Best Buy founder foundation to sell 300K shares

Richard M. Schulze’s affiliated entities file to sell 300,000 Best Buy (BBY) shares under Rule 144, alongside significant recent share sales reported over the prior three months.

Available on EDGAR 09/16/2026 - 04:37 PM EDT Accepted by SEC EDGAR 09/16/2026 - 04:37 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

BEST BUY CO INC (BBY) is the issuer for a planned resale of its common stock under Rule 144 by the Richard M Schulze Family Foundation, relating to 300,000 shares of common stock. The filing lists Richard M. Schulze as a 10% stockholder and Director Emeritus, with Piper Sandler & Co. named as broker.

The 300,000 shares are reported as founder shares acquired on April 18, 1985, with an aggregate market value of $27,972,000, and the outstanding common shares are listed as 209,727,698 as of September 16, 2026; this is a baseline figure, not the amount being offered. The notice also reports recent sales from the Richard M Schulze Revocable Trust over the prior three months.

Key Figures

Planned shares to be sold: 300,000 shares Aggregate market value of planned sale: $27,972,000.00 Shares outstanding: 209,727,698 shares +5 more

8 metrics

Planned shares to be sold 300,000 shares Common stock to be sold under Rule 144 for Richard M Schulze Family Foundation

Aggregate market value of planned sale $27,972,000.00 Value of 300,000 Best Buy shares covered by the notice

Shares outstanding 209,727,698 shares Best Buy common shares outstanding as of September 16, 2026

Sale on June 25, 2026 193,896 shares for $15,149,501.66 Common stock sold by Richard M Schulze Revocable Trust

Sale on June 16, 2026 5,100 shares for $397,806.00 Common stock sold by Richard M Schulze Revocable Trust

Sale on July 13, 2026 600,000 shares for $49,329,720.00 Common stock sold by Richard M Schulze Revocable Trust

Sale on July 14, 2026 300,000 shares for $24,663,270.00 Common stock sold by Richard M Schulze Revocable Trust

Date of Notice September 16, 2026 Date the Rule 144 notice was filed

Key Terms

Rule 144, Founders Shares, Revocable Tr, attorney-in-fact

4 terms

Rule 144 regulatory

"See the definition of "person" in paragraph (a) of Rule 144."

Rule 144 is a U.S. securities regulation that sets conditions under which restricted or insider-held shares can be legally resold to the public, such as required holding periods, availability of public information, limits on how much can be sold at once, and certain filing requirements. For investors it matters because it determines when previously locked-up shares can enter the market — like a release valve that can increase supply, affect share price, and signal insider intent.

Founders Shares financial

"Common Stock | 04/18/1985 | Founders Shares | Issuer"

Founders shares are a special block of a company’s stock originally given to the people who started the business; they often carry extra voting power or favorable terms compared with regular shares. For investors, these shares matter because they concentrate control and influence how future funding, ownership dilution, and decision-making will play out—think of founders shares as the steering wheel that can steer a company’s direction even as more passengers (investors) climb aboard.

Revocable Tr financial

"Richard M Schulze Revocable Tr C/O Best Buy Inc 7601 Penn Ave S"

attorney-in-fact regulatory

"as attorney-in-fact Richard M Schulze Rev Tr ATTENTION:"

An attorney-in-fact is the person or entity given legal authority through a power of attorney to act on behalf of another for specific tasks, such as signing documents, voting shares, or handling transactions. For investors, this matters because it lets a trusted representative make timely decisions or complete paperwork when the owner cannot, much like handing keys to someone to run errands on your behalf—so checks on scope and limits of that authority are important.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does the Form 144 filing disclose for BEST BUY CO INC (BBY)?

It discloses a planned resale of 300,000 shares of Best Buy common stock under Rule 144 for the account of the Richard M Schulze Family Foundation, with Piper Sandler & Co. as broker and Richard M. Schulze identified as a 10% stockholder and Director Emeritus.

How many BBY shares are planned to be sold and what is their value?

The notice covers a proposed sale of 300,000 shares of Best Buy common stock, described as founder shares, with an aggregate market value of $27,972,000 based on the price information provided in the filing.

How many Best Buy (BBY) shares are reported as outstanding in this filing?

The filing reports that 209,727,698 shares of Best Buy common stock were outstanding as of September 16, 2026. This is presented as the total shares outstanding, not the amount being sold under this notice.

What recent BBY share sales by Richard M. Schulze’s trust are reported?

The Richard M Schulze Revocable Trust reported sales of Best Buy common stock of 193,896 shares for $15,149,501.66 on June 25, 2026; 5,100 shares for $397,806.00 on June 16, 2026; 600,000 shares for $49,329,720.00 on July 13, 2026; and 300,000 shares for $24,663,270.00 on July 14, 2026.

Who is making the Form 144 filing related to BBY and on whose behalf?

The notice states it is being made on behalf of the Richard M Schulze Family Foundation. It is signed by Alex Johnson, as a duly authorized representative of Piper Sandler & Co Corporate & Venture Services FA, as attorney-in-fact for the Richard M Schulze Revocable Trust.

What is the significance of Rule 144 in this BBY filing?

Rule 144 provides a safe harbor for the public resale of restricted and control securities. This notice gives the required information for a proposed sale of 300,000 Best Buy shares by an affiliate (a 10% stockholder and Director Emeritus) in compliance with Rule 144 requirements.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK	0001006394
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	BEST BUY CO INC
SEC File Number	001-09595
Address of Issuer	7601 PENN AVE SOUTH RICHFIELD MINNESOTA 55423
Phone	6122911000
Name of Person for Whose Account the Securities are To Be Sold	SCHULZE RICHARD M
See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.
Relationship to Issuer	10% Stockholder
Relationship to Issuer	Director Emeritus

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common Stock	Piper Sandler & Co Inc 350 N 5th St Ste 1000 Minneapolis MN 55401	300000	27972000.00	209727698	09/16/2026	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common Stock	04/18/1985	Founders Shares	Issuer			300000	04/18/1985	NA

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Richard M Schulze Revocable Tr C/O Best Buy Inc 7601 Penn Ave S Richfield MN 55423	Common Stock	06/25/2026	193896	15149501.66
Richard M Schulze Revocable Tr C/O Best Buy Inc 7601 Penn Ave S Richfield MN 55423	Common Stock	06/16/2026	5100	397806.00
Richard M Schulze Revocable Tr C/O Best Buy Inc 7601 Penn Ave S Richfield MN 55423	Common Stock	07/13/2026	600000	49329720.00
Richard M Schulze Revocable Tr C/O Best Buy Inc 7601 Penn Ave S Richfield MN 55423	Common Stock	07/14/2026	300000	24663270.00

144: Remarks and Signature

Remarks	This Form 144 filing is being made on behalf of the Richard M Schulze Family Foundation
Date of Notice	09/16/2026
ATTENTION:
The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.
Signature	Alex Johnson, as a duly authorized representative of Piper Sandler & Co Corporate & Venture Services FA, as attorney-in-fact Richard M Schulze Rev Tr
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)