8-K - CarMax, Inc. | StockGist

AI Analysis

AI-generated analysis. Always verify with the original filing.

CarMax, Inc. appointed Keith Barr as President and Chief Executive Officer and Board member effective March 16, 2026, succeeding interim CEO David W. McCreight. The appointment includes a $1.25M base salary, 175% target bonus, $9M in sign-on and annual equity grants, relocation benefits, and enhanced severance terms.

Key Takeaways

1Keith Barr appointed President and CEO effective March 16, 2026

2Board size increased from 9 to 10 directors

3Annual base salary $1,250,000 with 175% target bonus

4Sign-on RSUs and stock options each with $1M grant date fair value

52026 annual equity: $3.5M stock options and $3.5M performance RSUs

6Severance: 2x (base + target bonus) paid over 52 biweekly installments

Current Report Details

Event Type

Management Change

Regulation Fd

Exhibits Only

Disclosure

Mandatory

Variant

8-K

Items Reported

5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers On February 10

Management Change

$1.3M$1.0M$1.0M$3.5M

7.01

, including Exhibit 99.1, shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act of 1933, as amended, or t

Regulation Fd

9.01

Financial Statements and Exhibits. (d) Exhibits Exhibit No. 10.1 Form of Sign-On Restricted Stock Unit Agreement with Keith Barr 10.2 Form of Sign-On Stock Opti

Exhibits Only

Source Document

Executive & Director Changes

Keith Barr

President and Chief Executive Officer, Director

Appointed

Effective: 2026-03-16

David W. McCreight

Interim CEO

Stepped down

Effective: 2026-03-16

Keith Barr appointment

Exhibits (5)

10.1

EX-10.1

10.2

EX-10.2

10.3

EX-10.3

8-K

99.1

EX-99.1