Company: BBY
Filing Date: 2025-05-01
Form Type: DEF 14A
Source: 0001140361-25-016935
Chunk: 50

Company: BEST BUY CO INC
Filing Date: 2025-05-01
Form: DEF 14A
Chunk 50
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 trends, product cycles and other market factors. At the time the performance goals were set for Compensable Enterprise Operating Income and Compensable Enterprise Revenue, the Company had completed another challenging year and anticipated this trend to continue. As such, we set our fiscal 2025 target performance goals for Compensable Enterprise Operating Income near fiscal 2024 results, and Compensable Enterprise Revenue below fiscal 2024 results, which was consistent with the guidance provided to shareholders at the start of fiscal 2025. We set the weighting for Compensable Enterprise Operating Income and Compensable Enterprise Revenue at 45% of the overall opportunity for each metric to reinforce the focus on both of those measures for fiscal 2025. The weight of the qualitative portion of the plan was set at 10% of the overall opportunity, and again focused on three specific areas: Culture of Belonging, Social Impact and Sustainability, each of which are core to our culture and overall business strategy. The Compensation Committee charged management with updating the Compensation Committee on actions taken and results throughout fiscal 2025 relative to progress towards the goals in each of the stated areas. At the end of fiscal 2025, management presented its summary of actions taken throughout the year and a recommendation for the Shared Success score. The Board was proud of the Company’s ability to continue to make progress towards these goals. In discussing the Shared Success score, the Compensation Committee focused on the following areas:

| • | Culture of Belonging.The Company regularly reviews and monitors employee engagement survey results and employee turnover data to ensure meaningful progress towards fostering a welcoming environment for all employees. Our employee engagement scores increased from fiscal 2024 to fiscal 2025, and we achieved our lowest employee turnover in six years. |

| 2025 Proxy Statement |     | 59 |

TABLE OF CONTENTS Executive and Director Compensation ____________________________

| • | Sustainability.We remain committed to propelling the circular economy forward through reuse and responsible recycling, which reduces waste and preserves resources. We continue to provide energy-efficient product options to our customers, which helps them live more sustainably. We made more progress toward our carbon neutrality goals by continuing our efforts to reduce carbon emissions and supporting energy efficiency programs. |

The following chart shows actual fiscal 2025 performance compared to the minimum, target and maximum goals for Compensable Enterprise Operating Income and Compensable Enterprise Revenue. For each metric, performance below the minimum threshold against the goal results in no payout, target performance results in a 1.00x payout,