Thomas J. Folliard served as the CEO of CarMax from June 2006 until his retirement in August 2016. He joined CarMax in 1993, starting as a senior buyer, and climbed the ranks rapidly. His hands-on experience helped him shape the...

Thomas J. Folliard served as the CEO of CarMax from June 2006 until his retirement in August 2016. He joined CarMax in 1993, starting as a senior buyer, and climbed the ranks rapidly. His hands-on experience helped him shape the company's purchasing process and auction system for cars. During his time as CEO, CarMax expanded its market presence significantly. Interestingly, Folliard's compensation in fiscal year 2016 totaled over $1 million, with his salary making up a portion of that. He retired amidst a well-structured succession plan that saw William D. Nash take over leadership. Under Folliard, CarMax adopted long-term performance incentives that directly linked executive compensation to the company's success, reflecting a strong pay-for-performance strategy. Folliard's insider trading activity also highlights his deep commitment to the company's growth, managing shares worth tens of millions across several years, showing confidence in the direction of CarMax. His length of service and experience in various roles demonstrate a solid understanding of both the company and the retail automobile industry.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other CarMax CEOs

C

Thomas J. Folliard

Ex-CEO of CarMax

Education

Not specified

Field of Expertise

Consumer Goods & Retail - Retail

Sector of Economy

Consumer Cyclical

Born

June 13, 1965 - 59 years ago

CEO of CarMax for

10 years 0 months (Aug 2006 - Aug 2016)

Previous Experience

Worked at Circuit City

Rivals

Competitors/colleagues of Thomas J. Folliard

A

Mike Jackson

CEO of AutoNation

2023 Compensation

Stock

$0.00

Salary

$1.30M

Bonus

$0.00

Other

$112.74K

Total Holdings

$18.83M

P

Roger S. Penske

CEO of Penske Automotive Group

2021 Compensation

Stock

$7.50M

Salary

$1.40M

Bonus

$0.00

Other

$581.69K

Total Holdings

$5.12B

T

Elon Musk

Founder and CEO of Tesla, Inc.

2023 Compensation

Stock

$1.86M

Salary

$0.00

Bonus

$0.00

Other

$0.00

Total Holdings

$92.56B

L

Bryan B. DeBoer

CEO of Lithia Motors

2023 Compensation

Stock

$3.98M

Salary

$1.30M

Bonus

$2.67M

Other

$7.26K

Total Holdings

$51.43M

A

Michael Manley

CEO of AutoNation

2023 Compensation

Stock

$0.00

Salary

$1.30M

Bonus

$0.00

Other

$112.74K

Total Holdings

$8.82M

Holdings

See how much did Thomas J. Folliard make over time.

During his time at CarMax, Thomas J. Folliard's stock holdings showed significant fluctuations. His holdings peaked with values surpassing $33 million in 2021, reflecting strong confidence in CarMax's trajectory. However, he also managed substantial declines, with values dropping to around...

During his time at CarMax, Thomas J. Folliard's stock holdings showed significant fluctuations. His holdings peaked with values surpassing $33 million in 2021, reflecting strong confidence in CarMax's trajectory. However, he also managed substantial declines, with values dropping to around $15 million by late 2021. This volatility captured the dynamic nature of the retail automotive market and Folliard’s deep stake in the company's success. When he started as the CEO, the holdings were considerably lower, showing how his role was intertwined with stock performance. Over the years, his wealth in holdings fluctuated dramatically, indicating not just personal investment but also the faith he had in the growth of CarMax.

Total Stock Sold

$223.14M

KMX

$223.14M

3,417,769 KMX shares

What if they kept their stock?

If Thomas J. Folliard didn't sell their stock, today they would have:
Extra KMX3,417,769 shares worth $298.34M.
This is 33.7% and $75.20M more than what they got when they sold the stock.

Charitable Transactions

KMX

43,757 shares

KMX

Recent Charitable Transactions

KMX

5,000 shares

KMX

Jul 14, 2021

Charity

KMX

5,000 shares

KMX

Jul 23, 2020

Charity

KMX

5,000 shares

KMX

Feb 29, 2020

Charity

KMX

10,000 shares

KMX

Jun 26, 2018

Charity

KMX

8,000 shares

KMX

Jun 23, 2017

Charity

KMX

10,000 shares

KMX

Dec 23, 2014

Charity

Insider Trading

See recent insider trades of Thomas J. Folliard.

KMX

2,598 shares

KMX

Jul 1, 2024

Received

KMX

2,210 shares

KMX

Jun 30, 2023

Received

KMX

1,996 shares

KMX

Jul 1, 2022

Received

KMX

5,000 shares

KMX

Jul 14, 2021

Charity

KMX

1,308 shares

KMX

Jul 2, 2021

Received

KMX

$24.33M

KMX at $131.44/share

Apr 12, 2021

Sale

KMX

5,000 shares

KMX

Jul 23, 2020

Charity

KMX

$24.84M

KMX at $97.52/share

Jul 22, 2020

Sale

KMX

2,021 shares

KMX

Jun 26, 2020

Received

KMX

$6.62M

KMX at $95.86/share

Feb 3, 2020

Sale

Compensation History

See how much did Thomas J. Folliard make over time.

Folliard’s compensation was structured around performance metrics, tying his earnings to CarMax's financial success. In fiscal year 2016, he received a total of $1,056,061, which included a salary of about $637,000 and a significant bonus of $400,000 based on performance targets. His compensation demonstrated the company’s focus on aligning executive pay with shareholder interests. Folliard was eligible for stock options that were part of the long-term strategy to boost company performance. This structure ensured that his success was closely tied to the company's overall performance and profitability, particularly through net income metrics, which led to a mindset focused on achieving tangible financial outcomes for CarMax.

Year

2016

Total Compensation

$1.45M

Salary

$637.27K

Board Justification

The compensation philosophy aligns executive pay with performance and shareholder interests, emphasizing long-term value creation.

Bonus

$400.54K

Board Justification

Pro-rated annual incentive bonus for the portion of the year served as CEO before retirement on August 31, 2016.

Other

$416.25K

Board Justification

Includes personal use of company plane, automobile, retirement savings plan contributions, and other benefits.

Restricted Stock

$0.00(0 N/A)

Board Justification

No new stock grants were made upon retirement; however, existing long-term equity awards were modified to remove forfeiture provisions.

Performance Metrics

Performance metrics for the annual incentive bonus were based on the company's net income.

Other CarMax CEOs

Here are other CEOs of CarMax

Austin Ligon

Founder and Ex-CEO of CarMax

January 2000 - June 2006

William D. Nash

CEO of CarMax

September 2016 - Present