Ernest C. Garcia II - 27 Jun 2024 Form 4 Insider Report for CARVANA CO. (CVNA)

Role
10%+ Owner
Signature
/s/ Ernest C. Garcia II
Issuer symbol
CVNA
Transactions as of
27 Jun 2024
Net transactions value
-$19,555,135
Form type
4
Filing time
01 Jul 2024, 19:25:24 UTC
Previous filing
27 Jun 2024
Next filing
03 Jul 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CVNA Class A Common Stock Sale $414,063 -3,309 -0.42% $125.13 784,191 27 Jun 2024 Direct F1, F15
transaction CVNA Class A Common Stock Sale $500,944 -3,975 -0.51% $126.02 780,216 27 Jun 2024 Direct F1, F2
transaction CVNA Class A Common Stock Sale $2,914,389 -22,954 -2.9% $126.97 757,262 27 Jun 2024 Direct F1, F2
transaction CVNA Class A Common Stock Sale $684,006 -5,350 -0.71% $127.85 751,912 27 Jun 2024 Direct F1, F2
transaction CVNA Class A Common Stock Sale $592,397 -4,587 -0.61% $129.15 747,325 27 Jun 2024 Direct F1, F2
transaction CVNA Class A Common Stock Sale $1,062,739 -8,172 -1.1% $130.05 739,153 27 Jun 2024 Direct F1, F2
transaction CVNA Class A Common Stock Sale $2,008,393 -15,336 -2.1% $130.96 723,817 27 Jun 2024 Direct F1, F2
transaction CVNA Class A Common Stock Sale $950,942 -7,213 -1% $131.84 716,604 27 Jun 2024 Direct F1, F2
transaction CVNA Class A Common Stock Sale $483,990 -3,646 -0.51% $132.75 712,958 27 Jun 2024 Direct F1, F2
transaction CVNA Class A Common Stock Sale $61,176 -458 -0.06% $133.57 712,500 27 Jun 2024 Direct F1, F2
transaction CVNA Class A Common Stock Sale $112,202 -900 -0.13% $124.67 711,600 28 Jun 2024 Direct F1, F3, F4
transaction CVNA Class A Common Stock Sale $390,411 -3,100 -0.44% $125.94 708,500 28 Jun 2024 Direct F1, F3, F4
transaction CVNA Class A Common Stock Sale $535,756 -4,217 -0.6% $127.05 704,283 28 Jun 2024 Direct F1, F3, F4
transaction CVNA Class A Common Stock Sale $662,383 -5,182 -0.74% $127.82 699,101 28 Jun 2024 Direct F1, F3, F4
transaction CVNA Class A Common Stock Sale $1,110,019 -8,609 -1.2% $128.94 690,492 28 Jun 2024 Direct F1, F3, F4
transaction CVNA Class A Common Stock Sale $1,134,158 -8,732 -1.3% $129.89 681,760 28 Jun 2024 Direct F1, F3, F4
transaction CVNA Class A Common Stock Sale $418,042 -3,197 -0.47% $130.76 678,563 28 Jun 2024 Direct F1, F3, F4
transaction CVNA Class A Common Stock Sale $492,082 -3,730 -0.55% $131.93 674,833 28 Jun 2024 Direct F1, F3, F4
transaction CVNA Class A Common Stock Sale $810,328 -6,093 -0.9% $132.99 668,740 28 Jun 2024 Direct F1, F3, F4
transaction CVNA Class A Common Stock Sale $1,284,074 -9,582 -1.4% $134.01 659,158 28 Jun 2024 Direct F1, F3, F4
transaction CVNA Class A Common Stock Sale $1,797,519 -13,312 -2% $135.03 645,846 28 Jun 2024 Direct F1, F3, F4
transaction CVNA Class A Common Stock Sale $1,072,646 -7,889 -1.2% $135.97 637,957 28 Jun 2024 Direct F1, F3, F4
transaction CVNA Class A Common Stock Sale $62,476 -457 -0.07% $136.71 637,500 28 Jun 2024 Direct F1, F3, F4
holding CVNA Class A Common Stock 2,578,314 27 Jun 2024 Verde Investments, Inc. F5
holding CVNA Class A Common Stock 850,000 27 Jun 2024 Ernest Irrevocable 2004 Trust III F6
holding CVNA Class A Common Stock 950,000 27 Jun 2024 Ernest C. Garcia III Multi-Generational Trust III F7
holding CVNA Class B Common Stock 41,442,317 27 Jun 2024 Direct
holding CVNA Class B Common Stock 11,834,021 27 Jun 2024 Ernest Irrevocable 2004 Trust III F8
holding CVNA Class B Common Stock 11,952,000 27 Jun 2024 Ernest C. Garcia III Multi-Generational Trust III F9
holding CVNA Class B Common Stock 8,000,000 27 Jun 2024 ECG II SPE, LLC F10

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding CVNA Class A Units 51,802,896 27 Jun 2024 Class A Common Stock 51,802,896 Direct F11
holding CVNA Class A Units 14,792,526 27 Jun 2024 Class A Common Stock 14,792,526 Ernest Irrevocable 2004 Trust III F12
holding CVNA Class A Units 14,940,000 27 Jun 2024 Class A Common Stock 14,940,000 Ernest C. Garcia III Multi-Generational Trust III F13
holding CVNA Class A Units 10,000,000 27 Jun 2024 Class A Common Stock 10,000,000 ECG II SPE, LLC F14
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by Ernest C. Garcia II and Elizabeth Joanne Garcia on March 11, 2024.
