Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

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
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Ballard Shari L
  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-President, BBY Internation
(Last)
(First)
(Middle)
7601 PENN AVENUE S.
3. Date of Earliest Transaction (Month/Day/Year)
02/28/2012
(Street)

RICHFIELD, MN 55423
4. If Amendment, Date 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
(City)
(State)
(Zip)
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               109,519.007 D  
Common Stock               14,744 (1) I 401(k)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (Right to Buy) $ 35.67             01/12/2011(2) 01/11/2021 Common Stock 20,000   20,000 D  
Stock Option (Right to Buy) $ 39.73             01/13/2010(2) 01/12/2020 Common Stock 16,563   16,563 D  
Stock Option (Right to Buy) $ 24.18             02/01/2012(2) 01/31/2022 Common Stock 15,000   15,000 D  
Stock Option (Right to Buy) $ 29.75             04/06/2011(2) 04/05/2021 Common Stock 20,000   20,000 D  
Stock Option (Right to Buy) $ 44.2             04/07/2010(2) 04/06/2020 Common Stock 16,563   16,563 D  
Stock Option (Right to Buy) $ 31.54             06/20/2011(2) 06/19/2021 Common Stock 15,000   15,000 D  
Stock Option (Right to Buy) $ 32.98             06/23/2009(2) 06/22/2019 Common Stock 33,125   33,125 D  
Stock Option (Right to Buy) $ 36.63             06/23/2010(2) 06/22/2020 Common Stock 16,563   16,563 D  
Stock Option (Right to Buy) $ 37.59             09/17/2009(2) 09/16/2019 Common Stock 16,563   16,563 D  
Stock Option (Right to Buy) $ 38.32             09/20/2010(2) 09/19/2020 Common Stock 20,000   20,000 D  
Stock Option (Right to Buy) $ 24.12             09/21/2011(2) 09/20/2021 Common Stock 15,000   15,000 D  
Stock Option (Right to Buy) $ 36.73             10/11/2004(2) 10/10/2014 Common Stock 19,350   19,350 D  
Stock Option (Right to Buy) $ 47.84             10/18/2007(2) 10/17/2017 Common Stock 66,200   66,200 D  
Stock Option (Right to Buy) $ 55.46             10/23/2006(2) 10/22/2016 Common Stock 66,200   66,200 D  
Stock Option (Right to Buy) $ 26.88             10/31/2008(2) 10/30/2018 Common Stock 66,250   66,250 D  
Stock Option (Right to Buy) $ 39.59             11/03/2003(2) 11/02/2013 Common Stock 32,325   32,325 D  
Stock Option (Right to Buy) $ 46.8             11/08/2005(2) 11/07/2015 Common Stock 30,005   30,005 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Ballard Shari L
7601 PENN AVENUE S.
RICHFIELD, MN 55423
      EVP-President, BBY Internation  

Signatures

 /s/Lisa Beth Lentini, Attorney-in-Fact   03/02/2012
**Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) This number reflects a periodic acquisition of shares under the employee retirement savings account (401(k)) exempt from reporting under Section 16b-3(c). Total is based on a plan statement as of February 16, 2012.
(2) The date indicated is the grant date and the options vest in four equal annual installments beginning one year from such date.

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