# EDGAR Filing Document

**Accession Number:** 0000764478
**File Stem:** 0000947871-25-000600
**Filing Date:** 2025-6
**Character Count:** 17610
**Document Hash:** 17ffea1fcdc89577af1995caecd4ee31
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000947871-25-000600.hdr.sgml**: 20250611

**ACCESSION NUMBER**: 0000947871-25-000600

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20250611

**DATE AS OF CHANGE**: 20250611

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BEST BUY CO INC
- **CENTRAL INDEX KEY:** 0000764478
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-RADIO TV & CONSUMER ELECTRONICS STORES [5731]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 410907483
- **STATE OF INCORPORATION:** MN
- **FISCAL YEAR END:** 0131

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-38156
- **FILM NUMBER:** 251040124

**BUSINESS ADDRESS:**
- **STREET 1:** 7601 PENN AVE SOUTH
- **CITY:** RICHFIELD
- **STATE:** MN
- **ZIP:** 55423
- **BUSINESS PHONE:** 6122911000

**MAIL ADDRESS:**
- **STREET 1:** 7601 PENN AVE SOUTH
- **CITY:** RICHFIELD
- **STATE:** MN
- **ZIP:** 55423

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BEST BUYS CO INC
- **DATE OF NAME CHANGE:** 19900809
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SCHULZE RICHARD M
- **CENTRAL INDEX KEY:** 0001006394

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**MAIL ADDRESS:**
- **STREET 1:** BEST BUY CO INC
- **STREET 2:** 7075 FLYING CLOUD DRIVE
- **CITY:** EDEN PRAIRIE
- **STATE:** MN
- **ZIP:** 55344

## Ex-99.A

**EXHIBIT A**

**JOINT FILING AGREEMENT**

The undersigned hereby agree that the statement on the amendment to Schedule 13D, dated June <u>11</u>, 2025 (the "<u>Schedule 13D</u>"), with respect to the common stock, par value $0.10 per share, of Best Buy Co., Inc. is, and any amendments thereto executed by each of us shall be, filed on behalf of each of us pursuant to and in accordance with the provisions of Rule 13d-1(k)(1) under the Securities and Exchange Act of 1934, as amended, and that this Agreement shall be included as an exhibit to the Schedule 13D and each such amendment. Each of the undersigned agrees to be responsible for the timely filing of the Schedule 13D and any amendments thereto, and for the completeness and accuracy of the information concerning itself contained therein. This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument.

DATED: June <u>11</u>, 2025

---

| |
|:---|
| &nbsp;&nbsp;By: /s/ Richard M. Schulze |
| &nbsp;&nbsp;RICHARD M. SCHULZE |
| &nbsp;&nbsp;OLYMPUS INVESTMENTS LIMITED |
| &nbsp;&nbsp;PARTNERSHIP B |
| &nbsp;&nbsp;By: /s/ Richard M. Schulze |
| &nbsp;&nbsp;RICHARD M. SCHULZE |
| &nbsp;&nbsp;THE RICHARD M. SCHULZE FAMILY FOUNDATION |
| &nbsp;&nbsp;By: /s/ Richard M. Schulze |
| &nbsp;&nbsp;RICHARD M. SCHULZE |

---

[Signature Page to Schedule 13D/A (Amendment No. 14)]

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 14)**

**BEST BUY CO INC**

*(Name of Issuer)*

**Common Stock, par value $0.10 per share**

*(Title of Class of Securities)*

**086516101**

*(CUSIP Number)*

**Allen Overy Shearman Sterling**<br>599 Lexington Avenue<br>New York NY 10022<br>(212) 848-4000

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**06/09/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **086516101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**SCHULZE RICHARD M** | Name of reporting person<br>**SCHULZE RICHARD M** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**14213848.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**899003.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**14213848.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**899003.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**15112851.00** | Aggregate amount beneficially owned by each reporting person<br>**15112851.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**7.2%** | Percent of class represented by amount in Row (11)<br>**7.2%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

| **CUSIP No.** | **086516101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Olympus Investments Limited Partnership B** | Name of reporting person<br>**Olympus Investments Limited Partnership B** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**702903.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**702903.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**702903.00** | Aggregate amount beneficially owned by each reporting person<br>**702903.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.3%** | Percent of class represented by amount in Row (11)<br>**0.3%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

| **CUSIP No.** | **086516101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**The Richard M. Schulze Family Foundation** | Name of reporting person<br>**The Richard M. Schulze Family Foundation** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**MINNESOTA** | Citizenship or place of organization<br>**MINNESOTA** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**196100.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**196100.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**196100.00** | Aggregate amount beneficially owned by each reporting person<br>**196100.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.1%** | Percent of class represented by amount in Row (11)<br>**0.1%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common Stock, par value $0.10 per share

**(b) Name of Issuer:**
BEST BUY CO INC

**(c) Address of Issuer's Principal Executive Offices:**
7601 Penn Avenue, South Richfield, MN, 55423

This Amendment No. 14 to the Schedule 13D (this "Amendment No. 14") hereby amends the Schedule 13D filed with the Securities and Exchange Commission (the "SEC") on January 15, 1996 (the "Initial Schedule"), as amended and supplemented by Amendment No. 1 filed on June 7, 2012, Amendment No. 2 filed on August 6, 2012, Amendment No. 3 filed on August 16, 2012, Amendment No. 4 filed on August 20, 2012, Amendment No. 5 filed on August 20, 2012, Amendment No. 6 filed on August 27, 2012, Amendment No. 7 filed on December 14, 2012, Amendment No. 8 filed on March 1, 2013, Amendment No. 9 filed on March 25, 2013, Amendment No. 10 filed on October 23, 2013, Amendment No.11 filed on September 30, 2015, Amendment No. 12 filed on January 20, 2023, and Amendment No. 13 filed on June 5, 2024 (the "Amendments", together with the Initial Schedule, the "Schedule 13D") on behalf of the Reporting Persons. Capitalized terms used but not defined herein shall have the meanings attributed to them in the Schedule 13D. All items or responses not described herein remain as previously reported in the Schedule 13D.

