Morefield Diane M 4

What Happened

• Diane M. Morefield, a director of Copart, exercised stock options on July 8, 2026. She acquired 50,000 shares at $19.77 per share for a total cash cost of $988,750.
• The same filing also records 50,000 shares listed as a conversion/disposition at $0 (derivative). The filing does not show cash proceeds for that line; it reflects a derivative conversion/disposition rather than a market sale.

Key Details

• Transaction date: 2026-07-08 (Form 4 filed 2026-07-10).
• Acquired: 50,000 shares @ $19.77 = $988,750 (code M — exercise/conversion of derivative).
• Disposed/converted: 50,000 shares @ $0 (code M — derivative conversion; no cash proceeds reported).
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Footnotes: F1 = 2007 Equity Incentive Plan; F2 = options vest monthly over the 12 months following the grant date.
• Timeliness: Form 4 filed two days after the transaction date (appears to be timely).

Context

• This was an options exercise (insider acquiring shares). The separate $0 disposition line likely represents a derivative conversion/net settlement or withholding treatment rather than an open-market sale; the filing itself does not detail the reason.
• Exercises are a non-sale acquisition of shares and therefore are often more informative than routine open-market sales, but filings do not disclose the insider’s motivation.