KMX · CarMax, Inc.

Summary

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

• Keith Barr appointed President and CEO effective March 16, 2026
• Board size increased from 9 to 10 directors
• Annual base salary $1,250,000 with 175% target bonus
• Sign-on RSUs and stock options each with $1M grant date fair value
• 2026 annual equity: $3.5M stock options and $3.5M performance RSUs
• Severance: 2x (base + target bonus) paid over 52 biweekly installments