Fundz

CARMAX INC

Automotive, E Commerce, Other · 31,000 employees

Funding history

  • Debt Financing — $500.0M — Jun 2026
  • Debt Financing — $750.0M — Feb 2026
  • Venture - Series Unknown — $98.2M — Jun 2021

Recent signals

  • Jun 23, 2026: SEC 8-K (5.02): On June 23, 2026, at the CarMax, Inc. Annual Meeting of Shareholders, shareholders approved amendments to the CarMax, Inc. 2002 Stock Incentive Plan. These amendments include an increase in the number of shares reserved for issuance under the plan by 1,842,000 shares, establishing a minimum vesting requirement for incentive awards with limited exceptions, prohibiting dividend payments on unvested incentive awards, and extending the termination date of the plan. This change is aimed at enhancing equity compensation to both employees and non-employee directors, thereby aligning their interests with those of shareholders.
  • Jun 17, 2026: SEC 8-K (2.03): On June 15, 2026, CarMax, Inc. and CarMax Auto Superstores, Inc. entered into a term loan credit agreement with MUFG Bank, Ltd. for a total principal amount of $500,000,000. This Credit Agreement provides a term loan facility that will mature on June 15, 2029, allowing the Borrower to utilize the funds for business operations and growth initiatives. The significance of this financing reflects CarMax's strategy to enhance liquidity and support its operational needs in an uncertain economic environment. This event is particularly crucial as it underscores CarMax's financial positioning and planned investments over the coming years.
  • Jun 17, 2026: Raised $500.0M in Debt Financing
  • Jun 08, 2026: CarMax Appoints New Principal Accounting Officer
  • Jun 03, 2026: SEC 8-K (5.02): On June 3, 2026, CarMax, Inc. announced the planned retirement of Jill Livesay, the Vice President, Controller, and Principal Accounting Officer, effective July 31, 2026. This decision was not due to any disagreement regarding the company's operations or practices. To fill her vacancy, Enrique N. Mayor-Mora, the current Executive Vice President and Chief Financial Officer, has been appointed as the new Principal Accounting Officer, effective upon Ms. Livesay's retirement. This transition may impact the company’s financial oversight and reporting practices as it gains a new accounting leader.
  • May 12, 2026: SEC 8-K (5.02): On May 12, 2026, CarMax, Inc. announced plans to add Robert T. O’Shaughnessy to its Board of Directors, contingent upon shareholder approval at the upcoming 2026 Annual Meeting of Shareholders. This change is part of a management transition that includes the retirement of Shira Goodman and Mitchell Steenrod, who will not stand for re-election at the Annual Meeting. Mr. O’Shaughnessy, age 60, has significant experience in financial and operational leadership within industries, including direct expertise in the auto sector, which is expected to be beneficial for CarMax's strategic direction. His appointment is seen as bringing valuable insights into shifting market dynamics, with his previous role as Executive Vice President of PulteGroup, Inc. ending in March 2026.
  • Mar 01, 2026: SEC 8-K (5.02): On March 1, 2026, CarMax, Inc. entered into amended and restated severance agreements with several executive officers, including Enrique Mayor-Mora, Charles Joseph Wilson, and Shamim Mohammad. These agreements amend and supersede the existing severance arrangements for these executives. Significant conditions include provisions for termination of employment without cause, which would activate specific severance benefits, and stipulations allowing executives to resign for good reason within two years following a change in control. This reflects a strategic adjustment to attract and retain key management talent in the context of potential corporate transitions.
  • Feb 20, 2026: Raised $750.0M in Debt Financing

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