WRLDNasdaq

WORLD ACCEPTANCE CORP

Personal Credit Institutions · SC · CIK 108385

Provides installment loans and related financial services to individuals with limited credit access

red 8-K · 90d

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$828M

Market cap

$223.72

Last close

+4.7%

+23.1%

96K

Volume

Price · last 39 sessions+59.2%

May 4L $140.57 · H $223.72Jun 29

300

Total filings

Jun 22, 2026

Last filing

03/31

Fiscal year end

All 8-K · 178 10-Q · 48 11-K · 17 10-K · 17 DEF 14A · 16 SC 13G · 13 10-K/A · 5 8-K/A · 4

Insider Activity

In the 90 days to Mar 10, 2026: 3 sold $2.1M.

Date	Insider	Action	Shares	Price	Value
Mar 10, 2026	Calmes John L JrSee remarks	Sell	1,000	$141.88	$142K
Dec 18, 2025	Prashad R ChadPresident and CEO	Sell	1,476	$147.71	$218K
Dec 18, 2025	Prashad R ChadPresident and CEO	Sell	800	$146.72	$117K
Dec 18, 2025	Prashad R ChadPresident and CEO	Sell	724	$148.62	$108K
Dec 17, 2025	Calmes John L JrSee remarks	Sell	811	$149.47	$121K
Dec 17, 2025	Calmes John L JrSee remarks	Sell	189	$148.11	$28K
Dec 16, 2025	Dyer Daniel ClintonSee remarks	Sell	8,857	$149.00	$1.3M
Dec 15, 2025	Dyer Daniel ClintonSee remarks	Sell	89	$150.00	$13K

Open-market buys & sells (Form 4, transaction codes P/S). Source: SEC structured insider data.

What Changed

Risk factors · May 22, 2025 → Jun 4, 2026

47 added · 28 removed between the two most recent 10-Ks. The risks a company starts — or stops — disclosing are often the story.

Newly disclosed

Artificial intelligence ("AI") tools may increase threat actors' ability to detect or exploit vulnerabilities, to develop ransomware or other malware, to launch cyberattacks, or to otherwise seek to attack systems, data, software, or code relied on by us or our service providers.
The increasing sophistication of AI poses a greater risk of cyber-attacks, such as through identity fraud (such as via "deepfakes"), phishing, and/or social engineering, as malicious actors may exploit AI to create convincing false identities or manipulate internal controls and/or verification processes, or to develop novel or more sophisticated attacks on a more accelerated or larger-scale basis.
The use, adoption, or governance of AI or other emerging technologies, whether in Company-developed tools, third-party vendor solutions, or by malicious actors targeting the Company, could result in inaccurate or biased outputs, unauthorized data exposure, regulatory noncompliance, intellectual property loss, or new attack vectors (including AI-enhanced phishing, deepfake social engineering, and prompt injection) that may adversely impact operations, customer relationships, and financial results.
If AI we utilize is deficient, inaccurate, or controversial, we could experience operational inefficiencies, competitive disadvantages, legal and regulatory challenges, brand or reputational damage, or other negative impacts on our business and financial performance.
Similarly, our business may become reliant on AI technologies or models, and in the future these technologies or models may not remain available, or become unavailable at the capacity or pricing we require to operate our business.
Similarly, AI usage is subject to a range of existing laws and regulations, including those related to fair lending, consumer protection, intellectual property, cybersecurity, data privacy, and equal opportunity.
AI models employed by us or our providers might be flawed due to improper design, implementation, or training, based on data or algorithms that are incomplete, inadequate, misleading, biased, or of poor quality.
Additionally, there is no certainty that our use of AI will successfully enhance our business operations or achieve our intended outcomes, and our competitors may adopt AI more swiftly or effectively than we do.
Importantly, on May 12, 2025, the CFPB withdrew the Order, indicating that the CFPB "is shifting its supervisory priorities to focus on pressing threats to consumers" and that supervision of the Company "is not consistent with these priorities." Additionally, the CFPB has recently signaled that, under current leadership, it would take a less aggressive posture with respect to supervision and enforcement of regulated entities.
Even if using AI is necessary to compete in our industry, its use may introduce us to novel or intensified legal, regulatory, ethical, operational, reputational, or other risks.
AI is under ongoing scrutiny by various governmental and regulatory bodies, and changes in laws and regulations governing AI may adversely affect our ability to utilize AI.
The development, use, or failure to adopt AI and other emerging technologies may adversely affect our business and expose us to legal, regulatory, and reputational risks.

No longer disclosed

The indenture governing our 7.0% senior notes due 2026 (the “Notes”) contains certain covenants that, among other things, limit the Company’s ability and the ability of its restricted subsidiaries to (i) incur additional indebtedness or issue certain disqualified stock and preferred stock;
Importantly, on May 12, 2025, the CFPB withdrew the Order, indicating that the CFPB "is shifting its supervisory priorities to focus on pressing threats to consumers" and that supervision of the Company "is not consistent with these priorities." Additionally, the CFPB has recently signaled that, under current leadership, it would take a less aggressive posture with respect to supervision and enforcement of regulated entities. 23 Table of Contents Although the Dodd-Frank Act prohibits the CFPB from setting interest rates on consumer loans, efforts to create a federal usury cap, applicable to all consumer credit transactions and substantially below rates at which the Company could continue to operate profitably, are still ongoing.
As of March 31, 2025, the Company's debt outstanding was $446.9 million, net of $1.0 million unamortized debt issuance costs related to the unsecured senior notes payable, and a total debt-to-equity ratio of approximately 1.0 to 1.0.
(vii) engage in a merger, consolidation or sell, transfer or otherwise dispose of all or substantially all of their assets; and (viii) engage in transactions with affiliates.
We process a significant number of customer transactions on a continuous basis through our computer systems and networks and are subject to increasingly more risk related to security systems as we enhance our mobile payment technologies and otherwise attempt to keep pace with rapid technological changes in the financial services industry. 18 Table of Contents While we commit resources to the design, implementation, maintenance, testing, and monitoring of our networks and systems and training of our employees, we may be required to expend significant additional resources in the future to modify and enhance our security controls in response to new or more sophisticated threats, new regulations related to cybersecurity and other developments.
Slower adoption of new technologies compared to competitors may reduce competitiveness and adversely impact growth, financial condition, and liquidity. 19 Table of Contents The financial services industry is undergoing rapid technological changes, with frequent introductions of new technology-driven products and services.
The departure or replacement of key personnel—and challenges in attracting or retaining high-performing employees—may disrupt operations and negatively affect the Company’s business and financial results. 26 Table of Contents Our future success significantly depends on the continued service and performance of our key management personnel.
A breach of our covenants under the Notes would have similar consequences.
Like most businesses, our employees are important to our success and we are dependent in part on our ability to retain the services of our key management, operational, compliance, finance, and administrative personnel.
Changes in tax laws or regulations—or adverse interpretations or rulings by tax authorities—may increase the Company’s tax burden or negatively impact financial condition and operating results.
Restrictions imposed by debt agreements may limit the Company’s ability to pursue certain strategic, operational, or financial activities, potentially constraining business flexibility.
Misconduct by our employees or third-party contractors, or even unsubstantiated allegations of misconduct, could result in a material adverse effect on our reputation and our business.

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