SEC Form 4 · accession 0001225208-16-034559
BEST BUY CO INC · BBY
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Hubert Joly
Officer — Chairman & CEO · Director
Period of report
Jun 2, 2016
Accepted (ET)
Jun 3, 2016 · 4:37 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000764478
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jun 2, 2016 | S | 398,000 | $32.2371 | D | 511,139 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (Right to Buy)F2 | $40.85 | holding | — | — | — | Mar 12, 2015 | Mar 11, 2025 | Common Stock | 158,445 | 158,445 | D |
| Stock Option (Right to Buy)F2 | $31.79 | holding | — | — | — | Mar 15, 2016 | Mar 14, 2026 | Common Stock | 223,890 | 223,890 | D |
| Stock Option (Right to Buy)F2 | $23.66 | holding | — | — | — | Apr 16, 2013 | Apr 15, 2023 | Common Stock | 250,358 | 250,358 | D |
| Stock Option (Right to Buy)F2 | $29.91 | holding | — | — | — | Aug 18, 2014 | Aug 17, 2024 | Common Stock | 183,990 | 183,990 | D |
| Stock Option (Right to Buy)F2 | $18.02 | holding | — | — | — | Sep 4, 2012 | Sep 3, 2022 | Common Stock | 350,468 | 350,468 | D |
Explanation of responses
- F1The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $32.06 to $32.49, inclusive. The reporting person undertakes to provide to BBY, any security holder of BBY, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
- F2The date indicated is the grant date and the options vest in three equal annual installments beginning one year from such date.
Remarks
The purpose of Mr. Joly's sale is diversification of his portfolio. He continues to exceed his officer stock ownership requirement with holdings of approximately $40 million in vested and unvested BBY shares, stock units and options.