World Acceptance CEO resigns, interim successor exits after 7 weeks; covenant relief obtained

Filed June 4, 2026 · Period ending March 31, 2026 · Compared to 10-K May 22, 2025 · ~2 min read

Key Changes

• high

  CEO Chad Prashad resigned April 10, 2026; interim CEO Janet Matricciani appointed April 13 and departed June 3 (less than two months); COO J. Tobin Turner now serves as Principal Executive Officer while permanent CEO search continues.

  MD&A: Executive Leadership / Notes: Subsequent Events verify on EDGAR →
• high

  Company obtained temporary covenant relief on revolving credit facility, lowering fixed charge coverage ratio requirement from 2.25x to 2.20x (Q4 FY2026), 2.10x (Q1 FY2027), and 2.15x (Q2 FY2027) before reverting to 2.25x.

  Notes: Debt Covenants verify on EDGAR →
• high

  Net income fell 61% year-over-year to $34.6 million (from $89.7 million), driven by $59 million increase in personnel expenses and $19.4 million higher credit loss provision; debt-to-equity ratio rose from 1.0x to 1.7x.

  MD&A: Financial Performance / Notes: Income Statement verify on EDGAR →