F2 Prices reported in Column 4 are weighted average prices. Shares were sold in multiple transactions at prices ranging from $124.365-$125.36, inclusive (weighted average of $125.1324); $125.37-$126.265, inclusive (weighted average of $126.0236); $126.385-$127.38, inclusive (weighted average of $126.9665); $127.395-$128.37, inclusive (weighted average of $127.8515); $128.40-$129.39, inclusive (weighted average of $129.1469); $129.42-$130.395, inclusive (weighted average of $130.0464); $130.43-$131.41, inclusive (weighted average of $130.9594); $131.43-$132.40, inclusive (weighted average of $131.8372); $132.465-$133.29, inclusive (weighted average of $132.7456); and $133.495-$133.85, inclusive (weighted average of $133.5722), respectively. The reporting person undertakes to provide to the issuer or to the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth herein.
F3 Prices reported in Column 4 are weighted average prices. Shares sold in multiple transactions ranging from $124.30-$125.01, inclusive (weighted average $124.6689); $125.33-$126.31, inclusive (weighted average $125.939); $126.40-$127.39, inclusive (weighted average $127.0467); $127.40-$128.38, inclusive (weighted average $127.8238); $128.40-$129.37, inclusive (weighted average $128.9371); $129.41-$130.37, inclusive (weighted average $129.8852); $130.42-$131.40, inclusive (weighted average $130.7607); $131.49-$132.45, inclusive (weighted average $131.9256); $132.49-$133.48, inclusive (weighted average $132.9932); $133.49-$134.47, inclusive (weighted average $134.009); $134.49-$135.48, inclusive (weighted average $135.03); $135.495-$136.49, inclusive (weighted average $135.9673); and $136.65-$136.85, inclusive (weighted average $136.7081), respectively.
F4 Reporting person undertakes to provide to issuer or to staff of the Securities and Exchange Commission, upon request, full information regarding number of shares sold at each separate price within ranges set forth herein.
F5 These Class A Shares are owned directly by Verde Investments, Inc., an entity which Mr. Garcia wholly owns and controls.
F6 These Class A Shares are owned directly by the Ernest Irrevocable 2004 Trust III (the "2004 Trust"). Mr. Garcia may have shared voting and dispositive power with respect to the Class A Shares held by the 2004 Trust. Mr. Garcia is a non-voting co-trustee with respect to the 2004 Trust and Mr. Garcia's son, Ernie Garcia III, is the sole beneficiary.
F7 These Class A Shares are owned directly by the Ernest C. Garcia III Multi-Generational Trust III (the "Multi-Generational Trust"). Mr. Garcia may have shared voting and dispositive power with respect to the Class A Shares held by the Multi-Generational Trust. Mr. Garcia is a non-voting co-trustee with respect to the Multi-Generational Trust, and Ernie Garcia III and his children are the sole beneficiaries.
F8 These Class B Shares are owned directly by the 2004 Trust.
F9 These Class B Shares are owned directly by the Multi-Generational Trust.
F10 These Class B Shares are owned directly by ECG II SPE, LLC ("E-SPE"), an entity which Mr. Garcia wholly owns and controls.
F11 These Class A Units are exchangeable for 0.8 Class A Shares pursuant to the Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the "Exchange Agreement").
F12 These Class A Units are owned directly by the 2004 Trust and are exchangeable for 0.8 Class A Shares pursuant to the Exchange Agreement.
F13 These Class A Units are owned directly by the Multi-Generational Trust and are exchangeable for 0.8 Class A Shares pursuant to the Exchange Agreement.
F14 These Class A Units are owned directly by E-SPE and are exchangeable for 0.8 Class A Shares pursuant to the Exchange Agreement.
F15 Prices reported in Column 4 are weighted average prices. Shares were sold in multiple transactions at prices ranging from $124.365-$125.36, inclusive (weighted average of $125.1324); $125.37-$126.265, inclusive (weighted average of $126.0236); $126.385-$127.38, inclusive (weighted average of $126.9665); $127.395-$128.37, inclusive (weighted average of $127.8515); $128.40-$129.39, inclusive (weighted average of $129.1469); $129.42-$130.395, inclusive (weighted average of $130.0464); $130.43-$131.41, inclusive (weighted average of $130.9594); $131.43-$132.40, inclusive (weighted average of $131.8372); $132.465-$133.29, inclusive (weighted average of $132.7456); and $133.495-$133.85, inclusive (weighted average of $133.5722), respectively. The reporting person undertakes to provide to the issuer or to the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth herein.