Company: BBY
Filing Date: 2025-05-01
Form Type: DEF 14A
Source: 0001140361-25-016935
Chunk: 5

Company: BEST BUY CO INC
Filing Date: 2025-05-01
Form: DEF 14A
Chunk 5
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 fiscal 2026 and is submitting its selection of our independent registered public accounting firm for ratification by the shareholders in order to ascertain the view of our shareholders on this selection. The following table summarizes the aggregate fees incurred for services rendered by D&T during fiscal 2025 and fiscal 2024.

| Service Type       |     | Fiscal 2025 |     | Fiscal 2024 |
| Audit Fees         |     |  $3,773,000 |     |  $3,665,000 |
| Audit-Related Fees |     |   1,436,000 |     |     364,000 |
| Tax Fees           |     |     152,000 |     |           0 |
| Other Fees         |     |           0 |     |      11,000 |
| Total Fees         |     |  $5,361,000 |     |  $4,040,000 |

| Additional information can be found inItem of Business No. 2 — Ratification of Appointment of our Independent Registered Public Accounting Firmsection of this proxy statement. |     | Page49 |

Item No. 3 — Advisory Vote to Approve Named Executive Officer Compensation The Board recommends a vote FORapproval of our named executive officer (“NEO”) compensation. Our shareholders have consistently strongly supported our executive compensation program. For the last five years, our average Say-on-Pay vote has been 93.1%. We believe this support reflects our strong pay-for-performance philosophy, our commitment to sound compensation policies and our active engagement and open dialogue with our shareholders. The Compensation and Human Resources Committee regularly takes feedback received from shareholders into consideration when making decisions regarding our executive compensation program. Our executive compensation program contains the following elements:

| Compensation Component |     | Key Characteristics                                                 |     | Purpose                                                                                                                 |
| Base Salary            |     | Cash                                                                |     | Provide competitive, fixed compensation to attract and retain executive talent.                                         |
| Short-Term             
 Incentive              
 “STI”                  |     | Cash award paid based on achievement of various performance metrics |     | Create a strong financial incentive for achieving or exceeding Company performance goals.                               |
| Long-Term              
 Incentive              
 “LTI”                  |     | Time-based restricted shares and performance share awards           |     | Create a strong financial incentive for increasing shareholder value, encourage ownership stake, and promote retention. |

| 2025 Proxy Statement |     | 7 |

TABLE OF CONTENTS Proxy Summary __________________________________

Pay is tied