Benjamin E. Huston - 24 Mar 2025 Form 4 Insider Report for CARVANA CO. (CVNA)

Reporting relationship: Chief Operating Officer
Issuer ticker: CVNA
Reported as of: 24 Mar 2025
Net transaction value: -$10,517,271
SEC form: 4
Accepted by SEC: 26 Mar 2025, 19:34:21 UTC
Prior SEC filing: 17 Mar 2025
Next SEC filing: 02 Apr 2025
Source filing: View source filing
Reporting owner signature: /s/ Paul Breaux, by Power of Attorney for Benjamin E. Huston

Key filing fact

Benjamin E. Huston filed Form 4 for CARVANA CO. (CVNA) on 26 Mar 2025.

Key facts

This page summarizes Benjamin E. Huston's Form 4 filing for CARVANA CO. (CVNA).
16 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 26 Mar 2025, 19:34.

Change

Previous filing in this sequence was filed on 17 Mar 2025.
Current net transaction value: -$10,517,271.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

CVNA transaction

Class A Common Stock

Sale

Transaction value: $80,276
Shares: -400
Change %: -0.2%
Price: $200.69
Shares after: 195,878
Date: 24 Mar 2025
Ownership: Direct
Footnotes: F1, F2

CVNA transaction

Class A Common Stock

Sale

Transaction value: $121,158
Shares: -600
Change %: -0.31%
Price: $201.93
Shares after: 195,278
Date: 24 Mar 2025
Ownership: Direct
Footnotes: F1, F3

CVNA transaction

Class A Common Stock

Sale

Transaction value: $148,711
Shares: -733
Change %: -0.38%
Price: $202.88
Shares after: 194,545
Date: 24 Mar 2025
Ownership: Direct
Footnotes: F1, F4

CVNA transaction

Class A Common Stock

Sale

Transaction value: $61,140
Shares: -300
Change %: -0.15%
Price: $203.80
Shares after: 194,245
Date: 24 Mar 2025
Ownership: Direct
Footnotes: F1, F5

CVNA transaction

Class A Common Stock

Sale

Transaction value: $179,227
Shares: -873
Change %: -0.45%
Price: $205.30
Shares after: 193,372
Date: 24 Mar 2025
Ownership: Direct
Footnotes: F1, F6

CVNA transaction

Class A Common Stock

Sale

Transaction value: $452,050
Shares: -2,189
Change %: -1.1%
Price: $206.51
Shares after: 191,183
Date: 24 Mar 2025
Ownership: Direct
Footnotes: F1, F7

CVNA transaction

Class A Common Stock

Sale

Transaction value: $1,038,400
Shares: -5,000
Change %: -2.6%
Price: $207.68
Shares after: 186,183
Date: 24 Mar 2025
Ownership: Direct
Footnotes: F1, F8

CVNA transaction

Class A Common Stock

Sale

Transaction value: $1,726,453
Shares: -8,274
Change %: -4.4%
Price: $208.66
Shares after: 177,909
Date: 24 Mar 2025
Ownership: Direct
Footnotes: F1, F9

CVNA transaction

Class A Common Stock

Sale

Transaction value: $1,433,048
Shares: -6,840
Change %: -3.8%
Price: $209.51
Shares after: 171,069
Date: 24 Mar 2025
Ownership: Direct
Footnotes: F1, F10

CVNA transaction

Class A Common Stock

Sale

Transaction value: $883,297
Shares: -4,193
Change %: -2.5%
Price: $210.66
Shares after: 166,876
Date: 24 Mar 2025
Ownership: Direct
Footnotes: F1, F11

CVNA transaction

Class A Common Stock

Sale

Transaction value: $929,287
Shares: -4,394
Change %: -2.6%
Price: $211.49
Shares after: 162,482
Date: 24 Mar 2025
Ownership: Direct
Footnotes: F1, F12

CVNA transaction

Class A Common Stock

Sale

Transaction value: $212,780
Shares: -1,000
Change %: -0.62%
Price: $212.78
Shares after: 161,482
Date: 24 Mar 2025
Ownership: Direct
Footnotes: F1, F13

CVNA transaction

Class A Common Stock

Sale

Transaction value: $2,467,934
Shares: -11,554
Change %: -7.2%
Price: $213.60
Shares after: 149,928
Date: 24 Mar 2025
Ownership: Direct
Footnotes: F1, F14

CVNA transaction

Class A Common Stock

Sale

Transaction value: $783,509
Shares: -3,650
Change %: -2.4%
Price: $214.66
Shares after: 146,278
Date: 24 Mar 2025
Ownership: Direct
Footnotes: F1, F15

CVNA transaction

Class A Common Stock

Conversion of derivative security

Transaction value: $0
Shares: +31,838
Change %: +22%
Price: $0.000000
Shares after: 178,116
Date: 26 Mar 2025
Ownership: Direct
Footnotes: F1, F16, F17

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

CVNA transaction Derivative

Class B Units

Conversion of derivative security

Transaction value: $0
Shares: -39,798
Change %: -21%
Price: $0.000000
Shares after: 153,949
Date: 26 Mar 2025
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 31,838
Exercise price: $0.000000
Footnotes: F1, F16, F17

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Rule 10b5-1 trading plan

These transactions were reported as open-market trades under a Rule 10b5-1 plan. The plan lets an insider set trading instructions in advance, which can reduce the risk of trading while in possession of material nonpublic information.

Original filing language: transaction made pursuant to a contract, instruction, or written plan intended to satisfy Rule 10b5-1(c).

Explanation of responses 17 footnotes

Footnote F1

The reported unit conversions and sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 13, 2024 (the "10b5-1 Plan").

Footnote F2

This transaction was executed in multiple trades at prices ranging from $200.00 to $200.95, 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.

Footnote F3

This transaction was executed in multiple trades at prices ranging from $201.34 to $202.23, 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.

Footnote F4

This transaction was executed in multiple trades at prices ranging from $202.53 to $203.44, 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.

Footnote F5

This transaction was executed in multiple trades at prices ranging from $203.57 to $204.26, 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.

Footnote F6

This transaction was executed in multiple trades at prices ranging from $204.90 to $205.89, 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.

Footnote F7

This transaction was executed in multiple trades at prices ranging from $205.95 to $206.92, 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.

Footnote F8

This transaction was executed in multiple trades at prices ranging from $207.06 to $208.05, 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.

Footnote F9

This transaction was executed in multiple trades at prices ranging from $208.08 to $209.07, 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.

Footnote F10

This transaction was executed in multiple trades at prices ranging from $209.08 to $210.07 , 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.

Footnote F11

This transaction was executed in multiple trades at prices ranging from $210.08 to $211.07, 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.

Footnote F12

This transaction was executed in multiple trades at prices ranging from $211.08 to $212.00, 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.

Footnote F13

This transaction was executed in multiple trades at prices ranging from $212.18 to $213.17, 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.

Footnote F14

This transaction was executed in multiple trades at prices ranging from $213.18 to $214.15, 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.

Footnote F15

This transaction was executed in multiple trades at prices ranging from $214.18 to $215.08, 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.

Footnote F16

Mr. Huston was granted 1,000,000 Class B common units ("Class B Units") of Carvana Group, LLC ("Carvana Group") on March 24, 2015 with a participation threshold of $0.00; 250,000 vested on the grant date and 16,667 vest on the first of each month thereafter.

Footnote F17

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.