William D. Nash - May 1, 2024 Form 4 Insider Report for CARMAX INC (KMX)

Role
President & CEO, Director
Signature
Christine Carter, attorney-in-fact
Stock symbol
KMX
Transactions as of
May 1, 2024
Transactions value $
$0
Form type
4
Date filed
5/3/2024, 04:33 PM
Previous filing
Apr 12, 2024
Next filing
May 7, 2024

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 +180K $0.00 180K May 1, 2024 Common Stock 180K $67.21 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 1, 2025, May 1, 2026, May 1, 2027 and May 1, 2028.