Company: BBY
Filing Date: 2025-05-01
Form Type: DEF 14A
Source: 0001140361-25-016935
Chunk: 85

Company: BEST BUY CO INC
Filing Date: 2025-05-01
Form: DEF 14A
Chunk 85
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 be granted, and the type, amount and other terms and conditions of each award, consistent with the provisions of the 2020 Plan. The Compensation Committee may amend the terms of, or accelerate the exercisability of, an outstanding award, except in certain change in control and other scenarios. The Compensation Committee has authority to interpret the 2020 Plan and establish rules and regulations for the administration of the 2020 Plan. The Compensation Committee may delegate its powers under the 2020 Plan to one or more officers or directors, subject to the requirements of applicable law and exchange requirements. However, such delegated officers or directors will not be permitted to grant awards to any members of the Board or executive officers who are subject to Section 16 of the Exchange Act. Eligible Participants Any employee, officer, non-employee director, consultant, independent contractor or advisor providing services to our Company or its affiliates selected by the Compensation Committee is eligible to receive an award under the 2020 Plan. As of the date of this Proxy Statement, approximately 2,350 employees and officers, plus our ten (10) non-employee directors, would be eligible to be selected by the Compensation Committee to receive incentive awards under the 2020 Plan. Types of Awards and Terms and Conditions The 2020 Plan permits the granting of:

| • | stock options, including both incentive stock options (“ISOs”) and non-qualified stock options (together with ISOs, “options”); |

| • | SARs; |

| • | restricted stock and RSUs (including PSUs); |

| • | dividend equivalents; and |

| • | other stock-based awards. |

Awards may be granted alone, in addition to, in combination with or in substitution for any other award granted under the 2020 Plan or any other compensation plan. Awards may be granted for no cash consideration or for such minimal cash consideration as might be required by applicable law, and may provide that upon the grant or exercise thereof, the holder will receive cash, shares of common stock or other securities, awards or property, or any combination of these. The exercise price per share under any stock option, the grant price of any SAR and the purchase price of any security that may be purchased under any other stock-based award may not be less than the fair market value on the date of grant of such option, SAR or award. Determinations of fair market value under the 2020 Plan are made in accordance with methods and procedures established by the Compensation Committee, but the fair market