secwatch.observer — SEC 8-K summary
======================================

Issuer:     CARMAX INC (KMX)
CIK:        0001170010
Form:       8-K
Filed at:   2026-03-02T23:59:59+00:00
Accession:  0001170010-26-000006
Event type: other_material
Sentiment:  neutral
Materiality: 0.25
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1170010/000117001026000006/0001170010-26-000006-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1170010/000117001026000006/kmx-20260301.htm
  HTML page:      https://secwatch.observer/filing/0001170010-26-000006

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer