Company: BBY
Filing Date: 2025-05-01
Form Type: DEF 14A
Source: 0001140361-25-016935
Chunk: 93

Company: BEST BUY CO INC
Filing Date: 2025-05-01
Form: DEF 14A
Chunk 93
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 may be market-based, performance-based or time-based) awarded under our Best Buy Co., Inc. 2020 Omnibus Incentive Plan. |

| (2) | Includes weighted-average exercise price of outstanding stock options only. |

| (3) | Excludes securities to be issued upon exercise of outstanding options and rights. Includes 3,120,409 shares of our common stock that have been reserved for issuance under our 2008 Employee Stock Purchase Plan. |

Board Voting Recommendation Our Board recommends a vote FORapproval of Amendment No. 1 to the Best Buy Co., Inc. 2020 Omnibus Incentive Plan. It is intended that, unless otherwise instructed, the shares represented by proxy will be voted “FOR”the approval of Amendment No. 1 to the Best Buy Co., Inc. Omnibus Incentive Plan.

| 2025 Proxy Statement |     | 91 |

TABLE OF CONTENTS Shareholder Proposals

| 92 |     | 2025 Proxy Statement |

TABLE OF CONTENTS Item of Business No. 5 — Support for Shareholder Right to Act by Written Consent General Information The Best Buy Board recommends a vote AGAINST this proposal and its opposition statement can be found below the proposal. This shareholder proposal has been submitted by John Chevedden, 2215 Nelson Avenue, No. 205 Redondo Beach, CA 90278 (the beneficial owner of no less than 50 shares of Best Buy Common Stock). The proponent has requested we include the proposal and supporting statement in this proxy statement, and, if properly presented, the proposal will be voted on at the Regular Meeting of Shareholders. This proposal and supporting statement are quoted verbatim below, and Best Buy is not responsible for any inaccuracies contained in them.

| 2025 Proxy Statement |     | 93 |

TABLE OF CONTENTS Item of Business No. 5 — Shareholder Proposal _________________________ Shareholder Proposal - Support For Shareholder Right to Act by Written Consent Proposal 5 – Support for Shareholder Right to Act by Written Consent Shareholders request that our board of directors take such steps as may be necessary to permit written consent by shareholders entitled to cast the minimum number of votes that would be necessary to authorize the action at a meeting at which all shareholders entitled to vote thereon were present and voting. This includes shareholder ability to initiate any appropriate topic for written consent. Best Buy stock is in a long-term slump. Best Buy stock is significantly below its $114 price in 2021. In