Company: KMX
Filing Date: 2025-04-11
Form Type: 10-K
Source: 0001170010-25-000024
Chunk: 12

Company: CARMAX INC
Filing Date: 2025-04-11
Form: 10-K
Item: Item 1
Chunk 12
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 equity or equity-based grants through our standard compensation plan, which serve as a meaningful engagement and retention tool.  We believe this evolution in our workforce has been and will continue to be critical to the development of our technology platforms and strategic initiatives.

Our commitment to our associates is reflected in our fair and broad-based compensation packages and benefit programs, our continuous investment in talent acquisition, engagement, and development activities, and our comprehensive safety and security program.  We review pay equity annually based on objective factors such as position, tenure, and location.  If we find discrepancies that cannot be explained by these objective factors, we make appropriate adjustments.  Our commitment is to provide equal pay for comparable work.

We have been recognized for 21 consecutive years as one of Fortune magazine’s 100 Best Companies to Work For®.  This award reflects our ability to provide associates with the tools and environment they need to succeed and grow in their careers.  We have an Associate Experience Team and a cross-functional Associate Experience Advisory Group dedicated to ensuring an inclusive and engaging workplace.  We also continued to measure engagement via biannual associate voice surveys, and across the company, teams created focused plans to continually improve engagement based on survey results.  Our goal is to achieve world-class associate engagement and responding to associate feedback enables us to focus on the issues that matter to our associates.

CarMax’s culture of inclusion is built on a foundation of integrity and respect.  We value the wide range of experiences and perspectives our associates bring to locations across the country.  Our commitment to inclusion is based on a company vision to ensure everyone, everywhere has the opportunity to reach their full potential.

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This commitment extends to every facet of our business interactions, from associates within CarMax to job applicants, customers, vendors, shareholders, and business partners, to ensure everyone is treated fairly and impartially.

Intellectual Property

Our brand image is a critical element of our business strategy.  We rely on trademarks, domain names and copyrights to protect core aspects of CarMax’s look and feel.  Innovation and technology also play an increasingly vital role in all aspects of the business.  We actively pursue appropriate intellectual property protection for our state-of-the-art work by filing patent applications in areas ranging from vehicle reconditioning and digital merchandising to image capture, online shopping innovations and search engine optimization.

Laws and Regulations

Vehicle Dealer and Other Laws and Regulations.  We operate in a highly regulated industry.  In every state in which we operate, we must obtain licenses and permits to