Velarion · Company Intelligence
Compensation Brief
Fiscal year 2026 · Filings through 2026-06-24

CarMax (KMX)

Fiscal year 2026 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$14,245,563
William Nash total, FY2026
CEO pay percentile vs peers
318:1
CEO-to-median pay ratio
94.99%
Say-on-pay support, latest vote
Companies that benchmark against KMX
9 companies name KMX as a compensation peer

Each company listed discloses KMX in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named KMX in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2026

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
William Nash$927,216$0$6,024,695$5,249,987$487,226$14,932$1,541,507$14,245,563
Former President and Chief Executive Officer
David McCreight300,00003,599,999000308,6754,208,674
Interim President and Chief Executive Officer
Enrique Mayor-Mora800,96501,137,1001,024,990227,8250136,0443,326,924
EVP and Chief Financial Officer
Charles Joseph Wilson722,42301,137,1001,024,990205,4857,847125,5883,223,432
EVP and Chief Operating Officer
Diane Cafritz690,64001,137,0961,025,012196,4354,005113,2043,166,392
EVP and Chief Innovation and People Officer
Shamim Mohammad645,98101,037,116925,001183,7420118,3342,910,174
EVP and Chief Information and Technology Officer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2026 totalFY2025 totalFY2024 totalΔ FY20252026
William Nash$14,245,563$17,116,845$12,257,314−2,871,282
David McCreight4,208,674
Enrique Mayor-Mora3,326,9244,074,7632,602,432−747,839
Charles Joseph Wilson3,223,4323,865,1712,398,348−641,739
Diane Cafritz3,166,392
Shamim Mohammad2,910,1743,498,2042,394,452−588,030

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

03

Grants of plan-based awards — fiscal year 2026

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Enrique Mayor-MoraPSU2025-05-017,82215,64431,288$1,024,995
Diane CafritzPSU2025-05-017,05914,11828,236925,011
Diane CafritzOPTION2025-06-303,685100,011
Diane CafritzPSU2025-06-301,0662,13299,980
Charles Joseph WilsonPSU2025-05-018561,7113,422112,105
William NashPSU2025-05-015,91211,82423,648774,708
Shamim MohammadPSU2025-05-017,05914,11828,236925,011
Enrique Mayor-MoraPSU2025-05-018561,7113,422112,105
Enrique Mayor-MoraOPTION2025-05-0139,0771,024,990
Charles Joseph WilsonOPTION2025-05-0139,0771,024,990
Charles Joseph WilsonPSU2025-05-017,82215,64431,2881,024,995
William NashOPTION2025-05-01200,1525,249,987
Diane CafritzPSU2025-05-018561,7113,422112,105
David McCreightRSU2025-12-2691,6733,599,999
Diane CafritzOPTION2025-05-0135,265925,001
Shamim MohammadPSU2025-05-018561,7113,422112,105
Shamim MohammadOPTION2025-05-0135,265925,001
William NashPSU2025-05-0140,06480,128160,2565,249,987
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Enrique Mayor-Mora$0$1,137,100$1,024,99052.6%
Diane Cafritz01,137,0961,025,01252.6%
Charles Joseph Wilson01,137,1001,024,99052.6%
William Nash06,024,6955,249,98753.4%
Shamim Mohammad01,037,116925,00152.9%
David McCreight3,599,999000.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2026

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Diane CafritzRSU14,118$609,474
Charles Joseph WilsonRSU13,391578,089
Enrique Mayor-MoraOption23,13267.21
Charles Joseph WilsonOption6,71691.14
Diane CafritzOption8,14091.14
Diane CafritzRSU3,369145,440
Shamim MohammadOption8,14091.14
David McCreightRSU91,6733,957,523
William NashRSU80,1283,459,126
William NashRSU78,1133,372,138
Charles Joseph WilsonRSU15,644675,351
Enrique Mayor-MoraRSU13,391578,089
Enrique Mayor-MoraOption39,07765.52
Charles Joseph WilsonOption62759.24
Shamim MohammadOption35,26565.52
Enrique Mayor-MoraRSU15,644675,351
Diane CafritzRSU49121,196
William NashRSU23,2931,005,559
Shamim MohammadRSU3,369145,440
Charles Joseph WilsonRSU3,369145,440
Enrique Mayor-MoraOption18,64170.48
Charles Joseph WilsonOption23,13267.21
Diane CafritzOption18,64170.48
Charles Joseph WilsonOption39,07765.52
Diane CafritzOption3,68567.21
Shamim MohammadOption18,64170.48
Diane CafritzRSU11,903513,853
Enrique Mayor-MoraOption8,14091.14
Enrique Mayor-MoraRSU3,369145,440
Diane CafritzOption20,56267.21
Charles Joseph WilsonOption18,64170.48
Shamim MohammadRSU11,903513,853
Shamim MohammadOption20,56267.21
Diane CafritzOption35,26565.52
Shamim MohammadRSU14,118609,474
05

