Corporate GovernanceJun 24, 2026, 04:43 PM
CarMax Shareholders Approve Amended Stock Incentive Plan
AI Summary
CarMax shareholders approved amendments to the 2002 Stock Incentive Plan at the 2026 Annual Meeting, increasing shares reserved for issuance by 1,842,000, adding a minimum vesting requirement, prohibiting dividends on unvested awards, and extending the plan's termination date to June 23, 2036. Additionally, shareholders elected directors, ratified KPMG LLP as the independent auditor for fiscal year 2027, and approved the non-binding advisory resolution on executive compensation.
Key Highlights
- Shareholders approved the amended 2002 Stock Incentive Plan.
- The plan increases shares reserved for issuance by 1,842,000.
- A minimum vesting requirement for incentive awards was added.
- Dividends and dividend equivalents on unvested incentive awards are now prohibited.
- The plan's termination date was extended to June 23, 2036.
- Shareholders elected 11 directors to the Board for a one-year term.
- KPMG LLP was ratified as the independent auditor for fiscal year 2027.
- The non-binding advisory resolution on executive compensation was approved.
Price Impact
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