Carvana insider plans sale of 40,000 shares valued at $18.9M

A holder of Carvana Co. (CVNA) common stock filed a notice of intent to sell 40,000 shares of common stock through Morgan Stanley Smith Barney LLC on the NYSE.

Rhea-AI Filing Summary

A holder of Carvana Co. (CVNA) common stock filed a notice of intent to sell 40,000 shares of common stock through Morgan Stanley Smith Barney LLC on the NYSE. The shares to be sold have an indicated aggregate market value of 18,909,200.00, compared with 141,423,193 shares outstanding of the same class. The seller acquired these 40,000 shares on 12/12/2025 by exercising stock options and paying the purchase price in cash on the same date. Over the prior three months, the filing also discloses a separate sale of 80,000 common shares on 12/08/2025 for gross proceeds of 35,160,000.00 in 10b5-1 sales for the Daniel J Gill & Lian B Gill Family Trust.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many Carvana (CVNA) shares are proposed to be sold in this Form 144?

The notice covers a proposed sale of 40,000 shares of Carvana Co. common stock.

What is the aggregate market value of the Carvana shares to be sold?

The aggregate market value of the 40,000 common shares to be sold is listed as 18,909,200.00.

How were the 40,000 Carvana (CVNA) shares being sold acquired?

The 40,000 common shares were acquired on 12/12/2025 through an exercise of stock options, with the purchase price paid in cash on the same date.

How many Carvana common shares are outstanding according to this notice?

The filing notes that there are 141,423,193 common shares outstanding of Carvana Co.

What prior Carvana share sales in the last three months does the Form 144 disclose?

It discloses that 80,000 common shares were sold on 12/08/2025 for gross proceeds of 35,160,000.00 in 10b5-1 sales for the DANIEL J GILL & LIAN B GILL FAMILY TRUST.

On which exchange is the proposed Carvana (CVNA) sale expected to take place and through which broker?

The 40,000 common shares are to be sold on the NYSE through Morgan Stanley Smith Barney LLC Executive Financial Services.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 12/12/2025 - 04:22 PM EST Learn about SEC filing dates

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK	0001700538
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	CARVANA CO
SEC File Number	001-38073
Address of Issuer	300 E. Rio Salado Parkway Tempe ARIZONA 85281
Phone	6029229866
Name of Person for Whose Account the Securities are To Be Sold	DANIEL & LIAN GILL FAMILY TRUST
See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.
Relationship to Issuer	Officer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	40000	18909200.00	141423193	12/12/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	12/12/2025	Exercise of Stock Options	Issuer			40000	12/12/2025	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
10b5-1 Sales for DANIEL J GILL & LIAN B GILL FAMILY TRUST 300 E. Rio Salado Parkway Tempe AZ 85281	Common	12/08/2025	80000	35160000.00

144: Remarks and Signature

Remarks
Date of Notice	12/12/2025
Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1	12/13/2024
ATTENTION:
The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.
Signature	/s/ Daniel J Gill, Trustee
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)