Form 4: Richard Schulze, Best Buy Chairman Emeritus, 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 due to gifting transactions.

Summary

• Richard Schulze, Chairman Emeritus of Best Buy, reported changes in his beneficial ownership of Best Buy Co. Inc. stock on October 3, 2024.
• The filing indicates gifting transactions involving common stock.
• Schulze gifted 100,000 shares to a family foundation and another 100,000 shares directly.
• Following these transactions, Schulze's direct holdings decreased, while his indirect holdings through various entities remained substantial.
• These entities include a Family Foundation (396,100 shares), a Revocable Trust (13,502,313 shares), a 401(k) (72,031.4313 shares), an IRA (2,061 shares), a limited partnership (702,903 shares), another limited partnership (31,672 shares), an LLC (1,153,938 shares), a Spousal GRAT (172,831 shares), and a Spouse Irrevocable Trust.

Sentiment

Score: 5

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

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in ownership structure, but the overall impact is likely minimal.

Key Dates