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

Company: CARMAX INC
Filing Date: 2025-05-08
Form: DEF 14A
Chunk 25
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 |           |     | Fiscal 2025 Base Salary 
 ($)                     |           |     | Percentage Increase in Base Salary 
 (%)                                |   |
| William D. Nash       |     |                         | 1,231,776 |     |                         | 1,231,776 |     |                                    | — |
| Enrique N. Mayor-Mora |     |                         |   753,499 |     |                         |   776,104 |     |                                    | 3 |
| James Lyski           |     |                         |   681,345 |     |                         |   701,785 |     |                                    | 3 |
| Charles Joseph Wilson |     |                         |   643,750 |     |                         |   700,000 |     |                                    | 9 |
| Shamim Mohammad       |     |                         |   607,700 |     |                         |   625,931 |     |                                    | 3 |

#### 30

#### ANNUAL INCENTIVE BONUS
We pay annual incentive bonuses to drive the achievement of CarMax’s financial and strategic goals. The amount of the annual incentive bonus depends on our performance as measured against objective performance goals established by the Committee each fiscal year. Bonuses are not guaranteed.

We calculate bonuses using the following formula:

| Base Salary |     | x |     | Target Percentage of 
 Base Salary          |     | x |     | Performance Adjustment 
 Factor                 |     | = |     | Annual Incentive Bonus |

Base salaries, which are the first component of this formula, are discussed above. The “target percentage of base salary” is an individual’s incentive bonus target expressed as a percentage of base salary. This percentage differs among our named executive officers depending on their level of responsibility. In January 2024, the Committee, in consultation with Semler Brossy, reviewed target percentages for our executive officers. In March 2024, the Committee decided to increase the target percentage of base salary from the prior fiscal year by 10 percentage points for our named executive officers, with the exception of Mr. Nash.

The last component of the bonus formula – the “performance adjustment factor” – is a percentage representing the Company’s success in meeting the performance goals set by the Committee each fiscal year.

The following narrative describes how the Committee applied this formula in fiscal 2025.

Performance Measures, Related Targets, and Performance Against Targets

The Committee set the performance goals in May 2024, during the first quarter