Company: KMX
Filing Date: 2025-05-08
Form Type: DEF 14A
Source: 0001170010-25-000073
Chunk: 32

Company: CARMAX INC
Filing Date: 2025-05-08
Form: DEF 14A
Chunk 32
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-tax income the impact of any unrealized gains or losses on equity investments in private companies (or companies in which CarMax initially invested while that company was private but had subsequently gone public) as well as other significant non-cash gains or losses that are non-recurring in nature; however, the Committee determined to include in pre-tax income the realized gains and losses in those investments to the extent that such gains or losses were realized in fiscal 2025. For fiscal 2025, the actual adjusted pre-tax income of $687 million represents $669 million in earnings before income taxes increased by approximately $12 million for a non-cash Edmunds lease impairment, $4 million attributable to unrealized gains/losses on equity investments, and $1 million for cumulative gains on equity investments.

Year three of the fiscal 2023 PSU awards and year two of the fiscal 2024 PSU awards was multiplied by 159% given the Company’s pre-tax income performance.

The final payout multiplier for the fiscal 2023 PSUs, taking into account performance for all three years, was 67% (4% for year one; 38% for year two; and 159% for year three).

#### ADDITIONAL ELEMENTS OF COMPENSATION
We provide our executive officers the benefits available to CarMax associates generally. We also provide the limited perquisites described below. These benefits and perquisites are intended to be part of a competitive compensation package.

#### Benefits Available to CarMax Associates Generally
Our executives and our full-time associates generally are eligible for health insurance coverage, life insurance, short- and long-term disability insurance, matching gifts to qualified charitable organizations, and a defined contribution, or 401(k), plan that we refer to as our Retirement Savings Plan.

In addition, executives and CarMax associates who satisfied certain criteria as of December 31, 2008, may be eligible for benefits under our frozen Pension Plan. Additional details regarding these frozen benefits can be found in the “Pension Benefits in Fiscal 2025” table.

#### Non-Qualified Retirement Plans
Our executives and other highly-compensated associates are eligible to participate in two non-qualified retirement plans: the Retirement Restoration Plan (“RRP”) and the Executive Deferred Compensation Plan (“EDCP”). A description of these plans can be found in the narrative discussion following the “Nonqualified Deferred Compensation” table. Details regarding the fiscal 2025 contributions to each named executive officer’s RRP and EDCP accounts, as well as the earnings and aggregate balances for those