Company: ORLY
Filing Date: 2025-03-31
Form Type: DEF 14A
Source: 0000898173-25-000017
Chunk: 14

Company: O REILLY AUTOMOTIVE INC
Filing Date: 2025-03-31
Form: DEF 14A
Chunk 14
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 the Nasdaq rules. During this review, the Board considered transactions and relationships between each Director or any member of his or her family and the Company during 2024. Please see discussions in “Affiliated Relationships” and “Certain Relationships and Related Transactions” sections for further descriptions, by specific category and type, of the transactions and relationships reviewed. Consistent with these considerations, the Board has determined that Messrs. Hendrickson, Murphy, and Whitfield, and Mss. deBeers, Perlman, and Sastre (“independent Directors”) are independent under the Nasdaq rules. The Board also previously determined that Ms. Weiss, who is not standing for re-election to the Board, satisfied the independence requirements under the Nasdaq rules. In making its independence determination with regard to Ms. deBeers, the Board considered that Ms. deBeers was previously a partner at the law firm of Skadden, Arps, Slate, Meagher & Flom LLP (“Skadden” or the “firm”). Skadden provides legal services to the Company. The fees paid by the Company to Skadden for the years ended December 31, 2024, 2023 and 2022, accounted for less than 0.1% of revenues of the firm for each of these last three years. Ms. deBeers retired from Skadden in February of 2025 and no longer receives compensation from the firm, other than fixed retirement payments for prior service with the firm. Affiliated Relationships Greg Henslee, Director of the Board, served as the Company’s Chief Executive Officer from 2005 through 2018. Greg Henslee also serves as Executive Chairman of the Board of the Company. David O’Reilly and Larry O’Reilly, Directors of the Board, are siblings. David O’Reilly also serves as Executive Vice Chairman of the Board of the Company. Mr. Larry O’Reilly, consistent with the Board’s mandatory retirement age policy, is not standing for re-election. Gregory D. Johnson, Director of the Board, served as the Company’s Chief Executive Officer from May of 2018 until January of 2024, when he retired from the Company. Mr. Johnson was approved by shareholders as a Director at the May of 2024 Annual Meeting of Shareholders. Mr. Johnson qualifies as an affiliated Director but is not an employee Director. Leadership Structure The Company’s leadership structure, within its Board, consists of a Chairman of the Board, two Vice Chairmen