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[Form 4] Carvana Co. Insider Trading Activity

Filing Impact
(High)
Filing Sentiment
(Very Negative)
Form Type
4
Rhea-AI Filing Summary

Ernest C. Garcia II and ECG II SPE, LLC reported conversions and open-market sales of Carvana Co. (CVNA) securities. On 08/08/2025 Mr. Garcia converted Class A Units into 72,500 Class A shares and sold those shares in multiple transactions under a 10b5-1 trading plan. On 08/11/2025 he converted another 50,000 Class A shares and sold them in multiple transactions. The sales were executed at weighted-average prices reported in ranges roughly between $339.99 and $356.38 depending on the tranche. Following the reported sales, Mr. Garcia’s direct beneficial ownership of Class A common stock is reported as 0 shares, while he directly holds 34,620,292 Class B shares and ECG II SPE, LLC owns 8,000,000 Class A Units (described in the filing as exchangeable under the Exchange Agreement). The filing cites compliance with the Exchange Agreement and the 10b5-1 plan adopted December 13, 2024.

Ernest C. Garcia II e ECG II SPE, LLC hanno segnalato conversioni e vendite sul mercato aperto di titoli di Carvana Co. (CVNA). In data 08/08/2025 il sig. Garcia ha convertito Unità di Classe A in 72,500 azioni di Classe A e ha venduto tali azioni in più operazioni nell'ambito di un piano di negoziazione 10b5-1. In data 08/11/2025 ha convertito ulteriori 50,000 azioni di Classe A e le ha vendute in più operazioni. Le vendite sono state eseguite a prezzi medi ponderati riportati in intervalli approssimativi compresi tra $339.99 e $356.38 a seconda della tranche. A seguito delle vendite segnalate, la partecipazione diretta del sig. Garcia in azioni ordinarie di Classe A è riportata come 0 azioni, mentre detiene direttamente 34,620,292 azioni di Classe B ed ECG II SPE, LLC possiede 8,000,000 Unità di Classe A (descritte nella comunicazione come convertibili ai sensi dell'Accordo di Scambio). La comunicazione cita il rispetto dell'Accordo di Scambio e del piano 10b5-1 adottato il 13 dicembre 2024.

Ernest C. Garcia II y ECG II SPE, LLC informaron conversiones y ventas en el mercado abierto de valores de Carvana Co. (CVNA). El 08/08/2025 el Sr. Garcia convirtió Unidades Clase A en 72,500 acciones Clase A y vendió esas acciones en varias transacciones bajo un plan de negociación 10b5-1. El 08/11/2025 convirtió otras 50,000 acciones Clase A y las vendió en múltiples operaciones. Las ventas se ejecutaron a precios promedio ponderados reportados en rangos aproximadamente entre $339.99 y $356.38, según la tanda. Tras las ventas informadas, la tenencia directa del Sr. Garcia de acciones ordinarias Clase A se reporta como 0 acciones, mientras que posee directamente 34,620,292 acciones Clase B y ECG II SPE, LLC es dueña de 8,000,000 Unidades Clase A (descritas en la presentación como canjeables en virtud del Acuerdo de Intercambio). La presentación cita el cumplimiento del Acuerdo de Intercambio y del plan 10b5-1 adoptado el 13 de diciembre de 2024.

Ernest C. Garcia II와 ECG II SPE, LLC는 Carvana Co. (CVNA) 증권의 전환 및 장내 매각을 보고했습니다. 08/08/2025에 Garcia 씨는 클래스 A 유닛을 72,500개의 클래스 A 주식으로 전환한 뒤, 이를 여러 거래로 매도했습니다(해당 거래는 10b5-1 거래 계획에 따라 이루어졌습니다). 08/11/2025에는 추가로 50,000개의 클래스 A 주식을 전환하여 여러 거래로 매도했습니다. 매도는 트랜치별로 대략 $339.99에서 $356.38 사이의 보고된 가중평균 가격으로 실행되었습니다. 보고된 매도 이후 Garcia 씨의 클래스 A 보통주 직접 소유는 0주로 보고되며, 그는 직접 34,620,292주의 클래스 B 주식을 보유하고 있고 ECG II SPE, LLC는 교환계약에 따라 교환 가능한 것으로 설명된 8,000,000개의 클래스 A 유닛을 소유하고 있습니다. 제출서류에는 교환계약 및 2024년 12월 13일에 채택된 10b5-1 계획을 준수한다고 기재되어 있습니다.

