CARMAX INC 8-K

What Happened

• CarMax, Inc. (KMX) filed an 8-K reporting that on April 8, 2026 the Board nominated William C. Cobb (age 69) and James Kessler (age 53) to stand for election as Board nominees in the Company's 2026 Annual Meeting.
• Mr. Cobb is CEO of Frontdoor, Inc. (since 2022) and has prior CEO experience at H&R Block and senior roles at eBay and PepsiCo. Mr. Kessler is CEO of RB Global, Inc. (since 2023) with prior leadership roles at Caliber Collision, ABRA Auto Body & Glass and other automotive businesses.
• The Board determined both nominees qualify as independent directors under NYSE rules. A press release announcing the nominations was attached as Exhibit 99.1 to the filing.

Key Details

• Nomination date: April 8, 2026; 8-K filed April 9, 2026.
• Ages: William C. Cobb (69); James Kessler (53).
• Current positions: Cobb — CEO & Chair roles at Frontdoor (CEO since 2022; Chair since 2018); Kessler — CEO of RB Global (since 2023; COO 2020–2023).
• Governance: Board states no family relationships or related-party transactions involving the nominees; both will receive standard non-employee director compensation (cash retainer, annual restricted stock units, applicable board fees).

Why It Matters

• Board nominations affect corporate oversight and strategy; these nominees bring experience in consumer/technology (Cobb) and automotive operations (Kessler), relevant to CarMax's retail and service businesses.
• The independence determination and absence of related-party transactions are governance positives investors often watch.
• Investors should expect the nominees to appear in the Company’s definitive proxy for vote at the 2026 Annual Meeting; the filing does not indicate the outcome of that vote.