Preheat oven to 350 degrees F.
Beat butter, sugar and vanilla extract until fluffy. Combine oats and flour and stir into butter/sugar mixture. Divide dough into 4 equal portions. Place 2 portions on opposite corners of a large, un-greased cookie sheet; press each into a circle about 1/8-inch thick, and press 1/2 inch of the outer edges with the tines of a fork. Repeat with other two portions.
Bake for 15 to 20 minutes or until lightly browned.
Remove from over and spread preserves in center of each circle; sprinkle with chopped pecans.
Cool 10 minutes on cookie sheet, then cut each circle into 8 wedges. Cool completely before serving.