Jeffrey Liaw - Apr 1, 2022 Form 4 Insider Report for COPART INC (CPRT)

Role: co-Chief Executive Officer
Signature: /s/ John North, as attorney-in-fact
Stock symbol: CPRT
Transactions as of: Apr 1, 2022
Transactions value $: $0
Form type: 4
Date filed: 4/5/2022, 03:14 PM
Previous filing: Jul 8, 2021

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	CPRT	Stock Option (right to buy)	Award	$0	+325K		$0.00	325K	Apr 1, 2022	Common Stock	325K	$125.68	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	2007 Equity Incentive Plan. Twenty percent (20%) of the options vest on the first anniversary of the date of grant and the balance vests on a monthly basis over the 48 months succeeding such first anniversary. Separate and apart from the time-based vesting schedule, the options are also subject to performance-based vesting, such that no options will be exercisable unless and until the stock price in trading of Copart, Inc. on the NASDAQ Global Select Market is greater than or equal to $157.10 per share (which is an amount equal to 125% of the exercise price of the option) both (1) at the time of any exercise, and (2) as of the closing price for each of the twenty consecutive days in trading preceding the date of any exercise.

Content

2007 Equity Incentive Plan. Twenty percent (20%) of the options vest on the first anniversary of the date of grant and the balance vests on a monthly basis over the 48 months succeeding such first anniversary. Separate and apart from the time-based vesting schedule, the options are also subject to performance-based vesting, such that no options will be exercisable unless and until the stock price in trading of Copart, Inc. on the NASDAQ Global Select Market is greater than or equal to $157.10 per share (which is an amount equal to 125% of the exercise price of the option) both (1) at the time of any exercise, and (2) as of the closing price for each of the twenty consecutive days in trading preceding the date of any exercise.