[Form 4] Carvana Co. Insider Trading Activity
Ernest C. Garcia III, Carvana's CEO, director and 10% owner, reported sales totaling 923,155 shares of Class A common stock executed on 08/07/2025 under a Rule 10b5-1 trading plan adopted December 13, 2024.
The transactions were completed in multiple trades at prices ranging from $352.72 to $367.88 per share; several volume-weighted average prices are reported (examples include $353.24, $354.05, $355.10). Following these dispositions the filing shows the Ernest Irrevocable 2004 Trust III and the Ernest C. Garcia III Multi-Generational Trust III hold approximately 566,440 and 666,440 Class A shares, respectively. The filing notes the reporting person is trustee for both trusts and offers to provide detailed trade breakdowns upon request.
Ernest C. Garcia III, amministratore delegato, membro del consiglio e azionista al 10% di Carvana, ha segnalato la vendita di 923,155 azioni di classe A eseguite il 08/07/2025 nell'ambito di un piano di negoziazione ai sensi della Rule 10b5-1 adottato il 13 dicembre 2024.
Le operazioni sono state completate in più trade a prezzi compresi tra $352.72 e $367.88 per azione; sono riportati diversi prezzi medi ponderati per volume (esempi: $353.24, $354.05, $355.10). A seguito di queste cessioni, il documento indica che l'Ernest Irrevocable 2004 Trust III e l'Ernest C. Garcia III Multi-Generational Trust III detengono rispettivamente circa 566,440 e 666,440 azioni di classe A. Il filing precisa che la persona che ha effettuato la segnalazione è trustee di entrambi i trust e si offre di fornire, su richiesta, il dettaglio delle singole operazioni.
Ernest C. Garcia III, director ejecutivo, miembro del consejo y propietario del 10% de Carvana, informó ventas por un total de 923,155 acciones de la clase A ejecutadas el 08/07/2025 bajo un plan de negociación Rule 10b5-1 adoptado el 13 de diciembre de 2024.
Las transacciones se realizaron en múltiples operaciones a precios entre $352.72 y $367.88 por acción; se reportan varios precios promedio ponderados por volumen (ejemplos: $353.24, $354.05, $355.10). Tras estas disposiciones, el informe muestra que el Ernest Irrevocable 2004 Trust III y el Ernest C. Garcia III Multi-Generational Trust III poseen aproximadamente 566,440 y 666,440 acciones de la clase A, respectivamente. El informe señala que la persona informante es fiduciario de ambos trusts y ofrece proporcionar, a petición, un desglose detallado de las operaciones.
Ernest C. Garcia III는 Carvana의 최고경영자(CEO)이자 이사, 10% 지분 보유자로서 08/07/2025에 923,155주의 클래스 A 보통주를 2024년 12월 13일 채택된 Rule 10b5-1 거래계획에 따라 처분했다고 보고했습니다.
거래는 주당 $352.72에서 $367.88 사이의 가격으로 여러 차례에 걸쳐 체결되었으며, 일부 거래의 거래량 가중 평균가가 보고되었습니다(예: $353.24, $354.05, $355.10). 이 처분 이후 신고서에는 Ernest Irrevocable 2004 Trust III와 Ernest C. Garcia III Multi-Generational Trust III가 각각 약 566,440주 및 666,440주의 클래스 A 주식을 보유하고 있는 것으로 기재되어 있습니다. 신고인은 두 트러스트의 수탁자(트러스티)이며 요청 시 개별 거래 내역을 제공하겠다고 밝혔습니다.
Ernest C. Garcia III, PDG, administrateur et détenteur de 10% de Carvana, a déclaré des ventes totalisant 923,155 actions de catégorie A exécutées le 08/07/2025 dans le cadre d'un plan de trading Rule 10b5-1 adopté le 13 décembre 2024.
