Benjamin E. Huston - 10 May 2021 Form 4 Insider Report for CARVANA CO. (CVNA)

Reporting relationship: Chief Operating Officer
Issuer ticker: CVNA
Reported as of: 10 May 2021
Net transaction value: -$2,195,428
SEC form: 4
Accepted by SEC: 12 May 2021, 18:58:21 UTC
Next SEC filing: 03 Jun 2021
Source filing: View source filing
Reporting owner signature: /s/ Paul Breaux, by Power of Attorney for Benjamin E. Huston

Key filing fact

Benjamin E. Huston filed Form 4 for CARVANA CO. (CVNA) on 12 May 2021.

Key facts

This page summarizes Benjamin E. Huston's Form 4 filing for CARVANA CO. (CVNA).
5 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 12 May 2021, 18:58.

Change

No earlier filing in this sequence is available for direct comparison.
Current net transaction value: -$2,195,428.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

CVNA transaction

Class A Common Stock

Conversion of derivative security

Transaction value: $0
Shares: +5,070
Change %: +14%
Price: $0.000000
Shares after: 41,199
Date: 10 May 2021
Ownership: Direct
Footnotes: F1, F2

CVNA transaction

Class A Common Stock

Sale

Transaction value: $463,080
Shares: -2,000
Change %: -4.9%
Price: $231.54^*
Shares after: 39,199
Date: 10 May 2021
Ownership: Direct
Footnotes: F1

CVNA transaction

Class A Common Stock

Sale

Transaction value: $746,348
Shares: -3,070
Change %: -7.8%
Price: $243.11^*
Shares after: 36,129
Date: 10 May 2021
Ownership: Direct
Footnotes: F1

CVNA transaction

Class A Common Stock

Sale

Transaction value: $986,000
Shares: -4,930
Change %: -14%
Price: $200.00
Shares after: 31,199
Date: 10 May 2021
Ownership: Direct
Footnotes: F3

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

CVNA transaction Derivative

Class B Units

Conversion of derivative security

Transaction value: $0
Shares: -6,338
Change %: -2.6%
Price: $0.000000
Shares after: 239,910
Date: 10 May 2021
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 5,070
Exercise price: $0.000000
Footnotes: F1, F2, F4, F5

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 5 footnotes

Footnote F1

The reported sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 16, 2021 (the "10b5-1 Plan"). The Reporting Person acquired the Class A Common Stock on May 10, 2021 by exchanging 6,338 Class B common units of Carvana Group, LLC ("Class B Units") for 5,070 shares of Class A Common Stock pursuant to an exchange agreement among the Issuer and certain common unit holders of Carvana Group, LLC, dated April 27, 2017 (the "Exchange Agreement").

Footnote F2

The Exchange Agreement permits holders of Class B Units to exchange their Class B Units for a number of shares of the Issuer's Class A Common Stock equal to the Class A Common Stock Value less theAdjusted Participation Threshold (as each term is defined in the Exchange Agreement) multiplied by 0.8 times the number of Class B Units being exchanged, divided by the Class A Common Stock Value.

Footnote F3

The reported sales were effected pursuant to the 10b5-1 Plan.

Footnote F4

The exchanged Class B Units have a participation threshold of $0.00. The Class B Units have no expiration date.

Footnote F5

The Reporting Person was granted 1,000,000 Class B Units on March 24, 2015 with a participation threshold of $0.00; 250,000 vested on the grant date and 16,667 vest on the first of each month thereafter.