8-K - WRLD - Equibles

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)	February 17, 2026
WORLD ACCEPTANCE CORPORATION
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(Exact name of registrant as specified in its charter)
South Carolina	000-19599	57-0425114
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(State or other jurisdiction<br><br> <br>of incorporation)	(Commission<br><br> <br>File Number)	(IRS Employer<br><br> <br>Identification No.)
104 S. Main Street, Greenville, South Carolina	29601
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(Address of principal executive offices)	(Zip Code)
Registrant’s telephone number, including area code	(864) 298-9800
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n/a
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(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which<br><br> <br>registered
Common Stock, No Par Value	WRLD	The Nasdaq Global Select Market
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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Emerging growth company	☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.	☐

Item 5.02(b) – Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On February 17, 2026, World Acceptance Corporation (the “Company”) reported that J. Tobin Turner, 51, has been appointed Executive Vice President and Chief Operating Officer of the Company, effective February 13, 2026.

Mr. Turner, age 51, has served as the Company’s Senior Vice President of Marketing and Analytics since 2023. Prior to joining the Company, he served as an Associate Professor of Economics and Business Administration at Presbyterian College from 2010-2023 including serving as Department Chair. He has also founded and managed a series of multi-location-based service businesses for over 10 years. Mr. Turner has a Ph.D. in Operations and Supply Chain Management and a Master of Business Administration.

Mr. Turner’s initial base salary will be $450,000, and he will be eligible to participate in the Company’s Stock Incentive Plan. Mr. Turner will also be eligible to participate in other Company benefit programs on a basis commensurate with his position. The Company also entered into an employment agreement with Mr. Turner which provides, among other things, that if his employment is terminated other than for “cause” or as a result of his resignation for “good reason” (as such terms are defined in the employment agreement), then he will receive (i) severance payments in an amount equal to $450,000, payable over twenty-four (24) months in substantially equal installments following the date of such termination in accordance with the Company’s normal payroll policies (or in a lump sum if such termination occurs within two years following a change in control of the Company), (ii) full acceleration of his outstanding time-vested stock awards, (iii) a pro-rata portion of his performance-based stock awards that are scheduled to vest within 180 days after the date of termination and for which the Compensation and Stock Option Committee certifies that the applicable performance metrics were achieved within such 180-day period, and (iv) a lump sum payment equal to the total premiums he would be expected to pay for eighteen (18) months of COBRA coverage. The employment agreement also restricts Mr. Turner from engaging in certain acts of competition with the Company and from soliciting the Company’s employees or inducing them to leave their employment with the Company during the term of the employment agreement and for a period of two years after the termination of his employment. He has also agreed to customary confidentiality and non-disparagement obligations.

In connection with his appointment, the Compensation and Stock Option Committee (the “Committee”) approved a grant to Mr. Turner of (i) 6000 shares of service-based restricted stock (“Time-Based RSA”), which will vest in equal quarterly installments over a 3-year period, and (ii) 2500 shares of performance-based restricted stock (“Performance-Based RSA”), which will vest, if at all, based on the achievement of a trailing earnings per share performance target over a performance period beginning on June 1, 2025 and ending on March 31, 2027 (the “Performance Share Measurement Period”), following certification by the Committee of achievement and subject to Mr. Turner’s continued employment at the Company through the last day of the Performance Share Measurement Period or as otherwise provided under the terms of his award agreement or employment agreement.

There are no arrangements or understandings between Mr. Turner and any other person pursuant to which Mr. Turner was appointed to serve as acting Chief Operating Officer of the Company. There are no family relationships between Mr. Turner and any of the Company’s directors or executive officers.

Mr. Turner has no direct or indirect material interest in any existing or currently proposed transaction that would require disclosure under Item 404(a) of Regulation S-K.

The foregoing summary of Mr. Turner’s employment agreement, Time-Based RSA and Performance-Based RSA is qualified in its entirety by reference to the full texts of the employment agreement and form of Time-Based RSA and Performance-Based RSA agreement, which are included as Exhibits 10.1, 10.2 and 10.3, respectively, to this Current Report on Form 8-K and incorporated herein by reference.

Item 7.01 – Regulation FD Disclosure.

On February 17, 2026, the Company issued a press release, announcing Mr. Turner’s promotion. A copy of such press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference in this Item 7.01.

The information contained in this Item 7.01, including in Exhibit 99.1 attached hereto, is “furnished” and not “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section. Such information shall not be incorporated by reference in another filing under the Exchange Act or the Securities Act of 1933, as amended, except to the extent such other filing specifically incorporates such information by reference.

Item 9.01 Financial Statements and Exhibits.

(d)	Exhibits.
Exhibit Number	Description of Exhibit
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10.1	Employment Agreement Dated February 17, 2026, between the Company and J. Tobin Turner
10.2	Form of Restricted Stock Award Agreement (Service- Based) under the 2017 Stock Incentive Plan
10.3	Form of Restricted Stock Award Agreement (Performance- Based) under the 2017 Stock Incentive Plan
99.1	Press release issued February 17, 2026
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	WORLD ACCEPTANCE CORPORATION
	(Registrant)
February 17, 2026
	By:	/s/ John Calmes, Jr.
		John Calmes, Jr.
		Executive VP, Chief Financial & Strategy Officer,<br><br> <br>and Treasure

ex_921317.htm

Exhibit 10.1

Employment Agreement

By And Between

World Acceptance Corporation

And

J. Tobin Turner

Effective February 17, 2026

EMPLOYMENT AGREEMENT

This Agreement is effective as of February 17th, 2026, (the “Effective Date”) by and between World Acceptance Corporation (the “Company”), a South Carolina corporation, and J. Tobin Turner (the “Executive”), an individual residing at Greenville, South Carolina.

W I T N E S S E T H

WHEREAS, the Compensation and Stock Option Committee (the “Committee”) of the Board of Directors of the Company (the “Board”), acting on behalf of and pursuant to authority granted by the Board, has determined that it would be in the best interests of the Company and its shareholders to secure the services of the Executive for the Period of Employment (as defined in Section 3.1 below) and upon the terms provided in this Agreement; and

WHEREAS, the Executive is currently employed by the Company, and will be employed by the Company, on a full-time basis, as Executive Vice President and Chief Operating Officer for said Period of Employment and upon such other terms and conditions as provided in this Agreement; and

WHEREAS, the Company and the Executive desire to enter this Employment Agreement effective as of February 17, 2026 (the “Agreement”); and

NOW THEREFORE, in consideration of the mutual covenants and promises contained in this Agreement, the parties hereby agree as follows:

SECTION I

EMPLOYMENT

The Company agrees to employ the Executive and the Executive agrees to be employed by the Company for the Period of Employment, subject to the other terms and conditions provided in the Agreement.

SECTION II

POSITION AND RESPONSIBILITIES

The Executive agrees to serve as the Company’s Executive Vice President and Chief Operating Officer reporting directly to the Chief Executive Officer of the Company and to be responsible for the duties and responsibilities commonly attributed to such positions and as assigned to the Executive from time to time by the Board or the Chief Executive Officer of the Company. The Executive also agrees to serve, or to continue to serve, during the Period of Employment as an officer and director of any subsidiary, affiliate, or parent corporation (the “Affiliates”) of the Company which the Board feels is appropriate.

SECTION III

TERMS AND DUTIES

3.1. ****	Period of Employment

The initial term (the “Initial Term”) of the Executive’s employment shall be for a period of three (3) years commencing on February 17, 2026 and continuing until February 16, 2029 (the “Initial Expiration Date”), subject to extension or termination as provided in this Agreement. Unless this Agreement has been terminated in accordance with its provisions, the term of this Agreement will be extended automatically for successive one-year terms commencing on the Initial Expiration Date unless either party elects to terminate this Agreement by providing written notice to the other party at least ninety (90) days prior to the expiration of the Initial Term or any renewal term. As used herein, the term “Period of Employment” means the Initial Term plus any renewal terms. The Period of Employment shall end upon the effective date of the termination of the Executive’s employment as provided in Sections VI, VII, VIII and/or XI (the “Date of Termination”). Notwithstanding anything in this Agreement to the contrary, non-renewal by the Company shall be subject to the provisions set forth in Section 8.1, and non-renewal by the Executive shall be subject to the provisions of Section 8.3.

3.2. ****	Duties

The Executive shall serve under the direction of the Board and shall exercise all duties commonly performed by an executive of a publicly traded company with the same or a comparable position. The Executive shall comply with all applicable laws and regulations, as well as all applicable Company policies and procedures, including the Code of Business Conduct and Ethics, and shall faithfully serve the best interests of the Company during the Period of Employment. During the Period of Employment and except for illness, incapacity, reasonable vacation and holiday periods, and as provided below, the Executive shall devote all of the Executive’s full business time, attention and skill exclusively to the business and affairs of the Company and its Affiliates. The Chief Executive Officer shall review the performance of the Executive on at least an annual basis. The Executive will not engage in any other business activity, and will perform faithfully the duties which may be assigned to the Executive from time to time by the Board or the Chief Executive Officer of the Company that are consistent with the provisions of this Agreement. Notwithstanding the above, nothing in this Agreement shall preclude the Executive from devoting time during reasonable periods required for:

3.2.1. Serving as a director or member of a committee of any charitable or non-profit organization, or with prior approval of the Board, any other for-profit organization, in each case involving no actual or potential conflict of interest with the Company;

3.2.2. Delivering lectures and fulfilling speaking engagements;

3.2.3. Engaging in charitable and community activities; or

3.2.4. Investing the Executive’s personal assets in investments or business entities in such form or manner that will not violate this Agreement or require services on the part of the Executive in the operation or affairs of the business entities in which those investments are made.

The above activities will be allowed as long as they do not materially affect or interfere with the performance of the Executive’s duties and obligations to the Company.

SECTION IV

COMPENSATION, BENEFITS, AND PERQUISITES

For all services rendered by the Executive in any capacity during the Period of Employment, including services as an executive, officer, director or committee member, the Executive shall be compensated as follows:

4.1. ****	Base Salary

The Company shall pay the Executive a fixed base salary (“Base Salary”) at such annual rate as the Committee deems appropriate; provided, however, that the Base Salary as of the date of this Agreement shall be $450,000 per year. Base Salary shall not be reduced below the Minimum Base Salary without the Executive’s consent. “Minimum Base Salary” shall mean $250,000. Base Salary shall be payable according to the customary payroll practices of the Company, but in no event shall Base Salary be payable less frequently than once per calendar month. For 2026, the Executive’s Base Salary shall include an additional $200,000 which is being paid to the Executive to reflect the previous target bonus under the EIP (the “Cash Subject to Clawback”), for a total salary for 2026 of $450,000 (“Total Salary”). The Executive agrees that the Cash Subject to Clawback (i) shall be subject to any applicable forfeiture, clawback, recoupment or repayment policies, and/or other policies that may be implemented by the Company or any Affiliate from time to time to the extent applicable to the Executive, and (ii) shall be subject to any clawback, forfeiture, recoupment or similar provisions that may apply under applicable laws, rules or regulations.

