Company: ORLY
Filing Date: 2025-06-25
Form Type: 11-K
Source: 0000898173-25-000037
Chunk: 6

Company: O REILLY AUTOMOTIVE INC
Filing Date: 2025-06-25
Form: 11-K
Chunk 6
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itures were used to reduce employer contributions. During the year ended December 31, 2024, no forfeitures were used to pay Plan related consultation expenses. During the year ended December 31, 2023, less than $1 thousand in forfeitures was used to pay Plan related consultation expenses. At December 31, 2024 and 2023, the Plan retained $0.6 million and $2.8 million, respectively, in forfeitures.

Participant Loans

Participants are entitled to borrow from the Plan up to the lesser of $50 thousand or 50% of their vested account balance at a rate equal to one percentage point above the prime interest rate in effect, as reported in The Wall Street Journal, on the last business day of the

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month prior to the date the loan is made. Funds borrowed from the plan as well as the applicable interest are repaid by payroll deductions over a period no longer than 15 years and are secured by the participant’s vested account balance. Payment of Benefits Upon termination of service, death, disability, or retirement, a participant may elect to receive a partial or lump-sum payment in an amount equal to the value of the participant’s vested account balance. Participants may also elect to rollover their vested account balance into a different tax-qualified retirement plan or individual retirement account upon termination of service. Plan Termination Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event of plan termination, participants will become 100% vested in their account balances. NOTE 3. FAIR VALUE MEASUREMENTS The Plan uses the fair value hierarchy, which prioritizes the inputs used to measure the fair value of its financial instruments. The fair value hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are set forth below:

| ● | Level 1 - Unadjusted quoted prices in active markets that are accessible to the reporting entity at the measurement date for identical assets and liabilities. |

| ● | Level 2 - Inputs other than quoted prices in active markets for identical assets and liabilities that are observable either directly or indirectly for substantially the full term of the asset or liability.  Level 2 inputs include the following: |

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