Best Buy (NYSE: BBY) chairman emeritus Schulze sells 500k shares, gifts 700
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Best Buy Co., Inc. insider activity shows Chairman Emeritus Richard M. Schulze, through related entities, selling and gifting shares of common stock. On May 29, 2026, entities for which he serves as trustee of a revocable trust sold a total of 500,350 shares of Best Buy common stock in multiple open-market transactions at weighted average prices around the mid‑$70s per share, with individual trades occurring in ranges disclosed between $74.34 and $78.05.
After these sales, the revocable trust reported holding 10,930,586–10,930,936 shares of Best Buy common stock, indicating Schulze maintains a very large indirect stake. On June 1, 2026, there were also bona fide gifts totaling 700 shares of common stock, split between the revocable trust and shares held by his spouse, both reported at a price of $0.00 per share as typical for gifts. Additional entries show updated indirect holdings through a spouse’s irrevocable trust, a spousal GRAT, an IRA, a 401(k) account, and a limited partnership.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 500,350 shares ($38,085,311)
Net Sell
11 txns
Insider
SCHULZE RICHARD M
Role
null
Sold
500,350 shs ($38.09M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Common Stock | 350 | $0.00 | -- |
| Gift | Common Stock | 350 | $0.00 | -- |
| Sale | Common Stock | 27,132 | $77.6864 | $2.11M |
| Sale | Common Stock | 133,778 | $75.0884 | $10.05M |
| Sale | Common Stock | 147,868 | $76.9621 | $11.38M |
| Sale | Common Stock | 191,572 | $75.9616 | $14.55M |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 399 shares (Indirect, Spouse)
Footnotes (1)
- The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $77.53 to $78.05, inclusive. The reporting person undertakes to provide to BBY, any security holder of BBY, or 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $74.34 to $75.33, inclusive. The reporting person undertakes to provide to BBY, any security holder of BBY, or 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $76.53 to $77.52, inclusive. The reporting person undertakes to provide to BBY, any security holder of BBY, or 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $75.34 to $76.32, inclusive. The reporting person undertakes to provide to BBY, any security holder of BBY, or 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. This number reflects a periodic adjustment of shares under the employee retirement savings account (401(k)) exempt from reporting under Rule 16b-3(c). Total is based on a plan statement as of May 28, 2026.
Key Figures
Shares sold: 500,350 shares
Gifted shares: 700 shares
Revocable trust holding: 10,930,936 shares
+5 more
8 metrics
Shares sold
500,350 shares
Total open-market sales on May 29, 2026
Gifted shares
700 shares
Bona fide gifts on June 1, 2026
Revocable trust holding
10,930,936 shares
Shares held as trustee for revocable trust after transactions
Sale price (block 1)
$75.9616 per share
Weighted average price for 191,572-share sale
Sale price (block 2)
$76.9621 per share
Weighted average price for 147,868-share sale
Sale price (block 3)
$75.0884 per share
Weighted average price for 133,778-share sale
Sale price (block 4)
$77.6864 per share
Weighted average price for 27,132-share sale
401(k) holding
69,437.4119 shares
Periodic adjustment in 401(k) as of May 28, 2026
Key Terms
bona fide gift, weighted average price, Revocable Trust, GRAT, +1 more
5 terms
bona fide gift financial
"transaction_code_description": "Bona fide gift""
A bona fide gift is a genuine, voluntary transfer of money, property, or benefits from one party to another made without expectation of repayment, services, or hidden conditions. Investors care because such gifts can affect company disclosures, related‑party transaction rules, tax treatment, and perceived conflicts of interest; think of it like someone giving you a present with no strings attached — but on a corporate scale, auditors and regulators need to verify it really is unconditional.
weighted average price financial
"The price reported in Column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
Revocable Trust financial
"nature_of_ownership": "Trustee for Revocable Trust""
A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.
GRAT financial
"nature_of_ownership": "Spousal GRAT""
Rule 16b-3(c) regulatory
"exempt from reporting under Rule 16b-3(c)."
An SEC rule that lets corporate insiders avoid automatic "short‑swing" profit recovery when they buy or sell their company’s stock under a pre‑approved, written plan that meets specific conditions. For investors, it matters because it clarifies when insider trades are treated as routine, reducing legal uncertainty and helping distinguish trades made for ordinary compensation or pre‑planned reasons from those that might signal opportunistic or timely insider advantage.
FAQ
What insider transactions did Richard M. Schulze report for Best Buy (BBY)?
Richard M. Schulze, through entities associated with him, reported open-market sales of Best Buy common stock and small bona fide gifts. The sales totaled 500,350 shares, while gifts covered 700 shares split between a revocable trust and his spouse’s holdings.
At what prices were the Best Buy (BBY) insider sales executed?
The reported insider sales used weighted average prices, including $75.9616, $76.9621, $75.0884, and $77.6864 per share. Footnotes explain these were aggregates of multiple trades, with actual transaction prices ranging from $74.34 to $78.05 per share.
Were any of the Best Buy (BBY) insider transactions reported as gifts?
Yes. The filing reports two bona fide gift transactions coded “G,” totaling 700 Best Buy shares. One 350‑share gift involved shares held as trustee for a revocable trust, and another 350‑share gift involved shares held indirectly through his spouse.
What other indirect Best Buy (BBY) holdings are associated with Richard M. Schulze?
Beyond the revocable trust, the filing lists indirect holdings through a spouse’s irrevocable trust, a spousal GRAT, a limited partnership, an IRA, and a 401(k) plan. Each entry shows total shares following the latest update for that specific account or entity.