Mark W. Jenkins - 06 Jun 2025 Form 4 Insider Report for CARVANA CO. (CVNA)

Role
Chief Financial Officer
Signature
/s/ Paul Breaux, by Power of Attorney for Mark W. Jenkins
Issuer symbol
CVNA
Transactions as of
06 Jun 2025
Net transactions value
-$7,124,160
Form type
4
Filing time
09 Jun 2025, 19:17:27 UTC
Previous filing
03 Jun 2025
Next filing
03 Jul 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
JENKINS MARK W. Chief Financial Officer C/O CARVANA CO., 300 E. RIO SALADO PKWY, TEMPE /s/ Paul Breaux, by Power of Attorney for Mark W. Jenkins 09 Jun 2025 0001700540

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CVNA Class A Common Stock Sale $7,000,000 -20,000 -9.4% $350.00 192,239 06 Jun 2025 Direct F1
transaction CVNA Class A Common Stock Conversion of derivative security $0 +20,000 +10% $0.000000 212,239 09 Jun 2025 Direct F1, F2, F3, F4

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 Class B Units Conversion of derivative security $89,394 -18,326 -100% $4.88 0 09 Jun 2025 Class A Common Stock 14,400 $4.88 Direct F1, F2, F3
transaction CVNA Class B Units Conversion of derivative security $34,766 -7,127 -3.6% $4.88 192,873 09 Jun 2025 Class A Common Stock 5,600 $4.88 Direct F1, F3, F4
* 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 exercises, unit conversions and sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 5, 2024.
F2 Mr. Jenkins was granted the 60,000 Class B Units on January 28, 2016 with a participation threshold of $4.878, 12,000 of which vested on March 1, 2016 and 1,000 of which vested on the first of each month thereafter. The Class B Units have no expiration date.
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 the 200,000 Class B Units on March 24, 2015 with a participation threshold of $4.878, 40,000 of which vested on March 1, 2016 and 3,333 of which vested on the first of each month thereafter. The Class B Units have no expiration date.