**Item 4. Purpose of Transaction**

Item 4 is hereby amended and supplemented to add the following:

On June 9, 2025, the Family Foundation and Mr. Schulze sold Shares into the open market. The Shares were sold as part of Mr. Schulze's personal long-term strategy for asset diversification and liquidity.

Effective April 7, 2025, Mr. Schulze adopted a pre-arranged trading plan to sell Shares owned by the Reporting Persons in the open market (the "April 2025 Plan").  The Shares to be sold pursuant to the April 2025 Plan are part of Mr. Schulze's personal estate planning. The Shares to be sold are subject to the provisions of the April 2025 Plan until the April 2025 Plan expires, which is expected to occur in May 2026.

**Item 5. Interest in Securities of the Issuer**

**(a)**
Item 5 is hereby amended as follows:

The first two paragraphs of Item 5(a) are hereby amended and restated as follows:

(a)  The percentages used herein are calculated based upon 211,346,694 Shares outstanding as of June 4, 2025, as reported by the Company in its most recent Form 10-Q filed with the SEC on June 6, 2025.

As of the date of this Amendment No. 14, the Reporting Persons beneficially owned in the aggregate 15,112,851 Shares, constituting approximately 7.2% of the outstanding Shares. As of the date of this Amendment No. 14, the Reporting Persons may be deemed to have direct beneficial ownership of the Shares as follows:

Item 5(a)(i) is hereby amended and restated in its entirety as follows:

(i)  Mr. Schulze, individually and as trustee to the various trusts listed in Item 2(i), beneficially owns 15,112,851 Shares, constituting approximately 7.2% of the outstanding Shares. Mr. Schulze disclaims beneficial ownership of such Shares for all other purposes. This figure excludes (a) 7,000,716 Shares held personally by his spouse and in trusts for the benefit of Mr. Schulze's spouse, Mr. Schulze's children and grandchildren, and the children of Mr. Schulze's spouse, and (b) 172,831 Richard M Schulze Qualified Terminable Interest Property Marital Trust, in each case as to which Mr. Schulze disclaims beneficial ownership.

Item 5(a)(iii) is hereby amended and restated in its entirety as follows:

(iii)  Olympus B may be deemed to own beneficially (as that term is defined in Rule 13-d under the Securities Exchange Act of 1934) 702,903 Shares, constituting approximately 0.3% of the outstanding Shares. Olympus B disclaims beneficial ownership of such Shares for all other purposes.

Item 5(a)(v) is hereby amended and restated in its entirety as follows:

(v)  The Family Foundation may be deemed to own beneficially (as that term is defined in Rule 13-d under the Securities Exchange Act of 1934) 196,100 Shares, constituting approximately 0.1% of the outstanding Shares. The Family Foundation disclaims beneficial ownership of such Shares for all other purposes.

**(b)**
Item 5(b) is hereby amended and restated in its entirety as follows:

(b)  Mr. Schulze has the sole power to vote or direct the vote of and to dispose of or direct the disposition of 14,213,8848 Shares. Mr. Schulze has shared power to vote or direct the vote of and to dispose of or direct the disposition of 899,003 Shares. Olympus B may be deemed to share with Mr. Schulze the power to vote or direct the vote of and to dispose of or direct the disposition of 702,903 Shares. The Family Foundation may be deemed to share with Mr. Schulze the power to vote or direct the vote of and to dispose of or direct the disposition of 196,100 Shares.

**(c)**
Item 5(c) is hereby amended and restated in its entirety as follows:

(c)  Mr. Schulze made the following transactions in the Shares that were effected during the past sixty days.

------------------- ----------------- ------------------ ----------------- ----------------- ------------------------------
 Identity            Transaction        Date               Number of          Price Per        Where and How
                          Type                                           Shares                Shares           the Transaction
                                                                                                                               Was Effected
 ------------------- ----------------- ------------------ ----------------- ----------------- ------------------------------
 The Family          Sale              June 9, 2025       (200,000)         72.95 1           Open Market
 Foundation
 ------------------- ----------------- ------------------ ----------------- ----------------- ------------------------------
 Richard M.          Sale              June 9, 2025       (529,201)         72.95 2           Open Market
 Schulze
------------------- ----------------- ------------------ ----------------- ----------------- -------------------------------

1.    The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $72.75 to $73.42, inclusive. The reporting person undertakes to provide to the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.

2.   The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $72.75 to $73.42, inclusive. The reporting person undertakes to provide to the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

Item 6 is hereby amended and supplemented to add the following:

Effective April 7, 2025, Mr. Schulze adopted the April 2025 Plan, a discussion of which is contained in Item 4 hereof and is incorporated into this Item 6 by reference.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** SCHULZE RICHARD M

**Signature:** /s/ Richard M. Schulze

**Name/Title:** RICHARD M. SCHULZE

**Date:** 06/11/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Olympus Investments Limited Partnership B

**Signature:** /s/ Richard M. Schulze

**Name/Title:** RICHARD M. SCHULZE

**Date:** 06/11/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** The Richard M. Schulze Family Foundation

**Signature:** /s/ Richard M. Schulze

**Name/Title:** RICHARD M. SCHULZE

**Date:** 06/11/2025