times as such Reporting Person considers desirable. The Reporting Persons may talk or hold discussions with various parties, including, but not limited to, the Issuer's management, its board of directors, and other shareholders and third parties, for the purpose of developing and implementing strategies to maximize shareholder value, including strategies that may, in the future, result in the occurrence of one or more of the actions or events enumerated in clauses (a) through (j) of Item 4 of Schedule 13D.
Subject to the foregoing, none of the Reporting Persons has any present plan or proposal which relates to or would result in any of the actions or events enumerated in clauses (a) through (j) of Item 4 of Schedule 13D. In addition, each Reporting Person disclaims any obligation to report any plan or proposal known to such Reporting Person solely as a result of Mr. Vassalluzzo's position as a director of the Issuer and his participation in such capacity in decisions involving an action or event described in clauses (a) through (j) in Item 4 of Schedule 13D. |
| Item 5. | Interest in Securities of the Issuer |
| (a) | Based on information included in the Form 10-Q filed by the Issuer on August 6, 2025, which disclosed that 5,445,788 shares of Common Stock were outstanding as of August 1, 2025, the aggregate number and percentage of shares of Common Stock beneficially owned by each of the Reporting Persons is as follows: PGP - 1,512,424 shares (27.8%); Prescott Associates - 952,070 shares (17.5%); Idoya Partners - 518,550 shares (9.5%); PIPS - 50,286 shares (0.9%); Mr. Smith - 560,600 shares (10.3%); and Mr. Vassalluzzo - 31,788 shares (0.6%). |
| (b) | PGP, as the general partner of the Partnerships, may be deemed to share the power to vote or to direct the vote and to dispose or to direct the disposition of 1,512,424 shares. Prescott Associates has the shared power to vote or to direct the vote and to dispose or to direct the disposition of 952,070 shares. Idoya Partners has the shared power to vote or to direct the vote and to dispose or to direct the disposition of 518,550 shares. PIPS has the sole power to vote or to direct the vote of and to dispose or to direct the disposition of 50,286 shares. Messrs. Smith and Vassalluzzo have the sole power to vote or to direct the vote of and to dispose or to direct the disposition of 493,000 and 31,788 shares, respectively. In their capacities as investment managers for managed accounts, Messrs. Smith and Vassalluzzo may be deemed to share the power to vote or to direct the vote of 67,600 and no shares, respectively, and to share the power to dispose or to direct the disposition of 67,600 and no shares, respectively. Voting and investment authority over investment accounts established for the benefit of certain family members and friends of Messrs. Smith and Vassalluzzo is subject to each beneficiary's right, if so provided, to terminate or otherwise direct the disposition of the investment account. |
| (c) | On September 4, 2025, the Reporting Persons sold shares of Common Stock to the Issuer pursuant to its share repurchase program at a price of $172.88 per share as follows:
(i) Prescott Associates: 260,297 shares
(ii) Idoya Partners: 57,844 shares
(iii) Prescott International Partners L.P., a private investment limited partnership, the general partner of which is PGP: 11,569 shares
(iv) PIPS: 17,354 shares
Each sale was effected by direct transfer through the facilities of the Depository Trust Company's DWAC system. During the past 60 days, none of the other Reporting Persons effected any transactions involving shares of Common Stock. |
| Item 7. | Material to be Filed as Exhibits. |
| | Agreement relating to the joint filing of statement on Schedule 13D dated September 8, 2025. |
