Company: KMX
Filing Date: 2025-12-23
Form Type: 10-Q
Source: 0001170010-25-000131
Chunk: 2

Company: CARMAX INC
Filing Date: 2025-12-23
Form: 10-Q
Item: Item 4
Chunk 2
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-term success.  In November 2025, we announced that on December 1, 2025, Bill Nash was stepping down from his position as CEO and that David McCreight would serve as our Interim President and CEO.  Our business could be adversely affected if we fail to successfully execute our succession plan or if our succession plan is not well-received by our employees, investors and other stakeholders.  In addition, our ability to execute our business strategies and retain key executives may be adversely affected by the transition and this could have a material adverse effect on our business, sales and results of operations.

Item 2.    Unregistered Sales of Equity Securities and Use of Proceeds

In April 2022, the board authorized the repurchase of up to $2 billion of our common stock with no expiration date.  Purchases may be made in open market transactions, including through Rule 10b5-1 plans, or privately negotiated transactions at management’s discretion and the timing and amount of repurchases are determined based on stock price, market conditions, legal requirements and other factors.  Shares repurchased are deemed authorized but unissued shares of common stock.

The following table provides information relating to the company’s repurchase of common stock for the third quarter of fiscal 2026.  The table does not include transactions related to employee equity awards or exercise of employee stock options.

ApproximateDollar ValueTotal Numberof Shares thatTotal NumberAverageof Shares PurchasedMay Yet Beof SharesPrice Paidas Part of PubliclyPurchased UnderPeriodPurchasedper ShareAnnounced Programthe ProgramSeptember 1 - 30, 20251,233,235 $54.97 1,233,235 $1,489,266,226 October 1 - 31, 20251,610,000 $44.18 1,610,000 $1,418,132,092 November 1 - 30, 20251,770,000 $35.42 1,770,000 $1,355,433,756 Total4,613,235 4,613,235 

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