Tuite Tyler 4

What Happened Tyler Tuite, SVP & Chief Product Officer of CarMax (KMX), had market stock units (MSUs) vest on March 22, 2026. A total of 1,294 MSUs vested (986 and 308 in two awards), which converted into 611 and 195 shares, respectively — 806 shares in total. The filing shows the derivative items disposed at $0, reflecting conversion/settlement of MSUs rather than a cash sale or purchase. The awarded shares will be settled in common stock and will not be distributed to Tuite for at least six months after the March 22, 2026 vesting date.

Key Details

• Transaction date: March 22, 2026; Form 4 filed March 24, 2026 (appears timely).
• Vested MSUs: 986 MSUs → 611 shares (conversion factor ≈ 0.619183); 308 MSUs → 195 shares (conversion factor ≈ 0.632555).
• Total: 1,294 MSUs vested → 806 shares to be received.
• Forfeited: 492 MSUs from the first grant and 154 MSUs from the second grant were forfeited per footnotes.
• Prices reported: derivative dispositions recorded at $0 (no cash sale); acquisitions listed with N/A price because shares are deferred.
• Settlement: MSUs will be settled in Company common stock and distribution is deferred at least six months (per footnotes).
• Shares owned after transaction: Not specified in the filing.

Context The filing uses transaction code "M" (exercise/conversion of a derivative) to report MSU vesting and conversion into shares — not an open-market buy or sell. These are compensation-related vesting events; the deferred distribution restriction means the received shares cannot be sold immediately. Such filings are routine for equity compensation and do not alone indicate the insider’s trading intent.