Company: BBY
Filing Date: 2025-05-01
Form Type: DEF 14A
Source: 0001140361-25-016935
Chunk: 41

Company: BEST BUY CO INC
Filing Date: 2025-05-01
Form: DEF 14A
Chunk 41
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 audits, employee benefit plan audits and special procedures required to meet certain regulatory requirements. Tax services include tax consulting services, as well as compliance and other services performed by the independent registered public accounting firm when it is most efficient and effective to use such firm as the tax service provider. As appropriate, the Audit Committee then pre-approves the services and the related estimated fees. The Audit Committee requires our independent registered public accounting firm and management to periodically report actual fees versus the estimate throughout the year by category of service. During the year, circumstances may arise when it becomes necessary to engage our independent registered public accounting firm for additional services not contemplated in the initial annual proposal. In those instances, the Audit Committee pre-approves the additional services and related fees before engaging our independent registered public accounting firm to provide the additional services. Board Voting Recommendation The members of the Audit Committee and the Board believe that the continued retention of D&T to serve as the Company’s independent registered public accounting firm is in the best interests of the Company and our shareholders. The Board recommends that shareholders vote FORthe proposal to ratify the appointment of D&T as our independent registered public accounting firm for the fiscal year ending January 31, 2026. The affirmative vote of a majority of the voting power of the shares present and entitled to vote at the Meeting is required to ratify D&T as our independent registered accounting firm. Although ratification is not required pursuant to our By-laws or otherwise, the Board is submitting the selection of D&T to our shareholders for ratification because we value our shareholders’ views on the Company’s independent registered public accounting firm. If the appointment of D&T were not to be ratified by the shareholders, the Audit Committee would not be required to appoint another independent registered public accounting firm but would give consideration to an unfavorable vote. Even if the selection is ratified, the Audit Committee, in its discretion, may select a different independent registered public accounting firm at any time during the year if it determines that such a change would be in the best interests of the Company and our shareholders.

| 50 |     | 2025 Proxy Statement |

TABLE OF CONTENTS Item of Business No. 3 — Advisory Vote to Approve Named Executive Officer Compensation We are providing our shareholders with an opportunity to cast an advisory vote, a “Say on Pay,” regarding our fiscal 2025 named executive officer (“NEO”) compensation program, as described in the Executive and Director Compensationsection of this proxy statement. Information About the Advisory Vote to Approve Named Executive Officer Compensation The Compensation Committee