4.2. ****	Long-Term Incentive Awards

The Company may, in its sole discretion, provide the Executive with long-term incentive compensation opportunities. The Committee may establish appropriate criteria for granting such awards. Payments may, at the discretion of the Committee, take the form of cash, restricted stock awards, restricted stock units, stock options and/or other awards authorized by the World Acceptance Corporation 2017 Stock Incentive Plan, 2025 Stock Incentive Plan and/or successor plan(s) thereto (such plans being collectively referred to as the “Stock Plan”), in each case as may be amended from time to time; provided, however, that any grants of long-term incentive awards must be approved by the Committee and shall be subject to the terms and conditions of the applicable Stock Plan and any related award agreement in form acceptable to the Committee. Such awards shall be subject to such service, performance and/or other terms and conditions as may be established by the Committee and the Committee shall have sole discretion to determine if and the extent to which any such awards are earned and the forms of payment for such awards. The intent of such long-term incentive compensation is to motivate the achievement of the Company’s longer range and strategic goals.

4.3. ****	Benefits and Perquisites
4.3.1. ****	Salaried Employee Benefits
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The Executive will be entitled to participate in all compensation, health, welfare, perquisite and other employee benefit plans and programs for which similarly situated salaried employees of the Company are generally eligible under any plan or program now or later established by the Company, on the same terms and conditions as such plans and programs are provided to other similarly situated salaried employees. All Company coverage, benefits and plans are subject to the right of the Company to amend or terminate such coverage, benefits and plans from time to time, and subject to the specific eligibility and participation requirements of each such plan. Notwithstanding anything to the contrary in this Agreement or in any employee benefit plans or programs now or later established by the Company and for which the Executive is eligible, any reference to the Executive’s base salary shall mean $250,000, or such annual rate as the Committee deems appropriate in the future.

4.3.2. ****	Supplemental Benefits

The Company will provide long-term disability insurance that provides a benefit to the Executive of sixty percent (60%) of the Executive’s Base Salary in effect at the time of Disability, subject to any applicable maximum benefit limitation imposed by the insurance underwriter. Such benefits (the “Disability Benefits”) will continue until the Executive dies or has reached the age of 65, provided the Executive suffers a qualifying disability (as described in the underlying long-term disability insurance policy) during the Period of Employment.

Each year during the Period of Employment, **** the **** Executive shall be eligible for paid time off (“PTO”) subject to Company policy for such paid time for similarly situated employees, which policy may be modified from time to time at the sole discretion of the Company.

4.3.3. ****	Automobile

The Company will provide an automobile for use by the Executive, subject to the terms and conditions of the Company’s vehicle policy which may be modified or terminated from time to time at the sole discretion of the Company. Expenses related to the operation of the vehicle, including maintenance, insurance and fuel, will be paid or reimbursed by the Company as provided in the Company’s vehicle policy as may be in effect from time to time.

SECTION V

BUSINESS EXPENSES

The Company will reimburse the Executive, according to Company policy and in accordance with Section XV, for all reasonable travel, entertainment, business and other expenses incurred by the Executive in connection with the performance of the Executive’s duties and obligations under this Agreement.

SECTION VI

DISABILITY

The Executive agrees that regular attendance, in-person management and leadership, the ability to travel and performance of duties commensurate with the Executive’s office are essential functions of the Executive’s position. Therefore, the Company may terminate the Executive’s employment if the Executive experiences a Disability during the Period of Employment. In the event of a termination of Employment due to Disability, the Date of Termination shall be the date set forth in a written notice to the Executive. In the event the Company terminates the employment of the Executive pursuant to this Section VI, the Company will continue to pay the Executive at a rate equal to $250,000 (“Disability Severance”) for a period of twenty-four (24) months following the date of such termination***,*** payable in accordance with the Company’s customary payroll practices; provided, however, the amount of the Disability Severance payments paid for any month shall be reduced by the amount of any Disability Benefits received by the Executive for such month. In addition to the continuation of Base Salary as provided in this Section, upon termination of the Executive’s employment because of Disability, the Executive will be entitled to receive (i) Accrued Compensation (as defined in Section 8.1.1); and (ii) vested amounts owed under the Company’s benefit plans. The Accrued Compensation shall be paid to the Executive thirty (30) days from the Date of Termination. Benefits under Company benefit plans shall be payable in accordance with the provisions of such plans.

“Disability,” as used herein, shall mean the existence of either (i) a physical or mental impairment that prevents the Executive, with or without reasonable accommodation, from performing for a period of 90 days during any twenty-four (24) month period (whether or not consecutive) any of the essential functions of the Executive’s position or (ii) any impairment that qualifies as a disability under the terms of any group long-term disability plan of which the Executive is a participant.

SECTION VII

DEATH

In the event of the death of the Executive during the Period of Employment, the Date of Termination shall be the date of the Executive’s death. The Company’s obligation to make payments under this Agreement shall cease as of the date of death, except for (i) Accrued Compensation (as defined in Section 8.1.1); and (ii) vested amounts owed under the Company’s benefit plans. The Accrued Compensation shall be paid thirty (30) days from the Date of Termination. The Executive’s designated beneficiary will be entitled to receive the proceeds of any life or other insurance or other death benefit programs provided in this Agreement, according to the terms and conditions of the applicable plans.

SECTION VIII

EFFECT OF OTHER TERMINATIONS OF EMPLOYMENT

Except as otherwise set forth in Sections VI, VII, X, XV and XVII:

8.1. If the Executive’s employment terminates due to: (a) a Without Cause Termination, (b) a Termination with Good Reason (as such terms are hereafter defined in this Agreement), or (c) in the event of the Executive’s death, the Company will pay the Executive’s beneficiary or beneficiaries:

8.1.1. in a lump sum in cash thirty (30) days after the Date of Termination, the sum of (a) the Executive’s accrued Base Salary then in effect and any accrued vacation pay through the Date of Termination and (b) the Executive’s business expenses that have not been reimbursed by the Company as of the Date of Termination that were incurred by the Executive prior to the Date of Termination in accordance with the applicable Company policy and Section XV herein (the “Accrued Compensation”); and

8.1.2. severance payments in an amount equal to $450,000, such amount to be paid over twenty-four (24) months in substantially equal installments following the Date of Termination in accordance with the Company’s normal payroll policies, but not less frequently than once per calendar month; and

8.1.3. subject to this Section 8.1.3, (a) any of the Executive’s unvested stock options and other unvested equity incentives or other unvested incentive awards (collectively, “Equity Awards”) that are subject solely to time-based vesting shall accelerate, fully vest and become exercisable as of the Date of Termination, and (b) all vested time-based stock options held by the Executive shall be exercisable for a period of one year from the Date of Termination, but not beyond the original expiration of their term; and

8.1.4. [Reserved]

8.1.5. (a) a pro-rata portion of any of the Executive’s unvested Equity Awards that (i) are subject solely to performance-based vesting, (and (ii) are scheduled to vest within one hundred eighty (180) days after the Date of Termination, and for which (iii) the Committee certifies that the applicable performance metrics have been achieved within such 180-day period, shall vest and become exercisable upon such certification. For the avoidance of doubt, (1) any unvested Equity Awards that are subject solely to performance-based vesting, and are scheduled to vest more than one hundred eighty (180) days after the Date of Termination, shall be forfeited, and (2) no portion of any Equity Awards that are subject to time-based vesting and granted under any Stock Plan will vest under this Section 8.1.5; and

8.1.6. a single lump sum cash payment equal to the total premiums the Executive would be required to pay for eighteen (18) months of COBRA continuation coverage under the Company’s health benefit plans determined using the COBRA premium rate in effect for the level of coverage that the Executive has in place immediately prior to the Date of Termination (the “COBRA Payment”). The Executive shall not be required to purchase COBRA continuation coverage in order to receive the COBRA Payment, nor shall the Executive be required to apply the COBRA Payment towards any payment of applicable premiums for COBRA continuation coverage. The payment shall be made on the thirtieth (30th) day following the Date of Termination.

8.2. If the Executive’s employment terminates due to a Termination for Cause, as hereinafter defined, the Company will pay to the Executive the Accrued Compensation defined in Section 8.1.1 within the time period described therein. No other payments will be made and the Company will not be obligated to provide any other benefits to or on behalf of the Executive. If the Company terminates the Executive for Cause and it is later determined by a court of competent jurisdiction that the Company did not have Cause, the Executive’s termination shall be construed as being Without Cause, and the Executive’s remedies shall be limited to the payments and benefits set forth in Section 8.1 herein.

8.3. If the Executive quits, abandons employment or otherwise resigns from employment with the Company without Good Reason or gives notice of non-renewal in accordance with Section 3.1 hereof, the Company will pay the Accrued Compensation defined in Section 8.l.1 within the time period described therein. No other payments will be made and the Company will not be obligated to provide any other benefits to or on behalf of the Executive, except any benefits payable under plans or programs to the extent then vested and in accordance with the terms of such other plans or programs.

8.4. Except as otherwise expressly provided in this Agreement and except for any long-term incentive payments to which the Executive is entitled under the Company’s long-term incentive plans, or obligations of the Company under any Stock Plan or related award agreement, upon termination of the Executive’s employment hereunder, the Company’s obligation to make any payments or provide any compensation benefits under this Agreement will cease.

It is expressly acknowledged by the Company that the amounts and benefits afforded to the Executive pursuant to Sections VI and VIII shall not be treated as damages but as severance compensation and benefits to which the Executive is entitled by reason of termination of the Executive’s employment for the reasons set forth above. Accordingly, the Executive shall not be required to mitigate the amount of any payment or benefits provided for in such Sections by seeking employment or otherwise, nor (other than as provided in Section 10.1 or Section 10.10) shall the Company be entitled to set off against the amounts and benefits payable to the Executive hereunder any amounts or benefits earned by the Executive in other employment after the Date of Termination or any amounts or benefits that might have been earned by the Executive in other employment had he sought such other employment.

SECTION IX

DEFINITIONS

For this Agreement, the following terms have the following meanings:

9.1. ****“Termination for Cause” means termination of the Executive’s employment by the Company due to (i) the Executive’s failure to substantially perform the Executive’s duties hereunder (other than as a result of death or Disability or absence due to temporary illness or incapacity protected by law); (ii) the Executive’s dishonesty in the performance of the Executive’s duties (other than de minimis acts or omissions); (iii) the Executive’s indictment, conviction or entering of a plea of any type (including, but not limited to, a plea of nolo contendere) for a crime constituting a felony or a misdemeanor involving moral turpitude; (iv) the Executive’s willful malfeasance or willful misconduct in connection with the performance of the Executive’s duties hereunder (other than de minimis acts or omissions); (v) any illicit or unauthorized act or omission which is materially injurious to the financial condition or business reputation of the Company; (vi) the Executive’s breach of any of the Executive’s duties and obligations set forth in Section X; (vii) conduct by the Executive which violates the Company’s then existing internal policies or procedures, including, but not limited to, the Company’s Code of Business Conduct and Ethics; (viii) the Executive’s knowing and intentional failure to comply with applicable laws; (ix) the Executive’s falsification of Company records or engaging in theft, fraud, embezzlement or other conduct which is detrimental to the business, reputation, character or standing of the Company or any of its Affiliates; (x) the Executive’s failure to comply with reasonable written directives of the Board; (xi) the Executive’s failure to reasonably cooperate with any investigation authorized by the Board; or (xii) the Executive’s engaging in any conduct that is or could be materially damaging to the Company or any of its Affiliates; provided, however, that termination of the Executive’s employment by the Company pursuant to clauses (i), (vi), (vii) or (x) will not constitute a “Termination for Cause” unless the Executive has received written notice from the Company stating the nature of such breach and affording the Executive an opportunity to correct fully the act(s) or omission(s), if such breach is capable of correction, described in such notice within ten (10) days following the Executive’s receipt of such notice. Notwithstanding the foregoing, (a) no conduct shall be considered “willful” or “intentional” if the Executive acted in good faith and in a manner he reasonably believed to be in the best interests of the Company and had no reasonable cause to believe that the Executive’s conduct was in violation of the relevant policy, directive, regulation or law; and (b) any act or failure to act that is based upon a directive of the Board, or the advice of counsel for the Company, shall be conclusively presumed to be done, or omitted to be done, by the Executive in good faith and in the best interests of the Company.

