[Form 4] CARVANA CO. Insider Trading Activity

Filing Impact

(Very High)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Carvana Co. chief brand officer Ryan S. Keeton reported compensation-related stock activity involving Class A Common Stock. On April 29, 2026, 10,301 shares were acquired at no cost upon vesting of restricted stock units granted under a Performance Restricted Stock Unit Award Agreement. On the same date, 4,260 shares were withheld to cover taxes upon vesting. Following these non-market transactions, Keeton directly owned 81,695 shares of Carvana Class A Common Stock.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider KEETON RYAN S.

Role Chief Brand Officer

Type	Security	Shares	Price	Value
Grant/Award	Class A Common Stock	10,301	$0.00	--
Tax Withholding	Class A Common Stock	4,260	$396.59	$1.69M

Holdings After Transaction: Class A Common Stock — 81,695 shares (Direct, null)

Footnotes (1)

Represents restricted stock units ("RSUs") granted on January 24, 2024 under the Reporting Person's Performance Restricted Stock Unit Award Agreement between Carvana Co. and the Reporting Person, dated January 24, 2024. The performance condition for the RSUs reported herein has been met, and all RSUs reported herein vested on April 29, 2026. Represents shares of Class A Common Stock of the Issuer withheld for taxes upon vesting of RSUs under the Performance Restricted Stock Unit Award Agreement.

Key Figures

RSU shares vested: 10,301 shares Shares withheld for taxes: 4,260 shares Direct holdings after transactions: 81,695 shares +1 more

4 metrics

RSU shares vested 10,301 shares Class A Common Stock acquired at $0.0000 per share on April 29, 2026

Shares withheld for taxes 4,260 shares Class A Common Stock withheld at $396.5900 per share on April 29, 2026

Direct holdings after transactions 81,695 shares Total Class A Common Stock held directly by Ryan S. Keeton after April 29, 2026

Tax-withholding shares (summary) 4,260 shares TaxWithholdingShares in transaction summary for April 29, 2026

Key Terms

restricted stock units ("RSUs"), Performance Restricted Stock Unit Award Agreement, withheld for taxes upon vesting, grant, award, or other acquisition

4 terms

restricted stock units ("RSUs") financial

"Represents restricted stock units ("RSUs") granted on January 24, 2024 under the Reporting Person's Performance Restricted Stock Unit Award Agreement"

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

Performance Restricted Stock Unit Award Agreement financial

"under the Reporting Person's Performance Restricted Stock Unit Award Agreement between Carvana Co. and the Reporting Person, dated January 24, 2024"

withheld for taxes upon vesting financial

"Represents shares of Class A Common Stock of the Issuer withheld for taxes upon vesting of RSUs under the Performance Restricted Stock Unit Award Agreement."

grant, award, or other acquisition financial

"transaction_code_description": "Grant, award, or other acquisition""

Form 4 Insider Transactions: What Each Field Means →

05/01/2026 - 07:01 PM

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).

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^*

KEETON RYAN S.

(Last)

(First)

(Middle)

C/O CARVANA CO.

300 E. RIO SALADO PARKWAY

(Street)

TEMPE

ARIZONA

85281

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
CARVANA CO. [ CVNA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Brand Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/29/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	04/29/2026		A		10,301⁽¹⁾	A	$0	81,695	D
Class A Common Stock	04/29/2026		F		4,260⁽²⁾	D	$396.59	77,435	D

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Represents restricted stock units ("RSUs") granted on January 24, 2024 under the Reporting Person's Performance Restricted Stock Unit Award Agreement between Carvana Co. and the Reporting Person, dated January 24, 2024. The performance condition for the RSUs reported herein has been met, and all RSUs reported herein vested on April 29, 2026.

2. Represents shares of Class A Common Stock of the Issuer withheld for taxes upon vesting of RSUs under the Performance Restricted Stock Unit Award Agreement.

Remarks:

	/s/ Paul Breaux, by Power of Attorney for Ryan S. Keeton	05/01/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Carvana (CVNA) report for Ryan S. Keeton?

Carvana reported that Chief Brand Officer Ryan S. Keeton had restricted stock units vest into 10,301 Class A shares, while 4,260 shares were withheld to cover taxes. These administrative transactions increased his direct holdings to 81,695 shares, without any open-market buying or selling.

Were Ryan S. Keeton’s recent Carvana (CVNA) transactions open-market trades?

No, Ryan S. Keeton’s reported transactions were not open-market trades. They reflect vesting of 10,301 restricted stock units into shares and the withholding of 4,260 shares to satisfy tax obligations, all under a Performance Restricted Stock Unit Award Agreement with Carvana.

How many Carvana (CVNA) shares does Ryan S. Keeton own after these Form 4 transactions?

After the reported Form 4 transactions, Ryan S. Keeton directly owns 81,695 shares of Carvana Class A Common Stock. This figure includes shares received from vested restricted stock units and is net of the 4,260 shares withheld to cover associated tax liabilities at vesting.

What is the role of restricted stock units (RSUs) in Ryan S. Keeton’s Carvana (CVNA) compensation?

Restricted stock units are a key equity component of Ryan S. Keeton’s compensation. RSUs granted on January 24, 2024 vested on April 29, 2026 after performance conditions were met, delivering 10,301 Class A shares, while 4,260 shares were retained by Carvana to pay required taxes.

What does the tax withholding transaction mean in Carvana (CVNA) insider data?

The tax withholding transaction shows 4,260 Carvana Class A shares retained to satisfy tax obligations when restricted stock units vested. This is coded as a tax-withholding disposition, representing payment of taxes in shares, not a discretionary open-market sale by Ryan S. Keeton.