KMX - Insider Move: William Nash Exercises Options Realizing $1.94M At CarMax | Benzinga
A significant insider transaction involving the exercise of company stock options was reported on December 28, by William Nash, President & CEO at CarMax (NYSE:KMX), as per the latest SEC filing.
What Happened: A Form 4 filing with the U.S. Securities and Exchange Commission on Thursday revealed that Nash, President & CEO at CarMax in the Consumer Discretionary sector, exercised stock options for 102,775 shares of KMX stock. The exercise price of the options was $58.38 per share.
CarMax shares are currently trading down by 0.8%, with a current price of $77.22 as of Friday morning. This brings the total value of Nash's 102,775 shares to $1,936,280.
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 ...