9.2. “Good Reason” means any of the following conditions (each a “Condition”) that arises without the consent of the Executive and the Condition has not been cured as set out below: (i) a reduction in the Executive’s Base Salary below the Minimum Base Salary; (ii) a material diminution in the Executive’s authority, duties or responsibilities; (iii) a material diminution in the budget over which the Executive retains authority; (iv) requiring the Executive to relocate the Executive’s principal place of employment more than thirty-five (35) miles from the Company’s present headquarters; (v) a material breach of this Agreement by the Company; or (vi) the failure of the Company to renew this Agreement as set forth in Section 3.1. Within forty-five (45) days of the Executive’s knowledge of the initial existence of the Condition (or the date on which the Executive reasonably would be expected to have knowledge of the initial existence of the Condition), the Executive must provide written notice to the Company of the existence of the Condition, and the Company shall have forty-five (45) days following receipt of such notice to cure the Condition. Subject to the foregoing, if the Condition is cured within forty-five (45) days of such notice, the Executive is not entitled to any payment as the result of a termination of employment based on that occurrence of the circumstances that would otherwise constitute Good Reason. If the Condition is not cured within forty-five (45) days following such notice, the Executive may resign from employment for Good Reason, provided such resignation occurs not later than six (6) months from the initial existence of the Condition.

9.3. ****“Termination with Good Reason” means the Executive’s resignation of employment for Good Reason. Subject to Section 9.2, the Date of Termination for a Termination with Good Reason shall be the effective date of the Executive’s resignation for Good Reason as set forth in a written notice to the Company.

9.4. ****“Without Cause Termination” means termination of the Executive’s employment by the Company other than due to death or Disability and other than Termination for Cause and includes, without limitation, termination of the Executive’s employment by the Company’s giving notice of non-renewal in accordance with Section 3.1 hereof. The Date of Termination for a Without Cause Termination shall be the effective date of termination of employment as set forth in a written notice to the Executive.

SECTION X

OTHER DUTIES AND OBLIGATIONS OF THE EXECUTIVE DURING AND

AFTER THE PERIOD OF EMPLOYMENT

10.1. During the Period of Employment, the Executive will comply with all Company policies (including, but not limited to, the Company’s Code of Business Conduct and Ethics) and with all applicable laws. In addition, without limiting the effect of the foregoing, the Executive agrees that he shall abide by any forfeiture/compensation recovery policy, equity retention policy, stock ownership guidelines, compensation plan and/or award agreement provisions and/or other policies that may be adopted by the Company or its Affiliates, each as in effect from time to time and to the extent applicable to the Executive. Further, the Executive agrees that he shall be subject to any such compensation recovery, recoupment, forfeiture or other similar provisions as may apply to the Executive under applicable laws. The Executive further agrees that all compensation recovery, forfeiture, clawback and other related provisions in this Agreement or in any policy, plan, program, award or award notice of the Company which applies to the Executive shall continue in full force and effect after the Date of Termination, including to the extent necessary to comply with applicable law as such may be adopted or modified after the Date of Termination. The Executive further agrees that any rights or remedies available to the Company under this Agreement shall be in addition to its rights under any applicable forfeiture, clawback, recoupment or repayment policies, and/or other policies that may be implemented by the Company or any Affiliate from time to time to the extent applicable to the Executive, or similar provisions that may apply under applicable laws, rules or regulations.

10.2. During the Restricted Period, the Executive will not make disparaging remarks to anyone about the Company or its Affiliates or their employees or agents or any statement that disrupts or impairs the Company’s normal, ongoing business operations or that harms the Company’s or its Affiliates’ reputation with their employees, customers, suppliers or the public. The non-disparagement provisions set forth herein are in no way intended to limit the Executive’s ability to comply with legal requirements, including without limitation: (a) any applicable laws or regulations; (b) the ability to make truthful written or oral statements to government officials who are investigating matters within the scope of their governmental agency responsibilities; (c) any formal accounting or auditing procedures and (d) the provision of truthful testimony in judicial or administrative proceedings.

10.3. During the Restricted Period, the Executive will not become employed by or provide services to (as an officer, agent, manager, director, employee, consultant, or independent contractor), invest in, or provide financing to a Competitor other than a Large Bank (as defined below) anywhere in the Territory unless (i) the services provided are not management- or executive-level services or (ii) the services are provided solely in a division, area or segment of the Competitor’s business that does not compete in any way with the Company or relate to the business, services or products described in Section 10.3(a) – (d) below. A “Competitor” shall mean any business, person or company engaged in any of the following: (a) small-loan consumer finance; (b) providing Ancillary Products to borrowers; (c) providing income tax form preparation services to individuals; or (d) the sale of products or services that are competitive with any products or services that have been offered by the Company during the Period of Employment. As used herein, “small-loan consumer finance” shall mean making fixed rate, fully amortized closed-end extensions of direct consumer credit of $4,000 or less. “Territory” shall mean any of the following states: South Carolina, Georgia, Texas, Oklahoma, Louisiana, Tennessee, Missouri, Illinois, New Mexico, Kentucky, Alabama, Wisconsin, Indiana, Mississippi, Utah, Idaho or any state in which the Company or its Affiliates has made loans, provided services or sold or licensed products during the Period of Employment. “Ancillary Products” shall mean any of the following: credit life insurance; credit accident and health insurance; credit property insurance; unemployment insurance; auto club memberships or buying club memberships. “Large Bank” shall mean any bank or savings association with deposits in excess of $5 billion, and any companies affiliated with such Large Bank. Notwithstanding the foregoing, the Executive’s ownership of less than five percent (5%) of the outstanding voting or debt securities of any corporation or other entity shall not constitute a violation of the provisions of this Agreement if such securities are listed on a national or regional securities exchange or have been registered under the Securities Exchange Act of 1934, as amended.

10.4. During the Restricted Period, the Executive, without express written approval from the Board, will not solicit, hire or attempt to hire any individual who is then employed with the Company or is a consultant or independent contractor providing services to the Company or induce or attempt to induce such individual to leave the Company’s employment or no longer provide services to the Company.

10.5. For so long as the Company may require following the Date of Termination, the Executive will cooperate with and provide assistance to the Company and its legal counsel in connection with any litigation (including arbitration or administrative hearings) or investigation affecting the Company, in which, in the reasonable judgment of the Company’s counsel, the Executive’s assistance or cooperation is needed or desirable. The Executive shall, when requested by the Company, provide testimony or other assistance and shall travel at the Company’s request in order to fulfill this obligation; provided, however, that, in connection with such litigation or investigation, the Company shall reasonably accommodate the Executive’s schedule, shall provide the Executive with reasonable notice in advance of the times in which the Executive’s cooperation or assistance is requested, and shall reimburse the Executive (in accordance with Section XV) for any reasonable expenses incurred in connection with such matters unless prohibited by law or ethical rule. Unless the Company has paid the Executive severance benefits pursuant to this Agreement, the Company shall compensate the Executive for the Executive’s time at customary and prevailing rates, unless prohibited by law or ethical rule.

10.6. The Executive agrees to maintain the confidentiality of Confidential Information at all times during and after the Executive’s employment with the Company and will not, at any time (a) use any Confidential Information for the Executive’s own benefit or for the benefit of any other person, firm or entity; (b) reveal, publish or disclose any Confidential Information to any person other than authorized representatives of the Company; or (c) remove or aid in the removal from the Company’s premises, retain, transmit, download or save any copy or copies of Confidential Information in either written, digital, electronic, voice or other electronic media data form, except (i) in the performance of the Executive’s authorized duties in the furtherance of the business of the Company, (ii) with the prior written consent of an authorized officer of the Company, or (iii) as necessary to comply with law. “Confidential Information” means any nonpublic information used in the Company’s business and from which the Company derives commercial value from not being generally known to the public or industry, including without limitation, information marked or designated as confidential, privileged or secret; financial information (including budgets, forecasting, projections, costs, margins and pricing); employee information (including payroll and benefits information and personnel records); marketing plans, proposals and data; customer information; regulated or private information concerning employees, customers or consumers, including, without limitation, financial, account, tax or health information; trade secrets; inventions; intellectual property; attorney-client privileged information and work product; patents; copyrights and trademarks; computerized information or data (including programs, networks, databases, information technology architecture and infrastructure, hardware and software) (all or any portion of which, and the materials on which they are used, whether or not specifically labeled or identified as “confidential”); and information received from third parties subject to a duty on the Company’s or its Affiliates’ part to maintain the confidentiality of such information and to use it only for certain limited purposes. The Executive’s obligations under this Section 10.5 shall survive the termination of the Executive’s employment for any reason for a period of two (2) years following the Date of Termination with respect to Confidential Information that does not rise to the level of a trade secret under applicable law, and, with respect to Confidential Information that constitutes a trade secret under applicable law, the Executive’s obligations shall continue for so long as the information constitutes a trade secret under applicable law. Information of the Company that constitutes attorney-client privileged information or information protected by the work product doctrine may not be disclosed at any time without the Company’s prior written consent.

10.7. Nothing herein shall prevent the Executive from cooperating with any investigation or inquiry conducted by the Equal Employment Opportunity Commission regarding any employment practice or policy of the Employers. In addition, pursuant to Section 7 of the Defend Trade Secrets Act of 2016 (which added 18 U.S.C. § 1833(b)), the Executive acknowledges that he shall not have criminal or civil liability under any federal or state trade secret law for, and nothing herein prohibits, the disclosure of a trade secret or Confidential Information that (a) is made (i) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (b) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. Nothing in this Agreement is intended to conflict with 18 U.S.C. § 1833(b) or create liability for disclosures of trade secrets that are expressly allowed by such Section. Further, notwithstanding anything in this Agreement to the contrary, (i) nothing in this Agreement, including but not limited to any release, or other agreement prohibits the Executive from reporting possible violations of law or regulation to any governmental agency or entity, including but not limited to the Department of Justice, the Securities and Exchange Commission, the Congress and any agency Inspector General (the “Government Agencies”), or communicating with Government Agencies or otherwise participating in any investigation or proceedings that may be conducted by Government Agencies, including providing documents or other information; (ii) the Executive does not need the prior authorization of the Company to take any action described in (i), and the Executive is not required to notify the Company that he has taken any action described in (i); and (iii) neither this Agreement nor any release limits the Executive’s right to receive an award for providing information relating to a possible securities law violation to the Securities and Exchange Commission.

