<SEC-DOCUMENT>0001140361-15-014944.txt : 20150409
<SEC-HEADER>0001140361-15-014944.hdr.sgml : 20150409
<ACCEPTANCE-DATETIME>20150409164201
ACCESSION NUMBER:		0001140361-15-014944
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20150408
FILED AS OF DATE:		20150409
DATE AS OF CHANGE:		20150409

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CARMAX INC
		CENTRAL INDEX KEY:			0001170010
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-AUTO DEALERS & GASOLINE STATIONS [5500]
		IRS NUMBER:				541821055
		STATE OF INCORPORATION:			VA
		FISCAL YEAR END:			0215

	BUSINESS ADDRESS:	
		STREET 1:		12800 TUCKAHOE CREEK PARKWAY
		CITY:			RICHMOND
		STATE:			VA
		ZIP:			23238
		BUSINESS PHONE:		804-747-0422

	MAIL ADDRESS:	
		STREET 1:		12800 TUCKAHOE CREEK PARKWAY
		CITY:			RICHMOND
		STATE:			VA
		ZIP:			23238

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MARGOLIN ERIC M
		CENTRAL INDEX KEY:			0001236893

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31420
		FILM NUMBER:		15761805

	MAIL ADDRESS:	
		STREET 1:		C/O ADVANCE AUTO PARTS
		STREET 2:		5673 AIRPORT RD
		CITY:			ROANOKE
		STATE:			VA
		ZIP:			24012
</SEC-HEADER>
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<DESCRIPTION>FORM 4
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    <periodOfReport>2015-04-08</periodOfReport>

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        <issuerCik>0001170010</issuerCik>
        <issuerName>CARMAX INC</issuerName>
        <issuerTradingSymbol>KMX</issuerTradingSymbol>
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            <rptOwnerName>MARGOLIN ERIC M</rptOwnerName>
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            <rptOwnerStreet1>12800 TUCKAHOE CREEK PKWY</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>RICHMOND</rptOwnerCity>
            <rptOwnerState>VA</rptOwnerState>
            <rptOwnerZipCode>23238</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>SVP, Gen. Counsel &amp; Secretary</officerTitle>
            <otherText></otherText>
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    <nonDerivativeTable></nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Options (Right to Buy)</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>73.76</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2015-04-08</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>52532</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
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            <exerciseDate>
                <footnoteId id="F2"/>
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            <expirationDate>
                <value>2022-04-08</value>
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            <postTransactionAmounts>
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    <footnotes>
        <footnote id="F1">The stock options were granted in tandem with stock appreciation rights (SARS). Accordingly, the exercise of one results in the surrender to the Company of the other. The SARS become exercisable only following a change in control of the Company as set forth in the Company's 2002 Stock Incentive Plan, as amended and restated. Once exercisable, the SARS would entitle the Reporting Person to receive the cash value of the options in lieu of exercising the options.</footnote>
        <footnote id="F2">The stock options become exercisable with respect to one-fourth of the underlying shares of Common Stock on each of April 8, 2016, April 8, 2017, April 8, 2018 and April 8, 2019.</footnote>
    </footnotes>

    <remarks>Exhibit List:

Exhibit 24.1 - Power of Attorney</remarks>

    <ownerSignature>
        <signatureName>Christine Carter,  attorney-in-fact</signatureName>
        <signatureDate>2015-04-09</signatureDate>
    </ownerSignature>
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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; MARGIN-RIGHT: 0pt">The undersigned with respect to the matters described herein constitutes and appoints Natalie Wyatt, Thomas Reedy, Lisa Lee, <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">Christine Carter,</font> John Stuckey, Terence Rasmussen and Will Hulcher, each of whom may act individually, as my true and lawful attorney-in-fact to:</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Execute for and on behalf of the undersigned, in the undersigned&#8217;s capacity as an officer and/or director of CarMax Inc. (the &#8220;Company&#8221;), Forms 3, 4, and 5 (or any amendments thereto) in accordance with Section 16(a) of the Securities Exchange Act of 1934 and the rules thereunder;</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Do and perform any and all acts for and on behalf of the undersigned that may be necessary or desirable to complete and execute any such Forms 3, 4, and 5 (or any amendments thereto) and timely file such forms with the United States Securities and Exchange Commission and any stock exchange or similar authority; and</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Take any other action of any type whatsoever in connection with the foregoing that, in the opinion of such attorney-in-fact, may be of benefit to, in the best interest of, or legally required by, the undersigned. The undersigned understands and confirms that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain such terms and conditions as such attorney-in-fact may approve in such attorney-in-fact&#8217;s discretion.</div>
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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; MARGIN-RIGHT: 0pt">The undersigned hereby grants to such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary, or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that such attorney-in-fact shall lawfully do or cause to be done by virtue of this power of attorney and the rights and powers herein granted.&#160;&#160;The undersigned acknowledges that the forgoing attorney-in-fact, in serving in such capacity at the request of the undersigned, is not assuming, nor is the Company assuming, any of the undersigned&#8217;s responsibilities to comply with Section 16 of the Securities Exchange Act of 1934.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; MARGIN-RIGHT: 0pt">This Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file Forms 3, 4, and 5 with respect to the Company.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; MARGIN-RIGHT: 0pt">IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed as of this 31<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">st</font> day of October, 2014.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 0pt; DISPLAY: block; FONT-FAMILY: times new roman; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; MARGIN-RIGHT: 0pt">/s/ Eric M. Margolin</div>
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