An armrest is pivotally coupled to a seat back for movement between a stowed position and a use position. The armrest comprises a support frame and a cam. A memory mechanism is coupled to the support frame for actuation between an unlocked condition providing selective adjustment of the armrest in the use position and a locked condition for retaining memory of the use position upon pivotal movement of the armrest between the stowed position and use position. The memory mechanism includes an elongated memory bar fixedly secured to the support frame, a guide member slidably coupled to the memory bar, and a wedge plate slidably and pivotally coupled to the memory bar for movement between a slide position to allow sliding movement of the wedge plate along the memory bar and a wedge position for lockingly wedging the memory bar between the wedge plate and the guide plate.