Company: BBY
Filing Date: 2025-05-01
Form Type: DEF 14A
Source: 0001140361-25-016935
Chunk: 64

Company: BEST BUY CO INC
Filing Date: 2025-05-01
Form: DEF 14A
Chunk 64
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7. Pursuant to the award agreement, total shareholder return, with respect to any one company, is the price appreciation of the average closing price of one share of common stock as measured during the first fiscal quarter of the performance period and during the first fiscal quarter following completion of the performance period. The NEO is also entitled to an accrual of dividend equivalents, equal to the cash amount that would have been payable on the number of performance shares held by them as of the close of business on the record date for each declared divided, which shall be credited to them as the equivalent amount of shares that could have been purchased as of the close of business on the dividend payment date. The accrued dividend equivalents will be payable when the performance shares on which such dividend equivalents were credited have become earned, vested and payable. |

| (4) | The amount reflects time-based restricted shares, as discussed under the sectionCompensation Discussion and Analysis — Executive Compensation Elements — Long-Term Incentive, which will vest in three equal installments of one-third on each of the first three anniversaries of the grant date, provided the NEO has been continually employed with us through those dates. The NEO is also entitled to an accrual of dividend equivalents, equal to the cash amount that would have been payable on the number of restricted shares held by them as of the close of business on the record date for each declared divided, which shall be credited to them as the equivalent amount of shares that could have been purchased as of the close of business on the dividend payment date. The accrued dividend equivalents will be payable when the restricted shares on which such dividend equivalents were credited have become earned, vested and payable. |

| 68 |     | 2025 Proxy Statement |

TABLE OF CONTENTS ____________________________ Executive and Director Compensation

Outstanding Equity Awards at Fiscal Year-End The following table provides a summary of the NEO’s equity-based awards outstanding as of the end of fiscal 2025:

| Name            
 Number of       
 Securities      
 Underlying      
 Unexercised     
 Options         
 Exercisable     
 (#)             |     |         Grant 
       Date(1) 
     Number of 
    Securities 
    Underlying 
   Unexercised 
       Options 
 Unexercisable 
           (#) |     | Option Awards 
 Option        
 Exercise      
 Price         
 ($)           |     |     Option 
 Expiration 
       Date |     | Number of  
 Shares or  
 Units of   
 Stock That 
 Have Not   
 Vested     
 (#)        |     |