WORLD ACCEPTANCE CORP 8-K

What Happened World Acceptance Corporation announced on Feb 17, 2026 (effective Feb 13, 2026) that J. Tobin Turner, 51, has been promoted to Executive Vice President and Chief Operating Officer. Turner had served as the company’s Senior Vice President of Marketing and Analytics since 2023. His background includes academic roles (Associate Professor and Department Chair at Presbyterian College) and more than a decade founding and managing multi-location service businesses. The Company also furnished a press release announcing the promotion.

Key Details

• Base salary: $450,000 annually; eligible for the Company’s Stock Incentive Plan and standard benefit programs.
• Employment agreement severance: $450,000 (equal to one year’s base pay) payable over 24 months (or in a lump sum if termination occurs within two years after a change in control).
• Equity awards: 6,000 service-based restricted shares vesting in equal quarterly installments over 3 years; 2,500 performance-based restricted shares subject to a trailing EPS performance target for the period June 1, 2025 – March 31, 2027 (vesting contingent on Committee certification and continued employment).
• Other terms: lump-sum COBRA premium payment covering 18 months if eligible; post-employment non-compete and non-solicit restrictions for two years; confidentiality and non-disparagement obligations. No related-party or family relationships reported.

Why It Matters The appointment formalizes a senior operations leader who will oversee day-to-day execution for the company. Investors should note the compensation mix (cash salary, equity awards tied to EPS performance) that aligns Turner’s pay with company performance, and the potential near-term obligations: the annual cash salary level and a defined severance exposure of $450,000 plus COBRA premium coverage. The equity grants create potential future dilution if they vest, and the performance-based award ties part of his compensation to specific EPS targets for the 2025–2027 period. A press release accompanying the filing was furnished as Exhibit 99.1.