Ernest C. Garcia II et ECG II SPE, LLC ont déclaré des conversions et des ventes sur le marché libre de titres de Carvana Co. (CVNA). Le 08/08/2025, M. Garcia a converti des unités de classe A en 72,500 actions de classe A et a vendu ces actions dans plusieurs opérations dans le cadre d'un plan de négociation 10b5-1. Le 08/11/2025, il a converti 50,000 actions de classe A supplémentaires et les a vendues en plusieurs opérations. Les ventes ont été exécutées à des prix moyens pondérés reportés dans des fourchettes situées approximativement entre $339.99 et $356.38, selon la tranche. À la suite des ventes signalées, la détention directe de M. Garcia d'actions ordinaires de classe A est indiquée comme étant de 0 action, tandis qu'il détient directement 34,620,292 actions de classe B et que ECG II SPE, LLC possède 8,000,000 unités de classe A (décrites dans le dépôt comme échangeables en vertu de l'Accord d'Échange). Le dépôt mentionne le respect de l'Accord d'Échange et du plan 10b5-1 adopté le 13 décembre 2024.

Ernest C. Garcia II und ECG II SPE, LLC meldeten Umwandlungen und Verkäufe am freien Markt von Wertpapieren der Carvana Co. (CVNA). Am 08/08/2025 wandelte Herr Garcia Class-A-Einheiten in 72,500 Class-A-Aktien um und verkaufte diese Aktien in mehreren Transaktionen im Rahmen eines 10b5-1-Handelsplans. Am 08/11/2025 wandelte er weitere 50,000 Class-A-Aktien und verkaufte diese ebenfalls in mehreren Transaktionen. Die Verkäufe wurden zu gewichteten Durchschnittspreisen ausgeführt, die in Berichten für die einzelnen Tranchen ungefähr zwischen $339.99 und $356.38 liegen. Nach den gemeldeten Verkäufen wird die direkte wirtschaftliche Beteiligung von Herrn Garcia an Class-A-Stammaktien mit 0 Aktien angegeben, während er direkt 34,620,292 Class-B-Aktien hält und ECG II SPE, LLC 8,000,000 Class-A-Einheiten besitzt (in der Meldung als nach dem Austauschvertrag umtauschbar beschrieben). Die Meldung verweist auf die Einhaltung des Austauschvertrags und des am 13. Dezember 2024 angenommenen 10b5-1-Plans.

Positive
  • Full disclosure of conversions and sales with tranche-level weighted-average prices and an offer to provide detailed sale information to the issuer or SEC staff.
  • Sales executed under a 10b5-1 trading plan (adopted December 13, 2024), indicating the transactions followed a pre-established protocol rather than ad hoc insider trades.
  • Continued substantial ownership via 34,620,292 Class B shares and ECG II SPE, LLC’s reported 8,000,000 Class A Units, preserving material economic and governance interest.
Negative
  • Significant open-market sales totaling 122,500 Class A shares across 08/08/2025 and 08/11/2025, which reduced the reporting person’s direct Class A holdings to 0 shares.
  • Large tranche sales at prices between $339.99 and $356.38 may be perceived by some investors as notable insider liquidity, given the size and sequence of transactions.

Insights

TL;DR: Large conversions followed by scheduled sales under a 10b5-1 plan; direct Class A holdings reduced to zero while substantial Class B and unit holdings remain.

The Form 4 discloses that Ernest C. Garcia II converted Class A Units into Class A common shares on 08/08/2025 and 08/11/2025 and sold the converted shares through multiple transactions executed under a pre-established 10b5-1 trading plan. The reported weighted-average sale prices span roughly $340 to $356. Material facts: 122,500 Class A shares were converted and sold in total, resulting in 0 direct Class A shares remaining. From a trading perspective, the explicit use of a 10b5-1 plan and the Exchange Agreement provides procedural context but does not, by itself, indicate intent; the sales are significant in size and fully documented in the filing.

