Company: KMX
Filing Date: 2025-04-11
Form Type: 10-K
Source: 0001170010-25-000024
Chunk: 135

Company: CARMAX INC
Filing Date: 2025-04-11
Form: 10-K
Item: Item 8
Chunk 135
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.1 1.7Total$54.7 1.8 We recognize compensation expense for stock options, MSUs, PSUs, DSUs and RSAs on a straight-line basis (net of estimated forfeitures) over the requisite service period, which is generally the vesting period of the award.  The PSU expense is adjusted for any change in management’s assessment of the performance target level that is probable of being achieved.  The variable expense associated with RSUs is recognized over their vesting period (net of estimated forfeitures) and is calculated based on the closing price of our common stock on the last trading day of each reporting period. The total costs for matching contributions for our employee stock purchase plan are included in share-based compensation expense.  There were no capitalized share-based compensation costs as of or for the years ended February 28, 2025, February 29, 2024 or February 28, 2023.Stock Option Activity   Weighted   WeightedAverage   AverageRemainingAggregate Number ofExerciseContractualIntrinsic(Shares and intrinsic value in thousands)SharesPriceLife (Years)ValueOutstanding as of February 29, 20247,393 $82.03   Options granted1,234 67.29   Options exercised(1,154)63.90   Options forfeited or expired(164)86.08   Outstanding as of February 28, 20257,309 $82.32 3.6$59,539 Exercisable as of February 28, 20254,333 $85.85 2.5$27,878 

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Stock Option InformationYears Ended February 28 or 29202520242023Options granted1,234,215 1,554,029 1,301,862 Weighted average grant date fair value per share$29.21 $29.11 $33.24 Cash received from options exercised (in millions)$73.7 $44.8 $17.1 Intrinsic value of options exercised (in millions)$19.9 $15.0 $7.3 Realized tax benefits (in millions)$3.0 $3.6 $1.8 For stock options, the fair value of each award is estimated as of the date of grant using a binomial valuation model.  In computing the value of the option