10.8. ****“Restricted Period” as used herein shall begin on date the Executive is employed with the Company and shall end on the second (2^nd^) anniversary of the Date of Termination.

10.9. If the Company in good faith believes that the Executive has breached the Executive’s obligations described in Section X, the Company may withhold future payments due to the Executive under this Agreement until a court of competent jurisdiction has determined whether the Executive has breached such obligations. If a court of competent jurisdiction, in a final, non-appealable judgment, determines that the Executive has not breached such provisions, the Company shall within ten (10) business days of such determination pay to the Executive the amount of such withheld payments (less any damage award in favor of the Company, if applicable) plus interest accruing from the time each payment was due to the Executive at the legal pre-judgment interest rate. If following the Date of Termination the Company fails without good faith, reasonable justification to make a payment or provide a benefit to the Executive when due, the Company shall have ten (10) days after receiving written notice from the Executive to cure such failure. If the Company does not cure such failure within such 10-day period, the Executive shall no longer be bound by the obligations described in this Section X.

10.10. Notwithstanding anything in this Agreement to the contrary, and without limiting the effect of the provisions of Section 10.1 or of Section 10.9 herein, if, at any time during or after the Period of Employment (regardless of whether the Executive’s employment is terminated by the Company or by the Executive and whether the Executive’s employment is terminated due to a Termination for Cause, a Termination with Good Reason or a Without Cause Termination), (i) the Executive files any claim, suit or legal proceeding which has been released by the Executive pursuant to Section XVII, or (ii) the Company determines that the Executive has breached or otherwise failed to comply with the covenants contained in Sections 10.2, 10.3, 10.4, 10.5 and/or 10.6 of this Agreement and, if such breach or failure is capable of being remedied, the Executive has not remedied such breach or failure to the satisfaction of the Company within ten (10) days of receipt of written notice from the Company of its determination that the Executive has breached or otherwise failed to comply with any of such Sections, or (iii) the Executive materially violates any of the Company’s policies, as determined by the Committee in its discretion, or (iv) the Executive violates any federal, state or other law, rule or regulation which is detrimental to the business, reputation, character or standing of the Company and/or any of its Affiliates, as determined by the Committee in its discretion, or (v) the Executive is indicted or convicted of, or enters a plea of any type (including, but not limited to, a plea of nolo contendere) for, a crime constituting a felony or a misdemeanor involving moral turpitude, which involves or relates in any way to the Executive’s actions or omissions during the Period of Employment and/or to events affecting the Company (and/or any of its Affiliates) that occur during the Period of Employment, or (vi) the Executive falsifies Company records or engages in theft, fraud, embezzlement or other criminal conduct detrimental to the business, reputation, character or standing of the Company and/or any of its Affiliates, as determined by the Committee in its discretion, or (vii) the Executive commits any illicit or unauthorized act or omission which is detrimental to the business, reputation, character or standing of the Company and/or any of its Affiliates, as determined by the Committee in its discretion, then, unless the Committee determines otherwise, and in addition to any other remedy available to the Company (on a non-exclusive basis): (a) any Equity Awards shall immediately be terminated and forfeited in their entirety; (b) any shares of stock subject to the Equity Awards (whether vested or unvested) shall immediately be forfeited and returned to the Company (without the payment by the Company of any consideration for such shares); (c) all payments and benefits to the Executive otherwise due pursuant to Section VIII and/or Section XI of this Agreement shall immediately terminate; and (d) no later than ten (10) days after receipt of a written request for repayment from the Company, the Executive shall repay to the Company all payments made and to return or reimburse the Company for all awards or shares issued and benefits provided to the Executive pursuant to Section VIII and/or Section XI of this Agreement. To the extent permitted by law, the payments otherwise payable pursuant to Section VIII and/or Section XI of the Agreement may be reduced to enforce any repayment obligation of Executive to the Company. For the avoidance of doubt, in each and every instance the Committee shall have the sole and absolute discretion to determine if any of the activities described in clauses (i) through (vii) of this Section 10.10 has occurred.

10.11. The parties desire that the provisions of Section X be enforced to the fullest extent permissible under the laws and public policies applied in the jurisdictions in which enforcement is sought, and agree that the Company may specifically enforce the terms hereof by obtaining injunctive relief without the necessity of posting bond or damages as permitted by law. If any portion of Section X is found to be invalid or unenforceable, the invalid or unenforceable terms shall be redefined or a new enforceable term provided, such that the intent of the Company and the Executive in agreeing to the provisions hereof will not be impaired and the provision in question shall be enforceable to the fullest extent of the applicable laws.

SECTION XI

EFFECTS OF CHANGE IN CONTROL

11.1. In the event there is a Change in Control of the Company, and the Executive’s employment is terminated within two (2) years following such Change in Control due to a Without Cause Termination or Termination with Good Reason, the Company will pay the Executive:

11.1.1. a lump sum payment equal to the sum of: (a) Accrued Compensation; (b) the COBRA Payment; and (c) an amount equal to $450,000. Such amount will be paid thirty (30) days after the Date of Termination; and

11.1.2. any unvested stock options, unvested restricted stock awards, unvested restricted stock units and other unvested equity incentives or other unvested incentive awards shall fully vest and become exercisable solely if permitted by and according to the terms of the applicable Stock Plan and award agreements; provided, however, that all vested stock options held by the Executive shall be exercisable for a period of one year, but not beyond the original expiration of their term.

It is understood that, in the event that the Executive is entitled to severance payments under this Section 11.1, then such severance payments shall be in lieu of any severance payments to which the Executive would be entitled under Section VIII hereof.

11.2. It is the intention of the parties hereto that the severance payments and other compensation provided for herein are reasonable compensation for the Executive’s services to the Company and shall not constitute “excess parachute payments” within the meaning of Section 280G of the Internal Revenue Code as of 1986, as amended, and any regulations thereunder. Notwithstanding anything in this Agreement to the contrary, in the event it shall be determined that any payment or distribution of any type to the Executive is or will be subject to the excise tax imposed by Section 4999 of the Internal Revenue Code or any interest or penalties with respect to such excise tax, such payments shall be reduced (but not below zero) to the extent that such reduction would result in the Executive retaining the maximum amount permitted without incurring such excise tax. The Company shall reduce or eliminate the payments, by first reducing or eliminating the portion of the payments which are not payable in cash and then by reducing or eliminating cash payments, in each case in reverse order beginning with payments or benefits which are to be paid the farthest in time from the determination. All determinations concerning the application of this Section shall be made by a nationally recognized firm of independent accountants or any nationally recognized financial planning and benefits consulting company, selected by the Company and reasonably satisfactory to the Executive, whose determination shall be conclusive and binding on all parties. The fees and expenses of such accountants or consultants shall be borne by the Company.

11.3. “Change in Control” shall have the meaning given the term in the Stock Plan. ****

The Board shall have full and final authority, in its discretion (subject to any considerations under Section 409A of the Internal Revenue Code), to determine whether a Change in Control has occurred, the date of the occurrence of such Change in Control and any incidental matters relating thereto.

SECTION XII

WITHHOLDING TAXES; TAX MATTERS

The Company may directly or indirectly withhold from any payments under this Agreement amounts authorized by the Executive and all federal, state, local or other taxes that are required to be withheld pursuant to any law or governmental regulation. The Executive acknowledges that the Company has made no representation or warranty regarding the tax consequences associated with the benefits described in the Agreement, that the Executive agrees to pay any federal, state, local or other taxes for which he may be personally liable as a result of the benefits conferred under the Agreement, and that the Company has no obligation to achieve any certain tax results for the Executive.

SECTION XIII

EFFECT OF PRIOR AGREEMENTS

This Agreement contains the entire understanding between the Company and the Executive with respect to the subject matter hereof and supersedes any prior agreement, statements or understanding related to the subject matter hereof, including, but not limited to, any employment or similar agreement between the Company and the Executive.

SECTION XIV

MODIFICATION; ASSIGNMENT

This Agreement may not be modified or amended except in writing signed by both parties. No term or condition of this Agreement will be deemed to have been waived except in writing by the party charged with waiver. A waiver shall operate only as to the specific term or condition waived and will not constitute a waiver for the future or act on anything other than that which is specifically waived. Neither the Agreement nor any right or interest under the Agreement shall be assignable by the Executive, the Executive’s beneficiaries or the Executive’s legal representatives without the prior written consent of the Company; provided, however, that nothing in this Section XIV shall preclude (a) the Executive from designating a beneficiary to receive any benefits payable hereunder upon the Executive’s death or (b) the executors, administrators or other legal representatives of the Executive or the Executive’s estate from assigning any rights hereunder to the person or persons entitled thereto. The Company may assign the Agreement without the consent of the Executive or any other person.

SECTION XV

COMPLIANCE WITH SECTION 409A

Notwithstanding any other provisions of this Agreement, to the extent applicable, this Agreement is intended to comply with Internal Revenue Code Section 409A and the regulations (or similar guidance) thereunder. To the extent any provision of this Agreement is contrary to or fails to address the requirements of Internal Revenue Code Section 409A, this Agreement shall be construed and administered as necessary to comply with such requirements. If the Executive is considered a “specified employee” (as defined in Internal Revenue Code Section 409A and related Treasury Regulations) at the time of any “separation from service” (as defined in Internal Revenue Code Section 409A and related Treasury Regulations) under Section 8.1 or Section 11.1 of this Agreement, a portion of the amount payable to the Executive under Section 8.1 or Section 11.1 shall be delayed for six (6) months following the Executive’s Date of Termination to the extent necessary to comply with the requirements of Internal Revenue Code Section 409A or an exemption therefrom. Any amounts payable to the Executive during such six (6) month period that are delayed due to the limitation in the preceding sentence shall be paid to the Executive in a lump sum during the seventh (7th) month following the Executive’s Date of Termination (or, if earlier, upon the Executive’s death). If, under this Agreement, an amount is to be paid in two or more installments, for purposes of Internal Revenue Code Section 409A, each installment shall be treated as a separate payment. To the extent not otherwise specified in the Agreement, all reimbursements and in-kind benefits provided under this Agreement shall be made or provided in accordance with the requirements of Section 409A of the Internal Revenue Code, including, where applicable, the requirement that (a) any reimbursement is for expenses incurred during the Executive’s lifetime (or during a short period specified in this Agreement); (b) the amount of expenses eligible for reimbursement, or in kind benefits to be provided, during a calendar year may not affect the expenses eligible for reimbursement, or in kind benefits to be provided, in any other calendar year; (c) the reimbursement of an eligible expense shall be made no later than the last day of the calendar year following the year in which the expense is incurred; and (d) the right to reimbursement or in kind benefits is not subject to liquidation or exchange for another benefit. In the event that this Agreement or payments hereunder shall be deemed not to be exempt from or to comply with Section 409A of the Internal Revenue Code, the neither the Company, the Board, the Committee nor its or their designees or agents shall be liable to the Executive or any other persons for actions, decisions or determinations made in good faith.

