Download Employee Stock Purchase Plan Highlights

Employee Stock Purchase
Plan Highlights
Effective: 01/01/2017; Updated: 12/31/2016
Eligibility
Regular Full-Time and Part-Time Associates are eligible after 1 year of service.
Enrollment
 Shortly after you become eligible to participate in the Plan, you will receive a notification in your
Workday In Box alerting you of your eligibility status. You may enroll at any time after you become
eligible. Your payroll deductions will begin as soon as administratively feasible – usually 1 to 2 pay
cycles.
 Enroll online at www-us.computershare.com/employee. To enroll by phone or request an
enrollment packet, call (866) 322-7629.
Associate Contributions
You may contribute from 2% to 10% of your pay, in 1% increments, on an after-tax basis. Pre-tax
contributions are not allowed. Your total maximum contribution in any one calendar year is $7,500.
Company Matching
Contributions
For every $1.00 you contribute, CarMax will contribute $0.15 to your purchase. This Company Match
is added to your payroll deductions each month when the stock is purchased.
Monthly Share Purchases
Price:
 If shares are purchased on the open market, the purchase price is the average selling price of
Common Stock on the open market during a 2- to 3-day period paid by Computershare.
 If shares are purchased from CarMax, the share price is the closing price of the Common Stock on
the New York Stock Exchange on the last business day of the payroll deduction month.
Timing:
 The shares are credited to your account by the 10th business day of the month after the payroll
deduction month.
Changing or Stopping
Contributions
You may change or stop contributions at www-us.computershare.com/employee or by calling
(866) 322-7629. You can re-enroll at any time.
Payroll deduction changes will be as soon as administratively feasible – usually 1 or 2 pay cycles.
Additional Information
CarMax pays all expenses associated with Plan purchases while you remain an Associate. Your
money is fully invested in stock.
You may sell or transfer your stock at any time. You will pay all commission and transaction fees on
the sale of your stock. Sales transactions cost $0.03 per share, with a $19.95 minimum transaction
fee. You may also transfer your stock to another brokerage firm for a $30 transfer fee.
You will receive an annual statement from Computershare that includes the market value of your
account and information regarding purchases and sales made during the year. Quarterly statements
will be available on the Computershare website.
This summary provides Employee Stock Purchase Plan Highlights and does not include all plan information. Refer to the Prospectus for
details. If there is a conflict, the Plan Document will govern.
Effective: 01/01/2017
Updated: 12/31/2016
Online in CarMax World or at benefits.carmax.com
Page 1 of 1