Company: BBY
Filing Date: 2025-05-01
Form Type: DEF 14A
Source: 0001140361-25-016935
Chunk: 75

Company: BEST BUY CO INC
Filing Date: 2025-05-01
Form: DEF 14A
Chunk 75
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 Compensation The fiscal 2025 cash compensation for our non-management directors consisted of the following annual retainers:

| Amount                                                                               |     |    Annual |
| Annual retainer                                                                      |     |  $100,000 |
| Non-executive chair retainer                                                         |     | 65,000(1) |
| Annual committee chair retainer - Audit                                              |     |    25,000 |
| Annual committee chair retainer - Compensation & Human Resources                     |     |    20,000 |
| Annual committee chair retainer - Nominating, Corporate Governance and Public Policy |     |    20,000 |
| Annual committee chair retainer - Finance and Investment Policy                      |     |    20,000 |

| (1) | The Compensation Committee and Board approved an additional $200,000 in compensation for the non-executive chair, approximately one-third of which is in the form of a cash stipend (as reflected here) and two-thirds of which is in the form of equity (as discussed below). |

All annual retainers are paid in arrears in quarterly installments, and annual retainers for non-management directors who serve on the Board or as chair of the Board or a standing committee for only a portion of a fiscal year are prorated. Equity Compensation On June 12, 2024, the Compensation Committee approved an annual equity award for each of the then-serving non-management directors in the form of restricted stock units. The awards each had a value of $195,000, which translated into 2,258 restricted stock units. The Compensation Committee also approved an additional equity award for the non-executive chair having a value of $135,000, which translated into 1,563 restricted stock units. The restricted stock units are entitled to dividend equivalents, which are subject to the same restrictions and vesting criteria as the underlying units. All restricted stock units granted to our directors fully vest one year from the grant date and must be held until the director leaves the Board. Director equity awards are prorated through a director’s termination date if a director leaves the Board before the restricted stock units have vested, unless the director is terminated for Cause, in which case all unvested restricted stock units are forfeited.

| 2025 Proxy Statement |     | 77 |

TABLE OF CONTENTS Executive and Director Compensation ____________________________

Director Compensation Table The following table summarizes the compensation earned during fiscal 2025 by our non-management directors:

| Name(1)                |     | Fees Earn