Ernest C. Garcia II - Jun 24, 2021 Form 4 Insider Report for CARVANA CO. (CVNA)

Role
10%+ Owner
Signature
/s/ Ernest C. Garcia II
Stock symbol
CVNA
Transactions as of
Jun 24, 2021
Transactions value $
-$5,845,112
Form type
4
Date filed
6/28/2021, 06:44 PM
Previous filing
Jun 25, 2021
Next filing
Jun 28, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CVNA Class A Common Stock Conversion of derivative security $0 +3.91K $0.00 3.91K Jun 24, 2021 Direct F1
transaction CVNA Class A Common Stock Sale -$1.23M -3.91K -100% $314.02* 0 Jun 24, 2021 Direct F2, F3
transaction CVNA Class A Common Stock Conversion of derivative security $0 +4.1K $0.00 4.1K Jun 24, 2021 Direct F1
transaction CVNA Class A Common Stock Sale -$1.29M -4.1K -100% $315.02* 0 Jun 24, 2021 Direct F2, F3
transaction CVNA Class A Common Stock Conversion of derivative security $0 +6.9K $0.00 6.9K Jun 24, 2021 Direct F1
transaction CVNA Class A Common Stock Sale -$2.18M -6.9K -100% $316.15* 0 Jun 24, 2021 Direct F2, F3
transaction CVNA Class A Common Stock Conversion of derivative security $0 +1.3K $0.00 1.3K Jun 24, 2021 Direct F1
transaction CVNA Class A Common Stock Sale -$412K -1.3K -100% $317.11* 0 Jun 24, 2021 Direct F2, F3
transaction CVNA Class A Common Stock Conversion of derivative security $0 +1.6K $0.00 1.6K Jun 24, 2021 Direct F1
transaction CVNA Class A Common Stock Sale -$509K -1.6K -100% $318.18* 0 Jun 24, 2021 Direct F2, F3
transaction CVNA Class A Common Stock Conversion of derivative security $0 +700 $0.00 700 Jun 24, 2021 Direct F1
transaction CVNA Class A Common Stock Sale -$223K -700 -100% $318.97* 0 Jun 24, 2021 Direct F2, F3
transaction CVNA Class B Common Stock Other $0 -18.5K -0.04% $0.00 41.4M Jun 24, 2021 Direct F6
holding CVNA Class A Common Stock 556K Jun 24, 2021 Verde Investments, Inc. F4
holding CVNA Class A Common Stock 100K Jun 24, 2021 Ernest C. Garcia III Multi-Generational Trust III F5
holding CVNA Class B Common Stock 11.8M Jun 24, 2021 Ernest Irrevocable 2004 Trust III F7
holding CVNA Class B Common Stock 12M Jun 24, 2021 Ernest C. Garcia III Multi-Generational Trust III F8
holding CVNA Class B Common Stock 8M Jun 24, 2021 ECG II SPE, LLC F9

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
transaction CVNA Class A Units Conversion of derivative security $0 -23.1K -0.04% $0.00 51.7M Jun 24, 2021 Class A Common Stock 18.5K Direct F1
holding CVNA Class A Units 14.8M Jun 24, 2021 Class A Common Stock Ernest Irrevocable 2004 Trust III F10
holding CVNA Class A Units 14.9M Jun 24, 2021 Class A Common Stock Ernest C. Garcia III Multi-Generational Trust III F11
holding CVNA Class A Units 10M Jun 24, 2021 Class A Common Stock ECG II SPE, LLC F12
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects the conversion of Class A Common Units ("Class A Units") of Carvana Group, LLC ("Carvana Group") owned directly by Ernest C. Garcia II into shares of Class A Common Stock ("Class A Shares") of the Issuer 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").
F2 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 June 15, 2020, as modified.
F3 Column 4 reflects a weighted average price. Shares sold in multiple transactions at prices ranging from $313.51-$314.43 (weighted average $314.024); $314.56-$315.54 (weighted average $315.017); $315.62-$316.61 (weighted average $316.1477); $316.68-$317.67 (weighted average $317.1108); $317.70-$318.59 (weighted average $318.176); and $318.81-$319.28 (weighted average $318.9686), respectively. Reporting person undertakes to provide issuer, securityholder of issuer or SEC staff, upon request, information regarding number of shares sold at each separate price within ranges set forth herein.
F4 These Class A Shares are owned directly by Verde Investments, Inc., an entity which Mr. Garcia wholly owns and controls.
F5 These Class A Shares are owned directly by the Ernest C. Garcia III Multi-Generational Trust III (the "Multi-Generational Trust"). Mr. Garcia has sole investment and dispository power over the Multi-Generational Trust assets and Mr. Garcia's son, Ernie Garcia, III, together with Ernie Garcia, III's children, are the sole beneficiaries of the Multi-Generational Trust.
F6 Reflects the cancellation for no consideration of Class B Common Stock of the Issuer ("Class B Shares") in connection with the conversion of Class A Units into Class A Shares. Following the reported transaction, the remaining Class B Shares are owned directly by Ernest C. Garcia II.
F7 These Class B Shares are owned directly by the Ernest Irrevocable 2004 Trust III (the "2004 Trust"). Mr. Garcia has shared investment and dispository power over the 2004 Trust assets and Mr. Garcia's son, Ernie Garcia, III, is the sole beneficiary of the 2004 Trust.
F8 These Class B Shares are owned directly by the Multi-Generational Trust.
F9 These Class B Shares are owned directly by ECG II SPE, LLC ("E-SPE"), an entity which Mr. Garcia wholly owns and controls.
F10 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.
F11 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.
F12 These Class A Units are owned directly by E-SPE and are exchangeable for 0.8 Class A Shares pursuant to the Exchange Agreement.