Company: BBY
Filing Date: 2025-05-01
Form Type: DEF 14A
Source: 0001140361-25-016935
Chunk: 43

Company: BEST BUY CO INC
Filing Date: 2025-05-01
Form: DEF 14A
Chunk 43
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 |     | Principal Position                                                                    |
| Corie Barry   |     | Chief Executive Officer                                                               |
| Matt Bilunas  |     | Senior Executive Vice President, Chief Financial Officer & Enterprise Strategy        |
| Jason Bonfig  |     | Senior Executive Vice President, Customer Offering, Fulfillment & Best Buy Canada     |
| Damien Harmon |     | Senior Executive Vice President, Channel & Customer Experiences & Enterprise Services |
| Kamy Scarlett |     | Senior Executive Vice President, Corporate Affairs & Human Resources                  |

The CD&A section of our proxy statement includes the following:

| CD&A Section                                   |     | What’s included?                                                                                                                                                                                                                 |
| Executive Summary                              |     | Highlights of our executive compensation program, including our shareholder engagement process and Compensation Committee consideration of “Say on Pay” votes, and a summary of our fiscal 2025 executive compensation decisions |
| Compensation Philosophy, Objectives & Policies |     | Overview of the philosophy, objectives & policies utilized by the Compensation Committee in implementing our executive compensation program                                                                                      |
| Governance                                     |     | Summary of the key participants in our executive compensation process and the role each plays in the decision-making                                                                                                             |
| Factors in Decision-Making                     |     | Overview of factors considered by the Compensation Committee in its decision-making process                                                                                                                                      |
| Executive Compensation Elements                |     | Description of each element of our NEO pay mix within our executive compensation program, including specific details regarding decisions made within each element                                                                |

| 52 |     | 2025 Proxy Statement |

TABLE OF CONTENTS ____________________________ Executive and Director Compensation

Executive Summary Our compensation program for fiscal 2025 was designed to support our strategy of being focused on sharpening our customer experiences and industry positioning while optimizing our operating income rate. In fiscal 2025, we continued to manage our profitability through strong execution despite revenue declines. Following are highlights of our fiscal 2025 enterprise financial results:

| Comparable Sales 
 -2.3%            |     | Diluted EPS 
 $4.28       |     | Adjusted    
 Diluted EPS 
 $6.37*      |

| Revenue 
 $41.5B  |     | Operating   
 Income Rate 
 3.0%        |     | Adjusted Operating 
 Income Rate        
 4.2%*              |

| * | For GAAP to non-GAAP reconciliations, please refer to the schedule entitled Reconciliations of Non-GAAP Financial Measures. |

These fiscal 2025 results were stronger compared to our goals