Thomas Taira - Jun 14, 2024 Form 4 Insider Report for CARVANA CO. (CVNA)

Role
President, Special Projects
Signature
/s/ Paul Breaux, by Power of Attorney for Thomas Taira
Stock symbol
CVNA
Transactions as of
Jun 14, 2024
Transactions value $
-$6,353,186
Form type
4
Date filed
6/17/2024, 06:00 PM
Previous filing
Jun 4, 2024
Next filing
Jun 18, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CVNA Class A Common Stock Options Exercise $690K +68.6K +36.78% $10.07 255K Jun 14, 2024 Direct F1
transaction CVNA Class A Common Stock Sale -$2.65M -26K -10.2% $101.92 229K Jun 14, 2024 Direct F1, F2
transaction CVNA Class A Common Stock Sale -$2.69M -26.1K -11.4% $102.88 203K Jun 14, 2024 Direct F1, F3
transaction CVNA Class A Common Stock Sale -$1.55M -15K -7.37% $103.72 188K Jun 14, 2024 Direct F1, F4
transaction CVNA Class A Common Stock Sale -$157K -1.5K -0.8% $104.81 186K Jun 14, 2024 Direct F1, F5

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 -68.6K -25.41% $0.00 201K Jun 14, 2024 Class A Common Stock 68.6K $10.07 Direct F6
* 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 March 15, 2024.
F2 This transaction was executed in multiple trades at prices ranging from $101.31 to $102.30, 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 $102.31 to $103.29, 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 $103.31 to $104.25, 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.
F5 This transaction was executed in multiple trades at prices ranging from $104.32 to $105.05, 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 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.