Form 4 SCHULZE RICHARD M For: Oct 15 (10K)

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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:		3235-0287
Expires:	February 28, 2011
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^*

SCHULZE RICHARD M

(Last)

(First)

(Middle)

7601 PENN AVENUE S.

(Street)

RICHFIELD

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)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Chairman

3. Date of Earliest Transaction (Month/Day/Year)
10/15/2009

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)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	10/15/2009		S		58,600	D	$ 41	1,789,589	I	Family Foundation
Common Stock	08/20/2009		G	V	1,071	A	$ 0	11,799	I	Spouse Revocable Trust
Common Stock	08/20/2009		G	V	1,071	D	$ 0	10,728	I	Spouse Revocable Trust
Common Stock	08/20/2009		G	V	2,142	D	$ 0	60,003,668	I	Trustee for Revocable Trust
Common Stock								236,250	D
Common Stock								77,001	I	401(k)
Common Stock								4,465,930	I	GRAT
Common Stock								2,061	I	IRA
Common Stock								950,169	I	Sole general partner of limited partnership B
Common Stock								31,672	I	Sole member of LLC which is sole general partner of limited partnership A
Common Stock								252,312	I	Sole member of LLC which is sole general partner of limited partnership C
Common Stock								1,143,043	I	Spousal GRAT
Common Stock								183,726	I	Spouse Irrevocable Trust
Common Stock								24,318	I	Trustee for Children's Trust

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 Underlying Securities
(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 of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Stock Option (Right to Buy)

$ 31.17

04/14/2000

04/13/2010

Common Stock

911,250

Stock Option (Right to Buy)

$ 24.71

04/27/2001

04/26/2011

Common Stock

573,750

Stock Option (Right to Buy)

$ 34.18

04/10/2002

04/11/2012

Common Stock

202,500

Stock Option (Right to Buy)

$ 20.65

04/14/2003

04/13/2013

Common Stock

11,250

Stock Option (Right to Buy)

$ 35.33

04/19/2004

04/18/2014

Common Stock

11,250

Stock Option (Right to Buy)

$ 32.79

04/18/2005

04/17/2015

Common Stock

11,250

Stock Option (Right to Buy)

$ 56.66

04/18/2006

04/27/2016

Common Stock

7,500

Stock Option (Right to Buy)

$ 47.46

04/10/2007

04/09/2017

Common Stock

7,500

Explanation of Responses:

	/s/Lisa Beth Lentini, Attorney-in-Fact	10/16/2009
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Add to Delicious

Digg It

Send by Email

View Comments (0)

Post Comment