| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | CVNA | Class A Common Stock | Options Exercise | $68,164 | +6,769 | +5.3% | $10.07 | 134,042 | 22 Oct 2024 | Direct | F1 |
| transaction | CVNA | Class A Common Stock | Sale | $2,880,504 | -14,548 | -11% | $198.00 | 119,494 | 22 Oct 2024 | Direct | F1, F2 |
| transaction | CVNA | Class A Common Stock | Conversion of derivative security | $0 | +7,779 | +6.5% | $0.000000 | 127,273 | 23 Oct 2024 | Direct | F1, F3, F4 |
| transaction | CVNA | Class A Common Stock | Sale | $5,039,496 | -25,452 | -20% | $198.00 | 101,821 | 23 Oct 2024 | Direct | F1 |
| transaction | CVNA | Class A Common Stock | Conversion of derivative security | $0 | +24,937 | +24% | $0.000000 | 126,758 | 23 Oct 2024 | Direct | F1, F3, F4 |
| 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 | -6,769 | -2.1% | $0.000000 | 309,334 | 22 Oct 2024 | Class A Common Stock | 6,769 | $10.07 | Direct | F5 |
| transaction | CVNA | Class B Units | Conversion of derivative security | $126,612 | -10,551 | -24% | $12.00 | 33,795 | 23 Oct 2024 | Class A Common Stock | 7,779 | $12.00 | Direct | F1, F3, F4 |
| transaction | CVNA | Class B Units | Conversion of derivative security | $405,540 | -33,795 | -100% | $12.00 | 0 | 23 Oct 2024 | Class A Common Stock | 24,937 | $12.00 | 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 | This transaction was executed in multiple trades at prices ranging from $ 198.00 to $198.07, 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 | 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. |
| F4 | The Reporting Person was granted 50,000 Class B Units on April 27, 2017 with a participation threshold of $12.00; 10,000 of which vested on February 1, 2018 and 833 of which vested on the first of each month thereafter. The Class B Units have no expiration date. |
| F5 | The non-qualified stock options representing the right to purchase for the exercise price Class A Common Stock of the Issuer vest 25% on April 1, 2024 and monthly thereafter for the following three years, subject to the Reporting Person's continued service with the Issuer. |
Vice President, General Counsel, & Secretary