Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Blunt Matt
  2. Issuer Name and Ticker or Trading Symbol
COPART INC [CPRT]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
C/O COPART, INC., 4665 BUSINESS CENTER DRIVE
3. Date of Earliest Transaction (Month/Day/Year)
03/27/2012
(Street)

FAIRFIELD, CA 94534
4. If Amendment, Date Original Filed(Month/Day/Year)
03/29/2012
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock (3) 03/27/2012   M   40,000 A $ 17.62 (6) 40,000 (1) (6) D  
Common Stock 03/27/2012   S   2,234 D $ 26.575 (6) 37,766 (1) (6) D  
Common Stock 03/27/2012   S   5,202 D $ 26.595 (6) 32,564 (1) (6) D  
Common Stock 03/28/2012   S   15,300 D $ 26.41 (6) 17,264 (1) (6) D  
Common Stock 03/28/2012   S   200 D $ 26.575 (6) 17,064 (1) (6) D  
Common Stock 03/28/2012   S   17,064 D $ 26.41 (6) 0 (1) (6) D  
Common Stock 03/28/2012   M   8,586 A $ 16.56 (6) 8,586 (4) (6) D  
Common Stock 03/28/2012   S   8,586 D $ 26.41 (6) 0 (4) (6) D  

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (Right to Buy) (1) $ 17.62 03/27/2012   M     40,000   (2) 12/03/2019 Common Stock (7) 40,000 (7) $ 0 0 D  
Stock Option (right to buy) (4) $ 16.56 03/28/2012   M     8,586   (5) 12/02/2020 Common Stock (8) 8,586 (8) $ 0 31,414 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Blunt Matt
C/O COPART, INC.
4665 BUSINESS CENTER DRIVE
FAIRFIELD, CA 94534
  X      

Signatures

 Matt Blunt   03/29/2012
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The transaction on this Form 4 consists of the exercise of a stock option to purchase 20,000 shares of Common Stock granted under the 2007 Equity Incentive Plan (as adjusted to 40,000 shares of Common Stock in respect of the stock divident described in footnote 6) and the sale of all of the shares of Common Stock the reporting person purchased through the exercise of such stock option. These shares that were issued upon the exercise of an option (described in Table II) were immediately used to cover sales (described in Table I).
(2) The option vested 50% after the first year, and thereafter monthly, over the remaining 12 months vesting term. The option grant date was 12/03/2009, and expiration date 12/03/2019.
(3) On January 10, 2012, Copart, Inc., a Delaware corporation, became the successor of Copart, Inc., a California corporation, pursuant to a merger. The merger had the effect of changing Copart, Inc.'s domicile, but did not alter the proportionate interests of security holders
(4) The transaction on this Form 4 consists of the exercise of 4,293 shares of Common Stock pursuant to a stock option to purchase 20,000 shares of Common Stock granted under the 2007 Equity Incentive Plan (as adjusted to 8,586 shares of Common Stock and 40,000 shares of Common Stock respectively, in respect of the stock divident described in footnote 6) and the sale of all of the shares of Common Stock the reporting person purchased through the exercise of such stock option. These shares that were issued upon the exercise of an option (described in Table II) were immediately used to cover sales (described in Table I).
(5) The option vested 50% after the first year, and thereafter monthly, over the remaining 12 months vesting term. The option grant date was 12/02/2010, and expiration date 12/02/2020.
(6) On March 8, 2012, Copart declared a stock dividend, payable to all holders of record of common stock on March 23, 2012, of one share of common stock for each share of common stock outstanding. As a result pursuant to anti-dilution provisions of the Company's equity incentive plan, both options for 20,000 shares of common stock held by the reporting person on March 23, 2012 became exercisable for 40,000 shares of common stock.
(7) This option was previously reported as an option for 20,000 shares of common stock at an exercise price of $35.24 per share, but was adjusted to reflect the stock dividend declared by Copart on March 8, 2012.
(8) This option was previously reported as an option for 20,000 shares of common stock at an exercise price of $33.12 per share, but was adjusted to reflect the stock dividend declared by Copart on March 8, 2012.

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