Best Buy chair emeritus sells 300K shares via foundation
Best Buy Chairman Emeritus Richard M. Schulze reported indirect sales and large gift transfers of BBY shares through family entities and trusts.
Rhea-AI Filing Summary
BEST BUY CO INC (BBY) insider Richard M. Schulze, Chairman Emeritus, reported indirect transactions in common stock on September 16, 2026. A family foundation associated with him received a bona fide gift of 300,000 shares and sold 52,660 shares at a weighted average $92.8994 and 247,340 shares at a weighted average $92.4320, in multiple transactions within stated price ranges. Separately, 300,000 shares were gifted out of a revocable trust for which he serves as trustee, leaving that trust holding 9,230,936 shares indirectly. Additional indirect holdings are reported in a 401(k), IRA, partnerships, GRATs, and spousal-related trusts, and no Rule 10b5-1 trading plan is reported.
Positive
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Negative
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Insights
Analyzing...
Insider Trade Summary
Net Seller: 300,000 shares
Net Sell
10 txns
Insider
SCHULZE RICHARD M
Role
Insider
Sold
300,000 shs ($27.75M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Common Stock | 300,000 | $0.00 | $0.00 |
| Sale | Common Stock F1 | 52,660 | $92.8994 | $4.89M |
| Sale | Common Stock F2 | 247,340 | $92.432 | $22.86M |
| Gift | Common Stock | 300,000 | $0.00 | $0.00 |
| holding | Common Stock F3 | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 0 shares (Indirect, Family Foundation);
Common Stock — 9,230,936 shares (Indirect, Trustee for Revocable Trust);
Common Stock — 70,140.9651 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 — 399 shares (Indirect, Spouse);
Common Stock — 172,831 shares (Indirect, Spouse Irrevocable Trust)
Footnotes (3)
- F1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $92.81 to $93.00, 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.
- F2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $91.79 to $92.78, 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.
- F3. 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 September 15, 2026.
Key Figures
Gift to Family Foundation: 300,000 shares
Family Foundation Sale 1: 52,660 shares at $92.8994 per share
Family Foundation Sale 2: 247,340 shares at $92.4320 per share
+3 more
6 metrics
Gift to Family Foundation
300,000 shares
Bona fide gift of BBY common stock to a family foundation on September 16, 2026
Family Foundation Sale 1
52,660 shares at $92.8994 per share
Weighted-average price; trades between $92.81 and $93.00 on September 16, 2026
Family Foundation Sale 2
247,340 shares at $92.4320 per share
Weighted-average price; trades between $91.79 and $92.78 on September 16, 2026
Revocable Trust Holding After Gift
9,230,936 shares
Indirect BBY shares held by revocable trust after gifting 300,000 shares
401(k) Plan Holding
70,140.9651 shares
Indirect BBY shares in employee 401(k) plan as of September 15, 2026
Spousal GRAT Holding
1,153,938 shares
Indirect BBY shares held through a spousal GRAT
Key Terms
bona fide gift, weighted average price, Rule 16b-3(c), GRAT, +1 more
5 terms
bona fide gift regulatory
"transaction code description notes a Bona fide gift of shares"
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.
Rule 16b-3(c) regulatory
"adjustment of shares under the employee retirement savings account (401(k)) 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.
GRAT financial
"nature of ownership listed as Spousal GRAT for certain indirect holdings"
revocable trust financial
"nature of ownership listed as 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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions in BBY stock did Richard M. Schulze report on September 16, 2026?
Richard M. Schulze reported indirect transactions in Best Buy (BBY) common stock, including a bona fide gift of 300,000 shares to a family foundation and open-market sales by that foundation totaling 300,000 shares at weighted-average prices around $92–93.
Were Richard M. Schulze’s September 16, 2026 BBY transactions under a Rule 10b5-1 plan?
No. The filing’s Rule 10b5-1 checkbox is not marked as affirmative, and no Rule 10b5-1 trading plan is reported for the September 16, 2026 transactions in BBY shares.
What additional indirect BBY holdings does Richard M. Schulze report?
Indirect BBY holdings reported include 70,140.9651 shares in a 401(k), 2,061 shares in an IRA, 702,903 shares via a limited partnership, 1,153,938 shares in a spousal GRAT, 399 shares held by a spouse, and 172,831 shares in a spouse irrevocable trust.
How is the 401(k) holding in BBY stock described for Richard M. Schulze?
The 401(k) holding is reported as 70,140.9651 BBY shares. A footnote explains this reflects a periodic adjustment of shares under an employee retirement savings account, based on a plan statement as of September 15, 2026, and is exempt from reporting under Rule 16b-3(c).
AI-generated analysis. How Rhea-AI works. Not financial advice.