Incentive-plan design — the Compensation Discussion & Analysis

CarMax has a pay-for-performance philosophy. The Committee believes that the best way to implement this philosophy is by tying a significant portion of our executives total direct compensation to the attainment of our financial goals and multi-year stock price appreciation.

CEO STI target (% of salary)175%
CEO LTI target (% of salary)
Independent consultantSemler Brossy
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-23107,869,9765,685,8351,762,73494.99%Passed
20252025-06-24110,883,25215,376,5272,019,00487.82%Passed
20242024-06-25120,308,32413,766,9491,785,47489.73%Passed
20232023-06-2793,327,26639,044,5962,110,24970.5%Passed
20222022-06-28133,743,5774,824,0441,257,08096.52%Passed
20212021-06-29135,883,5215,194,1881,867,82696.32%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-06-2394.99%a
20252025-06-2487.82%b
20242024-06-2589.73%c

a. Approved under the standard stated in the filing — “Abstentions and broker non-votes will not be counted in determining the number of votes cast on Proposals One, Two, Three, and Four.”.

b. Approved under the standard stated in the filing — “Abstentions and broker non-votes will not be counted in determining the number of votes cast on Proposals One, Two, Three, and Four.”.

c. Approved under the standard stated in the filing — “Abstentions and broker non-votes will not be counted in determining the number of votes cast on Proposals One, Two, and Three.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)318 : 1
CEO total compensation$18,454,237
Median employee compensation$58,023
08

Director compensation — fiscal year 2026

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Thomas J. FolliardEmployee director · Board Chair$221,250$185,029$0$1,420,549$1,826,828
Mitchell D. SteenrodIndependent · Lead Independent Director · Audit · Nominating and Governance · Not standing for re-election158,833185,029013,640357,502
Peter J. BensenIndependent · Audit (Chair)144,000185,02905,000334,029
Sona ChawlaIndependent · Compensation and Personnel · Technology and Innovation (Chair)132,250185,0290317,279
Shira D. GoodmanIndependent · Nominating and Governance (Chair) · Compensation and Personnel · Not standing for re-election123,250185,0290308,279
Mark F. O'NeilIndependent · Compensation and Personnel (Chair) · Audit · Technology and Innovation120,167185,0290305,196
Pietro SatrianoIndependent · Audit · Technology and Innovation108,250185,0290293,279
Marcella ShinderIndependent · Nominating and Governance · Technology and Innovation102,500185,0290287,529
Ronald E. BlaylockIndependent · Compensation and Personnel · Not standing for re-election · Departed during FY32,250009132,341
William C. CobbIndependent · Technology and Innovation · Newly elected00000
Keith BarrEmployee director · Newly elected000000
James KesslerIndependent · Audit · Newly elected00000
David W. McCreightEmployee director · Compensation and Personnel · Nominating and Governance000000
William D. NashEmployee director · Departed during FY000000
Robert T. O'ShaughnessyIndependent · Audit · Newly elected00000
09

Board fee structure and ownership guideline

Annual cash retainer$95,000
Annual equity retainer$185,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)200,000
Stock ownership guideline
09b

Total cost of the board

ComponentFY2026
Cash retainers and fees$1,142,750
Equity awards (grant-date value)$1,480,232
All other compensation$1,439,280
Total cost of the board$4,062,262

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2026

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

PFGC Performance-
10a

Peer reciprocity

Of the companies CarMax names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Performance- (PFGC)

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including CarMax.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1CarMax2026William Nash$927,216$6,024,695$5,249,987$487,226$14,245,563
Performance-not in coverage universe