SECTION XVI

GOVERNING LAW

This Agreement has been executed and delivered in the State of South Carolina and its validity, interpretation, performance and enforcement shall be governed by the laws of the State of South Carolina. The parties hereto hereby agree that the exclusive and convenient forum and venue for any disputes between any of the parties hereto arising out of this Agreement shall be any proper state or federal court in Greenville, South Carolina, and each of the parties hereto hereby submits to the personal jurisdiction of any such court. The foregoing shall not limit the rights of any party to obtain execution of judgment in any other jurisdiction.

SECTION XVII

WAIVER AND RELEASE

In consideration for the payments and benefits provided hereunder, the Executive agrees that Executive will, upon termination of employment and in no event later than sixty (60) days after the Date of Termination, as a condition to the Company’s obligation to pay any severance benefits under this Agreement (including, but not limited to, those benefits set forth Sections 8.l.1, 8.1.2, 8.1.3, 8.1.5, 8.1.6 and 8.1.7), deliver to the Company a fully executed release, in form acceptable to the Company, that fully and irrevocably releases and discharges the Company, its Affiliates and each of their directors, officers, agents and employees from any and all claims, charges, complaints, liabilities of any kind, known or unknown, owed to the Executive, except for obligations arising under the provisions of this Agreement, to vested benefits under the Company’s benefit plans, obligations arising under stock option, restricted stock or other equity compensation agreements, or such claims that may not be released by law.

SECTION XVIII

MISCELLANEOUS

The parties agree that there shall be no presumption that any ambiguity in this Agreement is to be construed against the drafter. No provision of this Agreement will be interpreted in favor of, or against, any of the parties hereto by reason of the extent to which any such party or the Executive’s or its counsel participated in the drafting thereof or by reason of the extent to which any such provision is inconsistent with any prior draft hereof or thereof. The Executive acknowledges and confirms that he has reviewed this Agreement in its entirety, has had an opportunity to obtain the advice of counsel, and fully understands all provisions of this Agreement.

[Signature Page To Follow]

IN WITNESS WHEREOF, the Company has caused this Agreement to be executed as of the 17^th^ day of February, 2026, by its duly authorized officer and the Executive has hereunto set the Executive’s hand.

COMPANY:
WORLD ACCEPTANCE CORPORATION
By:
R. Chad Prashad
Title: President and CEO
EXECUTIVE:
J. Tobin Turner

ex_921318.htm

Exhibit 10.2

WORLD ACCEPTANCE CORPORATION

RESTRICTED STOCK AWARD AGREEMENT

(SERVICE-BASED)

World Acceptance Corporation, a South Carolina corporation (the “Company”), pursuant to its 2017 Stock Incentive Plan, as it may be amended from time to time (the “Plan”), hereby grants to the participant listed below (“Participant”), an award (the “Award”) for the number of shares of Restricted Stock set forth below. **** The terms and conditions of the Award are set forth below.

PARTICIPANT:	J. Tobin Turner
GRANT DATE:	2/17/2026
TOTAL NUMBER OF SHARES OF RESTRICTED STOCK:	6000
VESTING SCHEDULE:	Executives and Non-Employee Directors – All of the shares of Stock shall vest as set forth on Schedule A; provided that the Participant remains in the continuous employ or service of the Company or any Related Entity from the Grant Date until the vesting date, except as otherwise provided herein.

THIS RESTRICTED STOCK AWARD AGREEMENT (the “Agreement”), effective as of the Grant Date above, represents the grant of Restricted Stock by the Company to the Participant named above, pursuant to the provisions of the Plan and this Agreement. All capitalized terms shall have the meanings ascribed to them in the Plan, unless specifically set forth otherwise herein. The parties hereto agree as follows:

1.	Grant of Award. The Company hereby grants to the Participant an Award of 6000 shares of the Company’s Stock subject to the restrictions placed thereon pursuant to the terms and conditions of this Agreement (the “Restricted Shares”) and those set forth in the Plan.
2.	Terms of Award.
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a.	Escrow of Shares. A certificate representing the Restricted Shares shall be issued in the name of the Participant (or, in the case of uncertificated shares, other written evidence of ownership in accordance with applicable law shall be provided) as soon as practicable after the Grant Date and shall be escrowed with the Human Resources Department or Chief Financial Officer of the Company (the “Escrow Agent”) subject to (i) vesting and removal of the restrictions placed thereon or (ii) forfeiture pursuant to the terms of this Agreement.
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2017 Stock Incentive Plan

Restricted Stock Award Agreement (Service-Based)

b.	Vesting. Except as provided in Sections 2(c) and 2(d) below, the Participant shall vest the Restricted Shares as set forth on Schedule A; provided that the Participant is employed by or in service to the Company or a Related Entity, as applicable, from the Grant Date until the vesting date (“Vesting Date”). Notwithstanding the foregoing, if the Participant’s employment or service is terminated by reason of the Participant’s death, then the Award shall vest with respect to any and all of the Restricted Shares that have not previously vested, which rights shall inure to the Participant’s beneficiary (or if no beneficiary was designated or if no designated beneficiary survives the Participant, then the Participant’s estate). Once vested pursuant to the terms of this Agreement, the Restricted Shares shall be deemed “Vested Shares.”
c.	Change in Control. Notwithstanding any other provision of this Agreement or the Plan to the contrary (and unless otherwise required pursuant to Code Section 409A), the following provisions shall apply in the event of a Change in Control (as defined in the Plan):
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i.	To the extent that the successor surviving company in the Change in Control event does not assume or substitute the Award (or in which the Company is the ultimate parent corporation and does not continue the Award) on substantially similar terms or with substantially equivalent economic benefits (as determined by the Committee) as the Award outstanding immediately prior to the Change in Control event, any restrictions, including but not limited to the restriction period applicable to the Restricted Shares, shall be deemed to have been met, and the Restricted Shares shall become fully vested, earned and payable to the fullest extent of the original grant of the Award.
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ii.	Further, in the event the Award is substituted, assumed or continued as described in Section 2(c)(i), above, the Award shall nonetheless become vested in full and any restrictions, including but not limited to any restriction period applicable to any outstanding Restricted Shares, shall be deemed to have been met, and such Restricted Shares shall become fully vested, earned and payable to the fullest extent of the original award, if the employment or service of the Participant is terminated within one year (or such other period after a Change in Control as may be stated in the Participant’s change in control, consulting or other similar agreement in effect on the Plan Effective Date, if applicable) after the effective date of a Change in Control if such termination of employment or service (a) is by the Company not for Cause (as defined in the Plan) or (b) is by the Participant for Good Reason (as defined in the Plan). For clarification, for purposes of this Section 2(c), the “Company” shall include any successor to the Company.
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iii.	Notwithstanding the foregoing, in the event that the Participant is a party to an employment agreement with the Company that was entered into prior to the Plan Effective Date and a Change in Control occurs, the Participant shall be entitled to the greater of the benefits provided herein or under the terms of such employment agreement.
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2017 Stock Incentive Plan

Restricted Stock Award Agreement (Service-Based)

d.	Termination of Employment; Service. In the event of a termination of the Participant’s employment or service with the Company or any Related Entity, as applicable, for any reason other than the Participant’s death, all unvested Restricted Shares shall be immediately forfeited. Notwithstanding the foregoing, in the event that the Participant is a party to an employment agreement (to the extent applicable) with the Company and a termination of employment by the Company without Cause (as defined in the Plan) or by the Participant for Good Reason (as defined in the Plan) occurs, the Participant shall be entitled to the greater of the benefits provided herein or under the terms of such employment agreement.
e.	Rights as Shareholder; Dividends. The Participant shall have all the rights of a shareholder with respect to the Restricted Shares, subject to the restrictions herein, including the right to vote the Restricted Shares and to receive all dividends or other distributions paid or made with respect to the Restricted Shares. Any dividends declared and paid by the Company with respect to the Restricted Shares prior to the date that they become Vested Shares (the “Accrued Dividends”) shall be paid to the Participant only to the extent that the Restricted Shares upon which such dividends are paid become Vested Shares. Any Accrued Dividends with respect to the Restricted Shares shall be forfeited to the extent that the Restricted Shares are forfeited. The Participant authorizes the Company to hold as a general obligation of the Company any Accrued Dividends. Accrued Dividends with respect to the Restricted Shares shall be paid to the Participant within 30 days after the date on which such Restricted Shares become Vested Shares, without interest thereon, and any subsequent dividends or other distributions (in cash or other property, but excluding extraordinary dividends) that are declared and/or paid with respect to such Vested Shares shall be paid to the Participant on an annual basis if and when declared.
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f.	Transferability. None of the Restricted Shares or any rights or interests therein may be sold, transferred, pledged, assigned or otherwise alienated or hypothecated in any manner whatsoever, other than by will or by the laws of descent and distribution, until they have vested. The terms of the Plan and this Agreement are binding upon the executors, administrators, heirs, successors and assigns of the Participant.
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g.	Legends. Until they become vested, the Restricted Shares shall be subject to the following legend:
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“THE SHARES OF STOCK EVIDENCED BY THIS CERTIFICATE ARE SUBJECT TO AND ARE TRANSFERABLE ONLY IN ACCORDANCE WITH THAT CERTAIN AWARD AGREEMENT DATED FEBRUARY 17, 2026 PURSUANT TO THE WORLD ACCEPTANCE CORPORATION 2017 STOCK INCENTIVE PLAN. ANY ATTEMPTED TRANSFER OF THE SHARES OF STOCK EVIDENCED BY THIS CERTIFICATE IN VIOLATION OF SUCH AWARD AGREEMENT SHALL BE NULL AND VOID AND WITHOUT EFFECT. A COPY OF THE AWARD AGREEMENT MAY BE OBTAINED FROM THE HUMAN RESOURCES DEPARTMENT OR CHIEF FINANCIAL OFFICER OF WORLD ACCEPTANCE CORPORATION.”

