www.sec.gov/Archives/edgar/data/804269/0001145443-02-00 -
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Published on: 10/25/2002
Last Visited: 10/28/2002
Michael R. Barrington, 43, has been a director since 1990.Mr. Barrington has been Vice Chairman, President and Chief Executive Officer since July 2000.Mr. Barrington served as Vice Chairman, President and Chief Operating Officer from November 1996 to July 2000 and was Executive Vice President and Chief Operating Officer from May 1991 until November 1996.
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Morris, Barrington, Berce and Esstman) and to non-employee directors of stock options and reserves, in the aggregate, a total of 2,000,000 shares of Common Stock for issuance upon exercise of stock options granted under such plan.
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Michael R. Barrington
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Morris, Barrington and Berce.
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Includes the use of AMERICREDIT CORP aircraft valued on the basis of the aggregate incremental cost to AMERICREDIT CORP of $79,577 for Mr. Morris; $69,055 for Mr. Barrington; and $59,733 for Mr. Berce.
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Payment by AMERICREDIT CORP of premiums for term life insurance on behalf of Mr. Barrington, $2,037; Mr. Berce, $2,120; Mr. Michael T. Miller, $579; and Mr. Preston A. Miller, $501; and
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Annual premium payments under split-dollar life insurance policies on Mr. Morris, $75,000; Mr. Barrington, $37,991; and Mr. Berce, $37,913.
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Michael R. Barrington
Vice Chairman, President &
CEO
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Michael R. Barrington
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Michael R. Barrington
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Effective October 1, 2001, the Committee authorized base salary increases of $100,000 for Mr. Barrington, to $750,000 annually and $75,000 for Mr. Berce, to $700,000 annually.
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Barrington, Berce, and Preston A. Miller were considered appropriate in light of the continuing growth and financial success of AMERICREDIT CORP.
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Morris, Barrington and Berce until the stock options covered by the 1998 Limited Stock Option Plan for AmeriCredit Corp. ( 1998 Plan ) are fully vested and exercisable.
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Barrington and Berce.
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Morris, Barrington and Berce are not eligible to participate in such plans.
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Barrington and Berce.
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Barrington and Berce.
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In the view of the Committee, Mr. Barrington, in his second year as CEO, has continued to demonstrate highly
effective leadership and vision in the face of the current business environment and consistently delivered financial and operating performance that meets or exceeds business objectives.In addition, Mr. Barrington has put in place an executive leadership team critical to the future success of AMERICREDIT CORP.
During fiscal 2002, Mr. Barrington received $725,068 in base salary, a salary the Committee believes is inline with
the base salaries paid to the top executive officer at similarly-sized financial services companies.The salary amount shown for Mr. Barrington in the Executive Compensation
Summary Compensation Table on page 8 of this Proxy Statement includes director fees in addition to his base salary.
As discussed above, the Committee believes that the cash bonus under the 2002 incentive plan equal to 250% of Mr.
Barrington s base salary reflects Mr. Barrington s performance against established business objectives.Similar to the last three fiscal years, no stock options or other stock-based, long-term incentive awards were made to Mr. Barrington during fiscal 2002.Moreover, Mr. Barrington is ineligible to receive grants under all stock option and other stock-based, long-term incentive plans adopted by AMERICREDIT CORP subsequent to the 1998 Plan.
Officers and Directors
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Barrington and Berce, $345,000; Mr. Michael T. Miller, $255,000; and Mr. Preston A. Miller, $145,000.
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Morris, Barrington, Berce and Michael T. Miller, three years thereafter.
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Barrington and Berce, executive officers of AMERICREDIT CORP, each executed Amended
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Barrington and Berce in September 2000, bear interest at a rate equal to LIBOR plus 1%, and provide that Messrs.
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Barrington and Berce can borrow, repay and reborrow from time to time thereunder.
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Morris, Barrington, Berce and Esstman are not eligible to participate in the 2000 Plan.
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Morris, Barrington, Berce and Esstman as eligible persons under the 2000 Plan.
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Michael R. Barrington
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Morris, Barrington, Berce and Esstman) may be made in the form of restricted share awards in order to encourage compliance with the guidelines.
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Morris, Barrington, Berce, and Esstman are not eligible
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Morris, Barrington, Berce and Esstman shall not be eligible to receive award(s) under the 2000 Plan.
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Clifton H. Morris, Jr., Michael R. Barrington, Daniel E. Berce and Edward H. Esstman.
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The undersigned hereby appoints Clifton H. Morris, Jr., Michael R. Barrington and Daniel E. Berce, and each of them, as proxies, each with the power to appoint his substitute, and hereby authorizes them to represent and vote, as designated on the reverse side, all of the shares of the common stock of AmeriCredit Corp. (AMERICREDIT CORP ), held of record by the undersigned on October 11, 2002, at the Annual Meeting of Shareholders of AMERICREDIT CORP to be held on November 26, 2002, at 10:00 a.m. (Central Standard Time), at the Fort Worth Club, 306 West Seventh Street, Fort Worth, Texas 76102, and any adjournments thereof.
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