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
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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*
Surface Carol A

(Last) (First) (Middle)
7601 PENN AVENUE S.

(Street)
RICHFIELD MN 55423

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
BEST BUY CO INC [ BBY ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
EVP, Chief HR Officer
3. Date of Earliest Transaction (Month/Day/Year)
09/20/2011
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 09/20/2011 S 10,894 D $25.3829 (1) 50,631 D
Common Stock 09/21/2011 A 1,381 (2) A $0.0000 52,012 D
Common Stock 143 I 401(k)
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 Option (Right to Buy) $24.12 09/21/2011 A 12,423 09/21/2011 (3) 09/20/2021 Common Stock 12,423 $0.0000 12,423 D
Stock Option (Right to Buy) $35.67 01/12/2011 (3) 01/11/2021 Common Stock 16,563 16,563 D
Stock Option (Right to Buy) $29.75 04/06/2011 (3) 04/05/2021 Common Stock 16,563 16,563 D
Stock Option (Right to Buy) $44.2 04/07/2010 (3) 04/06/2020 Common Stock 16,563 16,563 D
Stock Option (Right to Buy) $31.54 06/20/2011 (3) 06/19/2021 Common Stock 12,423 12,423 D
Stock Option (Right to Buy) $36.63 06/23/2010 (3) 06/22/2020 Common Stock 16,563 16,563 D
Stock Option (Right to Buy) $38.32 09/20/2010 (3) 09/19/2020 Common Stock 16,563 16,563 D
Explanation of Responses:
1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $25.38 to $25.393, inclusive. The reporting person undertakes to provide to BBY, any security holder of BBY, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
2. Restricted shares that will vest in four equal annual installments beginning one year from the grant date (September 21, 2011).
3. The date indicated is the grant date and the options vest in four equal annual installments beginning one year from such date.
/s/Lisa Beth Lentini, Attorney-in-Fact 09/22/2011
** 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).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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