Carvana director sells 15,000 shares after option exercise
CARVANA CO. director Ira J. Platt reported an exercise-and-sell transaction involving the company’s Class A Common Stock.
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Form Type
4
Rhea-AI Filing Summary
CARVANA CO. director Ira J. Platt reported an exercise-and-sell transaction involving the company’s Class A Common Stock. He exercised non-qualified stock options for 15,000 shares at an exercise price of $3.00 per share, then sold 7,500 shares at $68.00 and 7,500 shares at $67.65 in open-market trades on June 15, 2026. After these transactions, he held 193,970 shares directly and also reported indirect holdings of 102,125 and 56,290 shares in trusts benefiting his spouse, plus 9,995 shares held by the Platt Family Foundation, where he has voting and investment power but disclaims beneficial ownership except to the extent of his pecuniary interest.
Insider Trade Summary
Exercise and Sale: 15,000 shares ($972K approx. pre-tax spread)
Exercise and Sale
7 txns
Insider
PLATT IRA J.
Role
Director
Sold
15,000 shs ($1.02M)
Approx. gross sale proceeds
$1.02M
Approx. exercise cost
$45K
Approx. pre-tax spread
$972K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Options (Right to Buy) | 15,000 | $0.00 | $0.00 |
| Exercise | Class A Common Stock | 15,000 | $3.00 | $45K |
| Sale | Class A Common Stock | 7,500 | $67.65 | $507K |
| Sale | Class A Common Stock | 7,500 | $68.00 | $510K |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Options (Right to Buy) — 89,640 contracts (Direct);
Class A Common Stock — 186,470 shares (Direct);
Class A Common Stock — 158,415 shares (Indirect, By Trust);
Class A Common Stock — 9,995 shares (Indirect, Platt Family Foundation)
Footnotes (5)
- F1. All amounts reflect the five for one forward stock split conducted by the issuer on May 7, 2026.
- F2. These Class A Shares are held directly by the Ira J. Platt Revocable Trust (the "Revocable"). The Reporting Person is co-trustee of the Trust, and the Reporting Person's spouse is the primary beneficiary of the Trust.
- F3. Represents shares of Class A common stock held directly by the Georgiana Platt and Successors Remainder Trust (the "Settlers Trust"). The Reporting Person's spouse is co-trustee and primary beneficiary of the Settlers Trust.
- F4. Represents shares of Class A common stock held by the Platt Family Foundation (the "Foundation"), a charitable organization. The Reporting Person has voting and investment power over all securities owned by the Foundation. The Reporting Person disclaims beneficial ownership of the shares, except to the extent of his pecuniary interest therein.
- F5. The non-qualified stock options representing the right to purchase for the exercise price Class A Common Stock of the Issuer vested 25% on April 1, 2018 and monthly thereafter for the following three years, subject to the Reporting Person's continued service with the Issuer.
Key Figures
Shares sold: 15,000 shares
Sale prices: $68.00 and $67.65 per share
Options exercised: 15,000 shares at $3.00/share
+5 more
8 metrics
Shares sold
15,000 shares
Class A Common Stock sold in two open-market trades on June 15, 2026
Sale prices
$68.00 and $67.65 per share
Prices for 7,500 shares each of Class A Common Stock
Options exercised
15,000 shares at $3.00/share
Non-qualified stock options for Class A Common Stock
Direct holdings after transactions
193,970 shares
Class A Common Stock held directly following June 15, 2026 trades
Revocable trust holdings
102,125 shares
Indirect Class A Common Stock via Ira J. Platt Revocable Trust
Remainder trust holdings
56,290 shares
Indirect Class A Common Stock via Georgiana Platt and Successors Remainder Trust
Foundation holdings
9,995 shares
Class A Common Stock held by Platt Family Foundation
Remaining options
89,640 options
Stock options outstanding after exercising 15,000 from this grant
Key Terms
open-market sale, non-qualified stock options, five for one forward stock split, Revocable Trust, +2 more
6 terms
open-market sale financial
"Sale in open market or private transaction"
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
non-qualified stock options financial
"The non-qualified stock options representing the right to purchase for the exercise price Class A Common Stock"
Non-qualified stock options are a type of employee benefit that gives individuals the right to buy company shares at a set price, usually lower than the market value, within a certain period. Unlike other options that may have special tax advantages, these options are taxed as income when exercised, which can affect how much money the employee or investor ultimately gains. They are important because they can influence company compensation strategies and impact the financial outcomes for employees and investors.
five for one forward stock split financial
"All amounts reflect the five for one forward stock split conducted by the issuer on May 7, 2026"
Revocable Trust financial
"held directly by the Ira J. Platt Revocable Trust (the "Revocable")"
A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.
Remainder Trust financial
"held directly by the Georgiana Platt and Successors Remainder Trust (the "Settlers Trust")"
Platt Family Foundation financial
"held by the Platt Family Foundation (the "Foundation"), a charitable organization"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Carvana (CVNA) director Ira J. Platt report in this Form 4?
Ira J. Platt reported exercising stock options and selling Carvana Class A shares. He exercised 15,000 options at $3.00 per share, then sold 15,000 shares in two open-market trades, updating both his direct and indirect ownership positions.
What stock options did Ira J. Platt exercise in Carvana (CVNA)?
Platt exercised non-qualified stock options for 15,000 underlying Carvana Class A shares. These options carried an exercise price of $3.00 per share and were part of a grant that vested beginning on April 1, 2018, with remaining options reported after exercise.
What indirect Carvana (CVNA) holdings are associated with Ira J. Platt?
Indirectly, Platt reported 102,125 and 56,290 Carvana Class A shares held by revocable and remainder trusts where his spouse is a primary beneficiary, plus 9,995 shares held by the Platt Family Foundation, a charitable organization over which he has voting and investment power.
AI-generated analysis. How Rhea-AI works. Not financial advice.
