Carvana (CVNA) executive Taira Thomas sells 5,590 shares under 10b5-1 plan

Filing Impact

(High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

CARVANA CO. President, Special Projects Taira Thomas reported selling a total of 5,590 shares of Class A Common Stock in open-market transactions. The sales occurred on May 8, 2026 at weighted-average prices of $80.63 for 1,143 shares and $79.80 for 4,447 shares.

The filing states these transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted on August 8, 2025, and that each sale was broken into multiple trades within price ranges of $79.22–$80.19 and $80.25–$80.98, respectively.

Insights

Routine, pre-planned insider sale of a modest share amount.

Taira Thomas, President, Special Projects at CARVANA CO., sold 5,590 shares of Class A Common Stock in two open-market transactions. Reported prices were volume-weighted averages of $80.63 and $79.80, reflecting execution across intraday price ranges.

The filing specifies these sales were carried out under a Rule 10b5-1 trading plan adopted on August 8, 2025. Such plans are established in advance, which generally signals routine portfolio management rather than reactive trading based on near-term information.

From an investor perspective, this is a net sale of 5,590 shares with no related option exercises or derivative positions disclosed in this filing. The economic impact depends on Thomas’s overall holdings and the company’s share count, which are not detailed here, so the event appears administratively routine.

Insider Trade Summary 10b5-1

Net Seller: 5,590 shares ($447,031)

Net Sell 2 txns

Insider Taira Thomas

Role President, Special Projects

Sold 5,590 shs ($447K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	4,447	$79.80	$355K
Sale	Class A Common Stock	1,143	$80.63	$92K

Holdings After Transaction: Class A Common Stock — 61,595 shares (Direct, null)

Footnotes (1)

The reported sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 8, 2025. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price. This transaction was executed in multiple trades at prices ranging from $79.22 to $80.19 inclusive. This transaction was executed in multiple trades at prices ranging from $80.25 to $80.98 inclusive.

Key Figures

Shares sold (total): 5,590 shares First tranche shares: 1,143 shares First tranche price range: $79.22–$80.19 +4 more

7 metrics

Shares sold (total) 5,590 shares Net open-market sales on May 8, 2026

First tranche shares 1,143 shares Sold at $80.63 volume-weighted average price

First tranche price range $79.22–$80.19 Multiple trades within this range

Second tranche shares 4,447 shares Sold at $79.80 volume-weighted average price

Second tranche price range $80.25–$80.98 Multiple trades within this range

Net buy/sell shares -5,590 shares Form 4 transaction summary, net-sell direction

Trading plan adoption date August 8, 2025 Rule 10b5-1 plan governing these sales

Key Terms

Rule 10b5-1 trading plan, volume weighted average sale price, Class A Common Stock, open-market sale, +1 more

5 terms

Rule 10b5-1 trading plan regulatory

"The reported sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 8, 2025."

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

volume weighted average sale price financial

"The price reported above reflects the volume weighted average sale price."

Class A Common Stock financial

"security_title: Class A Common Stock"

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

open-market sale financial

"transaction_action: open-market sale"

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-derivative financial

"transaction_type: non-derivative"

Form 4 Insider Transactions: What Each Field Means →

05/11/2026 - 07:35 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^*

Taira Thomas

(Last)

(First)

(Middle)

300 E. RIO SALADO PKWY

(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)
	President, Special Projects

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/08/2026

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	05/08/2026		S		4,447⁽¹⁾	D	$79.8⁽²⁾⁽³⁾	61,595	D
Class A Common Stock	05/08/2026		S		1,143⁽¹⁾	D	$80.63⁽²⁾⁽⁴⁾	60,452	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. The reported sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 8, 2025.

2. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

3. This transaction was executed in multiple trades at prices ranging from $79.22 to $80.19 inclusive.

4. This transaction was executed in multiple trades at prices ranging from $80.25 to $80.98 inclusive.

Remarks:

	/s/ Paul Breaux, by Power of Attorney for Thomas Taira	05/11/2026
	** 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) executive Taira Thomas report?

Taira Thomas reported selling 5,590 shares of Carvana Class A Common Stock in open-market transactions. The sales took place on May 8, 2026, in two tranches of 1,143 and 4,447 shares, according to the Form 4 filing.

At what prices did Taira Thomas sell CVNA Class A shares?

Thomas reported volume-weighted average sale prices of $80.63 for 1,143 shares and $79.80 for 4,447 shares. The trades were executed in multiple transactions within price ranges of $79.22–$80.19 and $80.25–$80.98, respectively.

Was the Carvana (CVNA) insider sale by Taira Thomas under a Rule 10b5-1 plan?

Yes. The Form 4 states the reported sale was executed pursuant to a Rule 10b5-1 trading plan adopted by Taira Thomas on August 8, 2025. Such pre-arranged plans are designed to systematize trading and reduce concerns about trade timing.

How many Carvana (CVNA) shares did Taira Thomas sell in total?

The Form 4 shows a total net sale of 5,590 shares of Carvana Class A Common Stock. This consists of 1,143 shares at a weighted-average price of $80.63 and 4,447 shares at a weighted-average price of $79.80.

What type of insider transaction code was used in the Carvana (CVNA) Form 4?

Both transactions are coded “S,” indicating open-market or private sale of non-derivative securities. The filing describes them as open-market sales of Class A Common Stock, not option exercises, grants, or tax-withholding dispositions.

Does the Form 4 show any Carvana (CVNA) derivative or option exercises by Taira Thomas?

No. The derivative section of the filing is empty, and the transaction summary reports zero derivative exercises. The only reported activity is the sale of 5,590 shares of Class A Common Stock in open-market transactions.