Company: BBY
Filing Date: 2025-05-01
Form Type: DEF 14A
Source: 0001140361-25-016935
Chunk: 57

Company: BEST BUY CO INC
Filing Date: 2025-05-01
Form: DEF 14A
Chunk 57
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’s ownership target is six times her annual salary, and for other NEOs, the ownership target is three times their annual salary. The stock ownership expectation generally remains effective for as long as the officer holds the position. In addition to shares personally owned by each officer, the following forms of stock ownership count toward the ownership target:

| • | Equivalent shares owned in the Best Buy Stock Fund within our Retirement Savings Plan; and |

| • | 100% of non-vested shares (net of taxes) subject to time-based conditions granted under our LTI program. |

Unvested and unearned performance awards as well as the value of unexercised stock options are excluded from the definition of owned shares when determining ownership levels. We require that until the ownership target is met, NEOs retain at least 50% of their overall holdings. The ownership target does not need to be met within a certain time frame, and our NEOs are considered in compliance with the guidelines as long as progress towards the ownership target is being made consistent with the expectations noted above.

| 2025 Proxy Statement |     | 63 |

TABLE OF CONTENTS Executive and Director Compensation ____________________________

In fiscal 2025, all NEOs were in compliance with the ownership guidelines and had met the target ownership level. The ownership targets and ownership levels as of the end of fiscal 2025 for our NEOs are shown below.

| Name         |     | Ownership Target as of 
   Fiscal 2025 Year-End 
            (in shares) |     | Ownership as of Fiscal 2025 
   Year-End Using Guidelines 
                 (in shares) |
| Ms. Barry    |     |                 90,846 |     |                     308,569 |
| Mr. Bilunas  |     |                 32,669 |     |                      77,707 |
| Mr. Bonfig   |     |                 27,952 |     |                      54,428 |
| Mr. Harmon   |     |                 27,952 |     |                      41,167 |
| Ms. Scarlett |     |                 32,320 |     |                      66,010 |

Clawback and Restrictive Covenant Provisions All STI and LTI awards (both time-based and performance-based) granted to our NEOs are subject to our Clawback Policy. The triggers for potential recoupment of such awards under this policy include breach of the restrictive covenants in our long-term incentive award agreements,