SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* Smith Richard Murray (Last) (First) (Middle) 12800 TUCKAHOE CREEK PARKWAY (Street) RICHMOND VA 23238 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol CARMAX INC [ KMX ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) Senior Vice President & CIO
	3. Date of Earliest Transaction (Month/Day/Year) 04/12/2013
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	04/12/2013		M		85,000	A	$19.82	208,193	D
Common Stock	04/12/2013		M		40,000	A	$13.19	248,193	D
Common Stock	04/12/2013		S		6,889	D	(1)	241,304	D
Common Stock	04/12/2013		S		125,000	D	(2)	116,304	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Options (Right to Buy)	$19.82	04/12/2013		M			85,000	04/07/2009	04/07/2015	Common Stock	85,000	$0.00	0	D
Stock Options (Right to Buy)(3)	$13.19	04/12/2013		M			40,000	06/24/2006	06/24/2015	Common Stock	40,000	$0.00	0	D
Restricted Stock Units	$0.00(4)	04/15/2013		A		5,686		(5)	(4)(5)	Common Stock	(4)	$0.00	5,686	D
Stock Options (Right to Buy)	$42.68	04/15/2013		A		57,757		04/15/2014(6)	04/15/2020	Common Stock	57,757	$0.00	57,757	D
SARS	$42.68	04/15/2013		A		57,757		04/15/2014(7)	04/15/2020	Common Stock	57,757	$0.00	57,757	D

Explanation of Responses:

1. The shares with respect to this transaction were sold at prices ranging from $44.21 to $44.28. 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.

2. The shares with respect to this transaction were sold at prices ranging from $44.02 to $44.21. 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.

3. This option was previously reported as covering 20,000 shares at an exercise price of $26.38, 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.

4. Shares of Company common stock will be issued to the Reporting Person following vesting of the restricted stock units, which are referred to by the Company as market stock units (MSUs), in accordance with the terms of the Form of Notice of Market Stock Unit Grant filed as Exhibit 10.2 to the Company's Current Report on Form 8-K filed on December 23, 2011. The minimum number of shares of Company common stock that will be issued to the Reporting Person at payment is zero, and the maximum number of shares of Company common stock that will be issued at payment is two times the number of MSUs.

5. The restricted stock units shall vest on April 15, 2016.

6. The stock options are exercisable with respect to one-fourth of the underlying shares of Company common stock on each of April 15, 2014, April 15, 2015, April 15, 2016 and April 15, 2017.

7. The stock options and stock appreciation rights (SARs) were granted in tandem. Accordingly, the exercise of one results in the surrender to the Issuer of the other. The SARs, which will entitle the Reporting Person to receive the cash value of the options in lieu of exercising the options, become exercisable only following a change in control of the Issuer as set forth in the Issuer's 2002 Stock Incentive Plan, as amended and restated, a copy of which is attached as Exhibit 10.1 to the Company's Current Report on Form 8-K filed on June 29, 2012.

Remarks:

	Lisa Ferron Lee	04/16/2013
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
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