2017 Stock Incentive Plan

Restricted Stock Award Agreement (Service-Based)

h.	Removal of Legend. After Restricted Shares become vested, and upon the Participant’s request, the Participant shall be entitled to receive a certificate (or such other evidence if the Stock is uncertificated) for such Vested Shares with the legend referred to in Section 2(g) removed and the Human Resources Department or Chief Financial Officer of the Company shall deliver to the Participant such certificate (or such other evidence if the Stock is uncertificated) representing such Vested Shares, free and clear of all restrictions, except for any applicable securities laws restrictions.
i.	Delivery of Forfeited Shares. The Participant authorizes the Human Resources Department or Chief Financial Officer to deliver to the Company any and all Restricted Shares that are forfeited under the provisions of this Agreement.
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3.	Tax Withholding. The Company shall have the power and the right to deduct or withhold, or require the Participant or beneficiary to remit to the Company, the employer’s statutory withholding based upon applicable statutory withholding rates for federal, state, and local taxes, domestic or foreign, including payroll taxes, that are applicable with respect to any taxable event arising as a result of this Agreement. The amount of any such withholding shall be determined by the Company. The Participant may satisfy any such tax withholding obligation by any or a combination of the following means: (a) tendering a cash payment; (b) authorizing the Company to withhold from the shares otherwise issuable to the Participant upon vesting of the Restricted Shares the number of shares having a Fair Market Value as nearly equal as possible to, but not exceeding (unless otherwise permitted by the Committee in a manner in accordance with applicable law and applicable accounting principles) the withholding tax obligation; or (c) delivering to the Company unencumbered shares of Stock owned by the Participant having a Fair Market Value as nearly equal as possible to, but not exceeding (unless otherwise permitted by the Committee in a manner in accordance with applicable law and applicable accounting principles), the amount of such obligations being satisfied; provided, however, that with respect to clauses (b) and (c) above, the Committee in its sole discretion may disapprove such payment and require that such taxes be paid in cash.
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4.	Adjustments. In the event of a change in capitalization described in Section 8.2(g) of the Plan, other than a dividend or other distribution described in Section 2(e) above, then unless such event or change results in the termination of all the Restricted Shares granted under this Agreement, the Committee shall adjust, in an equitable manner and as provided in the Plan, the number and class of shares underlying the Restricted Shares, the maximum number of shares for which the Award may vest, and the class of Stock as appropriate, in addition to taking any such other action as may be permitted under the Plan, to reflect the effect of such event or change in the Company’s capital structure in such a way as to preserve the value of the Award.
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2017 Stock Incentive Plan

Restricted Stock Award Agreement (Service-Based)

5.	Employment; Service. Nothing in the Plan or in this Agreement shall confer upon the Participant any right to continue in the employ of or service to the Company or any Related Entity, or interfere in any way with the right to terminate the Participant’s employment or service at any time for any reason or no reason.
6.	Forfeiture; Recoupment; Compliance with Ownership and Other Company Policies.
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a.	Notwithstanding any other provision of this Agreement, if, at any time during the employment or service of the Participant or at any time following termination of employment or service for any reason (regardless of whether such termination was by the Company or the Participant, and whether voluntary or involuntary), the Participant engages in a Prohibited Activity (as defined herein), then, unless the Committee determines otherwise, and in addition to any other remedy available to the Company (on a non-exclusive basis): (i) the Award shall immediately be terminated and forfeited in its entirety; (ii) any shares of Stock subject to the Award (whether vested or unvested) shall immediately be forfeited and returned to the Company (without the payment by the Company of any consideration for such shares), and the Participant shall cease to have any rights related thereto and shall cease to be recognized as the legal owner of such shares; and (iii) any Award-Equivalent Value (as defined in the Plan) shall be paid to the Company within 10 business days of the Company’s request to the Participant therefor. Further, to the extent that the Participant receives any amount in excess of the amount that the Participant should otherwise have received under the terms of this Agreement for any reason (including, without limitation, by reason of a financial restatement, mistake in calculations or other administrative error), the Participant shall be required to repay any such excess amount to the Company. The Participant agrees that the Award, any shares of Stock subject to the Award and any other benefits related to the Award (i) shall be subject to any applicable forfeiture, clawback, recoupment or repayment policies, equity retention policies, stock ownership guidelines and/or other policies that may be implemented by the Company or a Related Entity from time to time to the extent applicable to the Participant, and (ii) shall be subject to any clawback, forfeiture, recoupment or similar provisions that may apply under applicable laws, rules or regulations.
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b.	For purposes of this Agreement, a “Prohibited Activity” shall mean any of the following: (i) the Participant’s violation of any noncompetition, nonsolicitation or confidentiality restrictions or other restrictive covenants applicable to the Participant; (ii) the Participant’s material violation of any of the Company’s policies, as determined by the Committee in its discretion; (iii) the Participant’s violation of any federal, state or other law, rule or regulation which is detrimental to the business, reputation, character or standing of the Company and/or a Related Entity, as determined by the Committee in its discretion; (iv) the Participant’s disclosure or other misuse of any confidential information or material concerning the Company or a Related Entity (except as otherwise required by law or as agreed to by the parties herein); (v) the Participant’s falsification of Company records or engaging in theft, fraud, embezzlement or other criminal conduct which is detrimental to the business, reputation, character or standing of the Company and/or a Related Entity, as determined by the Committee in its discretion; (vi) the Participant’s indictment, conviction or entering of a plea of any type (including, but not limited to, a plea of nolo contendere) for a crime constituting a felony or a misdemeanor involving moral turpitude, which involves or relates in any way to the Participant’s actions or omissions during the employment or service of the Participant and/or to events affecting the Company (and/or a Related Entity) that occur during the employment or service of the Participant; (vii) any illicit or unauthorized act or omission which is detrimental to the business, reputation, character or standing of the Company and/or a Related Entity, as determined by the Committee in its discretion; or (viii) the Participant’s failure to reasonably cooperate with any litigation or investigation affecting the Company and/or a Related Entity. For the avoidance of doubt, in each and every instance the Committee shall have sole and absolute discretion to determine if a Prohibited Activity has occurred.
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2017 Stock Incentive Plan

Restricted Stock Award Agreement (Service-Based)

7.	Notices. Except as otherwise provided in the Plan or determined by the Committee, any written notice required or permitted under this Agreement shall be deemed given when delivered personally or electronically, as appropriate, either to the Participant or to the Human Resources Department or Chief Financial Officer of the Company, or when deposited in a United States Post Office as registered mail, postage prepaid, addressed as appropriate either to the Participant at the then current address as maintained by the Company or such other address as the Participant may advise the Company in writing, or to the Attention: Human Resources Department or Chief Financial Officer, World Acceptance Corporation, at its headquarters office or such other address as the Company may designate in writing to the Participant.
8.	Failure to Enforce Not a Waiver. The failure of the Company to enforce at any time any provision of this Agreement shall in no way be construed to be a waiver of such provision or of any other provision hereof.
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9.	Plan Provisions. This Agreement and the rights of the Participant hereunder are subject to all the terms and conditions of the Plan, as the same may be amended from time to time, as well as to such rules and regulations as the Committee may adopt for administration of the Plan. Any inconsistency between the Agreement and the Plan shall be resolved in favor of the Plan.
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10.	Acknowledgement of Authority. As a condition of receiving this Award, the Participant agrees that the Committee, as administrator of the Plan (and the Board, to the extent acting as administrator of the Plan pursuant to the terms of the Plan), shall have full and final authority to construe and interpret the Plan and this Agreement, and to make all other decisions and determinations as may be required under the terms of the Plan or this Agreement as they may deem necessary or advisable for the administration of the Plan or this Agreement, and that all such interpretations, decisions and determinations shall be final and binding on the Participant, the Company and all other interested persons.
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2017 Stock Incentive Plan

Restricted Stock Award Agreement (Service-Based)

11.	Section 16 Compliance. Notwithstanding any other provision of the Plan or this Agreement, if the Participant is subject to Section 16 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), the Plan, the Restricted Shares, and this Agreement shall be subject to any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule. To the extent permitted by applicable law, this Agreement shall be deemed amended to the extent necessary to conform to such applicable exemptive rule.
12.	Participant Undertaking. The Participant agrees to take whatever additional actions and execute whatever additional documents the Company may in its reasonable judgment deem necessary or advisable in order to carry out or effect one or more of the obligations or restrictions imposed on the Participant pursuant to the express provisions of this Agreement.
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13.	Code Section 409A; Compliance with Laws. If and to the extent Code Section 409A is deemed to apply to the Plan, the Award and/or the Restricted Shares, the Plan, the Award and/or the Restricted Shares are intended either to be exempt from Code Section 409A or to comply with Code Section 409A. Notwithstanding anything in the Plan or any award agreement, including this Agreement, to the contrary, the Participant shall be solely responsible for the tax consequences of awards under the Plan, including but not limited to this Award, and in no event shall the Company have any responsibility or liability if an award does not meet any applicable requirements of Code Section 409A. The Company does not represent or warrant that the Plan or any award (including but not limited to the Award granted hereunder) complies with any provision of federal, state, local or other tax law.
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14.	Governing Law. All questions concerning the construction, validity and interpretation of this Agreement shall be governed by and construed according to the laws of the State of South Carolina without regard to the principles of conflicts of laws, and in accordance with applicable federal laws of the United States.
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15.	Entire Agreement. The Plan and this Agreement (including any exhibit or schedule hereto) constitute the entire agreement of the parties and supersede in their entirety all prior undertakings and agreements of the Company and Participant with respect to the subject matter hereof.
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16.	Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original, but all of which together constitute one and the same instrument.
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17.	Severability. In the event one or more of the provisions of this Agreement should, for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Agreement, and this Agreement shall be construed as if such invalid, illegal or unenforceable provision had never been contained herein.
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[Signatures on Following Page]

2017 Stock Incentive Plan

Restricted Stock Award Agreement (Service-Based)

IN WITNESS WHEREOF, World Acceptance Corporation has executed this Agreement in on this 17^th^ Day of February

WORLD ACCEPTANCE CORPORATION

BY:
PRINT NAME:	R. Chad Prashad
Its:	President **** and Chief Executive Officer

I acknowledge receipt of a copy of the Plan (either as an attachment hereto or that has been previously received by me) and that I have carefully read this Award Agreement and the Plan. I agree to be bound by all of the provisions set forth in this Award Agreement and the Plan.

BY:
PRINT NAME:	J. Tobin Turner

2017 Stock Incentive Plan

Restricted Stock Award Agreement (Service-Based)

Schedule A

Vesting Date	Shares
12/1/2026	3000
12/1/2027	3000

2017 Stock Incentive Plan

Restricted Stock Award Agreement (Service-Based)

ex_921319.htm

Exhibit 10.3

WORLD ACCEPTANCE CORPORATION

RESTRICTED STOCK AWARD AGREEMENT

(PERFORMANCE-BASED)

PARTICIPANT:	J. Tobin Turner
GRANT DATE:	2/17/2026
TOTAL NUMBER OF SHARES OF RESTRICTED STOCK:	2500
VESTING SCHEDULE:	See Schedule A
PERFORMANCE PERIOD(S) AND PERFORMANCE GOAL(S)	See Schedule A

THIS RESTRICTED STOCK AWARD AGREEMENT, including Schedule A attached hereto, which is expressly made a part of the Agreement (the “Agreement”), effective as of the Grant Date above, represents the grant of Restricted Stock by the Company to the Participant named above, pursuant to the provisions of the Plan and this Agreement. All capitalized terms shall have the meanings ascribed to them in the Plan, unless specifically set forth otherwise herein. The parties hereto agree as follows:

1.	Grant of Award. The Company hereby grants to the Participant an Award of 2500 shares of the Company’s Stock subject to the restrictions placed thereon pursuant to the terms and conditions of this Agreement (the “Restricted Shares”) and those set forth in the Plan.
2.	Terms of Award.
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a.	Escrow of Shares. A certificate representing the Restricted Shares shall be issued in the name of the Participant (or, in the case of uncertificated shares, other written evidence of ownership in accordance with applicable law shall be provided) as soon as practicable after the Grant Date and shall be escrowed with the Human Resources Department or Chief Financial Officer of the Company (the “Escrow Agent”) subject to (i) vesting and removal of the restrictions placed thereon or (ii) forfeiture pursuant to the terms of this Agreement.
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2017 Stock Incentive Plan

