Company: BBY
Filing Date: 2025-05-01
Form Type: DEF 14A
Source: 0001140361-25-016935
Chunk: 54

Company: BEST BUY CO INC
Filing Date: 2025-05-01
Form: DEF 14A
Chunk 54
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 150%                 |

The number of performance shares earned are interpolated on a linear basis for performance between Threshold and Target and between Target and Maximum. Determination of Fiscal 2025 LTI Target Award Values. In March 2024, the Compensation Committee approved the executive team’s fiscal 2025 compensation, which included increased target award values for Ms. Barry and Messrs. Bilunas, Harmon and Bonfig to reflect market adjustments. LTI award amounts are determined based upon analysis of external market data with overall compensation mix and external market data for equivalent roles being key factors in the determination of the award made to each NEO. The fiscal 2025 LTI awards for each NEO are set forth below.

| Name         |     |  Fiscal 2024 
 Target Grant 
   Date Value |     |  Fiscal 2025 
 Target Grant 
   Date Value |
| Ms. Barry    |     |  $11,000,000 |     |  $12,500,000 |
| Mr. Bilunas  |     |    3,000,000 |     |    3,350,000 |
| Mr. Bonfig   |     |    1,500,000 |     |    2,000,000 |
| Mr. Harmon   |     |    1,500,000 |     |    1,750,000 |
| Ms. Scarlett |     |    2,500,000 |     |    2,500,000 |

| 2025 Proxy Statement |     | 61 |

TABLE OF CONTENTS Executive and Director Compensation ____________________________

| Name         |     | No. of Time- Based 
         Restricted 
             Shares |     | Target No. of Shares 
    under Performance 
          Share Award |     | Annual Grant: 
  Target Grant 
 Date Value(1) |
| Ms. Barry    |     |             79,527 |     |               74,186 |     |   $12,500,000 |
| Mr. Bilunas  |     |             21,314 |     |               19,882 |     |     3,350,000 |
| Mr. Bonfig   |     |             12,725 |     |               11,870 |     |     2,000,000 |
| Mr. Harmon   |     |             11,134 |     |               10,386 |     |     1,750,000 |
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