KMX - Options Movement At CarMax: John Stuckey III Exercises Worth $388K | Benzinga
A substantial insider activity was disclosed on July 16, as III, SVP at CarMax (NYSE:KMX), reported the exercise of a large sell of company stock options.
What Happened: In an insider options sale disclosed in a Form 4 filing on Tuesday with the U.S. Securities and Exchange Commission, III, SVP at CarMax, exercised stock options for 19,673 shares of KMX. The transaction value amounted to $388,738.
During Wednesday's morning session, CarMax shares down by 1.45%, currently priced at $82.8. Considering the current price, III's 19,673 shares have a total value of $388,738.
Discovering CarMax: A Closer Look
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 ...