TL;DR: Transactions are disclosed and executed under pre-existing agreements and a 10b5-1 plan; substantial residual Class B/unit ownership remains.

The filing documents conversions pursuant to the Exchange Agreement and sales pursuant to a 10b5-1 plan adopted December 13, 2024, which supports compliance with insider-trading protocols. The reporting person retains large holdings via Class B shares (34,620,292) and ECG II SPE, LLC’s ownership of 8,000,000 Class A Units (described as exchangeable under the Exchange Agreement). For governance review, the disclosure is thorough: conversion, cancellation of certain Class B shares in connection with conversions, tranche-level weighted-average prices and an offer to provide granular sale-price details to the issuer or SEC staff are all explicitly provided.

Ernest C. Garcia II e ECG II SPE, LLC hanno segnalato conversioni e vendite sul mercato aperto di titoli di Carvana Co. (CVNA). In data 08/08/2025 il sig. Garcia ha convertito Unità di Classe A in 72,500 azioni di Classe A e ha venduto tali azioni in più operazioni nell'ambito di un piano di negoziazione 10b5-1. In data 08/11/2025 ha convertito ulteriori 50,000 azioni di Classe A e le ha vendute in più operazioni. Le vendite sono state eseguite a prezzi medi ponderati riportati in intervalli approssimativi compresi tra $339.99 e $356.38 a seconda della tranche. A seguito delle vendite segnalate, la partecipazione diretta del sig. Garcia in azioni ordinarie di Classe A è riportata come 0 azioni, mentre detiene direttamente 34,620,292 azioni di Classe B ed ECG II SPE, LLC possiede 8,000,000 Unità di Classe A (descritte nella comunicazione come convertibili ai sensi dell'Accordo di Scambio). La comunicazione cita il rispetto dell'Accordo di Scambio e del piano 10b5-1 adottato il 13 dicembre 2024.

Ernest C. Garcia II y ECG II SPE, LLC informaron conversiones y ventas en el mercado abierto de valores de Carvana Co. (CVNA). El 08/08/2025 el Sr. Garcia convirtió Unidades Clase A en 72,500 acciones Clase A y vendió esas acciones en varias transacciones bajo un plan de negociación 10b5-1. El 08/11/2025 convirtió otras 50,000 acciones Clase A y las vendió en múltiples operaciones. Las ventas se ejecutaron a precios promedio ponderados reportados en rangos aproximadamente entre $339.99 y $356.38, según la tanda. Tras las ventas informadas, la tenencia directa del Sr. Garcia de acciones ordinarias Clase A se reporta como 0 acciones, mientras que posee directamente 34,620,292 acciones Clase B y ECG II SPE, LLC es dueña de 8,000,000 Unidades Clase A (descritas en la presentación como canjeables en virtud del Acuerdo de Intercambio). La presentación cita el cumplimiento del Acuerdo de Intercambio y del plan 10b5-1 adoptado el 13 de diciembre de 2024.

Ernest C. Garcia II와 ECG II SPE, LLC는 Carvana Co. (CVNA) 증권의 전환 및 장내 매각을 보고했습니다. 08/08/2025에 Garcia 씨는 클래스 A 유닛을 72,500개의 클래스 A 주식으로 전환한 뒤, 이를 여러 거래로 매도했습니다(해당 거래는 10b5-1 거래 계획에 따라 이루어졌습니다). 08/11/2025에는 추가로 50,000개의 클래스 A 주식을 전환하여 여러 거래로 매도했습니다. 매도는 트랜치별로 대략 $339.99에서 $356.38 사이의 보고된 가중평균 가격으로 실행되었습니다. 보고된 매도 이후 Garcia 씨의 클래스 A 보통주 직접 소유는 0주로 보고되며, 그는 직접 34,620,292주의 클래스 B 주식을 보유하고 있고 ECG II SPE, LLC는 교환계약에 따라 교환 가능한 것으로 설명된 8,000,000개의 클래스 A 유닛을 소유하고 있습니다. 제출서류에는 교환계약 및 2024년 12월 13일에 채택된 10b5-1 계획을 준수한다고 기재되어 있습니다.

