On April 30, 2024, Best Buy Co., Inc announced that it has received a shareholder proposal from John Chevedden regarding board to adopt a policy to seek shareholder approval of senior managers? new or renewed pay package that provides for golden parachute payments with an estimated value exceeding 2.99 times the sum of the executive?s base salary plus target short-term bonus. This proposal only applies to Named Executive Officers.

In addition, the Company urged shareholders to vote against the proposal at its annual general meeting of shareholders scheduled to be held on June 12, 2024.