Best Buy (NYSE: BBY) chair emeritus discloses 23,166-share stock gifts
Rhea-AI Filing Summary
BEST BUY CO INC Chairman Emeritus Richard M. Schulze reported several bona fide gifts of Best Buy common stock. On April 15, 2026, indirect accounts associated with his spouse and a revocable trust transferred a combined 23,166 shares at a stated price of $0.00 per share, reflecting that these were non-cash gifts rather than market sales.
Following the largest reported gift, the revocable trust still holds 11,430,936 shares of Best Buy common stock indirectly. Spousal-related indirect accounts reported post-gift holdings of 1,688 shares and 749 shares, while additional indirect holdings include a 401(k) with 68,461.4349 shares, an IRA with 2,061 shares, a limited partnership with 702,903 shares, a spousal GRAT with 1,153,938 shares, and a spouse irrevocable trust with 172,831 shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 23,166 shares
Net Sell
8 txns
Insider
SCHULZE RICHARD M
Role
Insider
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Common Stock | 1,252 | $0.00 | $0.00 |
| Gift | Common Stock | 939 | $0.00 | $0.00 |
| Gift | Common Stock | 20,975 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 749 shares (Indirect, Spouse);
Common Stock — 11,430,936 shares (Indirect, Trustee for Revocable Trust);
Common Stock — 68,461.4349 shares (Indirect, 401(k));
Common Stock — 2,061 shares (Indirect, IRA);
Common Stock — 702,903 shares (Indirect, Sole general partner of limited partnership B);
Common Stock — 1,153,938 shares (Indirect, Spousal GRAT);
Common Stock — 172,831 shares (Indirect, Spouse Irrevocable Trust)
Footnotes (1)
- F1. 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 March 30, 2026.
Key Figures
Total gifted shares: 23,166 shares
Revocable trust holdings: 11,430,936 shares
Spousal indirect holdings A: 1,688 shares
+5 more
8 metrics
Total gifted shares
23,166 shares
Bona fide gifts of Best Buy common stock on April 15, 2026
Revocable trust holdings
11,430,936 shares
Indirect Best Buy common stock held after reported gift
Spousal indirect holdings A
1,688 shares
Spouse indirect Best Buy common stock after gift
Spousal indirect holdings B
749 shares
Second spouse indirect Best Buy common stock position
401(k) holdings
68,461.4349 shares
Employee retirement savings account as of March 30, 2026
Limited partnership B holdings
702,903 shares
Indirect Best Buy common stock via limited partnership B
Spousal GRAT holdings
1,153,938 shares
Indirect Best Buy common stock held in Spousal GRAT
Spouse irrevocable trust holdings
172,831 shares
Indirect Best Buy common stock in spouse irrevocable trust
Key Terms
bona fide gift, Rule 16b-3(c), 401(k), Revocable Trust, +2 more
6 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.
Rule 16b-3(c) regulatory
"exempt from reporting under Rule 16b-3(c). Total is based"
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.
401(k) financial
"employee retirement savings account (401(k)) exempt from reporting"
A 401(k) is a type of retirement savings plan offered by employers that allows workers to set aside a portion of their paycheck before taxes are taken out. The money saved in a 401(k) can grow over time through investments, helping individuals build funds for their future retirement. It matters to investors because it provides a tax-advantaged way to save and invest for long-term financial security.
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.
Spousal GRAT financial
"nature_of_ownership": "Spousal GRAT""
Spouse Irrevocable Trust financial
"nature_of_ownership": "Spouse Irrevocable Trust""
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transactions did BBY’s Richard M. Schulze report on this Form 4?
Richard M. Schulze reported bona fide gifts of Best Buy common stock totaling 23,166 shares on April 15, 2026. These were non-cash transfers, coded as gifts, rather than open-market purchases or sales of BBY shares.
Were the Best Buy (BBY) insider transactions open-market sales or non-cash gifts?
The reported BBY insider transactions were non-cash gifts, not open-market sales. Each transaction used code G for bona fide gifts with a price of $0.00 per share, indicating stock transfers rather than sales for cash proceeds.
What retirement and partnership accounts holding BBY stock are noted in this filing?
The filing lists a 401(k) account with 68,461.4349 shares based on a plan statement dated March 30, 2026, an IRA holding 2,061 shares, and a limited partnership B position of 702,903 shares, all categorized as indirect ownership.