Company: BBY
Filing Date: 2025-05-01
Form Type: DEF 14A
Source: 0001140361-25-016935
Chunk: 77

Company: BEST BUY CO INC
Filing Date: 2025-05-01
Form: DEF 14A
Chunk 77
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 Guidelines The Compensation Committee has established stock ownership guidelines requiring our non-management directors to own, indirectly or directly, 10,000 shares. Historically, we have expected that, until the ownership target is met, directors would retain 50% of their granted equity (net of taxes). In further support of director stock ownership, we began in fiscal 2014 granting director equity subject to a holding requirement for the duration of a director’s service on the Board. In fiscal 2025, all of our non-management directors were in compliance with the ownership guidelines. Our stock ownership guidelines for executive officers are discussed in the Compensation Discussion and Analysis — Executive Compensation Elements — Executive Stock Ownership Guidelinessection. Deferred Compensation Plan Each calendar year, we offer our directors the opportunity to defer up to 100% of their annual and committee chair retainers under the Deferred Compensation Plan which is described in the Compensation of Executive Officers — Nonqualified Deferred Compensationsection. No Company contributions or matching contributions are made for the benefit of directors under the Deferred Compensation Plan.

| 78 |     | 2025 Proxy Statement |

TABLE OF CONTENTS ____________________________ Executive and Director Compensation

Other Benefits We reimburse all directors for travel and other necessary business expenses incurred in performance of their services for us. In addition, all directors are covered under a directors’ and officers’ indemnity insurance policy. Equity Compensation Plan Information The following table provides information about shares of our common stock that may be issued under our equity compensation plans as of February 1, 2025:

| Plan Category                                              |     | Securities to Be        
 Issued Upon Exercise of 
 Outstanding Options and 
 Rights(1)               |     | Weighted Average Exercise 
        Price per Share of 
   Outstanding Options and 
                 Rights(2) |     | Securities Available for 
    Future Issuance Under 
      Equity Compensation 
                 Plans(3) |
| Equity compensation plans approved by security holders     |     | ​4,540,402              |     |                    $59.69 |     |               12,655,838 |
| Equity compensation plans not approved by security holders |     | —                       |     |                         — |     |                        — |
| Total                                                      |     | ​4,540,402              |     |                     59.69 |     |               12,655,838 |

| (1) | Includes grants of stock options, restricted stock units and restricted stock awards (which may be market-based, performance-based or time-based) awarded under our Best Buy Co.,