Ernest C. Garcia II et ECG II SPE, LLC ont déclaré des conversions et des ventes sur le marché libre de titres de Carvana Co. (CVNA). Le 08/08/2025, M. Garcia a converti des unités de classe A en 72,500 actions de classe A et a vendu ces actions dans plusieurs opérations dans le cadre d'un plan de négociation 10b5-1. Le 08/11/2025, il a converti 50,000 actions de classe A supplémentaires et les a vendues en plusieurs opérations. Les ventes ont été exécutées à des prix moyens pondérés reportés dans des fourchettes situées approximativement entre $339.99 et $356.38, selon la tranche. À la suite des ventes signalées, la détention directe de M. Garcia d'actions ordinaires de classe A est indiquée comme étant de 0 action, tandis qu'il détient directement 34,620,292 actions de classe B et que ECG II SPE, LLC possède 8,000,000 unités de classe A (décrites dans le dépôt comme échangeables en vertu de l'Accord d'Échange). Le dépôt mentionne le respect de l'Accord d'Échange et du plan 10b5-1 adopté le 13 décembre 2024.

Ernest C. Garcia II und ECG II SPE, LLC meldeten Umwandlungen und Verkäufe am freien Markt von Wertpapieren der Carvana Co. (CVNA). Am 08/08/2025 wandelte Herr Garcia Class-A-Einheiten in 72,500 Class-A-Aktien um und verkaufte diese Aktien in mehreren Transaktionen im Rahmen eines 10b5-1-Handelsplans. Am 08/11/2025 wandelte er weitere 50,000 Class-A-Aktien und verkaufte diese ebenfalls in mehreren Transaktionen. Die Verkäufe wurden zu gewichteten Durchschnittspreisen ausgeführt, die in Berichten für die einzelnen Tranchen ungefähr zwischen $339.99 und $356.38 liegen. Nach den gemeldeten Verkäufen wird die direkte wirtschaftliche Beteiligung von Herrn Garcia an Class-A-Stammaktien mit 0 Aktien angegeben, während er direkt 34,620,292 Class-B-Aktien hält und ECG II SPE, LLC 8,000,000 Class-A-Einheiten besitzt (in der Meldung als nach dem Austauschvertrag umtauschbar beschrieben). Die Meldung verweist auf die Einhaltung des Austauschvertrags und des am 13. Dezember 2024 angenommenen 10b5-1-Plans.

SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
X
 Check this box to indicate that a 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). See Instruction 10.
1. Name and Address of Reporting Person*
GARCIA ERNEST C. II
(Last) (First) (Middle)
1720 W. RIO SALADO PARKWAY
SUITE A
(Street)
TEMPE AZ 85281
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
CARVANA CO. [ CVNA ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
08/08/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Class A Common Stock 08/08/2025 C 72,500 A (1) 72,500 D
Class A Common Stock 08/08/2025 S(2) 2,614 D $342.3883(3)(4) 69,886 D
Class A Common Stock 08/08/2025 S(2) 2,186 D $343.0864(3)(4) 67,700 D
Class A Common Stock 08/08/2025 S(2) 6,419 D $344.5534(3)(4) 61,281 D
Class A Common Stock 08/08/2025 S(2) 11,877 D $345.3918(3)(4) 49,404 D
Class A Common Stock 08/08/2025 S(2) 10,621 D $346.3395(3)(4) 38,783 D
Class A Common Stock 08/08/2025 S(2) 5,834 D $347.3962(3)(4) 32,949 D
Class A Common Stock 08/08/2025 S(2) 2,749 D $348.2503(3)(4) 30,200 D
Class A Common Stock 08/08/2025 S(2) 1,440 D $349.3331(3)(4) 28,760 D
Class A Common Stock 08/08/2025 S(2) 11,485 D $350.2886(3)(4) 17,275 D
Class A Common Stock 08/08/2025 S(2) 7,184 D $351.3974(3)(4) 10,091 D
Class A Common Stock 08/08/2025 S(2) 5,221 D $352.4337(3)(4) 4,870 D
Class A Common Stock 08/08/2025 S(2) 3,470 D $353.3312(3)(4) 1,400 D
Class A Common Stock 08/08/2025 S(2) 1,000 D $354.5072(3)(4) 400 D
Class A Common Stock 08/08/2025 S(2) 400 D $356.375(3)(4) 0 D
Class A Common Stock 08/11/2025 C 50,000 A (1) 50,000 D
Class A Common Stock 08/11/2025 S(2) 800 D $339.9863(5) 49,200 D
Class A Common Stock 08/11/2025 S(2) 2,027 D $341.3621(5) 47,173 D
Class A Common Stock 08/11/2025 S(2) 2,319 D $342.086(5) 44,854 D
Class A Common Stock 08/11/2025 S(2) 5,923 D $343.3838(5) 38,931 D
Class A Common Stock 08/11/2025 S(2) 9,932 D $344.2928(5) 28,999 D
Class A Common Stock 08/11/2025 S(2) 20,165 D $345.1149(5) 8,834 D
Class A Common Stock 08/11/2025 S(2) 5,010 D $346.2257(5) 3,824 D
Class A Common Stock 08/11/2025 S(2) 2,324 D $347.1806(5) 1,500 D
Class A Common Stock 08/11/2025 S(2) 1,200 D $348.1658(5) 300 D
Class A Common Stock 08/11/2025 S(2) 300 D $348.97(5) 0 D
Class B Common Stock 08/08/2025 J 72,500 D (6) 34,670,292 D
Class B Common Stock 08/11/2025 J 50,000 D (6) 34,620,292 D
Class B Common Stock 8,000,000 I ECG II SPE, LLC(7)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Class A Units (1) 08/08/2025 C 90,625 (1) (1) Class A Common Stock 72,500 $0 43,337,864 D
Class A Units (1) 08/11/2025 C 62,500 (1) (1) Class A Common Stock 50,000 $0 43,275,364 D
Class A Units $0 (8) (8) Class A Common Stock 10,000,000 10,000,000 I ECG II SPE, LLC
1. Name and Address of Reporting Person*
GARCIA ERNEST C. II
(Last) (First) (Middle)
1720 W. RIO SALADO PARKWAY
SUITE A
(Street)
TEMPE AZ 85281
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
ECG II SPE, LLC
(Last) (First) (Middle)
1720 W. RIO SALADO PARKWAY
SUITE A
(Street)
TEMPE AZ 85281
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
Explanation of Responses:
1. Reflects the conversion of Class A Common Units ("Class A Units") of Carvana Group, LLC ("Carvana Group") owned directly by Ernest C. Garcia II into shares of Class A Common Stock ("Class A Shares") of the Issuer pursuant to the Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the "Exchange Agreement").
2. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by Ernest C. Garcia II and Elizabeth Joanne Garcia on December 13, 2024.
3. The prices reported in Column 4 are weighted average prices. These shares were sold in multiple transactions at prices ranging from $341.69-$342.67, inclusive (weighted average of $342.3883); $342.70-$343.69, inclusive (weighted average of $343.0864); $343.92-$344.91, inclusive (weighted average of $344.5534); $344.92-$345.915, inclusive (weighted average of $345.3918); $345.92-$346.80, inclusive (weighted average of $346.3395); $346.93-$347.90, inclusive (weighted average of $347.3962); $347.98-$348.96, inclusive (weighted average of $348.2503); $349.00-$349.90, inclusive (weighted average of $349.3331); $350.00-$350.99, inclusive (weighted average of $350.2886); $351.00-$351.97, inclusive (weighted average of $351.3974); $352.00-$352.96, inclusive (weighted average of $352.4337); $353.07-$353.94, inclusive (weighted average of $353.3312); $354.355-$354.92, inclusive (weighted average of $354.5072); and $356.35-$356.40, inclusive (weighted average of $356.375), respectively.
4. The reporting person undertakes to provide to the issuer or to the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth herein.
5. The prices reported in Column 4 are weighted average prices. These shares were sold in multiple transactions at prices ranging from $339.27-$340.19, inclusive (weighted average of $339.9863); $340.66-$341.64, inclusive (weighted average of $341.3621); $341.68-$342.61, inclusive (weighted average of $342.086); $342.76-$343.75, inclusive (weighted average of $343.3838); $343.76-$344.75, inclusive (weighted average of $344.2928); $344.76-$345.74, inclusive (weighted average of $345.1149); $345.76-$346.725, inclusive (weighted average of $346.2257); $346.81-$347.78, inclusive (weighted average of $347.1806); $347.87-$348.39, inclusive (weighted average of $348.1658) and $348.95-$348.98, inclusive (weighted average of $348.97), respectively. The reporting person undertakes to provide to the issuer or to the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth herein.
6. Reflects the cancellation for no consideration of Class B Common Stock of the Issuer ("Class B Shares") in connection with the conversion of Class A Units into Class A Shares. Following the reported transaction, the remaining Class B Shares are owned directly by Ernest C. Garcia II.
7. These Class B Shares are owned directly by ECG II SPE, LLC ("E-SPE"), an entity which Mr. Garcia wholly owns and controls.
8. These Class A Units are owned directly by E-SPE and are exchangeable for 0.8 Class A Shares pursuant to the Exchange Agreement.
/s/ Ernest C. Garcia II 08/12/2025
/s/ Ernest C. Garcia II, ECG II SPE, LLC 08/12/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

