0001628280-20-001615.txt : 20200214 0001628280-20-001615.hdr.sgml : 20200214 20200214171514 ACCESSION NUMBER: 0001628280-20-001615 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20200214 DATE AS OF CHANGE: 20200214 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: COPART INC CENTRAL INDEX KEY: 0000900075 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-AUTO DEALERS & GASOLINE STATIONS [5500] IRS NUMBER: 942867490 STATE OF INCORPORATION: DE FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-47299 FILM NUMBER: 20621902 BUSINESS ADDRESS: STREET 1: 14185 DALLAS PARKWAY STREET 2: SUITE 300 CITY: DALLAS STATE: TX ZIP: 75254 BUSINESS PHONE: 972-391-5000 MAIL ADDRESS: STREET 1: 14185 DALLAS PARKWAY STREET 2: SUITE 300 CITY: DALLAS STATE: TX ZIP: 75254 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: COPART INC CENTRAL INDEX KEY: 0000900075 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-AUTO DEALERS & GASOLINE STATIONS [5500] IRS NUMBER: 942867490 STATE OF INCORPORATION: DE FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 14185 DALLAS PARKWAY STREET 2: SUITE 300 CITY: DALLAS STATE: TX ZIP: 75254 BUSINESS PHONE: 972-391-5000 MAIL ADDRESS: STREET 1: 14185 DALLAS PARKWAY STREET 2: SUITE 300 CITY: DALLAS STATE: TX ZIP: 75254 SC 13G/A 1 schedule13gawillisjjohnson.htm SC 13G/A Document



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13G/A
Under the Securities Exchange Act of 1934
(Amendment No. 10)*
Copart, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
217204 10 6
(CUSIP Number)
December 31, 2019
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
 ¨ Rule 13d-l(b)
 ¨ Rule 13d-l(c)
 ý Rule 13d-l(d)
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).




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CUSIP No.
217204 10 6
1.
Names of Reporting Persons

Willis J. Johnson
2.
Check the Appropriate Box if a Member of a Group (See Instructions)
 
(a) ¨

(b) ¨
3.
SEC Use Only
4.
Citizenship or Place of Organization

United States of America
Number of Shares Beneficially Owned by Each Reporting Person With:
5.
Sole Voting Power

6,236,671 shares of Common Stock (1)
6.
Shared Voting Power
13,325,673 of Common Stock (2)
7.
Sole Dispositive Power
6,236,671 shares of Common Stock (1)
8.
Shared Dispositive Power
13,325,673 shares of Common Stock (2)
9.
Aggregate Amount Beneficially Owned by Each Reporting Person

19,562,344 shares of Common Stock
10.
Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
11.
Percent of Class Represented by Amount in Row (9)

8.40%
12.
Type of Reporting Person (See Instructions)

IN

(1)
Includes 3,595,300 shares held directly by Willis J. Johnson, 885,442 shares held in a grantor retained annuity trust, for which Mr. Johnson serves as trustee, 885,442 shares held in a second grantor retained annuity trust, for which Mr. Johnson serves as trustee, and 561,320 shares held by Willis and Reba’s Foundation, for which Mr. Johnson serves as President. Also includes options to purchase 309,167 shares of Common Stock, which are exercisable within 60 days of December 31, 2019.
 
(2)
Includes 10,911,673 shares held by the Willis J. Johnson and Reba J. Johnson Revocable Trust DTD 1/16/1997, for which Mr. Johnson and his wife are trustees, 2,014,000 shares held by the Reba Family Limited Partnership II, for which Mr. Johnson and his wife are the general partners, and 400,000 shares held directly by Willis J. Johnson and Reba J. Johnson as community property.

(3)
The calculation of the percentage of outstanding shares of Common Stock beneficially owned by the Reporting Person as of December 31, 2019 is based on 232,454,206 shares of Common Stock indicated as outstanding in the Issuer’s Quarterly Report on Form 10-Q for the period ended October 31, 2019, plus options held by the Reporting Person to purchase 309,167 shares of Common Stock, which are exercisable within 60 days of December 31, 2019.


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Item 1.
(a)Name of Issuer:
Copart, Inc.
(b)Address of Issuer’s Principal Executive Offices:
14185 Dallas Parkway
Suite 300
Dallas, TX 75254
Item 2.
(a)Name of Person Filing:
Willis J. Johnson
(b)Address of Principal Business Office or, if none, Residence:
Willis J. Johnson
c/o Copart, Inc.
14185 Dallas Parkway
Suite 300
Dallas, TX 75254
(c)Citizenship:
United States of America
(d)Title of Class of Securities:
Common Stock
(e)CUSIP Number:
217204 10 6
Item 3.    If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b) or (c), check whether the person filing is a:
(a)
¨    Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).
(b)
¨    Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
(c)
¨    Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).
(d)
¨    Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).
(e)
¨    An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E).
(f)
¨    An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F).
(g)
¨    A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G).
(h)
¨    A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813).
(i)
¨    A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3).
(j)
¨    Group, in accordance with §240.13d-1(b)(1)(ii)(J).
Item 4.
Ownership.
The following information with respect to the ownership of the Common Stock by the Reporting Persons filing this statement on Schedule 13G/A is provided as of December 31, 2019.
(a) Amount Beneficially Owned: 19,562,344
(b) Percent of Class: 8.40% (1)

(c) Number of shares as to which such persons have:

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(i) Sole power to vote or to direct the vote: 6,236,671 (2)
(ii) Shared power to vote or to direct the vote: 13,325,673 (3)
(iii) Sole power to dispose or to direct the disposition of: 6,236,671 (2)
(iv) Shared power to dispose or to direct the disposition of: 13,325,673 (3)
(1)
The calculation of the percentage of outstanding shares of Common Stock beneficially owned by the Reporting Person as of December 31, 2019 is based on 232,454,206 shares of Common Stock indicated as outstanding in the Issuer’s Quarterly Report on Form 10-Q for the period ended October 31, 2019, plus options held by the Reporting Person to purchase 309,167 shares of Common Stock, which are exercisable within 60 days of December 31, 2019.

(2)
Includes 3,595,300 shares held directly by Willis J. Johnson, 885,442 shares held in a grantor retained annuity trust, for which Mr. Johnson serves as trustee, 885,442 shares held in a second grantor retained annuity trust, for which Mr. Johnson serves as trustee, and 561,320 shares held by Willis and Reba’s Foundation, for which Mr. Johnson serves as President. Also includes options to purchase 309,167 shares of Common Stock, which are exercisable within 60 days of December 31, 2019.

(3)
Includes 10,911,673 shares held by the Willis J. Johnson and Reba J. Johnson Revocable Trust DTD 1/16/1997, for which Mr. Johnson and his wife are trustees, 2,014,000 shares held by the Reba Family Limited Partnership II, for which Mr. Johnson and his wife are the general partners, and 400,000 shares held directly by Willis J. Johnson and Reba J. Johnson as community property.
Item 5.    Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following ¨
Item 6.
Ownership of More than Five Percent on Behalf of Another Person.
Not applicable.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person.
Not applicable.
Item 8.
Identification and Classification of Members of the Group.
Not applicable.
Item 9.
Notice of Dissolution of Group.
Not applicable.
Item 10.
Certifications.
Not applicable.


Page 4 of 4 pages


    

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dated: February 14, 2020
                                    
                                
                    
                                                                
WILLIS J. JOHNSON
 
/s/ Willis J. Johnson
 


                                        

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