William D. Nash - May 1, 2022 Form 4 Insider Report for CARMAX INC (KMX)

Role
President & CEO
Signature
Christine Carter, attorney-in-fact
Stock symbol
KMX
Transactions as of
May 1, 2022
Transactions value $
-$1,047,202
Form type
4
Date filed
5/3/2022, 06:24 PM
Previous filing
Apr 28, 2022
Next filing
Jan 3, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction KMX Common Stock Tax liability -$1.05M -12.2K -7.22% $85.78 157K May 1, 2022 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction KMX Stock Options (Right to Buy) Award $0 +225K $0.00 225K May 2, 2022 Common Stock 225K $91.14 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The stock options were granted in tandem with stock appreciation rights (SARS). Accordingly, the exercise of one results in the surrender to the Company of the other. The SARS become exercisable only following a change in control of the Company as set forth in the Company's 2002 Stock Incentive Plan, as amended and restated. Once exercisable, the SARS would entitle the Reporting Person to receive the cash value of the options in lieu of exercising the options.
F2 The stock options become exercisable with respect to one-fourth of the underlying shares of Common Stock on each of May 2, 2023, May 2, 2024, May 2, 2025 and May 2, 2026.