Les opérations ont été réalisées en plusieurs transactions à des prix allant de $352.72 à $367.88 par action ; plusieurs prix moyens pondérés par le volume sont indiqués (exemples : $353.24, $354.05, $355.10). À la suite de ces cessions, le dépôt indique que l'Ernest Irrevocable 2004 Trust III et l'Ernest C. Garcia III Multi-Generational Trust III détiennent respectivement environ 566,440 et 666,440 actions de classe A. Le document précise que la personne déclarante est le fiduciaire des deux trusts et propose, sur demande, de fournir une ventilation détaillée des opérations.
Ernest C. Garcia III, CEO, Director und 10%-Eigentümer von Carvana, meldete Verkäufe von insgesamt 923,155 Class-A-Aktien, ausgeführt am 08/07/2025 im Rahmen eines am 13. Dezember 2024 abgeschlossenen Rule 10b5-1-Handelsplans.
Die Transaktionen wurden in mehreren Trades zu Preisen zwischen $352.72 und $367.88 pro Aktie ausgeführt; es werden mehrere volumengewichtete Durchschnittspreise angegeben (Beispiele: $353.24, $354.05, $355.10). Nach diesen Veräußerungen geht aus der Meldung hervor, dass der Ernest Irrevocable 2004 Trust III und der Ernest C. Garcia III Multi-Generational Trust III jeweils etwa 566,440 bzw. 666,440 Class-A-Aktien halten. Die Meldung weist darauf hin, dass die meldepflichtige Person Treuhänder (Trustee) beider Trusts ist und anbietet, auf Anfrage eine detaillierte Aufschlüsselung der Trades zu übermitteln.
- Sales executed under a documented Rule 10b5-1 trading plan (adopted December 13, 2024), reducing concerns about opportunistic timing
- Detailed disclosure of price ranges and VWAPs with an undertaking to provide full trade breakdowns upon request
- Trustee roles disclosed and post-transaction trust holdings reported (~566,440 and ~666,440 Class A shares)
- Large insider disposition: total of 923,155 Class A shares sold, a material volume for investors to note
- Increased free float from the executed trades could exert short-term supply pressure on the market for CVNA shares
Insights
TL;DR: Large preplanned insider sale of 923,155 CVNA shares; executed across a wide price range but structured under a 10b5-1 plan.
The Form 4 discloses a sizeable disposition of Class A shares totaling 923,155 executed on 08/07/2025. Trades occurred across prices from $352.72 to $367.88, with multiple reported VWAPs. Because the sales were conducted under a Rule 10b5-1 plan adopted December 13, 2024, the transactions are prearranged rather than ad hoc. The immediate numeric impacts are the reduction in directly held shares shown in the filing and the stated holdings of roughly 566,440 and 666,440 shares in two trusts. Investors should note the increase in available float from the executed trades, though the filing itself does not state intent beyond the planned execution.
TL;DR: Use of a documented 10b5-1 plan and explicit trustee disclosures increase procedural transparency; material volume nonetheless notable.
The filing clearly identifies the reporting person as CEO, director and a 10% owner and discloses his roles as Investment Trustee and Co-Administrative Trustee for two trusts that held shares before and after the sales. The seller used a Rule 10b5-1 trading plan adopted December 13, 2024, which reduces concerns about opportunistic timing. The filer also documents VWAP ranges and commits to provide granular trade details upon request, which supports disclosure quality. From a governance perspective, the form is procedurally complete and transparent while reporting a material insider disposition.
Ernest C. Garcia III, amministratore delegato, membro del consiglio e azionista al 10% di Carvana, ha segnalato la vendita di 923,155 azioni di classe A eseguite il 08/07/2025 nell'ambito di un piano di negoziazione ai sensi della Rule 10b5-1 adottato il 13 dicembre 2024.
Le operazioni sono state completate in più trade a prezzi compresi tra $352.72 e $367.88 per azione; sono riportati diversi prezzi medi ponderati per volume (esempi: $353.24, $354.05, $355.10). A seguito di queste cessioni, il documento indica che l'Ernest Irrevocable 2004 Trust III e l'Ernest C. Garcia III Multi-Generational Trust III detengono rispettivamente circa 566,440 e 666,440 azioni di classe A. Il filing precisa che la persona che ha effettuato la segnalazione è trustee di entrambi i trust e si offre di fornire, su richiesta, il dettaglio delle singole operazioni.
