CarMax Auto Funding LLC: enters underwriting agreement for $1,333,122,000 of asset-backed notes

What happened The filing says on Oct 14, 2026 CarMax Business Services, LLC and CarMax Auto Funding LLC entered into an Underwriting Agreement with MUFG Securities Americas Inc., as representative, under which the several underwriters agreed to purchase $1,333,122,000 aggregate principal balance of various classes of asset-backed notes to be issued by CarMax Auto Owner Trust 2026-4. The filing says the sale of the offered notes has been registered under the Securities Act on Form SF-3 (Commission File No. 333-288943), filed Jul 25, 2025, and that the notes are anticipated to be issued on or about Oct 21, 2026. The filing also says a final prospectus dated Oct 14, 2026 was filed describing the collateral pool and note structure.

Key details

• Underwriting Agreement dated Oct 14, 2026: underwriters to purchase $1,333,122,000 aggregate principal balance of notes.
• Offered notes by class (aggregate principal): Class A-1 $253,787,000; Class A-2a $268,106,000; Class A-2b $197,500,000; Class A-3 $465,606,000; Class A-4 $81,310,000; Class B $23,384,000; Class C $25,388,000; Class D $18,041,000.
• The filing says on the issuance date the Depositor will initially retain $16,878,000 aggregate principal amount of retained notes and that multiple transaction documents will be entered, including a receivables purchase agreement, sale and servicing agreement, indenture with U.S. Bank Trust Company as indenture trustee, administration agreement, asset representations review agreement and securities account control agreement.
• The filing includes legal opinions and a CEO certification required by Form SF-3.

Why it may matter This filing reports an Item 1.01 material definitive agreement (the underwriting agreement) and Item 8.01 other events (the final prospectus and related transaction documents describing the notes, collateral and servicing). This filing does not show why the insider traded or why the company acted.