Leah C. Stearns - 24 Nov 2023 Form 4 Insider Report for COPART INC (CPRT)

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	Award	$0	+75,000		$0.000000	75,000	24 Nov 2023	Common Stock	75,000	$50.81	Direct	F1, F2
transaction	CPRT	Stock Option (right to buy)	Award	$0	+75,000	+100%	$0.000000	150,000	24 Nov 2023	Common Stock	75,000	$50.81	Direct	F2, F3

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

Id	Content
F1	Amended and Restated 2007 Equity Incentive Plan. Twenty percent (20%) of the options vest on the first anniversary of the grant date and the balance vests on a monthly basis over the 48 months succeeding such first anniversary.
F2	The stock options have a ten-year term, and expire on November 24, 2033.
F3	Amended and Restated 2007 Equity Incentive Plan. Twenty percent (20%) of the options vest on the first anniversary of the grant date and the balance vests on a monthly basis over the 48 months succeeding such first anniversary. In addition to service-based vesting, the award is also subject to a performance-based vesting condition, such that no portion of the award may be exercised unless the Copart, Inc. common stock price in trading on the Nasdaq Global Select Market is equal to or greater than $63.51 (an amount equal to 125% of the exercise price), both (i) at the time of any exercise, and (ii) at the closing price of the Copart, Inc. common stock in trading on the Nasdaq Global Select Market for each of the twenty consecutive days preceding the date of any exercise.