Ernest C. Garcia III, director ejecutivo, miembro del consejo y propietario del 10% de Carvana, informó ventas por un total de 923,155 acciones de la clase A ejecutadas el 08/07/2025 bajo un plan de negociación Rule 10b5-1 adoptado el 13 de diciembre de 2024.
Las transacciones se realizaron en múltiples operaciones a precios entre $352.72 y $367.88 por acción; se reportan varios precios promedio ponderados por volumen (ejemplos: $353.24, $354.05, $355.10). Tras estas disposiciones, el informe muestra que el Ernest Irrevocable 2004 Trust III y el Ernest C. Garcia III Multi-Generational Trust III poseen aproximadamente 566,440 y 666,440 acciones de la clase A, respectivamente. El informe señala que la persona informante es fiduciario de ambos trusts y ofrece proporcionar, a petición, un desglose detallado de las operaciones.
Ernest C. Garcia III는 Carvana의 최고경영자(CEO)이자 이사, 10% 지분 보유자로서 08/07/2025에 923,155주의 클래스 A 보통주를 2024년 12월 13일 채택된 Rule 10b5-1 거래계획에 따라 처분했다고 보고했습니다.
거래는 주당 $352.72에서 $367.88 사이의 가격으로 여러 차례에 걸쳐 체결되었으며, 일부 거래의 거래량 가중 평균가가 보고되었습니다(예: $353.24, $354.05, $355.10). 이 처분 이후 신고서에는 Ernest Irrevocable 2004 Trust III와 Ernest C. Garcia III Multi-Generational Trust III가 각각 약 566,440주 및 666,440주의 클래스 A 주식을 보유하고 있는 것으로 기재되어 있습니다. 신고인은 두 트러스트의 수탁자(트러스티)이며 요청 시 개별 거래 내역을 제공하겠다고 밝혔습니다.
Ernest C. Garcia III, PDG, administrateur et détenteur de 10% de Carvana, a déclaré des ventes totalisant 923,155 actions de catégorie A exécutées le 08/07/2025 dans le cadre d'un plan de trading Rule 10b5-1 adopté le 13 décembre 2024.
Les opérations ont été réalisées en plusieurs transactions à des prix allant de $352.72 à $367.88 par action ; plusieurs prix moyens pondérés par le volume sont indiqués (exemples : $353.24, $354.05, $355.10). À la suite de ces cessions, le dépôt indique que l'Ernest Irrevocable 2004 Trust III et l'Ernest C. Garcia III Multi-Generational Trust III détiennent respectivement environ 566,440 et 666,440 actions de classe A. Le document précise que la personne déclarante est le fiduciaire des deux trusts et propose, sur demande, de fournir une ventilation détaillée des opérations.
Ernest C. Garcia III, CEO, Director und 10%-Eigentümer von Carvana, meldete Verkäufe von insgesamt 923,155 Class-A-Aktien, ausgeführt am 08/07/2025 im Rahmen eines am 13. Dezember 2024 abgeschlossenen Rule 10b5-1-Handelsplans.
Die Transaktionen wurden in mehreren Trades zu Preisen zwischen $352.72 und $367.88 pro Aktie ausgeführt; es werden mehrere volumengewichtete Durchschnittspreise angegeben (Beispiele: $353.24, $354.05, $355.10). Nach diesen Veräußerungen geht aus der Meldung hervor, dass der Ernest Irrevocable 2004 Trust III und der Ernest C. Garcia III Multi-Generational Trust III jeweils etwa 566,440 bzw. 666,440 Class-A-Aktien halten. Die Meldung weist darauf hin, dass die meldepflichtige Person Treuhänder (Trustee) beider Trusts ist und anbietet, auf Anfrage eine detaillierte Aufschlüsselung der Trades zu übermitteln.