CarMax Inc. filings document formal disclosures for a NYSE-listed used-vehicle retailer with common stock trading under KMX. Recent Form 8-K reports furnish earnings releases covering operating results, retail and wholesale vehicle sales, gross profit per unit, expenses, restructuring charges, extended protection plan margins, vehicle sourcing and CarMax Auto Finance activity.
The company’s regulatory record also covers governance and compensation matters, including executive appointments, board changes, severance agreements, equity incentive arrangements and annual meeting voting results. Shareholder votes address director elections, auditor ratification, executive compensation and shareholder proposals, while current reports identify material events and related exhibits.
CARMAX INC director James Francis Kessler filed an initial ownership report on Form 3. This filing identifies him as a reporting person for the company’s securities, but it does not list any stock or option transactions or current holdings. It is an administrative disclosure required when someone becomes a director or otherwise subject to reporting rules.
CarMax Inc. director William C. Cobb filed an initial ownership report showing indirect holdings of CarMax common stock. The filing lists 300 shares of common stock held through the William & Carole Cobb 2000 Family Trust, with no new purchase or sale reported.
CarMax director Thomas J. Folliard reported routine equity compensation transactions involving restricted stock units and related tax withholding. On June 23, 2026, 14,855 restricted stock units converted into the same number of CarMax common shares, reflecting the vesting of part of a prior RSU grant tied to his service as Interim Executive Chair.
To cover tax obligations, 3,618 of these shares were delivered back at an effective price of $51.91 per share, a tax-withholding disposition rather than an open-market sale. Following these transactions, he directly held 224,058 common shares. All 14,855 RSUs from this vested tranche were converted, and the remaining 10,610 RSUs from the original 25,465-unit grant were forfeited in line with the award terms.
CarMax Inc. director Peter J. Bensen purchased 2,500 shares of Common Stock in an open-market transaction at $52.20 per share. The buy, totaling about $130,500, increases his direct holdings to 24,796 shares. This appears as a routine insider purchase by a board member.
CarMax Inc. President and CEO Keith Barr bought 9,400 shares of the company’s Common Stock in an open-market purchase on June 22, 2026 at a price of $53.005 per share.
Following this transaction, Barr directly holds 33,375 CarMax shares, reflecting an increase in his personal equity stake in the company.
CarMax, Inc. held its 2026 Annual Meeting of Shareholders, where investors approved an amended and restated 2002 Stock Incentive Plan. The plan increases shares reserved for equity awards by 1,842,000 shares, adds a minimum vesting requirement, prohibits dividends on unvested awards, and extends the plan’s termination date to June 23, 2036. Shareholders elected all nominated directors for one-year terms and ratified KPMG LLP as independent auditor for fiscal 2027. They also approved the non-binding advisory vote on executive compensation and formally approved the amended Stock Incentive Plan.
CarMax, Inc. reported first-quarter fiscal 2027 results showing modest sales growth but softer profitability. Net sales and operating revenues rose to $8.01 billion, up 6.2% from the prior-year quarter, driven mainly by higher wholesale vehicle sales.
Net earnings declined to $185.6 million, down 11.8%, with diluted earnings per share of $1.31 versus $1.38 a year ago. Gross profit fell 4.4% to $854.4 million as used gross profit per unit dropped 9.6% to $2,177, while wholesale gross profit per unit was essentially flat at $1,046.
Used unit sales were 230,293, roughly unchanged year over year, and comparable-store used unit sales decreased 0.8%. Wholesale unit sales increased 8.4% to 162,064. CarMax Auto Finance income was $140.2 million, down 1.0%, as provision for loan losses remained elevated.
Operating cash flow was $17.6 million, significantly below $299.5 million in the prior-year period, reflecting higher growth in auto loans held for sale and working capital shifts. Total assets were $26.63 billion, with shareholders’ equity of $6.12 billion. Management notes leverage is slightly above its targeted range, and share repurchases remain paused, though the company reiterates plans to resume buybacks when conditions warrant.
CarMax reported first quarter fiscal 2027 results showing modest growth in sales but lower profit. Net sales and operating revenues rose 6.2% to $8.0 billion, driven by higher used and wholesale vehicle revenues. Combined retail and wholesale unit sales grew 3.3% to 392,357 vehicles.
Net earnings declined 11.8% to $185.6 million, and diluted EPS decreased to $1.31 from $1.38 as gross margin compressed. SG&A fell 3.7% to $635.2 million, improving cost leverage. CarMax Auto Finance contributed $140.2 million of income, down 1.0% year over year, while financing penetration increased to 43.3%.
CarMax also entered a new $500 million Term Loan Facility maturing in 2029, using proceeds mainly to pay down borrowings under its $2.0 billion unsecured revolving credit facility and for working capital and general corporate purposes. Management introduced a four‑pillar growth strategy focused on competitive pricing, seamless omni-channel experiences, maximizing value per transaction, and running a leaner cost structure.
CarMax, Inc. announced that Vice President, Controller and Principal Accounting Officer Jill Livesay plans to retire from the company effective at the close of business on July 31, 2026. The company states her retirement is not due to any disagreement over operations, accounting principles, financial statements, or internal controls.
Upon her retirement, Executive Vice President and Chief Financial Officer Enrique N. Mayor-Mora, who has been with CarMax for 15 years and is age 57, will also serve as the company’s principal accounting officer. He will assume the PAO responsibilities without any change or addition to his current compensation.
The filing notes that there are no special arrangements or understandings related to Mr. Mayor-Mora’s selection, no family relationships with the company’s directors or executive officers, and no material interests in transactions that would require disclosure under Item 404(a) of Regulation S-K.
AQR Capital Management filed an amendment to Schedule 13G disclosing beneficial ownership of 10,060,502 shares of CarMax Inc. (Common Stock, CUSIP 143130102), representing 7.10% of the class. The filing lists shared voting power of 9,927,479 and shared dispositive power of 10,060,502. The amendment is signed May 14, 2026.