Company: KMX
Filing Date: 2025-05-08
Form Type: DEF 14A
Source: 0001170010-25-000073
Chunk: 13

Company: CARMAX INC
Filing Date: 2025-05-08
Form: DEF 14A
Chunk 13
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” link at investors.carmax.com. The Audit Committee is responsible for overseeing the Company’s policy and reviewing any related person transaction that is required to be disclosed pursuant to SEC rules. |

#### 18
In reviewing related person transactions, the Audit Committee considers, among other things:

• the related person’s relationship to CarMax;

• the facts and circumstances of the proposed transaction;

• the aggregate dollar amount involved in the transaction;

• the related person’s interest in the transaction, including his or her position or relationship with, or ownership in, an entity that is a party to, or has an interest in, the transaction; and

• the benefits to CarMax of the proposed transaction and, if applicable, the terms and availability of comparable products and services from unrelated third parties.

The Audit Committee will approve or ratify a related person transaction only if it determines that: (i) the transaction serves the best interests of CarMax and its shareholders; or (ii) the transaction is on terms reasonably comparable to those that could be obtained in arm’s length dealings with an unrelated third party.

We did not have any related person transactions in fiscal 2025.

#### Shareholder Outreach and Engagement
We believe that strong corporate governance should include engagement with our shareholders to enable us to understand and respond to shareholder concerns. Our senior management team, including our CEO, CFO, and members of our Investor Relations team, maintain regular contact with a broad base of investors, including through quarterly earnings calls, individual meetings, and other channels for communication, to understand their perspectives.

In addition, we have a proactive shareholder outreach program where we periodically engage with our shareholders and cover topics important to them, including our unique CarMax culture; board refreshment, director qualifications; cybersecurity; and executive compensation, among other topics. Our shareholder outreach program is led by a cross-functional team that includes members of our senior management team, Investor Relations, and Legal functions. Members of our Board are also involved, as appropriate.

In the past several years, several enhancements to our policies and practices have been informed by shareholder feedback. For example:

• Our Compensation and Personnel Committee implemented meaningful changes to the structure of our executive compensation program in fiscal 2025 as further described in the Compensation Discussion and Analysis section.

• Our Board of Directors established a Technology and Innovation Committee in 2021.

• We announced our commitment to achieving net zero GHG emissions by the end of 2050 and a 50% reduction in GHG emissions by the end of 2025, compared with a