Best Buy Files 2025 Proxy Statement

Ticker: BBY · Form: DEF 14A · Filed: 2025-05-01T00:00:00.000Z

Sentiment: neutral

Topics: proxy-statement, governance, shareholder-meeting

TL;DR

Best Buy's 2025 proxy statement is out, detailing exec pay & shareholder votes for the June 13 meeting.

AI Summary

Best Buy Co., Inc. filed its definitive proxy statement (DEF 14A) on May 1, 2025, for the fiscal year ending January 31, 2025. The filing pertains to the annual meeting of shareholders scheduled for June 13, 2025. Key details regarding executive compensation, director nominations, and other corporate governance matters will be presented to shareholders for approval.

Why It Matters

This filing provides shareholders with crucial information about the company's governance, executive pay, and proposals to be voted on at the annual meeting, impacting their investment decisions.

Risk Assessment

Risk Level: low — This is a routine annual filing (DEF 14A) that provides information to shareholders and does not inherently introduce new risks.

Key Numbers

Key Players & Entities

FAQ

What is the purpose of a DEF 14A filing?

A DEF 14A filing, or Definitive Proxy Statement, is used by companies to solicit proxies from shareholders for an upcoming annual or special meeting. It contains detailed information about matters to be voted on, such as director elections, executive compensation, and other corporate proposals.

When is Best Buy's annual shareholder meeting scheduled?

Best Buy's annual shareholder meeting is scheduled for June 13, 2025.

What is the filing date of this proxy statement?

This Definitive Proxy Statement was filed on May 1, 2025.

What is Best Buy's fiscal year end?

Best Buy's fiscal year ends on January 31st.

What is the company's SIC code?

Best Buy Co., Inc.'s Standard Industrial Classification (SIC) code is 5731, which corresponds to Retail - Radio TV & Consumer Electronics Stores.

From the Filing

0001140361-25-016935.txt : 20250501 0001140361-25-016935.hdr.sgml : 20250501 20250501163051 ACCESSION NUMBER: 0001140361-25-016935 CONFORMED SUBMISSION TYPE: DEF 14A PUBLIC DOCUMENT COUNT: 70 CONFORMED PERIOD OF REPORT: 20250613 FILED AS OF DATE: 20250501 DATE AS OF CHANGE: 20250501 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BEST BUY CO INC CENTRAL INDEX KEY: 0000764478 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-RADIO TV & CONSUMER ELECTRONICS STORES [5731] ORGANIZATION NAME: 07 Trade & Services EIN: 410907483 STATE OF INCORPORATION: MN FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 001-09595 FILM NUMBER: 25903755 BUSINESS ADDRESS: STREET 1: 7601 PENN AVE SOUTH CITY: RICHFIELD STATE: MN ZIP: 55423 BUSINESS PHONE: 6122911000 MAIL ADDRESS: STREET 1: 7601 PENN AVE SOUTH CITY: RICHFIELD STATE: MN ZIP: 55423 FORMER COMPANY: FORMER CONFORMED NAME: BEST BUYS CO INC DATE OF NAME CHANGE: 19900809 DEF 14A 1 ny20041064x771_def14a.htm DEF 14A TABLE OF CONTENTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.  ) Filed by the Registrant ☒ Filed by a Party other than the Registrant ☐ Check the appropriate box:   ☐ Preliminary Proxy Statement   ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ☒ Definitive Proxy Statement   ☐ Definitive Additional Materials   ☐ Soliciting Material pursuant to §240.14a-12     BEST BUY CO., INC. (Name of Registrant as Specified In Its Charter)   (Name of Person(s) Filing Proxy Statement, if other than the Registrant)   Payment of Filing Fee (Check all boxes that apply):         ☒     No fee required   ☐     Fee paid previously with preliminary materials   ☐     Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11         TABLE OF CONTENTS   TABLE OF CONTENTS       BEST BUY CO., INC. 7601 Penn Avenue South Richfield, Minnesota 55423                       Notice of 2025                     Regular Meeting of Shareholders     Time 9:00 a.m., Central Time Friday, June 13, 2025     Place Online at www.virtualshareholdermeeting.com/BBY2025     Internet Submit pre-meeting questions online by visiting www.proxyvote.com and attend the Regular Meeting of Shareholders online at www.virtualshareholdermeeting.com/BBY2025     Record Date You may vote if you were a shareholder of Best Buy Co., Inc. as of the close of business on Monday, April 14, 2025.         IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE REGULAR MEETING OF SHAREHOLDERS TO BE HELD ON JUNE 13, 2025:   This Notice of 2025 Regular Meeting of Shareholders and Proxy Statement and our Annual Report on Form 10-K for the fiscal year ended February 1, 2025, are available at www.proxyvote.com .       Richfield, Minnesota May 1, 2025         Items of Business Management Proposals 1.  To elect the eleven director nominees listed herein to serve on our Board of Directors for a term of one year. 2.  To ratify the appointment of Deloitte & Touche LLP as our independent registered public accounting firm for the fiscal year ending January 31, 2026. 3.  To conduct a non-binding advisory vote to approve our named executive officer compensation. 4.  To request shareholder approval of Amendment No. 1 to our 2020 Omnibus Incentive Plan. Shareholder Proposals 5-

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