Form 4: Best Buy Chairman Emeritus Richard Schulze Reports Changes in Beneficial Ownership

Richard Schulze, Chairman Emeritus of Best Buy, filed a Form 4 detailing changes in his beneficial ownership of the company's stock.

Summary

• Richard M. Schulze, Chairman Emeritus of Best Buy Co. Inc., reported changes in his beneficial ownership of the company's common stock on September 24, 2024.
• The filing indicates a transaction involving 540 shares of common stock, categorized under transaction code 'G', disposed of at a price of $0.00.
• Following the reported transaction, Schulze's beneficial ownership includes 13,602,313 shares held indirectly as a trustee for a revocable trust.
• Additional indirect holdings include 71,353.5214 shares in a 401(k), 296,100 shares in a family foundation, 2,061 shares in an IRA, 702,903 shares as a sole general partner of a limited partnership, 31,672 shares as a sole member of an LLC which is sole general partner of a limited partnership, 1,153,938 shares in a spousal GRAT, and 172,831 shares in a spouse's irrevocable trust.
• The filing also notes a periodic adjustment of shares under the employee retirement savings account (401(k)) exempt from reporting under Rule 16b-3(c), based on a plan statement as of August 30, 2024.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral.

Industry Context

This filing is a routine disclosure related to changes in beneficial ownership by a company insider, as required by the SEC. It provides transparency to investors regarding the holdings and transactions of key individuals within the company.

Key Dates