Best Buy Chairman Emeritus Sells and Gifts Shares Worth $27.8 Million Amid Rising Stock Price
Richard M. Schulze, Best Buy Co., Inc.'s (NYSE:BBY) Chairman Emeritus, sold 300,000 shares of the company's stock for approximately $27.8 million and gifted another 300,000 shares in a transaction reported via an SEC Form 4 filing on September 16, 2026. The sale occurred at a weighted average price of $92.51 per share as the company's stock continued to rise, reaching a 52-week high shortly after Schulze’s transactions. Schulze conducted these transactions through indirect vehicles such as revocable trusts and family foundations rather than directly from his personal holdings. Despite this large-scale transaction, he still holds over 11 million shares indirectly across multiple entities including trusts, retirement accounts, and limited partnerships. Best Buy's stock closed at $92.45 on the day of the sale, reflecting a strong one-year total return of approximately 25%. The company remains a major player in North America’s technology retail sector with a market cap exceeding $19 billion. Its omnichannel strategy and broad product offerings continue to support its position as a leading consumer electronics retailer.
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