Company: KMX
Filing Date: 2025-05-08
Form Type: DEF 14A
Source: 0001170010-25-000073
Chunk: 0

Company: CARMAX INC
Filing Date: 2025-05-08
Form: DEF 14A
Chunk 0
---
### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549
<div align='center'>SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a) of the

Securities Exchange Act of 1934

(Amendment No. __ )</div>

Filed by the Registrant ý Filed by a Party other than the Registrant o

Check the appropriate box:

| o |     | Preliminary Proxy Statement |

| o |     | Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) |

| ý |     | Definitive Proxy Statement |

| o |     | Definitive Additional Materials |

| o |     | Soliciting Material under §240.14a-12 |

| CarMax, Inc.                                     |
| (Name of Registrant as Specified In Its Charter) |

| (Name of Person(s) Filing Proxy Statement, if other than the Registrant) |

Payment of Filing Fee (Check all boxes that apply):

| ý |     | No fee required. |

| o |     | Fee paid previously with preliminary materials. |

| o |     | Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11. |

Dear Fellow CarMax Shareholders:

I am pleased to invite you to attend the 2025 annual meeting of CarMax, Inc. shareholders, which will be held on Tuesday, June 24, 2025. The attached notice of annual shareholders meeting and proxy statement are your guides to the meeting.

In fiscal 2025, we delivered robust year-over-year earnings growth as we drove unit volume increases in sales and buys, materially increased gross profit, grew CarMax Auto Finance income, and realized additional cost efficiencies. We achieved significant progress during fiscal 2025 on our strategic initiatives, including the nationwide rollout of our customer shopping accounts, the addition of new shopping information and tools to our website geared towards electric vehicles, and progress on CarMax Auto Finances’s full-spectrum credit model. Our associates, stores, technology and digital capabilities, all seamlessly tied together, enable us to provide the most customer centric car buying and selling experience. We believe this is a competitive advantage that gives us access to the largest total addressable market in the used car space, providing a strong runway for future growth.

Shareholders will be able to attend