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

Role
President, Special Projects
Signature
/s/ Paul Breaux, by Power of Attorney for Thomas Taira
Issuer symbol
CVNA
Transactions as of
14 Jun 2024
Net transactions value
-$6,353,186
Form type
4
Filing time
17 Jun 2024, 18:00:36 UTC
Previous filing
04 Jun 2024
Next filing
18 Jun 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CVNA Class A Common Stock Options Exercise $690,359 +68,556 +37% $10.07 254,953 14 Jun 2024 Direct F1
transaction CVNA Class A Common Stock Sale $2,649,512 -25,996 -10% $101.92 228,957 14 Jun 2024 Direct F1, F2
transaction CVNA Class A Common Stock Sale $2,685,374 -26,102 -11% $102.88 202,855 14 Jun 2024 Direct F1, F3
transaction CVNA Class A Common Stock Sale $1,551,444 -14,958 -7.4% $103.72 187,897 14 Jun 2024 Direct F1, F4
transaction CVNA Class A Common Stock Sale $157,215 -1,500 -0.8% $104.81 186,397 14 Jun 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 -68,556 -25% $0.000000 201,282 14 Jun 2024 Class A Common Stock 68,556 $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.