Copart Inc.

Specialty Business Services • Industrials • Dallas, TX, United States • CPRT (NMS)

972 391 5000 14185 Dallas Parkway, Dallas, TX 75254, United States

Quarter: Q4 2025 Reported: December 11, 2025 Sentiment: Positive

Copart, Inc. provides online auctions and vehicle remarketing services in the United States, the United Kingdom, Germany, Brazil, Canada, the United Arab Emirates, Spain, Finland, Oman, the Republic of Ireland, and Bahrain. It offers a range of services to process and sell vehicles over the internet through its virtual bidding third generation internet auction-style sales technology. The company's services include online seller access, salvage estimation, estimating, end-of-life vehicle processing, transportation, vehicle inspection stations, on-demand reporting, title processing and express, loan payoff, flexible vehicle processing programs, buy it now, sales process, and dealer services. Its services also comprise services to sell vehicles through BluCar, CashForCars.com, CashForCars.ca, CashForCars.de, CashForCars.co.uk, and Cash-for-cars.ie; Copart Recycling service, which allows the public to purchase parts from salvaged and end-of-life vehicles; and copart 360, a proprietary technology that captures clear 360-degree views of interiors and exteriors of cars, trucks, and vans. In addition, it provides IntelliSeller, an automated tool leveraging its vehicle and sales data to assist its sellers in making vital auction decisions; Purple Wave Inc., that offers wholesale construction, agriculture, and fleet remarketing services through no-reserve online auctions; wholesale powersport vehicle remarketing services through live and online auction platforms. The company sells its products to licensed vehicle dismantlers, rebuilders, repair licensees, used vehicle dealers, and exporters, as well as to the public. Copart, Inc. was incorporated in 1982 and is headquartered in Dallas, Texas

Analysis Summary

The Q4 2025 annual meeting of Copart, Inc. on December 5, 2025, was a significant event for corporate governance, with a robust participation rate of approximately 91% of the 967,834,374 outstanding common shares. All twelve director nominees, including Willis J. Johnson, A. Jayson Adair, and Jeffrey Liaw, were successfully elected to the board, each receiving substantial 'For' votes, indicating strong shareholder confidence in the current leadership structure. For instance, Jeffrey Liaw received 821,074,088 votes 'For' against 14,446,803 'Against'.

Shareholders also cast an advisory (non-binding) vote on executive compensation for the fiscal year ended July 31, 2025, which passed with significant approval, garnering 770,518,442 'For' votes. This suggests alignment between the company's compensation practices and shareholder expectations. Furthermore, the appointment of Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending July 31, 2026, was overwhelmingly ratified with 864,365,108 'For' votes. This 8-K filing is exclusively focused on the outcomes of these shareholder votes and does not contain any information regarding the company's financial performance, strategic initiatives, business segment analysis, competitive positioning, market trends, or risk factors related to operational or financial results. Therefore, a detailed financial performance breakdown, forward guidance, or analyst Q&A highlights cannot be provided from this specific document.

Key Highlights

• All twelve director nominees were successfully elected to the board.
• Shareholders approved the advisory (non-binding) vote on executive compensation for fiscal year 2025.
• Ernst & Young LLP was ratified as the independent registered public accounting firm for fiscal year 2026.
• High shareholder participation with approximately 91% of outstanding shares represented at the meeting.
• Strong shareholder support for all management-backed proposals.

Financial Metrics

eps

YoY: Not available in transcript

revenue

N/A

YoY: Not available in transcript

guidance

net income

N/A

YoY: Not available in transcript

Stock Performance (90 Days)

Data through Dec 26, 2025

Layoff Events

Earnings Calls

Positive Signals

• High shareholder turnout (91% participation).
• Unanimous election of all director nominees.
• Overwhelming approval of executive compensation.
• Strong ratification of the independent accounting firm.
• General shareholder alignment with corporate governance proposals.

Risks & Concerns

— This 8-K filing is limited to corporate governance matters and does not contain information on operational or financial risk factors.
— No specific business or market risks were discussed in this annual meeting summary.
— Potential for future shareholder dissent on specific director elections (e.g., Diane M. Morefield had higher 'Against' votes compared to others, though still elected).
— The advisory nature of the executive compensation vote means it is non-binding, though approval indicates current satisfaction.