SCHEDULE: BlackRock Amends CarMax Stake, Disclosing 6.5% Beneficial Ownership
Beneficial Ownership Disclosure
BlackRock, Inc. has filed an Amendment No. 11 to its Schedule 13G, disclosing a 6.5% beneficial ownership stake in CarMax Inc. common stock as of June 30, 2025.
Summary
- BlackRock, Inc. reported beneficial ownership of 9,736,413 shares of CarMax Inc. common stock.
- This ownership represents 6.5% of CarMax Inc.'s total outstanding common stock.
- BlackRock holds sole voting power over 9,048,503 shares and sole dispositive power over 9,736,413 shares.
- No shared voting or dispositive power is reported by BlackRock.
- The filing is an Amendment No. 11 to a Schedule 13G, indicating an update to previously disclosed beneficial ownership.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that would inherently indicate positive or negative sentiment regarding the issuer's performance or outlook.
Positives
- NA
Negatives
- NA
Risks
- NA
Future Outlook
NA
Management Comments
- The securities were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities.
- The securities were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
Industry Context
NA
Comparison to Industry Standards
- NA
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Attorney-in-fact for BlackRock, Inc. | Previous individuals authorized under the April 30, 2023 Power of Attorney | Eric Andruczyk, Richard Cundiff, R. Andrew Dickson, III, Spencer Fleming, Laura Hildner, David Maryles, Christopher Meade, Charles Park, James Raby, Daniel Riemer, David Rothenberg, Brenda Schulz | 2025-01-21 | Revocation of previous Power of Attorney and establishment of a new one. |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney Update | BlackRock, Inc. updated its Power of Attorney, designating new and existing individuals to execute documents related to ownership or control-person reporting requirements. | 2025-01-21 | Enhances internal compliance and reporting efficiency for BlackRock, Inc. regarding its various investment holdings. |
Legal Proceedings
- NA
Related Party Transactions
- NA
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant institutional investor's stake in CarMax Inc., which can influence market perception and investor confidence.
- Regulatory Authorities: Fulfills SEC disclosure requirements for beneficial ownership, ensuring market transparency.
Next Steps
- NA
Key Dates
| Date | Description |
|---|---|
| 2023-04-30 | Date of the previous Power of Attorney, which has been revoked. |
| 2025-01-21 | Effective date of the new Power of Attorney for BlackRock, Inc. |
| 2025-06-30 | Date of the event which requires the filing of this statement. |
| 2025-07-16 | Date of filing and signature by BlackRock, Inc. |
Keywords
Schedule 13G, BlackRock, CarMax, Beneficial Ownership, Common Stock, Institutional Investor, SEC Filing
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