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Best Buy CEO granted waiver to sell stock due to divorce

Best Buy disclosed in a regulatory filing that on September 10 CEO Hubert Joly exercised and sold 350,467 stock options and sold 100,686 shares in the registrant on the open market on September 6, due to circumstances relating to his marital dissolution which was concluded on June 24. As reflected in the Form 4, Joly's holdings remain substantially in excess of his 140,000 share ownership target under the company's Executive Stock Ownership Guidelines following the reported transaction, Best Buy stated.