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

Role
Chief Financial Officer
Signature
/s/ Paul K. Kirkpatrick, attorney-in-fact
Stock symbol
CPRT
Transactions as of
Nov 24, 2023
Transactions value $
$0
Form type
4
Date filed
11/28/2023, 05:26 PM
Previous filing
Dec 6, 2022

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 +75K $0.00 75K Nov 24, 2023 Common Stock 75K $50.81 Direct F1, F2
transaction CPRT Stock Option (right to buy) Award $0 +75K +100% $0.00 150K Nov 24, 2023 Common Stock 75K $50.81 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

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.