SEC Form 4 · accession 0000900075-16-000040
COPART INC · CPRT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Steven D Cohan
Director
Period of report
May 27, 2016
Accepted (ET)
Jun 1, 2016 · 10:19 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000900075
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | May 27, 2016 | M | 40,000 | $20.22 | A | 40,012 | D | |
| Common Stock | May 27, 2016 | M | 40,000 | $13.075 | A | 80,012 | D | |
| Common Stock | May 27, 2016 | M | 40,000 | $17.62 | A | 120,012 | D | |
| Common Stock | May 27, 2016 | M | 40,000 | $16.56 | A | 160,012 | D | |
| Common StockF2 | May 27, 2016 | S | 160,000 | $48.8515 | D | 12 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (right to buy)F3,F4 | $20.22 | May 27, 2016 | M | 40,000 | D | — | Dec 6, 2017 | Common Stock | 40,000 | 0 | D |
| Stock Option (right to buy)F5,F4,F6 | $13.075 | May 27, 2016 | M | 40,000 | D | — | Dec 11, 2018 | Common Stock | 40,000 | 0 | D |
| Stock Option (right to buy)F7,F4 | $17.62 | May 27, 2016 | M | 40,000 | D | — | Dec 3, 2019 | Common Stock | 40,000 | 0 | D |
| Stock Option (right to buy)F8,F4 | $16.56 | May 27, 2016 | M | 40,000 | D | — | Dec 2, 2020 | Common Stock | 40,000 | 0 | D |
Explanation of responses
- F1On March 8, 2012, Copart implemented a two-for-one stock split in the form of a stock dividend, resulting in the reporting person's ownership of 6 additional shares of common stock, which were inadvertently omitted from the reporting person's Form 4 filed on March 7, 2013.
- F2The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $48.789 to $49.04, inclusive. The reporting person undertakes to provide to Copart, Inc., any security holder of Copart, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this Form 4.
- F3This option was previously reported as an option for 20,000 shares of common stock at an exercise price of $40.44 per share, but was adjusted to reflect the stock dividend declared by Copart on March 8, 2012.
- F42007 Equity Incentive Plan. One half of the options vested on the first anniversary of the date of grant and the balance vested on a monthly basis over the 12 months succeeding such first anniversary.
- F5This option was previously reported as an option for 20,000 shares of common stock at an exercise price of $26.15 per share, but was adjusted to reflect the stock dividend declared by Copart on March 8, 2012.
- F6This option expires on December 11, 2018. A previous Form 4 filed on December 15, 2008 contained a clerical error reporting the incorrect expiration date for this option.
- F7This option was previously reported as an option for 20,000 shares of common stock at an exercise price of $35.24 per share, but was adjusted to reflect the stock dividend declared by Copart on March 8, 2012.
- F8This option was previously reported as an option for 20,000 shares of common stock at an exercise price of $33.12 per share, but was adjusted to reflect the stock dividend declared by Copart on March 8, 2012.