Restricted Stock Award Agreement (Performance-Based)

b.	Vesting. For purposes of this Agreement, the “Performance Goals” refer to those goals listed on Schedule A attached hereto, and the “Performance Period” is the period beginning on the Grant Date and ending on such date or dates and satisfaction of such conditions as described in Schedule A. Except as provided in Sections 2(c) and 2(d) below, the Restricted Shares shall vest and be earned subject to the achievement of such Performance Goals, (which is attached hereto and expressly made a part of this Agreement) during the Performance Period. The Participant expressly acknowledges that the Restricted Shares shall vest only upon such terms and conditions as are provided in this Agreement (including but not limited to Schedule A) and otherwise in accordance with the Plan. The Award shall not vest, in whole or in part, unless the Participant remains employed by the Company or a Related Entity, as applicable, from the Grant Date until each vesting date as described in Schedule A (each a “Vesting Date”). The Committee has the authority to determine whether and to what degree the Restricted Shares shall be deemed earned and vested. Notwithstanding the foregoing, if the Participant’s employment is terminated by reason of the Participant’s death, then the Performance Goals shall be deemed fully met and the Award shall vest with respect to any and all of the Restricted Shares that have not previously vested, which rights shall inure to the Participant’s beneficiary (or if no beneficiary was designated or if no designated beneficiary survives the Participant, then the Participant’s estate).****Once vested pursuant to the terms of this Agreement, the Restricted Shares shall be deemed “Vested Shares.”
c.	Change in Control. Notwithstanding any other provision of this Agreement or the Plan to the contrary (and unless otherwise required pursuant to Code Section 409A), the following provisions shall apply in the event of a Change in Control (as defined in the Plan):
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i.	To the extent that the successor surviving company in the Change in Control event does not assume or substitute the Award (or in which the Company is the ultimate parent corporation and does not continue the Award) on substantially similar terms or with substantially equivalent economic benefits (as determined by the Committee) as the Award outstanding immediately prior to the Change in Control event, any restrictions, including but not limited to achievement of the Performance Goals in full, applicable to the Restricted Shares, shall be deemed to have been met, and the Restricted Shares shall become fully vested, earned and payable to the fullest extent of the original grant of the Award.
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ii.	Further, in the event the Award is substituted, assumed or continued as described in Section 2(c)(i), above, the Award shall nonetheless become vested in full and any restrictions, including but not limited to achievement of the Performance Goals, applicable to any outstanding Restricted Shares, shall be deemed to have been met, and such Restricted Shares shall become fully vested, earned and payable to the fullest extent of the original award, if the employment of the Participant is terminated within one year (or such other period after a Change in Control as may be stated in the Participant’s change in control, consulting or other similar agreement in effect on the Plan Effective Date, if applicable) after the effective date of a Change in Control if such termination of employment (a) is by the Company not for Cause (as defined in the Plan) or (b) is by the Participant for Good Reason (as defined in the Plan). For clarification, for purposes of this Section 2(c), the “Company” shall include any successor to the Company.
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2017 Stock Incentive Plan

Restricted Stock Award Agreement (Performance-Based)

iii.	Notwithstanding the foregoing, in the event that the Participant is a party to an employment agreement with the Company that was entered into prior to the Plan Effective Date and a Change in Control occurs, the Participant shall be entitled to the greater of the benefits provided herein or under the terms of such employment agreement.
d.	Termination of Employment. In the event of a termination of the Participant’s employment with the Company or any Related Entity, as applicable, for any reason other than the Participant’s death, all unvested Restricted Shares shall be immediately forfeited. Notwithstanding the foregoing, in the event that the Participant is a party to an employment agreement (to the extent applicable) with the Company and a termination of employment by the Company without Cause (as defined in the Plan) or by the Participant for Good Reason (as defined in the Plan) occurs, the Participant shall be entitled to the greater of the benefits provided herein or under the terms of such employment agreement.
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e.	Rights as Shareholder; Dividends. The Participant shall have all the rights of a shareholder with respect to the Restricted Shares, subject to the restrictions herein, including the right to vote the Restricted Shares and to receive all dividends or other distributions paid or made with respect to the Restricted Shares.****Any dividends declared and paid by the Company with respect to the Restricted Shares prior to the date that they become Vested Shares (the “Accrued Dividends”) shall be paid to the Participant only to the extent that the Restricted Shares upon which such dividends are paid become Vested Shares. Any Accrued Dividends with respect to the Restricted Shares shall be forfeited to the extent that the Restricted Shares are forfeited. The Participant authorizes the Company to hold as a general obligation of the Company any Accrued Dividends. Accrued Dividends with respect to the Restricted Shares shall be paid to the Participant within 30 days after the date on which such Restricted Shares become Vested Shares, without interest thereon, and any subsequent dividends or other distributions (in cash or other property, but excluding extraordinary dividends) that are declared and/or paid with respect to such Vested Shares shall be paid to the Participant on an annual basis if and when declared.
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f.	Transferability. None of the Restricted Shares or any rights or interests therein may be sold, transferred, pledged, assigned or otherwise alienated or hypothecated in any manner whatsoever, other than by will or by the laws of descent and distribution, until they have vested. The terms of the Plan and this Agreement are binding upon the executors, administrators, heirs, successors and assigns of the Participant.
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2017 Stock Incentive Plan

Restricted Stock Award Agreement (Performance-Based)

g.	Legends. Until they become vested, the Restricted Shares shall be subject to the following legend:

“THE SHARES OF STOCK EVIDENCED BY THIS CERTIFICATE ARE SUBJECT TO AND ARE TRANSFERABLE ONLY IN ACCORDANCE WITH THAT CERTAIN AWARD AGREEMENT DATED [ ] PURSUANT TO THE WORLD ACCEPTANCE CORPORATION 2017 STOCK INCENTIVE PLAN. ANY ATTEMPTED TRANSFER OF THE SHARES OF STOCK EVIDENCED BY THIS CERTIFICATE IN VIOLATION OF SUCH AWARD AGREEMENT SHALL BE NULL AND VOID AND WITHOUT EFFECT. A COPY OF THE AWARD AGREEMENT MAY BE OBTAINED FROM THE HUMAN RESOURCES DEPARTMENT OR CHIEF FINANCIAL OFFICER OF WORLD ACCEPTANCE CORPORATION.”

h.	Removal of Legend. After Restricted Shares become vested, and upon the Participant’s request, the Participant shall be entitled to receive a certificate (or such other evidence if the Stock is uncertificated) for such Vested Shares with the legend referred to in Section 2(g) removed and the Human Resources Department or Chief Financial Officer of the Company shall deliver to the Participant such certificate (or such other evidence if the Stock is uncertificated) representing such Vested Shares, free and clear of all restrictions, except for any applicable securities laws restrictions.
i.	Delivery of Forfeited Shares. The Participant authorizes the Human Resources Department or Chief Financial Officer to deliver to the Company any and all Restricted Shares that are forfeited under the provisions of this Agreement.
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3.	Tax Withholding. The Company shall have the power and the right to deduct or withhold, or require the Participant or beneficiary to remit to the Company, the employer’s statutory withholding based upon applicable statutory withholding rates for federal, state, and local taxes, domestic or foreign, including payroll taxes, that are applicable with respect to any taxable event arising as a result of this Agreement. The amount of any such withholding shall be determined by the Company. The Participant may satisfy any such tax withholding obligation by any or a combination of the following means: (a) tendering a cash payment; (b) authorizing the Company to withhold from the shares otherwise issuable to the Participant upon vesting of the Restricted Shares the number of shares having a Fair Market Value as nearly equal as possible to, but not exceeding (unless otherwise permitted by the Committee in a manner in accordance with applicable law and applicable accounting principles) the withholding tax obligation; or (c) delivering to the Company unencumbered shares of Stock owned by the Participant having a Fair Market Value as nearly equal as possible to, but not exceeding (unless otherwise permitted by the Committee in a manner in accordance with applicable law and applicable accounting principles), the amount of such obligations being satisfied; provided, however, that with respect to clauses (b) and (c) above, the Committee in its sole discretion may disapprove such payment and require that such taxes be paid in cash.
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2017 Stock Incentive Plan

Restricted Stock Award Agreement (Performance-Based)

4.	Adjustments. In the event of a change in capitalization described in Section 8.2(g) of the Plan, other than a dividend or other distribution described in Section 2(e) above, then unless such event or change results in the termination of all the Restricted Shares granted under this Agreement, the Committee shall adjust, in an equitable manner and as provided in the Plan, the number and class of shares underlying the Restricted Shares, the maximum number of shares for which the Award may vest, and the class of Stock as appropriate, in addition to taking any such other action as may be permitted under the Plan, to reflect the effect of such event or change in the Company’s capital structure in such a way as to preserve the value of the Award.
5.	Employment. Nothing in the Plan or in this Agreement shall confer upon the Participant any right to continue in the employ of the Company or any Related Entity, or interfere in any way with the right to terminate the Participant’s employment at any time for any reason or no reason.
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6.	Forfeiture; Recoupment; Compliance with Ownership and Other Company Policies.
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a.	Notwithstanding any other provision of this Agreement, if, at any time during the employment or service of the Participant or at any time following termination of employment or service for any reason (regardless of whether such termination was by the Company or the Participant, and whether voluntary or involuntary), the Participant engages in a Prohibited Activity (as defined herein), then, unless the Committee determines otherwise, and in addition to any other remedy available to the Company (on a non-exclusive basis): (i) the Award shall immediately be terminated and forfeited in its entirety; (ii) any shares of Stock subject to the Award (whether vested or unvested) shall immediately be forfeited and returned to the Company (without the payment by the Company of any consideration for such shares), and the Participant shall cease to have any rights related thereto and shall cease to be recognized as the legal owner of such shares; and (iii) any Award-Equivalent Value (as defined in the Plan) shall be paid to the Company within 10 business days of the Company’s request to the Participant therefor. Further, to the extent that the Participant receives any amount in excess of the amount that the Participant should otherwise have received under the terms of this Agreement for any reason (including, without limitation, by reason of a financial restatement, mistake in calculations or other administrative error), the Participant shall be required to repay any such excess amount to the Company. The Participant agrees that the Award, any shares of Stock subject to the Award and any other benefits related to the Award (i) shall be subject to any applicable forfeiture, clawback, recoupment or repayment policies, equity retention policies, stock ownership guidelines and/or other policies that may be implemented by the Company or a Related Entity from time to time to the extent applicable to the Participant, and (ii) shall be subject to any clawback, forfeiture, recoupment or similar provisions that may apply under applicable laws, rules or regulations.
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2017 Stock Incentive Plan

