Company: BBY
Filing Date: 2025-05-01
Form Type: DEF 14A
Source: 0001140361-25-016935
Chunk: 21

Company: BEST BUY CO INC
Filing Date: 2025-05-01
Form: DEF 14A
Chunk 21
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 upon the process we employed, the Compensation Committee determined that our compensation programs do not encourage risk-taking that is reasonably likely to result in a material adverse effect on the Company. Cybersecurity and Privacy Risk Oversight Our Board, with oversight by the Audit Committee, is integrally involved in reviewing the Company’s cybersecurity and data privacy programs. Securing customer information and honoring our privacy promises are core employee obligations, as highlighted in our Code of Ethics. Our customers entrust us with their information, and we seek to honor that trust through our cybersecurity and privacy practices.

| Responsible Party  |     | Oversight for Cybersecurity and Privacy                                                                                                                                                                                            |
| Board of Directors |     | Overall responsibility for enterprise risks.                                                                                                                                                                                       |
| Audit Committee    |     | Primary oversight responsibility for cyber/information security programs, assessment of cyber threats and defenses and privacy initiatives.                                                                                        |
| Management         |     | The Chief Risk Officer, Chief Compliance Officer, Chief Information Security Officer and other senior members of the cybersecurity and compliance teams are responsible for identifying and managing risks related to these areas. |

We have developed and implemented, and update on an ongoing basis, a risk-based information security program designed to identify, assess and manage material risks from cybersecurity threats. This program, led by our Chief Information Security Officer (the “CISO”), comprises administrative, technical and physical safeguards designed, under a risk-based approach, to reasonably mitigate cybersecurity risks to the confidentiality, integrity or availability of our information systems and information. The CISO and senior members of the compliance team update the Audit Committee on our cybersecurity and privacy postures no less frequently than quarterly and periodically update the full Board. In addition, Ms. Munce, a member of the Audit Committee, is certified by the National Association of Corporate Directors in Cybersecurity Oversight. We did not experience any material cyber incidents affecting the Company in fiscal 2025. For more information related to the Company’s cybersecurity risk management and governance, see Part 1, Item 1C, Cybersecurity, of our most recently filed Annual Report on Form 10-K.

| 2025 Proxy Statement |     | 23 |

TABLE OF CONTENTS Corporate Governance at Best Buy _____________________________ Board Evaluation Process Our Nominating Committee oversees the Board’s composition, effectiveness, accountability and evaluation of the performance of the Board, its committees and individual directors. On an annual basis, members of the Board complete a questionnaire evaluating the performance of the Board as a whole, each member’s respective committees and the performance of the Chair and Lead Independent Director (if one has been