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AI brief of an SEC Form 8-K · CarMax (KMX)

CarMax adds William Cobb and Jim Kessler to board; Starboard withdraws nominations

Neutral Impact 3 of 5 leadership Written later

CarMax said it intends to add William Cobb and Jim Kessler as directors, with both nominated for election at the 2026 Annual Meeting. The company said Starboard Value LP has agreed to withdraw its director nominations for that meeting after constructive engagement with the company.

Key points

  • William Cobb, age 69, has been CEO of Frontdoor, Inc. since 2022 and Chairman of its board since 2018.
  • Jim Kessler, age 53, has been CEO and a Director of RB Global, Inc. since 2023.
  • Starboard Value LP agreed to withdraw its director nominations for the 2026 Annual Meeting.
  • The Board determined both nominees are independent under NYSE listing standards.

The filing

CompanyCarMax (KMX)
Form8-K, current report
Filed with the SECApr 9, 2026, 4:42 PM ET
Accession number0001104659-26-041539

Items reported: 5.02 Director / Officer Change

Read the filing on SEC.gov ↗

Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 12:57 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 09, 2026.

Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.