Restricted Stock Award Agreement (Performance-Based)

b.	For purposes of this Agreement, a “Prohibited Activity” shall mean any of the following: (i) the Participant’s violation of any noncompetition, nonsolicitation or confidentiality restrictions or other restrictive covenants applicable to the Participant; (ii) the Participant’s material violation of any of the Company’s policies, as determined by the Committee in its discretion; (iii) the Participant’s violation of any federal, state or other law, rule or regulation which is detrimental to the business, reputation, character or standing of the Company and/or a Related Entity, as determined by the Committee in its discretion; (iv) the Participant’s disclosure or other misuse of any confidential information or material concerning the Company or a Related Entity (except as otherwise required by law or as agreed to by the parties herein); (v) the Participant’s falsification of Company records or engaging in theft, fraud, embezzlement or other criminal conduct which is detrimental to the business, reputation, character or standing of the Company and/or a Related Entity, as determined by the Committee in its discretion; (vi) the Participant’s indictment, conviction or entering of a plea of any type (including, but not limited to, a plea of nolo contendere) for a crime constituting a felony or a misdemeanor involving moral turpitude, which involves or relates in any way to the Participant’s actions or omissions during the employment or service of the Participant and/or to events affecting the Company (and/or a Related Entity) that occur during the employment or service of the Participant; (vii) any illicit or unauthorized act or omission which is detrimental to the business, reputation, character or standing of the Company and/or a Related Entity, as determined by the Committee in its discretion; or (viii) the Participant’s failure to reasonably cooperate with any litigation or investigation affecting the Company and/or a Related Entity. For the avoidance of doubt, in each and every instance the Committee shall have sole and absolute discretion to determine if a Prohibited Activity has occurred.
7.	Notices. Except as otherwise provided in the Plan or determined by the Committee, any written notice required or permitted under this Agreement shall be deemed given when delivered personally or electronically, as appropriate, either to the Participant or to the Human Resources Department or Chief Financial Officer of the Company, or when deposited in a United States Post Office as registered mail, postage prepaid, addressed as appropriate either to the Participant at the then current address as maintained by the Company or such other address as the Participant may advise the Company in writing, or to the Attention: Human Resources Department or Chief Financial Officer, World Acceptance Corporation, at its headquarters office or such other address as the Company may designate in writing to the Participant.
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8.	Failure to Enforce Not a Waiver. The failure of the Company to enforce at any time any provision of this Agreement shall in no way be construed to be a waiver of such provision or of any other provision hereof.
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9.	Plan Provisions. This Agreement and the rights of the Participant hereunder are subject to all the terms and conditions of the Plan, as the same may be amended from time to time, as well as to such rules and regulations as the Committee may adopt for administration of the Plan. Any inconsistency between the Agreement and the Plan shall be resolved in favor of the Plan.
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2017 Stock Incentive Plan

Restricted Stock Award Agreement (Performance-Based)

10.	Acknowledgement of Authority. As a condition of receiving this Award, the Participant agrees that the Committee, as administrator of the Plan (and the Board, to the extent acting as administrator of the Plan pursuant to the terms of the Plan), shall have full and final authority to construe and interpret the Plan and this Agreement, and to make all other decisions and determinations as may be required under the terms of the Plan or this Agreement as they may deem necessary or advisable for the administration of the Plan or this Agreement, and that all such interpretations, decisions and determinations shall be final and binding on the Participant, the Company and all other interested persons.
11.	Section 16 Compliance. Notwithstanding any other provision of the Plan or this Agreement, if the Participant is subject to Section 16 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), the Plan, the Restricted Shares, and this Agreement shall be subject to any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule. To the extent permitted by applicable law, this Agreement shall be deemed amended to the extent necessary to conform to such applicable exemptive rule.
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12.	Participant Undertaking. The Participant agrees to take whatever additional actions and execute whatever additional documents the Company may in its reasonable judgment deem necessary or advisable in order to carry out or effect one or more of the obligations or restrictions imposed on the Participant pursuant to the express provisions of this Agreement.
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13.	Code Section 409A; Compliance with Laws. If and to the extent Code Section 409A is deemed to apply to the Plan, the Award and/or the Restricted Shares, the Plan, the Award and/or the Restricted Shares are intended either to be exempt from Code Section 409A or to comply with Code Section 409A. Notwithstanding anything in the Plan or any award agreement, including this Agreement, to the contrary, the Participant shall be solely responsible for the tax consequences of awards under the Plan, including but not limited to this Award, and in no event shall the Company have any responsibility or liability if an award does not meet any applicable requirements of Code Section 409A. The Company does not represent or warrant that the Plan or any award (including but not limited to the Award granted hereunder) complies with any provision of federal, state, local or other tax law.
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14.	Governing Law. All questions concerning the construction, validity and interpretation of this Agreement shall be governed by and construed according to the laws of the State of South Carolina without regard to the principles of conflicts of laws, and in accordance with applicable federal laws of the United States.
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15.	Entire Agreement. The Plan and this Agreement (including any exhibit or schedule hereto) constitute the entire agreement of the parties and supersede in their entirety all prior undertakings and agreements of the Company and Participant with respect to the subject matter hereof.
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2017 Stock Incentive Plan

Restricted Stock Award Agreement (Performance-Based)

16.	Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original, but all of which together constitute one and the same instrument.
17.	Severability. In the event one or more of the provisions of this Agreement should, for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Agreement, and this Agreement shall be construed as if such invalid, illegal or unenforceable provision had never been contained herein.
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[Signatures on Following Page]

2017 Stock Incentive Plan

Restricted Stock Award Agreement (Performance-Based)

IN WITNESS WHEREOF, World Acceptance Corporation has executed this Agreement in on the 17th day of February.

WORLD ACCEPTANCE CORPORATION

BY:
PRINT NAME:	R. Chad Prashad
Its:

BY:
PRINT NAME:	J. Tobin Turner

2017 Stock Incentive Plan

Restricted Stock Award Agreement (Performance-Based)

RESTRICTED STOCK AWARD AGREEMENT

(PERFORMANCE-BASED)

SCHEDULE A

1.	Grant Date: 2/17/2026
2.	Number of Shares Subject to Award: 2500 shares
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The actual number of Shares, if any, subject to the Award that may be earned and vested shall be determined based upon the attainment of the Performance Goals during the Performance Period specified below, as determined by the Committee; provided, that except as otherwise provided in the Agreement, the earning and vesting of the Shares is subject to the continued employment or service of the Participant from the Grant Date until each applicable vesting date **** and such other terms and conditions as may be imposed by the Plan and the Agreement, including but not limited to this Schedule A.

3.	Performance Goals: $18.40 EPS
4.	Performance Period; Certification:
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a.	Performance Period. The measurement period for the Performance Goals shall be the period beginning 6/1/2025 and ending 3/31/2027 (the “Performance Period”).
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b.	Performance Goals. If and to the extent that the Performance Target above is met during the Performance Period, then that percentage of the Award shall vest. The Performance Target shall be measured at the end of Performance Period, as described in Section 3, above. If and to the extent that the Performance Target is not met as of the last day of the Performance Period, the Options and the underlying Shares shall be proportionately forfeited.
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c.	Certification of Performance Goal; Committee Discretion. Except in the event of the occurrence of a Change in Control, the Committee shall, as soon as practicable following the last business day of the Performance Period, determine and certify, whether the Performance Goal has been attained and to what extent. Such certification shall be final, conclusive and binding on the Participant, and on all other persons, to the maximum extent permitted by law. The Committee has sole discretion to determine if and to the extent that any Option Shares have vested and become exercisable.
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5.	Vesting Terms. Any of the Award that is not earned as of the end of the Performance Period shall be forfeited as of the end of the Performance Period. Remaining Earned Shares shall vest after the close of the Performance Period (the “Vesting Date”). Further, in the event of a termination of the Participant’s employment with the Company or any of its Related Entities for any reason prior to any Vesting Date, unvested Shares will be immediately forfeited, except as otherwise provided in the Agreement. The Committee shall have sole authority to determine whether the Performance Goals and service requirements have been satisfied and its determination in this regard shall be final and binding on all parties.
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2017 Stock Incentive Plan

Restricted Stock Award Agreement (Performance-Based)

ex_921320.htm

Exhibit 99.1

Contact:	John L. Calmes Jr.<br><br> <br>Executive VP, Chief Financial & Strategy Officer,<br><br> <br>and Treasurer<br><br> <br>(864) 298-9800

World Acceptance Corporation Names J. Tobin Turner

Executive Vice President and Chief Operating Officer

GREENVILLE, S.C. (February 17, 2026) - World Acceptance Corporation (NASDAQ:WRLD) (“World Acceptance” or “the Company”) today announced that J. Tobin Turner has been appointed Executive Vice President and Chief Operating Officer, effective February 17, 2026.

Mr. Turner has served as the Company’s Senior Vice President of Strategy and Analytics since 2023. In that role, he has led initiatives focused on data-driven decision-making, customer engagement, and operational performance across the Company’s branch-based lending model. As Chief Operating Officer, Mr. Turner will oversee World Acceptance’s branch network and day-to-day operational execution.

Prior to joining World Acceptance, Mr. Turner served as an Associate Professor of Economics and Business Administration at Presbyterian College from 2010 to 2023, including service as Department Chair. In addition to his academic career, he founded and managed a series of multi-location, service-based businesses for more than 10 years.

Mr. Turner holds a Ph.D. in Operations and Supply Chain Management and a Master of Business Administration. “Tobin’s combination of operational expertise, analytical rigor, and real-world leadership experience makes him exceptionally well suited to serve as our Chief Operating Officer,” said R. Chad Prashad, President and Chief Executive Officer of World Acceptance Corporation. “Since joining World Acceptance, Tobin has demonstrated a deep understanding of our branch-based business and a strong commitment to execution excellence. I am confident he will play a critical role in strengthening our operations, supporting our teams in the field, and advancing our long-term strategic objectives.”

Ken Bramlett, Chairman of the Board, added, “The Board is very pleased to support Tobin’s appointment as Chief Operating Officer. His disciplined approach to analytics, operational leadership, and strategic execution has already made a meaningful impact on the Company. We believe Tobin is well positioned to help guide World Acceptance through its next phase of operational growth and performance.”

Mr. Turner said, “I am honored to take on the role of Chief Operating Officer and grateful for the trust placed in me by Chad, Ken, and the Board of Directors. World Acceptance has a strong foundation built on serving our customers and supporting our branch teams. I look forward to continuing to work alongside our talented employees to enhance operational excellence and deliver long-term value for our customers and shareholders.”

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WRLD Names J. Tobin Turner Executive Vice President and Chief Operating Officer

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About World Acceptance Corporation

Founded in 1962, World Acceptance Corporation (NASDAQ: WRLD) is a people-focused finance company that provides personal installment loan solutions and personal tax preparation and filing services to over one million customers each year. Headquartered in Greenville, South Carolina, the Company operates more than 1,000 community-based World Finance branches across 16 states. The Company primarily serves a segment of the population that does not have ready access to credit; however, unlike many other lenders in this segment, the Company strives to work with its customers to understand their broader financial situations, ensure they have the ability and stability to make payments, and help them achieve their financial goals. For more information, visit www.loansbyworld.com.

Cautionary Note Regarding Forward-Looking Information

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including expectations related to Mr. Turner’s appointment. These statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied.

Statements other than those of historical fact, as well as those identified by words such as “anticipate,” “estimate,” “intend,” “plan,” “expect,” “project,” “believe,” “may,” “will,” “should,” “would,” “could,” “probable,” and any variation of the foregoing and similar expressions, are forward-looking statements. Such forward-looking statements are inherently subject to risks and uncertainties, and you should not place undue reliance on them.

Important factors that could cause actual results or performance to differ from the expectations expressed or implied in such forward-looking statements include, among others, changes in Mr. Turner’s plans and the Company’s ability to attract or retain key personnel. These and other factors are discussed in greater detail in Part I, Item 1A, “Risk Factors,” in the Company’s most recent Annual Report on Form 10-K for the fiscal year ended March 31, 2025, as filed with the SEC, and in the Company’s other reports filed with or furnished to the SEC from time to time.

World Acceptance Corporation undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of this release, except as required by law. The Company is not responsible for changes made to this document by wire or Internet services.

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