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
CarMax30%PSU 50 · Options 50NoSemler Brossy
Performance-not disclosednot disclosednot disclosednot disclosed

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, William NashDEF 14A2026-05-120001170010-26-000045Section “Summary Compensation Table for Fiscal 2026” · page 46. As printed: 14,245,563. Filing ↗machine: r13 · c45 · span 642071–642081
2Section 01, David McCreightDEF 14A2026-05-120001170010-26-000045Section “Summary Compensation Table for Fiscal 2026” · page 46. As printed: 4,208,674. Filing ↗machine: r2 · c45 · span 605283–605292
3Section 01, Enrique Mayor-MoraDEF 14A2026-05-120001170010-26-000045Section “Summary Compensation Table for Fiscal 2026” · page 46. As printed: 3,326,924. Filing ↗machine: r3 · c45 · span 608849–608858
4Section 01, Charles Joseph WilsonDEF 14A2026-05-120001170010-26-000045Section “Summary Compensation Table for Fiscal 2026” · page 46. As printed: 3,223,432. Filing ↗machine: r6 · c45 · span 618086–618095
5Section 01, Diane CafritzDEF 14A2026-05-120001170010-26-000045Section “Summary Compensation Table for Fiscal 2026” · page 46. As printed: 3,166,392. Filing ↗machine: r9 · c45 · span 627962–627971
6Section 01, Shamim MohammadDEF 14A2026-05-120001170010-26-000045Section “Summary Compensation Table for Fiscal 2026” · page 46. As printed: 2,910,174. Filing ↗machine: r10 · c45 · span 632130–632139
7Section 03, Enrique Mayor-Mora PSUDEF 14A2026-05-120001170010-26-000045Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: t68 · r7 · c11 · span 704861–704867
8Section 03, Diane Cafritz PSUDEF 14A2026-05-120001170010-26-000045Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: t68 · r15 · c10 · span 723563–723569
9Section 03, Diane Cafritz OPTIONDEF 14A2026-05-120001170010-26-000045Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: t68 · r17 · c14 · span 727665–727670
10Section 03, Diane Cafritz PSUDEF 14A2026-05-120001170010-26-000045Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: t68 · r18 · c11 · span 729641–729646
11Section 03, Charles Joseph Wilson PSUDEF 14A2026-05-120001170010-26-000045Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: t68 · r10 · c10 · span 712174–712179
12Section 03, William Nash PSUDEF 14A2026-05-120001170010-26-000045Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: t68 · r24 · c10 · span 744317–744323
13Section 03, Shamim Mohammad PSUDEF 14A2026-05-120001170010-26-000045Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: t68 · r21 · c11 · span 736974–736980
14Section 03, Enrique Mayor-Mora PSUDEF 14A2026-05-120001170010-26-000045Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: t68 · r6 · c10 · span 702328–702333
15Section 03, Enrique Mayor-Mora OPTIONDEF 14A2026-05-120001170010-26-000045Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: t68 · r8 · c14 · span 707404–707410
16Section 03, Charles Joseph Wilson OPTIONDEF 14A2026-05-120001170010-26-000045Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: t68 · r12 · c14 · span 717221–717227
17Section 03, Charles Joseph Wilson PSUDEF 14A2026-05-120001170010-26-000045Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: t68 · r11 · c11 · span 714707–714713
18Section 03, William Nash OPTIONDEF 14A2026-05-120001170010-26-000045Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: t68 · r26 · c13 · span 749736–749743
19Section 03, Diane Cafritz PSUDEF 14A2026-05-120001170010-26-000045Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: t68 · r14 · c10 · span 721474–721479
20Section 03, David McCreight RSUDEF 14A2026-05-120001170010-26-000045Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: t68 · r4 · c12 · span 697852–697858
21Section 03, Diane Cafritz OPTIONDEF 14A2026-05-120001170010-26-000045Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: t68 · r16 · c14 · span 725742–725748
