Richard M. Schulze, Chairman Emeritus of Best Buy Co Inc, filed a Form 4 with the SEC on September 18, 2026, disclosing a series of common stock transactions dated September 16, 2026, including gifts and open-market sales tied to a Family Foundation account.

Key Highlights

  • Stock gifted in: 300,000 shares of Best Buy common stock were acquired (transaction code G) by a Family Foundation at $0.0000 on September 16, 2026.
  • First block sold: 52,660 shares were disposed of at a weighted average price of $92.8994, with individual sale prices ranging from $92.81 to $93.00.
  • Second block sold: 247,340 shares were disposed of at a weighted average price of $92.432, with individual sale prices ranging from $91.79 to $92.78.
  • Gift out: 300,000 shares were disposed of (transaction code G) at $0.0000 from the Family Foundation to a Revocable Trust account.
  • Revocable Trust holdings: Following the reported transactions, the Revocable Trust held 9,230,936 shares indirectly.
  • Additional indirect holdings: The filing also lists shares held through a 401(k) (70,140.9651 shares), an IRA (2,061 shares), a limited partnership (702,903 shares), a Spousal GRAT (1,153,938 shares), a spouse account (399 shares), and a Spouse Irrevocable Trust (172,831 shares).

Schulze's Family Foundation Transactions and Resulting Ownership in Best Buy

According to the filing, Richard M. Schulze, identified as Chairman Emeritus of Best Buy Co Inc (NYSE:BBY), executed multiple transactions on September 16, 2026. The filing shows that 300,000 shares of common stock were first gifted into a Family Foundation account at no monetary consideration. That same day, the Foundation sold two separate blocks of shares on the open market: 52,660 shares at a weighted average price of $92.8994 per share and 247,340 shares at a weighted average price of $92.432 per share. Both sales involved multiple transactions across price ranges, and the filing states that full details of per-share prices are available upon request to Best Buy, any security holder, or the SEC staff.

Following those sales, the filing records that the remaining 300,000 shares held in the Family Foundation were then disposed of via gift (transaction code G) at $0.0000, leaving that account with zero shares. The Revocable Trust for which Schulze serves as trustee held 9,230,936 shares indirectly following the reported transactions, according to the disclosure.

The filing also discloses several other categories of indirect beneficial ownership held by Schulze as of the filing date. These include 70,140.9651 shares in a 401(k) plan, noted as reflecting a periodic adjustment based on a plan statement as of September 15, 2026, along with 2,061 shares in an IRA, 702,903 shares through a limited partnership in which he is sole general partner, 1,153,938 shares in a Spousal GRAT, 399 shares attributed to a spouse account, and 172,831 shares in a Spouse Irrevocable Trust. No direct beneficial ownership is reported in Table I.

What Was Disclosed

The Form 4 filed September 18, 2026 discloses gifts and open-market sales of Best Buy common stock by Chairman Emeritus Richard M. Schulze on September 16, 2026, all transacted through a Family Foundation, along with a summary of his remaining indirect beneficial ownership across multiple accounts.