Company: BBY
Filing Date: 2025-06-24
Form Type: 11-K
Source: 0000764478-25-000029
Chunk: 8

Company: BEST BUY CO INC
Filing Date: 2025-06-24
Form: 11-K
Chunk 8
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 communication to plan participants designed to influence a participant not to invest in the stable value option. |

At this time, the occurrence of any event that would result in a market value adjustment is not probable. 5. Related-Party and Party-in-Interest Transactions Best Buy Co., Inc. s tock f und – Activity related to the common stock of Best Buy was as follows:

| ﻿                                  
 ﻿                                  
 Number of common shares purchased  |     | 2024 |     48,800 |     | 2023 |    53,301 |
|:-----------------------------------|:----|:-----|-----------:|:----|:-----|----------:|
| Cost of common shares purchased    |     | $    |  4,392,981 |     | $    | 3,863,418 |
| Number of common shares sold       |     |      |    140,759 |     |      |    73,726 |
| Market value of common shares sold |     | $    | 12,143,173 |     | $    | 5,551,510 |
| Cost of common shares sold         |     | $    |  6,635,455 |     | $    | 3,385,356 |

Notes r eceivable from p articipants – N otes receivable from participants are secured by the vested balances in the participants’ accounts. 6. Plan Termination Although it has not expressed any intention to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions set forth in ERISA. In the event the Plan was terminated, participants will remain 100% vested in the Company’s contributions. 7. Federal Income Tax Status The Internal Revenue Service ( I RS ) has determined and informed the Company by a letter dated October 15, 2014, that the Plan and related trust were designed in accordance with the applicable regulations of the Code. Although the Plan has been amended since receiving the determination letter, the Plan administrator believe s that the Plan is designed, and is currently being operated in compliance with the applicable requirements of the Code , and, therefore, believe that the Plan is qualified, and the related trust is tax-exempt. GAAP require s P lan management to evaluate tax positions taken by the Plan and recognize a tax liability if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the