22Section 03, Shamim Mohammad PSUDEF 14A2026-05-120001170010-26-000045Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: t68 · r20 · c10 · span 734441–734446
23Section 03, Shamim Mohammad OPTIONDEF 14A2026-05-120001170010-26-000045Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: t68 · r22 · c14 · span 739486–739492
24Section 03, William Nash PSUDEF 14A2026-05-120001170010-26-000045Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: t68 · r25 · c10 · span 746834–746840
25Section 07, pay ratioDEF 14A2026-05-120001170010-26-000045Section “CEO Pay Ratio”. As printed: 318 : 1. Filing ↗machine: span 1089094–1089102
26Section 08, Thomas J. FolliardDEF 14A2026-05-120001170010-26-000045Section “Director Compensation”. As printed: 1,826,828. Filing ↗machine: t89 · r5 · c10 · span 1205206–1205215
27Section 08, Mitchell D. SteenrodDEF 14A2026-05-120001170010-26-000045Section “Director Compensation”. As printed: 357,502. Filing ↗machine: t89 · r10 · c10 · span 1214275–1214282
28Section 08, Peter J. BensenDEF 14A2026-05-120001170010-26-000045Section “Director Compensation”. As printed: 334,029. Filing ↗machine: t89 · r2 · c10 · span 1199935–1199942
29Section 08, Sona ChawlaDEF 14A2026-05-120001170010-26-000045Section “Director Compensation”. As printed: 317,279. Filing ↗machine: t89 · r4 · c10 · span 1203465–1203472
30Section 08, Shira D. GoodmanDEF 14A2026-05-120001170010-26-000045Section “Director Compensation”. As printed: 308,279. Filing ↗machine: t89 · r6 · c10 · span 1207195–1207202
31Section 08, Mark F. O'NeilDEF 14A2026-05-120001170010-26-000045Section “Director Compensation”. As printed: 305,196. Filing ↗machine: t89 · r7 · c10 · span 1208749–1208756
32Section 08, Pietro SatrianoDEF 14A2026-05-120001170010-26-000045Section “Director Compensation”. As printed: 293,279. Filing ↗machine: t89 · r8 · c10 · span 1210735–1210742
33Section 08, Marcella ShinderDEF 14A2026-05-120001170010-26-000045Section “Director Compensation”. As printed: 287,529. Filing ↗machine: t89 · r9 · c10 · span 1212285–1212292
34Section 08, Ronald E. BlaylockDEF 14A2026-05-120001170010-26-000045Section “Director Compensation”. As printed: 32,341. Filing ↗machine: t89 · r3 · c10 · span 1201671–1201677
35Section 08, William C. CobbDEF 14A2026-05-120001170010-26-000045Section “Director Compensation”. As printed: 0. Filing ↗
36Section 08, Keith BarrDEF 14A2026-05-120001170010-26-000045Section “Director Compensation”. As printed: 0. Filing ↗
37Section 08, James KesslerDEF 14A2026-05-120001170010-26-000045Section “Director Compensation”. As printed: 0. Filing ↗
38Section 08, David W. McCreightDEF 14A2026-05-120001170010-26-000045Section “Director Compensation”. As printed: 0. Filing ↗
39Section 08, William D. NashDEF 14A2026-05-120001170010-26-000045Section “Director Compensation”. As printed: 0. Filing ↗
40Section 08, Robert T. O'ShaughnessyDEF 14A2026-05-120001170010-26-000045Section “Director Compensation”. As printed: 0. Filing ↗
41Section 06, 2026 voteForm 8-K2026-06-240001170010-26-000057Item 5.07 · say-on-pay result. As reported: 94.99% (votes for as printed: 107,869,976). Filing ↗
42Section 06, 2025 voteForm 8-K2025-06-260001170010-25-000086Item 5.07 · say-on-pay result. As reported: 87.82% (votes for as printed: 110,883,252). Filing ↗
43Section 06, 2024 voteForm 8-K2024-06-270001170010-24-000088Item 5.07 · say-on-pay result. As reported: 89.73% (votes for as printed: 120,308,324). Filing ↗
44Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
45Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
46Section 09b board cost (computed)ComputedcomputedCash 1,142,750 + equity 1,480,232 + all other 1,439,280 = 4,062,262, summed across the director compensation table rows.machine: formula: Σ = 4,062,262
47CarMax (subject), Section 10b CEO totalDEF 14A2026-05-120001170010-26-000045CEO total compensation as printed in CarMax's own proxy. As printed: 14,245,563. Filing ↗machine: r13 · c45 · span 642071–642081