Best Buy Founder & Chairman Emeritus Richard Schulze Disposes $27.8M in Common Stock

Insider Filing Analysis: Best Buy Co Inc (NYSE: BBY)

Summary of Activity

On September 16, 2026, Richard M. Schulze, Founder and Chairman Emeritus of Best Buy Co Inc, executed a series of transactions involving 300,000 shares of Best Buy common stock:

1. Gifting / Entity Transfer: Schulze transferred 300,000 shares from his Revocable Trust to his Family Foundation via bona fide gift (Transaction Code G).
2. Open-Market Liquidation: The Family Foundation subsequently liquidated all 300,000 shares across two tranches:
   • 52,660 shares at a weighted average price of $92.8994 (ranging from $92.81 to $93.00).
   • 247,340 shares at a weighted average price of $92.4320 (ranging from $91.79 to $92.78).
3. Gross Proceeds: Total gross proceeds from the sale amounted to approximately $27.75 million.

Ownership Context

Despite the sale, Schulze retains substantial equity in the company across multiple indirect vehicles:

• Revocable Trust: 9,230,936 shares
• Spousal GRAT: 1,153,938 shares
• Limited Partnership B: 702,903 shares
• Spouse Irrevocable Trust: 172,831 shares
• 401(k), IRA, & Spouse Direct: ~72,600 shares
• Total Remaining Beneficial Ownership: Over 11.33 million shares.

Market Significance

The disposition of $27.8M represents a sizable nominal transaction, though it is standard philanthropic monetization via a family foundation and accounts for less than 3% of Schulze's total holdings in Best Buy.