Benjamin E. Huston - 31 Mar 2025 Form 4 Insider Report for CARVANA CO. (CVNA)

Reporting relationship: Chief Operating Officer
Issuer ticker: CVNA
Reported as of: 31 Mar 2025
Net transaction value: -$11,282,843
SEC form: 4
Accepted by SEC: 02 Apr 2025, 18:33:19 UTC
Prior SEC filing: 26 Mar 2025
Next SEC filing: 09 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 02 Apr 2025.

Key facts

This page summarizes Benjamin E. Huston's Form 4 filing for CARVANA CO. (CVNA).
21 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 02 Apr 2025, 18:33.

Change

Previous filing in this sequence was filed on 26 Mar 2025.
Current net transaction value: -$11,282,843.

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: $135,933
Shares: -700
Change %: -0.39%
Price: $194.19
Shares after: 177,416
Date: 31 Mar 2025
Ownership: Direct
Footnotes: F1, F2

CVNA transaction

Class A Common Stock

Sale

Transaction value: $214,885
Shares: -1,100
Change %: -0.62%
Price: $195.35
Shares after: 176,316
Date: 31 Mar 2025
Ownership: Direct
Footnotes: F1, F3

CVNA transaction

Class A Common Stock

Sale

Transaction value: $157,000
Shares: -800
Change %: -0.45%
Price: $196.25
Shares after: 175,516
Date: 31 Mar 2025
Ownership: Direct
Footnotes: F1, F4

CVNA transaction

Class A Common Stock

Sale

Transaction value: $158,040
Shares: -800
Change %: -0.46%
Price: $197.55
Shares after: 174,716
Date: 31 Mar 2025
Ownership: Direct
Footnotes: F1, F5

CVNA transaction

Class A Common Stock

Sale

Transaction value: $159,272
Shares: -800
Change %: -0.46%
Price: $199.09
Shares after: 173,916
Date: 31 Mar 2025
Ownership: Direct
Footnotes: F1, F6

CVNA transaction

Class A Common Stock

Sale

Transaction value: $220,011
Shares: -1,096
Change %: -0.63%
Price: $200.74
Shares after: 172,820
Date: 31 Mar 2025
Ownership: Direct
Footnotes: F1, F7

CVNA transaction

Class A Common Stock

Sale

Transaction value: $419,041
Shares: -2,076
Change %: -1.2%
Price: $201.85
Shares after: 170,744
Date: 31 Mar 2025
Ownership: Direct
Footnotes: F1, F8

CVNA transaction

Class A Common Stock

Sale

Transaction value: $447,359
Shares: -2,207
Change %: -1.3%
Price: $202.70
Shares after: 168,537
Date: 31 Mar 2025
Ownership: Direct
Footnotes: F1, F9

CVNA transaction

Class A Common Stock

Sale

Transaction value: $377,623
Shares: -1,853
Change %: -1.1%
Price: $203.79
Shares after: 166,684
Date: 31 Mar 2025
Ownership: Direct
Footnotes: F1, F10

CVNA transaction

Class A Common Stock

Sale

Transaction value: $395,438
Shares: -1,930
Change %: -1.2%
Price: $204.89
Shares after: 164,754
Date: 31 Mar 2025
Ownership: Direct
Footnotes: F1, F11

CVNA transaction

Class A Common Stock

Sale

Transaction value: $61,815
Shares: -300
Change %: -0.18%
Price: $206.05
Shares after: 164,454
Date: 31 Mar 2025
Ownership: Direct
Footnotes: F1, F12

CVNA transaction

Class A Common Stock

Sale

Transaction value: $530,520
Shares: -2,555
Change %: -1.6%
Price: $207.64
Shares after: 161,899
Date: 31 Mar 2025
Ownership: Direct
Footnotes: F1, F13

CVNA transaction

Class A Common Stock

Sale

Transaction value: $1,887,134
Shares: -9,051
Change %: -5.6%
Price: $208.50
Shares after: 152,848
Date: 31 Mar 2025
Ownership: Direct
Footnotes: F1, F14

CVNA transaction

Class A Common Stock

Sale

Transaction value: $2,512,769
Shares: -12,001
Change %: -7.9%
Price: $209.38
Shares after: 140,847
Date: 31 Mar 2025
Ownership: Direct
Footnotes: F1, F15

CVNA transaction

Class A Common Stock

Sale

Transaction value: $1,109,019
Shares: -5,269
Change %: -3.7%
Price: $210.48
Shares after: 135,578
Date: 31 Mar 2025
Ownership: Direct
Footnotes: F1, F16

CVNA transaction

Class A Common Stock

Sale

Transaction value: $1,185,712
Shares: -5,607
Change %: -4.1%
Price: $211.47
Shares after: 129,971
Date: 31 Mar 2025
Ownership: Direct
Footnotes: F1, F17

CVNA transaction

Class A Common Stock

Sale

Transaction value: $309,027
Shares: -1,455
Change %: -1.1%
Price: $212.39
Shares after: 128,516
Date: 31 Mar 2025
Ownership: Direct
Footnotes: F1, F18

CVNA transaction

Class A Common Stock

Sale

Transaction value: $85,344
Shares: -400
Change %: -0.31%
Price: $213.36
Shares after: 128,116
Date: 31 Mar 2025
Ownership: Direct
Footnotes: F1, F19

CVNA transaction

Class A Common Stock

Tax liability

Transaction value: $916,901
Shares: -4,313
Change %: -3.4%
Price: $212.59
Shares after: 123,803
Date: 01 Apr 2025
Ownership: Direct
Footnotes: F20

CVNA transaction

Class A Common Stock

Conversion of derivative security

Transaction value: $0
Shares: +50,000
Change %: +40%
Price: $0.000000
Shares after: 173,803
Date: 02 Apr 2025
Ownership: Direct
Footnotes: F1, F21, F22

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: -62,500
Change %: -41%
Price: $0.000000
Shares after: 91,449
Date: 02 Apr 2025
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 50,000
Exercise price: $0.000000
Footnotes: F1, F21, F22

^* 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 22 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 $193.61 to $194.53, 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 $194.70 to $195.65, 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 $195.70 to $196.66, 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 $197.00 to $197.90, 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 $198.60 to $199.47, 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 $200.19 to $201.18, 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 $201.19 to $202.13, 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 $202.20 to $203.19, 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 $203.20 to $204.19, 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 $204.41 to $205.40, 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 $205.65 to $206.49, 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 $206.98 to $207.97, 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 $207.98 to $208.96, 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 $208.98 to $209.97, 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

This transaction was executed in multiple trades at prices ranging from $210.00 to $210.99, 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 F17

This transaction was executed in multiple trades at prices ranging from $211.00 to $211.94, 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 F18

This transaction was executed in multiple trades at prices ranging from $212.06 to $212.94, 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 F19

This transaction was executed in multiple trades at prices ranging from $213.14 to $213.66, 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 F20

Represents total number of shares of Class A Common Stock of the Issuer withheld for taxes upon vesting of restricted stock units pursuant to various awards.

Footnote F21

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 F22

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.