Best Buy

disclosing that the Board of Directors (the “Board”) of the Company elected Mario J. Marte as a director, effective January 7, 2021. On March 2, 2021, the Company filed a Current Report on Form 8-K (the “Rendle Original 8-K”) under

(d) On February 28, 2021, the Board of Directors (the “Board”) of Best Buy Co., Inc. ("Best Buy" or the "registrant") elected Steven E. Rendle as a director, effective March 18, 2021. Mr. Rendle is the Chairman, President and Chief Executive Officer of VF Corporation, one of the world’s largest apparel, footwear and accessories companies with a family of iconic outdoor, active and workwear brands including Vans®, The North Face®, Timberland® and Dickies® , with $10.5 billion in annual revenues in 2020. Mr. Rendle brings to the Board over twenty years of expertise in transformational leadership, branding, multi-dimensional supply chain and customer activation. Mr. Rendle will be appointed to serve on a Board committee at a later date. Committee assignment(s), once determined, will be disclosed by the registrant in a Current Report on Form 8-K. Mr.

(d) On January 7, 2021, the Board of Directors (the “Board”) of Best Buy Co., Inc. ("Best Buy" or the "registrant") unanimously elected Mario J. Marte as a director, effective immediately. Mr. Marte is the Chief Financial Officer of Chewy, Inc., a leading internet and direct marketing retailer focused on pet food and other pet-related products, with $4.8 billion in annual revenues in 2019. Mr. Marte brings to the Board in-depth professional experience in financial planning and analysis, treasury, strategy, risk management and commercial and operations finance through his roles at Chewy, Hilton Worldwide, American Airlines and Accenture. Mr. Marte will be appointed to serve on a Board committee at a later date. Committee assignment(s), once determined, will be disclosed by the registrant in a Current Report on Form 8-K. Mr.

(b) On September 17, 2020, Kathy Higgins Victor notified the Board of Directors (the “Board”) of Best Buy Co., Inc. (the “company” or “registrant”) that she would retire from the Board due to personal reasons effective following the conclusion of the Board’s meeting held on September 17, 2020. Ms. Higgins Victor joined the Board in November 1999 and has served on the Compensation & Human Resources Committee and as the Chair of the Nominating, Corporate Governance and Public Policy Committee. ‎ 2

(e) On April 9, 2020, the Compensation and Human Resources Committee of the Board of Directors (the “Board”) of Best Buy Co., Inc. (the “Company” or “registrant”) approved, with the agreement of the impacted executive officers, temporary salary reductions for the period of April 12, 2020, through September 1, 2020.

(b) On March 10, 2020, Hubert Joly, former Chief Executive Officer and current Executive Chairman of the Board, informed the Board of Directors (the “Board”) of Best Buy Co., Inc. (the “Company” or “registrant”) that he would not stand for re-election at the Company’s 2020 Regular Meeting of Shareholders, scheduled for June 11, 2020 (the “Meeting”) and would retire as Executive Chairman at that time, thereby completing the transition he initiated in 2019. The Board and Mr. Joly agreed to extend, through the effective date of his retirement, Mr. Joly’s Employment Agreement entered into on April 13, 2019 and filed as Exhibit 10.1 to the Current Report on Form 8-K filed by the Company on April 15, 2019 (the “Joly Employment Agreement”). Upon his retirement, Mr. Joly will be eligible for the rights and benefits applicable to his retirement under the Joly Employment Agreement.

(b) On December 12, 2019, Cindy Kent notified the Board of Directors (the “Board”) of Best Buy Co., Inc. (the “Company” or “registrant”) that she would complete her term as a director and would not stand for re-election at the Company’s 2020 Regular Meeting of Shareholders. Ms. Kent recently accepted the position of Executive Vice President & President of Senior Living at Brookdale Senior Living, Inc. and her decision to step down was solely related to the demands of that new position and was not the result of any dispute or disagreement with the Company or the Board on any matter. Ms. Kent joined the Board in September 2018 and serves on the Compensation & Human Resources Committee and the Finance & Investment Policy Committee.

 On July 24, 2019, Best Buy Co., Inc. (the “Company” or the “registrant”) announced that Matthew Bilunas, age 47, has been appointed to serve as the Company’s Chief Financial Officer, effective July 29, 2019. Mr. Bilunas will report directly to Corie Barry, the Company’s Chief Executive Officer.  Mr. Bilunas has been the Company’s Senior Vice President, Enterprise and Merchandising Finance since April 2017, responsible for the performance management and planning processes for the overall enterprise. From November 2015 to March 2017, he served as Vice President, Finance for category, e-commerce and marketing and from May 2014 to October 2015 he served as Vice President, Category Finance. He joined the Company in 2006 and has served in a variety of finance roles, including both retail and international positions.

