Short answer
Carmax Inc (KMX) filed an 8-K current report with the SEC on March 2, 2026 reporting Item 5.02 (Departure/Election of Directors or Officers). Severance trigger: termination without cause or resignation for good reason within 2-year window post change-in-control.
Carmax Inc 8-K event analysis
AI summary of each reported item and its exhibits
Item 5.02 · Departure/Election of Directors or Officers
- Severance trigger: termination without cause or resignation for good reason within 2-year window post change-in-control
- Cash payout: 1.5x combined base salary + target bonus, paid over 39 biweekly installments (~18 months)
- COBRA coverage: company pays its portion of premiums for up to 18 months post-separation
- Applies to named executives Mayor-Mora, Wilson, and Mohammad, plus other executive officers
- Key change from prior agreements: 1.5x multiplier structure now explicitly codified; all other terms substantially unchanged
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
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