---
schema_version: "secwatch.filing_event.v1"
accession: "0001170010-26-000098"
form_type: "8-K"
ticker: "KMX"
cik: "0001170010"
company_name: "CARMAX INC"
filed_at: "2026-07-31T20:14:46+00:00"
generated_at: "2026-07-31T20:16:18.497022+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# CarMax EVP and Chief Innovation and People Officer Diane Cafritz to depart Dec 31, 2026; enters consulting agreement

## Summary
- Diane Cafritz, EVP and Chief Innovation and People Officer, will leave CarMax effective December 31, 2026.
- Severance modified: Cafritz receives 1.5x base salary plus full FY2027 actual bonus instead of 1.5x base+target bonus.
- Consulting agreement from Jan 1 to June 30, 2027, pays $60,083.33/month ($360,500 total) for consulting services.
- Non-compete and non-solicitation covenants extended by six months to 2.5 years from departure date.

## SEC filing metadata
- accession: 0001170010-26-000098
- form_type: 8-K
- ticker: KMX
- cik: 0001170010
- company_name: CARMAX INC
- filed_at: 2026-07-31T20:14:46+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1170010/000117001026000098/0001170010-26-000098-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1170010/000117001026000098/kmx-20260729.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001170010-26-000098
- JSON: https://secwatch.observer/filing/0001170010-26-000098.json
- Plain text: https://secwatch.observer/filing/0001170010-26-000098.txt

## Key facts
- Executive change
  Diane Cafritz departed as Executive Vice President and Chief Innovation and People Officer at CARMAX INC.
  - Action: leaving
  - Role: Executive Vice President and Chief Innovation and People Officer
  source text: On July 31, 2026, CarMax, Inc. (the “Company”) announced that Diane Cafritz, the Company’s Executive Vice President and Chief Innovation and People Officer, will be leaving the Company effective December 31, 2026.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1170010/000117001026000098/0001170010-26-000098-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.