Company: ORLY
Filing Date: 2025-06-25
Form Type: 11-K
Source: 0000898173-25-000037
Chunk: 4

Company: O REILLY AUTOMOTIVE INC
Filing Date: 2025-06-25
Form: 11-K
Chunk 4
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 expenses incurred for consultation with third-party investment advisors and legal counsel for the plan year ended December 31, 2023. All additional administrative and investment related expenses were paid by the Plan participants. Expenses relating to purchases, sales, or transfers of the Plan’s investments are charged to the particular investment fund, to which the expenses relate.

Payment of Benefits

Benefits are recorded when paid.

Use of Estimates

The preparation of financial statements requires management to make certain estimates and assumptions that affect the amounts reported in the financial statements, accompanying notes, and supplemental schedule. Actual results could differ from those estimates.

New Accounting Pronouncements

No recent accounting pronouncements or changes in accounting pronouncements have occurred that are of a material significance, or have potential material significance, to the Plan.

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NOTE 2. DESCRIPTION OF THE PLAN

General

The following description of the Plan is provided for general information only. Participants should refer to the plan agreement for a complete description of the Plan’s provisions.

The Plan is a defined contribution pension plan providing retirement benefits to substantially all U.S. employees of the Company who have attained age 21. The Plan is sponsored by the Company and is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). Please refer to the Plan agreement for complete information.

Trust Services

The trustee function of the Plan is performed by Fidelity Management Trust Company (“Fidelity” or the “Trustee”). As of December 31, 2024 and 2023, the Plan investments were held by the Trustee, in various funds. The Trustee has authority for the purchase and sale of investments and makes payments from the Plan based on participant direction, subject to certain restrictions as specified in the trust agreement, the Plan document, and ERISA.

Contributions

Participants may contribute up to 100% of their annual eligible compensation, as defined in the Plan document, to the Plan up to $23.0 thousand and $22.5 thousand for the year ended December 31, 2024 and 2023, respectively. Participants 50 years of age or older may contribute up to $30.5 thousand and $30 thousand of their annual eligible compensation, as defined in the Plan document, to the Plan for the year ended December 31, 2024 and 2023, respectively. Eligible team members are automatically enrolled in the Plan at a contribution rate of 2% of their annual eligible compensation. Eligible team members may