CarMax amends severance agreements for three named executives; 1.5x multiplier after change in control

CARMAX INC

Amended agreements with Enrique Mayor-Mora, Charles Joseph Wilson, and Shamim Mohammad, effective March 1, 2026.
Severance equal to 1.5x (base salary + target bonus) payable in 39 biweekly installments if terminated without cause or for good reason within 2 years post-change-in-control.
COBRA premium subsidy for up to 18 months included in severance benefits.
Other terms substantially similar to prior agreements; no change in executive roles.
Agreements subject to compliance with non-compete and release requirements.

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