Form 4: CarMax EVP & CFO Enrique Mayor-Mora Reports Stock Option Grant

Enrique Mayor-Mora, EVP & CFO of CarMax, reported the acquisition of 30,843 stock options on May 1, 2024, exercisable in installments starting May 1, 2025.

Summary

• On May 1, 2024, Enrique Mayor-Mora, the EVP & CFO of CarMax, acquired 30,843 stock options.
• The exercise price of these options is $67.21.
• The options become exercisable in four equal installments on May 1st of 2025, 2026, 2027, and 2028.
• These stock options were granted in tandem with stock appreciation rights (SARS).
• The SARS become exercisable only following a change in control of the Company as set forth in the Company's 2002 Stock Incentive Plan, as amended and restated.
• Once exercisable, the SARS would entitle the Reporting Person to receive the cash value of the options in lieu of exercising the options.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive as it reflects standard executive compensation practices and aligns management with shareholder interests.

Positives

• The grant of stock options to the CFO aligns his interests with those of the shareholders.
• The vesting schedule encourages long-term commitment from the executive.

Industry Context

Stock option grants are a common form of executive compensation in the automotive retail industry, aligning management's interests with shareholder value.

Stakeholder Impact

• The stock option grant aligns the CFO's interests with those of shareholders, potentially driving long-term value creation.

Key Dates