Thomas Taira - Jun 18, 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 18, 2024
Transactions value $
-$1,447,000
Form type
4
Date filed
6/18/2024, 07:57 PM
Previous filing
Jun 17, 2024
Next filing
Jun 24, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CVNA Class A Common Stock Options Exercise $760K +20K +10.73% $38.00 206K Jun 18, 2024 Direct F1
transaction CVNA Class A Common Stock Sale -$2.21M -20K -9.69% $110.35 186K Jun 18, 2024 Direct F1, F2

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 -20K -72.29% $0.00 7.67K Jun 18, 2024 Class A Common Stock 20K $38.00 Direct F3
* 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 $110.00 to $110.82, 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 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, 2020 and monthly thereafter for the following three years, subject to the Reporting Person's continued service with the Issuer.