Item 5.02.   Departure of Directors or Certain Officers; Election of Directors;

             Appointment of Certain Officers; Compensatory Arrangements of
             Certain Officers.

On April 8, 2020, CarMax, Inc. (the "Company") announced an associate furlough in response to the coronavirus pandemic. At the same time, the Company announced that President and Chief Executive Officer Bill Nash would forgo 50% of his base salary, the Company's Executive Vice Presidents and Senior Vice Presidents would also take a reduction in pay, and the Company's Board of Directors (the "Board") would forgo their cash retainer.

As of the end of July, CarMax will no longer have any associates on furlough. On July 24, 2020, the Board approved the return of Mr. Nash's base salary to its previous level, effective July 31, 2020. The Board also approved the resumption of the Board member cash retainer, effective August 1, 2020. In addition, the base salaries of the Company's Executive Vice Presidents, Senior Vice Presidents and Vice Presidents have all returned to their pre-reduction levels.

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