Richard M. Schulze Reduces Best Buy Stake to 6.1% and Adopts New 10b5-1 Trading Plan

Richard M. Schulze, the founder and former CEO of Best Buy Co., Inc., filed Amendment No. 15 to his Schedule 13D on June 2, 2026. The filing reports a reduction in his beneficial ownership to 12,859,275 shares, representing approximately 6.1% of the company's outstanding common stock. This decrease was primarily driven by open-market sales totaling 500,350 shares on May 29, 2026, at weighted average prices ranging from $75.09 to $77.69 per share. According to the filing, these sales were executed for personal asset diversification and liquidity. Additionally, Mr. Schulze adopted a pre-arranged Rule 10b5-1 trading plan (the "May 2026 Plan") effective May 29, 2026, to facilitate further sales for personal estate planning through June 2027. Other minor adjustments during the period included a gift of 20,975 shares to a third party and periodic 401(k) account adjustments. Mr. Schulze continues to hold sole voting and dispositive power over 12,156,372 shares, with shared power over 702,903 shares held through Olympus Investments Limited Partnership B.