Mark W. Jenkins - 01 Apr 2024 Form 4 Insider Report for CARVANA CO. (CVNA)

Signature
/s/ Paul Breaux, by Power of Attorney for Mark W. Jenkins
Issuer symbol
CVNA
Transactions as of
01 Apr 2024
Net transactions value
-$5,039,431
Form type
4
Filing time
03 Apr 2024, 19:00:14 UTC
Previous filing
18 Mar 2024
Next filing
03 May 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CVNA Class A Common Stock Options Exercise $503,500 +50,000 +27% $10.07* 233,156 01 Apr 2024 Direct F1
transaction CVNA Class A Common Stock Sale $379,430 -4,413 -1.9% $85.98 228,743 01 Apr 2024 Direct F1, F2
transaction CVNA Class A Common Stock Sale $3,502,818 -40,369 -18% $86.77 188,374 01 Apr 2024 Direct F1, F3
transaction CVNA Class A Common Stock Sale $455,844 -5,218 -2.8% $87.36 183,156 01 Apr 2024 Direct F1, F4
transaction CVNA Class A Common Stock Sale $43,020 -500 -0.27% $86.04 182,656 01 Apr 2024 Direct F1, F5
transaction CVNA Class A Common Stock Sale $373,283 -4,300 -2.4% $86.81 178,356 01 Apr 2024 Direct F1, F6
transaction CVNA Class A Common Stock Sale $17,514 -200 -0.11% $87.57 178,156 01 Apr 2024 Direct F1, F7
transaction CVNA Class A Common Stock Sale $691,966 -8,348 -4.7% $82.89 169,808 02 Apr 2024 Direct F8, F9
transaction CVNA Class A Common Stock Sale $66,951 -802 -0.47% $83.48 169,006 02 Apr 2024 Direct F8, F10
transaction CVNA Class A Common Stock Sale $12,105 -146 -0.09% $82.91 168,860 02 Apr 2024 Direct F8

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 Stock Options (Right to Buy) Options Exercise $0 -50,000 -10% $0.000000 448,513 01 Apr 2024 Class A Common Stock 50,000 $10.07 Direct F11
* 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 reported option exercise and sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 15, 2023.
F2 This transaction was executed in multiple trades at prices ranging from $ 85.25 to $86.24, inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.
F3 This transaction was executed in multiple trades at prices ranging from $ 86.26 to $87.25, inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.
F4 This transaction was executed in multiple trades at prices ranging from $ 87.26 to $87.70, inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.
F5 This transaction was executed in multiple trades at prices ranging from $ 85.39 to $86.27, inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.
F6 This transaction was executed in multiple trades at prices ranging from $ 86.42 to $87.38, inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.
F7 This transaction was executed in multiple trades at prices ranging from $ 87.43 to $87.70, inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.
F8 Represents total number of shares of Class A Common Stock of the Issuer sold to pay required taxes upon vesting of restricted stock units pursuant to various awards.
F9 This transaction was executed in multiple trades at prices ranging from $ 82.39 to $83.35, inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.
F10 This transaction was executed in multiple trades at prices ranging from $ 83.40 to $83.62, inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.
F11 The non-qualified stock options representing the right to purchase for the exercise price Class A Common Stock of the Issuer vested 25% on April 1, 2024 and monthly thereafter for the following three years, subject to the Reporting Person's continued service with the Issuer.