(d) disclosing that the Board of Directors (the “Board”) of the Company elected Eugene Woods as a director, effective December 14 , 2018. Committee assignments for Mr. Woods were not determined as of the filing of the Original 8-K.  On April 13 , 2019, the Board appointed Mr. Woods to its Finance & Investment Policy Committee. Mr. Woods’ c ommittee appointment w ill be effective June 11 , 2019. 2

 (b) On April 15, 2019, Best Buy Co., Inc. (the “Company” or “registrant”) announced a succession plan by which Hubert Joly will retire from the position of Chief Executive Officer, effective at the Company’s 2019 Regular Meeting of Shareholders (the “2019 Regular Meeting”). Mr. Joly will thereafter continue his service on the Company’s Board of Directors (the “Board”) as Executive Chairman of the Board.  (c) The Company announced that Corie Barry, the Company’s Chief Financial Officer, has been appointed Chief Executive Officer effective at the 2019 Regular Meeting. Ms. Barry has also been nominated by the Board to stand for election to the Board at the 2019 Regular Meeting. Ms. Barry, age 43, has served as the Company’s Chief Financial Officer since June 2016 and also as the Chief Strategic Transformation Officer since September 2018. Ms.

Director or officer change (Item 5.02). Open the filing for details.

On October 3, 2018, Best Buy Co., Inc. (the “Company”) filed a Current Report on Form 8-K (the “Original 8-K”) under

(d) On December 14, 2018, the Board of Directors (the “Board”) of Best Buy Co., Inc. ("Best Buy" or the "registrant") unanimously elected Eugene Woods as a director, effective immediately. Mr. Woods is the President and Chief Executive Officer of Atrium Health, a health system with nearly $10 billion in annual revenue, 44 hospitals and 900 care locations. Mr. Woods has over 25 years of health care administration experience through his roles at various hospitals and health care systems. Mr. Woods will be appointed to serve on a Board committee at a later date. Committee assignment(s), once determined, will be disclosed by the registrant in a Current Report on Form 8-K. Mr.

(d) On September 28, 2018, the Board of Directors (the “Board”) of Best Buy Co., Inc. ("Best Buy" or the "registrant") unanimously elected Cindy Kent as a director, effective immediately. Ms. Kent was most recently president and general manager of the Infection Prevention Division at 3M Co., a multinational corporation operating in the fields of industry, health care and consumer goods. Ms. Kent has over twenty-five years of health care experience through her prior roles at 3M Co., Medtronic, Inc., and Eli Lilly & Co. Ms. Kent will be appointed to serve on a Board committee at a later date. Committee assignment(s), once determined, will be disclosed by the registrant in a Current Report on Form 8-K. Ms.

(b) On July 25, 2018, Best Buy Co., Inc. (the “Company” or “registrant”) announced that Shari Ballard will be stepping down as the Company’s Senior Executive Vice President and President, Multi-Channel Retail effective on August 3, 2018. Ms. Ballard informed the Company that her decision was for personal reasons. She will be employed on a full-time basis with the Company through March 2019 in an advisory capacity. There has been no change to Ms. Ballard’s compensation or the other terms of her employment in connection with this transition. 2

On March 22, 2018, Best Buy Co., Inc. (the “Company”) filed a Current Report on Form 8-K (the “Original 8-K”) under

(d) On March 16, 2018, the Board of Directors (the “Board”) of Best Buy Co., Inc. ("Best Buy" or the "registrant") unanimously elected Richelle P. Parham as a director, effective immediately. Ms. Parham is currently a general partner at Camden Partners Holdings, LLC, a strategy and investment firm focused on small- to mid-size companies in the technology, business services, education and healthcare sectors. Ms. Parham has over twenty-five years of global strategy and marketing experience through her prior roles at eBay, Visa, Rapp Worldwide, Digitas and Citibank. Ms. Parham will be appointed to serve on a Board committee at a later date. Committee assignment(s), once determined, will be disclosed by the registrant in a Current Report on Form 8-K. Ms.

On June 13, 2017, Best Buy Co., Inc. (“Best Buy” or the "Company" or the “registrant”) held its 2017 Regular Meeting of Shareholders (the “Regular Meeting”), at which shareholders approved the Amended and Restated Best Buy Co., Inc. 2014 Omnibus Incentive Plan (the “Amended 2014 Plan”). The amendments to the Amended 2014 Plan include, among other things, (i) an increase in the number of shares reserved for issuance under the Amended 2014 Plan of 10,200,000 shares to a total of 32,700,000 shares, (ii) inclusion of a minimum vesting requirement for a period of one year, (iii) dividend restrictions on unvested shares, and (iv) a change to the tax withholding language to permit Amended 2014 Plan participants to have shares withheld from their award up to the maximum withholding rate permitted under applicable law (in response to recent regulatory changes).

Sharon McCollam to Transition out of Chief Administrative and Financial Officer roles On May 24, 2016, Best Buy Co., Inc. (the “Company”) announced that Sharon McCollam will be stepping down as the Company’s Chief Administrative and Financial Officer following the Company’s Regular Meeting of Shareholders on June 14, 2016. Ms. McCollam will remain employed with the Company in an advisory capacity to support the transition to her successor through the end of 2016. There has been no change to Ms. McCollam’s compensation or the other terms of her employment in connection with this transition. Appointment of Corie Barry as Chief Financial Officer On May 24, 2016, the Company announced that Corie Barry, age 41, has been appointed to serve as the Company’s Chief Financial Officer, effective June 14, 2016. Ms.

Director or officer change (Item 5.02). Open the filing for details.