CarMax adds Cobb and Kessler to board; Starboard withdraws nominations

CARMAX INC

CarMax nominates William Cobb (CEO, Frontdoor; former H&R Block CEO) and James Kessler (CEO, RB Global) as new directors for 2026 Annual Meeting.
Both directors are independent under NYSE listing standards; no family relationships or related-party transactions disclosed.
Nominations follow constructive engagement with Starboard Value; Starboard withdraws its director nominations for 2026 meeting.
Interim Executive Chair Tom Folliard and CEO Keith Barr express support for board refreshment and long-term value creation.

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