Meghan Frank
Director at BBY
Board
About Meghan C. Frank
Meghan C. Frank is an independent director of Best Buy Co., Inc. (BBY), appointed September 10, 2025; she currently serves as CFO of lululemon athletica inc., with prior senior finance and planning roles at Ross Stores and J.Crew . She was named to BBY’s Audit Committee and the Nominating, Corporate Governance & Public Policy Committee upon appointment, and is designated an independent director on BBY’s governance site . Director since: September 2025 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| lululemon athletica inc. | Chief Financial Officer; previously interim co‑CFO; SVP FP&A | CFO since Nov 2020; interim co‑CFO beginning Apr 2020; joined 2016 | Oversees finance, tax, treasury, IR, asset protection, facilities, planning & allocations, and strategy |
| Ross Stores | Vice President, Merchandise Planning | Prior to lululemon | Retail planning expertise relevant to merchandising and inventory discipline |
| J.Crew | Financial planning & analysis leadership roles | Nearly a decade prior to Ross | FP&A leadership in apparel retail |
External Roles
| Organization | Role | Public Company Board? | Notes |
|---|---|---|---|
| lululemon athletica inc. | Chief Financial Officer | No (role is executive, not board) | Current executive position; deep retail finance experience |
No other public company directorships were disclosed in BBY’s appointment 8‑K or press materials .
Board Governance
- Independence: Listed as an independent director on BBY’s governance site; BBY’s board indicates all non‑management directors are independent under NYSE standards .
- Committees: Audit; Nominating, Corporate Governance & Public Policy (NCGPP) .
- Board practices: All committees are composed exclusively of independent directors; robust evaluation, executive sessions at each regular meeting, anti‑hedging and anti‑pledging policies, stock ownership guidelines for directors .
- Attendance: Fiscal 2025 board met 4 times; each incumbent director attended at least 75% of meetings; Frank joined post‑FY25 and will be evaluated in FY26 .
Fixed Compensation
BBY’s standard non‑management director compensation program (applicable to Frank on a prorated basis, per appointment 8‑K) :
| Component | Amount | Notes |
|---|---|---|
| Annual cash retainer | $100,000 | Paid quarterly; prorated for partial year |
| Audit Committee Chair retainer | $25,000 | N/A unless serving as chair |
| Compensation Committee Chair retainer | $20,000 | N/A unless serving as chair |
| NCGPP Committee Chair retainer | $20,000 | N/A unless serving as chair |
| Finance & Investment Policy Chair retainer | $20,000 | N/A unless serving as chair |
| Non‑executive Chair additional cash stipend | $65,000 | Separate role; not applicable to Frank |
Performance Compensation
Director equity is time‑based RSUs with holding requirements (no performance metrics); Frank will be compensated per this policy (prorated for appointment) .
| Feature | Detail | Grant Example | Vesting/Holding |
|---|---|---|---|
| Annual RSU grant value | $195,000 | 2,258 RSUs granted to each then‑serving non‑management director on June 12, 2024 | Fully vests one year from grant; directors must hold RSUs until departure; dividend equivalents subject to same restrictions |
| Additional RSU for non‑exec Chair | $135,000 | 1,563 RSUs to Chair | Same vesting/holding rules |
| New director awards | Prorated RSU awards | Included in reported grant‑date fair values where applicable | Prorated through termination date unless terminated for Cause (then forfeited) |
Other Directorships & Interlocks
| Entity | Relationship to BBY | Nature of Potential Interlock | Notes |
|---|---|---|---|
| lululemon athletica inc. | Unrelated third‑party retailer | Executive overlap (Frank is CFO) | BBY disclosed no related‑party transactions involving Frank at appointment and no arrangements/understandings re: her selection . BBY committees are independent and monitor conflicts . |
Expertise & Qualifications
- Finance leadership: CFO experience overseeing comprehensive finance functions; prior FP&A leadership at J.Crew; merchandise planning at Ross Stores .
- Retail & planning: Two decades in retail finance and planning, relevant to BBY’s merchandising, inventory, and margin disciplines .
- Audit oversight: Appointed to Audit Committee; BBY’s Audit Committee includes members with accounting and financial expertise; all are independent .
Equity Ownership
| Item | Detail | Evidence |
|---|---|---|
| Initial beneficial ownership filing | Form 3 filed in September 2025 (post‑appointment) | |
| Director stock ownership guidelines | Must own 10,000 shares; must hold 50% of granted equity until guideline met; RSUs held until end of board service | |
| Hedging/Pledging | Prohibited for directors | |
| Current BBY share count | Not disclosed in FY2025 proxy for Frank (appointed after proxy date); initial holdings to be established via Form 3 | (general ownership table pre‑appointment) |
Insider Trades
| Date | Form | Transaction Summary | Source |
|---|---|---|---|
| Sep 2025 | Form 3 | Initial Statement of Beneficial Ownership filed following appointment |
No Form 4 transactions for Frank were disclosed in BBY filings or press materials through November 19, 2025; her compensation and equity follow BBY’s standard director policy .
Related-Party Transactions & Conflicts
- BBY disclosed no transactions or relationships reportable under Item 404(a) of Regulation S‑K for Frank at her appointment; no arrangements/understandings led to her selection .
- BBY’s Related Party Transactions Policy requires Audit Committee approval and competitive terms; ongoing reviews occur annually; none involve directors materially per FY2025 proxy .
Fixed Compensation Table (Director Program Reference)
| Component | FY2025 Policy | Notes |
|---|---|---|
| Cash retainer | $100,000 | Quarterly; prorated for service period |
| Committee chair fees | $25,000 (Audit); $20,000 (Comp, NCGPP, FIPC) | Only if serving as chair |
| Equity grant (RSUs) | $195,000 (2,258 units) | Vests in 1 year; dividend equivalents; holding until departure |
| Chair incremental equity | $135,000 (1,563 units) | For non‑exec Chair; not applicable to Frank |
Governance Assessment
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Positive signals:
- Independence and committee assignments (Audit and NCGPP) align with her finance skillset; BBY’s committees are fully independent with strong oversight processes .
- No related‑party transactions or appointment arrangements; compensation adheres to the standard director program with stock ownership and anti‑hedging/pledging requirements that support alignment .
- BBY’s board has robust evaluation, executive sessions, and risk oversight practices (including cyber and compensation risk), which bolster governance quality .
-
Watch items:
- Overboarding/external demands: Frank is a sitting CFO; monitor attendance and committee workload to ensure compliance with BBY’s overboarding policy and 75% attendance expectations (FY2025 incumbents met this threshold) .
- Ownership alignment: New directors must build toward 10,000‑share guideline; track progress via Section 16 filings and director equity grants/proration .
-
RED FLAGS: None evident at appointment (no Item 404 transactions; independent status; standard pay structure; no hedging/pledging). Continue monitoring for any emerging commercial ties between BBY and lululemon or changes in outside commitments .