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

Issuer:     CARMAX INC (KMX)
CIK:        0001170010
Form:       8-K
Filed at:   2026-07-31T20:14:46+00:00
Accession:  0001170010-26-000098
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1170010/000117001026000098/0001170010-26-000098-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1170010/000117001026000098/kmx-20260729.htm
  HTML page:      https://secwatch.observer/filing/0001170010-26-000098

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