BBY Form 4: Schulze reports 196,100-share sale and multiple gifts

Rhea-AI Filing Summary

Richard M. Schulze, reported as Chairman Emeritus of Best Buy Co., Inc. (BBY), filed a Form 4 disclosing a transaction and multiple transfers. On September 3, 2025 he sold 196,100 shares of Best Buy common stock at a weighted average price of $74.0001 per share. The filing also records transactions dated August 29, 2025 described as gifts (code G) involving small share amounts (including 258 shares and 516 shares) and lists several indirect beneficial ownership entries across family, trust, retirement and partnership accounts, including values shown as 71,303.7584, 2,061, 702,903, 1,153,938, and 172,831 shares. The filer authorizes provision of detailed per-price sale breakdowns upon request and notes a periodic 401(k) account adjustment as of August 29, 2025.

Positive

• Timely and detailed disclosure of insider transactions, including an offer to provide per-price sale breakdowns on request
• Multiple indirect holdings documented across family trusts, retirement accounts and partnerships, increasing transparency

Negative

• Sale of 196,100 shares on 09/03/2025 at a weighted average price of $74.0001 could be perceived negatively by some investors
• Gifts and dispositions on 08/29/2025 reduce direct ownership visibility for the reporting person

Insights

Securities Analyst

TL;DR: Insider sale of 196,100 BBY shares at ~$74 suggests portfolio rebalancing; indirect holdings remain substantial.

The Form 4 shows a clear open-market sale on 09/03/2025 for 196,100 shares at a weighted average of $74.0001. The filer documents multiple transfers on 08/29/2025 labeled as gifts and reports significant indirect positions across trusts, retirement accounts and partnerships. The filing is procedural and compliant, and provides the standard offer to disclose per-price breakdowns of the sales when requested. Without price-by-price allocation or percentage ownership relative to total outstanding shares, material impact on company control or valuation cannot be established from this filing alone.

Corporate Governance Expert

TL;DR: Disclosure is complete and timely; transactions include gifts and a sizable sale but do not alone signal governance changes.

The report documents both dispositions and inter-family/plan transfers, including gifts and retirement plan adjustments, consistent with routine estate planning and portfolio management. The signer authorized an attorney-in-fact signature, indicating standard delegation. The filing notes the 401(k) adjustment basis. There is no disclosure here of resignations, appointments, or other governance actions; therefore the filing appears informational rather than indicative of governance shifts.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

SCHULZE RICHARD M

(Last) (First) (Middle)

7601 PENN AVENUE S.

(Street)

RICHFIELD MN 55423

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BEST BUY CO INC [ BBY ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Chairman Emeritus

3. Date of Earliest Transaction (Month/Day/Year)
08/29/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/03/2025		S		196,100	D	$74.0001(1)	0.0000	I	Family Foundation
Common Stock	08/29/2025		G		258	A	$0.0000	694	I	Spouse
Common Stock	08/29/2025		G		258	D	$0.0000	436	I	Spouse
Common Stock	08/29/2025		G		516	D	$0.0000	12,986,904	I	Trustee for Revocable Trust
Common Stock								71,303.7584(2)	I	401(k)
Common Stock								2,061	I	IRA
Common Stock								702,903	I	Sole general partner of limited partnership B
Common Stock								1,153,938	I	Spousal GRAT
Common Stock								172,831	I	Spouse Irrevocable Trust

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $73.75 to $74.36, 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.

2. 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 August 29, 2025.

	/s/ Jodie H. Crist, Attorney-in-fact	09/03/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Richard M. Schulze report on Form 4 for BBY?

The Form 4 reports a sale of 196,100 shares on 09/03/2025 at a weighted average price of $74.0001 and several transfers dated 08/29/2025 described as gifts.

How many shares were sold and at what price on the reported transaction?

The filing shows 196,100 shares sold at a weighted average price of $74.0001 per share.

Were there any transfers to family or trust accounts in this filing?

Yes. The filing records multiple indirect beneficial ownership entries and gift transactions dated 08/29/2025, including entries labeled for spouse, trusts, partnership and retirement accounts.

Does the Form 4 provide a per-price breakdown of the sales?

The filer states they will provide a per-price breakdown of the shares sold upon request to BBY, shareholders, or SEC staff.

Is the 401(k) balance in the filing current?

The filing notes the 401(k) figure reflects a periodic adjustment based on a plan statement as of August 29, 2025.