Ernest C. Garcia III - Jul 19, 2023 Form 4 Insider Report for CARVANA CO. (CVNA)

Role
Chief Executive Officer, Director, 10%+ Owner
Signature
/s/ Paul Breaux, by Power of Attorney for Ernest C. Garcia, III
Stock symbol
CVNA
Transactions as of
Jul 19, 2023
Transactions value $
$1,806,413
Form type
4
Date filed
7/21/2023, 05:25 PM
Previous filing
Jul 5, 2023
Next filing
Aug 3, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CVNA Class A Common Stock Award $2.96M +53.1K +6.33% $55.80 892K Jul 19, 2023 Direct F1
transaction CVNA Class A Common Stock Tax liability -$1.16M -20.7K -2.32% $55.80 872K Jul 19, 2023 Direct F2
holding CVNA Class A Common Stock 950K Jul 19, 2023 Ernest C. Garcia III Multi-Generational Trust III F3
holding CVNA Class A Common Stock 850K Jul 19, 2023 Ernest Irrevocable 2004 Trust III F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents restricted stock units ("RSUs") granted on February 22, 2023 under the Reporting Person's Performance Restricted Stock Unit Award Agreement between Carvana Co. and the Reporting Person, dated February 22, 2023 ("2023 PRSU Agreement"). The performance condition in the 2023 PRSU Agreement has been met, and all RSUs vested on July 19, 2023.
F2 Represents shares of Class A Common Stock of the Issuer withheld for taxes upon vesting of RSUs under the 2023 PRSU Agreement.
F3 These shares of Class A Common Stock are held directly by the Ernest C. Garcia III Multi-Generational Trust III (the "Multi-Generational Trust"). The Reporting Person is the Co-Administrative Trustee and Co-Investment Trustee of the Multi-Generational Trust and therefore shares voting and dispositive power over the shares held directly by the Multi-Generational Trust.
F4 These shares of Class A Common Stock are held directly by the Ernest Irrevocable 2004 Trust III (the "Irrevocable Trust"). The Reporting Person is the Co-Administrative Trustee and Co-Investment Trustee of the Irrevocable Trust and therefore shares voting and dispositive power over the shares held directly by the Irrevocable Trust.