| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | CVNA | Class A Common Stock | Sale | -$2.18M | -15K | -11.62% | $145.00 | 114K | Jul 16, 2024 | Direct | F1 |
| transaction | CVNA | Class A Common Stock | Conversion of derivative security | $0 | +15K | +13.14% | $0.00 | 129K | Jul 18, 2024 | Direct | F1, F2, F3, F4 |
| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | CVNA | Class B Units | Conversion of derivative security | -$43.4K | -8.9K | -100% | $4.88* | 0 | Jul 18, 2024 | Class A Common Stock | 6.81K | $4.88 | Direct | F1, F2, F4 |
| transaction | CVNA | Class B Units | Conversion of derivative security | -$62.7K | -10.8K | -43.12% | $5.81* | 14.2K | Jul 18, 2024 | Class A Common Stock | 8.19K | $5.81 | Direct | F1, F3, F4 |
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).
| Id | Content |
|---|---|
| F1 | The reported conversions and sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 9, 2023 (the "10b5-1 Plan"). |
| F2 | The Reporting Person was granted 250,000 Class B Units on December 30, 2015 with a participation threshold of $4.878; 50,000 of which vested on August 3, 2016 and 4,167 of which vested on the first of each month thereafter. The Reporting Person was also granted 12,500 Class B Units on January 29, 2016 with a participation threshold of $4.878; 2,500 of which vested on August 3, 2016 and 209 of which vested on the first of each month thereafter. The Class B Units have no expiration date. |
| F3 | The Reporting Person was granted 25,000 Class B Units on September 23, 2016 with a participation threshold of $5.8114; 5,000 of which vested on August 9, 2017 and 416 of which vested on the first of each month thereafter. The Class B Units have no expiration date. |
| F4 | Pursuant to an exchange agreement among the Issuer and certain common unit holders of Carvana Group, LLC, dated April 27, 2017 (the "Exchange Agreement"), holders of Class B Units may exchange their Class B Units for a number of shares of the Issuer's Class A Common Stock equal to the Class A Common Stock Value less the Adjusted Participation Threshold (as each term is defined in the Exchange Agreement) multiplied by 0.8 times the number of Class B Units being exchanged, divided by the Class A Common Stock Value. |
Vice President, General Counsel, & Secretary