Company: BBY
Filing Date: 2025-05-01
Form Type: DEF 14A
Source: 0001140361-25-016935
Chunk: 69

Company: BEST BUY CO INC
Filing Date: 2025-05-01
Form: DEF 14A
Chunk 69
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, 2021, which vested on March 20, 2024; 1,830 shares that were granted on March 20, 2022, which vested on March 20, 2024; and 3,360 shares that were granted on March 20, 2023, which vested on March 20, 2024. |

| (9) | The amount represents the vesting of restricted shares granted under our LTI program: 9,677 shares that were granted on March 20, 2021, which vested on March 20, 2024; 2,740 shares that were granted on March 20, 2022, which vested on March 20, 2024; and 3,360 shares that were granted on March 20, 2023, which vested on March 20, 2024. |

| (10) | On August 30, 2024, Ms. Scarlett exercised 13,060 stock options having a strike price of $69.11 and 27,109 stock options having a strike price of $57.60 when the market price of a share of Best Buy common stock was $99.579 and $99.6064, respectively. |

| (11) | The amount represents the vesting of restricted shares granted under our LTI program: 2,560 shares that were granted on March 20, 2021, which vested on March 20, 2024; 3,297 shares that were granted on March 20, 2022, which vested on March 20, 2024; and 5,465 shares that were granted on March 20, 2023, which vested on March 20, 2024. |

| 72 |     | 2025 Proxy Statement |

TABLE OF CONTENTS ____________________________ Executive and Director Compensation

Nonqualified Deferred Compensation Deferred Compensation Plan The Best Buy Sixth Amended and Restated Deferred Compensation Plan (“Deferred Compensation Plan”) is unfunded and unsecured. We believe the plan provides a tax-deferred retirement savings vehicle that plays an important role in attracting and retaining executive talent. The Deferred Compensation Plan allows highly compensated employees, including the NEOs, to defer:

| • | Up to 75% of base salary; and |

| • | Up to 100% of a cash bonus (earned and paid in the same year) and short-term incentive compensation (earned and paid in different years), as applicable.