Thomas Taira - 18 Jun 2024 Form 4 Insider Report for CARVANA CO. (CVNA)

Signature
/s/ Paul Breaux, by Power of Attorney for Thomas Taira
Issuer symbol
CVNA
Transactions as of
18 Jun 2024
Net transactions value
-$1,447,000
Form type
4
Filing time
18 Jun 2024, 19:57:59 UTC
Previous filing
17 Jun 2024
Next filing
24 Jun 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CVNA Class A Common Stock Options Exercise $760,000 +20,000 +11% $38.00 206,397 18 Jun 2024 Direct F1
transaction CVNA Class A Common Stock Sale $2,207,000 -20,000 -9.7% $110.35 186,397 18 Jun 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 -20,000 -72% $0.000000 7,667 18 Jun 2024 Class A Common Stock 20,000 $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.