CARMAX INC — Director's Dealing 2011

Jul 1, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARMAX INC (KMX)
CIK: 0001170010
Period of Report: 2011-06-29

Reporting Person: KUNKEL JOSEPH S (SVP Mktg and Strategy)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-06-29	Common Stock	M	43356	$14.80	Acquired	171174	Direct
2011-06-29	Common Stock	S	43356	$33.27	Disposed	127818	Direct
2011-06-30	Common Stock	M	6644	$14.80	Acquired	134462	Direct
2011-06-30	Common Stock	S	6644	$33.06	Disposed	127818	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-06-29	Stock Options (Right to Buy)	$14.80	M	43356	Disposed	2014-04-01	Common Stock (43356)	Direct
2011-06-30	Stock Options (Right to Buy)	$14.80	M	6644	Disposed	2014-04-01	Common Stock (6644)	Direct

Footnotes

F1: The shares with respect to this transaction were sold at prices ranging from $33.25 to $33.36. Upon request, the Reporting Person will provide the Securities and Exchange Commission staff, the Issuer, or any security holder of the Issuer, full information regarding the number of shares sold at each separate price.

F2: The shares with respect to this transaction were sold at prices ranging from $33.05 to $33.10. Upon request, the Reporting Person will provide the Securities and Exchange Commission staff, the Issuer, or any security holder of the Issuer, full information regarding the number of shares sold at each separate price.

F3: This option was previously reported as covering 50,000 shares at an exercise price of $29.605 per share, but was adjusted to reflect the Issuer's 2-for-1 stock split in the form of a share dividend, which occurred on March 26, 2007.