SEC Form 4 · accession 0001140361-15-014944
CARMAX INC · KMX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Eric M Margolin
Officer — SVP, Gen. Counsel & Secretary
Period of report
Apr 8, 2015
Accepted (ET)
Apr 9, 2015 · 4:42 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001170010
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Options (Right to Buy)F1,F2 | $73.76 | Apr 8, 2015 | A | 52,532 | A | — | Apr 8, 2022 | Common Stock | 52,532 | 52,532 | D |
Explanation of responses
- F1The stock options were granted in tandem with stock appreciation rights (SARS). Accordingly, the exercise of one results in the surrender to the Company of the other. 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.
- F2The stock options become exercisable with respect to one-fourth of the underlying shares of Common Stock on each of April 8, 2016, April 8, 2017, April 8, 2018 and April 8, 2019.
Remarks
Exhibit List: Exhibit 24.1 - Power of Attorney