Best Buy founder and Chairman Emeritus Richard M. Schulze sold 900,000 shares of the company for approximately $74 million on July 13 and 14, 2026. The transaction was executed under a pre-established Rule 10b5-1 trading plan adopted on June 12, 2026, and involved shares held indirectly through a revocable trust. The sale represented a 7% reduction in Schulze's total equity stake, leaving him with an indirect interest of about 11.6 million shares, which constitutes 6% of Best Buy's total outstanding shares and was valued at $976.89 million based on the July 14 closing price of $83.98. The weighted average sale price was $82.21 per share, and the stock later reached a 52-week high of $87.35 on July 16. Best Buy reported fiscal first-quarter revenue of $8.9 billion and diluted earnings per share of $1.31, up from $0.95 a year earlier.
Best Buy Co. IncFounder sold $74M in shares, reducing stake by 7%, signaling insider selling despite strong earnings.