KMX - EVP At CarMax Exercises Options Worth $101K | Benzinga
Diane Cafritz, EVP at CarMax (NYSE:KMX), reported a large exercise of company stock options on April 25, according to a new SEC filing.
What Happened: The latest Form 4 filing on Thursday with the U.S. Securities and Exchange Commission uncovered Cafritz, EVP at CarMax, exercising stock options for 15,356 shares of KMX. The total transaction was valued at $101,349.
The Friday morning update indicates CarMax shares up by 0.61%, currently priced at $69.64. At this value, Cafritz's 15,356 shares are worth $101,349.
All You Need to Know About CarMax
CarMax sells, finances, and services used and new cars through a chain of around 250 used retail stores. It was formed in 1993 as a unit of Circuit City and spun off into an independent company in late 2002. Used-vehicle sales typically account for about 83% of revenue (79% in fiscal 2024 due to the chip shortage) and wholesale about 13% (19% in fiscal 2024), with the remaining portion composed of extended service plans and repair. In fiscal 2024, the company retailed and wholesaled 765,572, and 546,331 used vehicles, respectively. CarMax is the largest used-vehicle retailer in the US but still estimates that it had only about 3.7% US market share of vehicles 0-10 years old in 2023. It seeks over 5% share a ...