What transactions did Ernest C. Garcia II report on the Form 4 for CVNA?

The filing reports conversions of Class A Units into Class A common stock and subsequent open-market sales on 08/08/2025 and 08/11/2025, executed under a 10b5-1 trading plan.

How many Class A shares were converted and sold by Garcia II (CVNA)?

The filing shows conversions and sales totaling 122,500 Class A shares (72,500 on 08/08/2025 and 50,000 on 08/11/2025).

At what prices were the CVNA shares sold?

Sales were executed in multiple tranches with reported weighted-average prices in tranche ranges; weighted averages reported range approximately from $339.99 to $356.38 depending on the tranche.

Were the sales part of a pre-arranged plan for CVNA insider trades?

Yes. The Form 4 states the sales were effected pursuant to a Rule 10b5-1 trading plan adopted by Ernest C. Garcia II and Elizabeth Joanne Garcia on December 13, 2024.

What ownership does Garcia II retain in CVNA after these transactions?

After the reported sales, the filing reports 0 direct Class A shares for Mr. Garcia, 34,620,292 Class B shares owned directly, and ECG II SPE, LLC owning 8,000,000 Class A Units (exchangeable per the Exchange Agreement).
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Carvana

NYSE:CVNA

CVNA Rankings

#302 Ranked by Market Cap
N/A Ranked by Dividends

CVNA Latest News

Aug 14, 2025
Carvana Expands Same-Day Delivery to the Greater Chicago Area
Aug 6, 2025
Carvana Report Reveals Record EV and PHEV Sales Mix
Aug 5, 2025
Carvana to Present at Upcoming J.P. Morgan Automotive Conference
Jul 30, 2025
Carvana Announces Record Second Quarter 2025 Results
Jul 28, 2025
Carvana Brings Inspection and Reconditioning Center Capabilities to ADESA Seattle

CVNA Latest SEC Filings

Aug 14, 2025
[Form 4] Carvana Co. Insider Trading Activity
Aug 14, 2025
[Form 4] Carvana Co. Insider Trading Activity
Aug 14, 2025
[SCHEDULE 13G/A] Carvana Co. SEC Filing
Aug 14, 2025
[144] Carvana Co. SEC Filing
Aug 13, 2025
[Form 4] Carvana Co. Insider Trading Activity

CVNA Stock Data

47.65B
134.89M
2.61%
89.85%
9.26%
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