KMX - Insider Decision Unfolding At CarMax: Diane Cafritz Exercises Options | Benzinga
Highlighted on January 24, it was unveiled in an SEC filing that Cafritz, EVP at CarMax (NYSE:KMX), executed a significant transaction involving the exercise of company stock options.
What Happened: Cafritz, EVP at CarMax, exercised stock options for 2,730 shares of KMX stock. This information was disclosed in a Form 4 filing with the U.S. Securities and Exchange Commission on Wednesday. The exercise price of the options was $63.04 per share.
As of Thursday morning, CarMax shares are up by 0.82%, with a current price of $68.0. This implies that Cafritz's 2,730 shares have a value of $13,540.
All You Need to Know About CarMax
CarMax sells, finances, and services used and new cars through a chain of about 240 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 (78% in fiscal 2023 due to the chip shortage) and wholesale about 13% (20% in fiscal 2023), with the remaining portion composed of extended service plans and repair. In fiscal 2023, the company retailed and wholesaled 807,823, and 585,071 used vehicles, respectively. CarMax is the largest used-vehicle retailer in the U.S. but still estimates that it has only about 4% U.S. market share of ...