Jamie Z. Fischer
About Jamie Z. Fischer
Jamie Z. Fischer, age 46, has served as Chief Operating Officer (COO) of America’s Car-Mart since October 7, 2024; her employment agreement was executed September 19, 2024 . She holds a bachelor’s degree in management and organizational leadership from St. Petersburg College and a Master of Science from the University of Alabama in Human Environmental Sciences, and previously led operations for 149 dealerships and 15 reconditioning centers at DriveTime . Company performance context during her first fiscal year at CRMT (FY2025) included cumulative TSR value of $100 investment at $71.9 vs peer group $274.2, net income of $17.9 million, and SG&A per average customer of $1,823, metrics used in the company’s pay-versus-performance disclosure . Her FY2025 bonus metrics were focused on EVA by dealership, SG&A per average customer, net customer growth, average dollars collected per customer, and an individual performance component, with disclosed payout percentages for FY2025 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| DriveTime Automotive Group, Inc. | Head of Operations | 2021–2024 | Responsible for operations across 149 dealerships and 15 reconditioning centers |
| DriveTime Automotive Group, Inc. | Senior Managing Director, Retail & Inventory Operations | 2018–2021 | Led retail and inventory operations |
| DriveTime & SilverRock, Inc. | Operations and HR leadership roles | 2012–2018 | Operations and leadership development across affiliated warranty company and retail footprint |
| Auto retail industry (prior to DriveTime) | Operations and leadership development | ~2002–2012 | Nearly a decade of experience in operations and leadership development |
Fixed Compensation
| Component | Terms | FY2025 Actual |
|---|---|---|
| Base Salary | $400,000 annual, subject to review | $218,462 reported (partial-year) |
| Signing Bonus | $200,000 total; 50% within 30 days of start; 50% at 12-month anniversary, contingent on employment | $100,000 reported (first half) |
| Annual Bonus (STI) | FY2025 target 100% of base; maximum 120%; FY2025 guaranteed at 100% pro-rated; based on Company + individual performance | $240,563 non‑equity incentive plan compensation |
| Perquisites | Executive health insurance, automobile, 401(k) match; relocation reimbursed for new execs | $3,705 auto; $73,229 relocation; $15,080 executive health (All Other Compensation $92,014) |
Performance Compensation
| Metric | Weighting | FY2025 Target | FY2025 Actual Payout | Notes |
|---|---|---|---|---|
| SG&A expense per average customer | 20% of total target bonus | Company-set FY2025 goal | 100% of target for Fischer | STI component based on unit economics |
| Net customer growth | 20% of total target bonus | Company-set FY2025 goal | 100% of target for Fischer | Growth focus in customer base |
| EVA by dealership | 20% of total target bonus | Company-set FY2025 goal | 100% of target for Fischer | EVA metric by store |
| Average dollars collected per customer | 20% of total target bonus | Company-set FY2025 goal | 118% of target for Fischer | Collection effectiveness |
| Individual performance component | 20% of total target bonus | Role-specific goals | 115% of target for Fischer | CEO/Committee assessed |
Pay-versus-performance measures used by the company include EPS, ROE, and SG&A per average customer; FY2025 cumulative TSR value of $100 investment was $71.9 and net income $17.9 million .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership | 8,905 shares; consists solely of unvested restricted stock |
| Ownership as % of outstanding | Below 1% (shown as “*” in proxy table) |
| Options held | None; no unexercised or unvested options disclosed for Fischer |
| Stock ownership guidelines | COO required to hold stock equal to 3x base salary; 5-year compliance window; executives either in compliance or within transition as of July 31, 2025 |
| Pledging | No pledging disclosed for Fischer; her holdings consist solely of unvested RS |
Outstanding Equity Awards and Vesting Schedule (as of April 30, 2025)
| Award Type | Shares | Vesting Dates | Market Value at $47.42/share |
|---|---|---|---|
| Time-based RSU (grant 10/18/2024) | 5,978 | Cliff vest on 10/18/2025 | $283,477 |
| Time-based RSU (grant 12/31/2024) | 2,927 | 1,464 on 12/31/2027; 1,463 on 12/31/2029 | $138,798 |
Market value calculations in proxy use the closing price on April 30, 2025 of $47.42 .
Employment Terms
| Provision | Terms |
|---|---|
| Role & start date | COO, effective October 7, 2024 |
| Agreement date | Employment offer letter signed September 19, 2024 |
| At-will employment | Employment may be terminated by either party at any time |
| Severance (non‑CIC) | 12 months of base salary if terminated without cause or resigns for good reason |
| Change-in-control (double trigger) | If termination without cause or for good reason within 6 months before or 12 months after a CIC: lump-sum 12 months base salary; immediate vesting of all unvested restricted stock, subject to plan limits |
| 280G treatment | Cutback to avoid excise tax if beneficial vs paying excise; ordering: cash first, then equity acceleration; reverse order by grant for equity |
| Non-compete | 12 months post-termination across defined territories and adjacent counties |
| Non-solicitation | 12 months for customers and employees |
| Confidentiality & IP | Trade secrets and confidential information protections; work product owned by company |
| Clawback | Subject to company clawback policies; company adopted Rule 10D‑1-compliant policy on Nov 30, 2023 |
| Deferred compensation | Eligible for nonqualified deferred comp plan |
Payments Upon Termination or CIC (as of April 30, 2025, illustrative)
| Scenario | Cash | Restricted Shares | Total |
|---|---|---|---|
| Termination other than for cause | $400,000 | $0 | $400,000 |
| Change in control (double trigger) | $400,000 | $0 shown for Fischer in table | $400,000 |
Table built per SEC methodology assuming event dates on April 30, 2025; Fischer had no options; RS acceleration for CIC is provided in her agreement but proxy table shows $0 value under RS for Fischer at that date .
Say-on-Pay & Governance Signals
- 2025 Say‑on‑Pay advisory vote: 5,948,778 For; 45,365 Against; 359,302 Abstained; 1,200,314 broker non‑votes, indicating strong support .
- NEO clawback policy adopted Nov 30, 2023; no recovery required for FY2024–FY2025 disclosures restatement context since STI metrics weren’t impacted .
Investment Implications
- Pay-for-performance alignment: Fischer’s STI metrics tie to operational levers (SG&A/customer, collections, EVA/store, net customer growth) with disclosed payout outcomes (100% for three metrics; 118% for collections; 115% individual), reinforcing focus on unit economics and cash collection efficiency .
- Near-term vesting pressure: A 5,978-share cliff vest on October 18, 2025 could create near-term selling pressure or trading signals around that date; additional vesting occurs in December 2027 and 2029 .
- Ownership and alignment: Beneficial ownership consists solely of unvested restricted stock (8,905 shares, <1%); she must meet 3x salary ownership guideline within five years, which moderates alignment risk as she builds position but indicates low current “skin-in-the-game” .
- Retention and change-in-control economics: Severance of 12 months’ salary and CIC double-trigger cash plus RS acceleration provide retention and transaction certainty; inclusion of 280G cutback avoids shareholder-unfriendly tax gross-ups .
- Governance and risk: Strong say-on-pay support reduces immediate compensation risk; existing clawback policy and lack of pledging mitigate red flags; no options outstanding reduces leverage but also limits potential misalignment from option repricing .