[Form 4] Carvana Co. Insider Trading Activity
Ernest C. Garcia III, who serves as Chief Executive Officer, a director and a reported >10% owner of Carvana Co. (CVNA), reported a series of market sales of Class A common stock executed on 08/13/2025. The Form 4 shows an aggregate disposal of 923,155 shares, sold pursuant to a Rule 10b5-1 trading plan adopted December 13, 2024. The reported trades were executed in multiple transactions and reported with volume-weighted average prices and grouped price ranges, spanning approximately $343.83 to $351.24.
The shares sold were held indirectly in two trusts: the Ernest Irrevocable 2004 Trust III and the Ernest C. Garcia III Multi-Generational Trust III, for which the reporting person is Investment Trustee and Co-Administrative Trustee. Following the reported transactions the Form 4 lists indirect beneficial ownership of 546,440 and 646,440 Class A shares in the two trusts, respectively, as reported on the form.
Ernest C. Garcia III, che ricopre la carica di Chief Executive Officer, membro del consiglio e azionista segnalato con oltre il 10% di Carvana Co. (CVNA), ha comunicato una serie di vendite sul mercato di azioni ordinarie di Classe A eseguite il 13/08/2025. Il Form 4 indica una cessione complessiva di 923,155 azioni, effettuata ai sensi di un piano di negoziazione Rule 10b5-1 adottato il 13 dicembre 2024. Le operazioni sono state eseguite in più transazioni e riportate con prezzi medi ponderati per volume e fasce di prezzo, comprese approssimativamente tra $343.83 e $351.24.
Le azioni vendute erano detenute indirettamente in due trust: l'Ernest Irrevocable 2004 Trust III e l'Ernest C. Garcia III Multi-Generational Trust III, per i quali la persona che ha effettuato la comunicazione è Investment Trustee e Co-Administrative Trustee. A seguito delle operazioni segnalate, il Form 4 indica una titolarità beneficiaria indiretta di 546,440 e 646,440 azioni di Classe A nei due trust, rispettivamente.
Ernest C. Garcia III, que actúa como Chief Executive Officer, miembro del consejo y accionista declarado con más del 10% de Carvana Co. (CVNA), informó sobre una serie de ventas en el mercado de acciones ordinarias Clase A ejecutadas el 13/08/2025. El Form 4 muestra una disposición agregada de 923,155 acciones, vendidas en virtud de un plan de negociación conforme a la Regla 10b5-1 adoptado el 13 de diciembre de 2024. Las operaciones se realizaron en múltiples transacciones y se reportaron con precios medios ponderados por volumen y rangos de precio, abarcando aproximadamente $343.83 a $351.24.
Las acciones vendidas estaban en manos indirectas de dos fideicomisos: Ernest Irrevocable 2004 Trust III y Ernest C. Garcia III Multi-Generational Trust III, para los cuales la persona que informa actúa como Investment Trustee y Co-Administrative Trustee. Tras las transacciones comunicadas, el Form 4 indica una tenencia beneficiaria indirecta de 546,440 y 646,440 acciones Clase A en los dos fideicomisos, respectivamente.
Ernest C. Garcia III는 최고경영자(Chief Executive Officer), 이사이자 Carvana Co. (CVNA)의 보고상 10% 초과 지분 보유자로서 2025년 8월 13일에 실행된 일련의 Class A 보통주 시장 매각을 보고했습니다. Form 4에는 Rule 10b5-1 거래계획에 따라 2024년 12월 13일 채택된 계획에 따라 처분된 총계 923,155주가 보고되어 있습니다. 해당 매매는 여러 거래로 실행되었으며 거래량 가중 평균 가격과 가격 구간으로 보고되었고, 대략 $343.83~$351.24 범위에 걸쳐 있습니다.
매도된 주식은 Ernest Irrevocable 2004 Trust III 및 Ernest C. Garcia III Multi-Generational Trust III라는 두 트러스트에 간접적으로 보유되어 있었으며, 보고인(보고한 사람)은 이들에 대해 Investment Trustee 및 Co-Administrative Trustee로 등재되어 있습니다. 보고된 거래 이후 Form 4에는 두 트러스트에 대해 각각 546,440주 및 646,440주의 Class A 주식에 대한 간접적 수익적 소유가 기재되어 있습니다.
Ernest C. Garcia III, qui occupe les fonctions de Chief Executive Officer, administrateur et actionnaire déclaré à plus de 10% de Carvana Co. (CVNA), a déclaré une série de ventes sur le marché d'actions ordinaires de catégorie A exécutées le 13/08/2025. Le Form 4 indique une cession agrégée de 923,155 actions, vendues conformément à un plan de négociation en vertu de la règle 10b5-1 adopté le 13 décembre 2024. Les opérations rapportées ont été exécutées en plusieurs transactions et communiquées avec des prix moyens pondérés par le volume et des fourchettes de prix regroupées, s'étendant approximativement de $343.83 à $351.24.
Les actions vendues étaient détenues indirectement dans deux trusts : Ernest Irrevocable 2004 Trust III et Ernest C. Garcia III Multi-Generational Trust III, pour lesquels la personne déclarant agit en tant qu'Investment Trustee et Co-Administrative Trustee. À la suite des transactions signalées, le Form 4 indique une détention bénéficiaire indirecte de 546,440 et 646,440 actions de catégorie A dans les deux trusts, respectivement.
Ernest C. Garcia III, der als Chief Executive Officer, Direktor und gemeldeter Inhaber von mehr als 10% von Carvana Co. (CVNA) fungiert, meldete eine Reihe von Marktverkäufen von Class A Stammaktien, die am 13.08.2025 ausgeführt wurden. Das Form 4 weist eine Gesamtabgabe von 923,155 Aktien aus, verkauft im Rahmen eines Rule 10b5-1 Handelsplans, der am 13. Dezember 2024 angenommen wurde. Die gemeldeten Transaktionen wurden in mehreren Ausführungen getätigt und mit volumengewichteten Durchschnittspreisen und gruppierten Preisbereichen angegeben, die sich ungefähr von $343.83 bis $351.24 erstrecken.
Die verkauften Aktien wurden indirekt in zwei Trusts gehalten: dem Ernest Irrevocable 2004 Trust III und dem Ernest C. Garcia III Multi-Generational Trust III, für die die meldende Person als Investment Trustee und Co-Administrative Trustee fungiert. Nach den gemeldeten Transaktionen verzeichnet das Form 4 eine indirekte wirtschaftliche Beteiligung von jeweils 546,440 und 646,440 Class A Aktien in den beiden Trusts.
- Sales executed under a pre-established Rule 10b5-1 trading plan, adopted December 13, 2024, which provides procedural clarity
- Aggregate sales amount clearly disclosed: the Form reports an aggregate disposal of 923,155 shares
- Trust ownership and trustee roles disclosed, specifying the Ernest Irrevocable 2004 Trust III and the Ernest C. Garcia III Multi-Generational Trust III and the reporting person's trustee status
- Substantial insider disposition: a large block of 923,155 shares was sold, which is material in size and could affect market supply or investor perception
- Multiple trade executions across price bands indicate sizable liquidity removal from the reporting person's indirect holdings on the transaction date
Insights
TL;DR: CEO sold a large block of shares under a pre-established 10b5-1 plan; transparent reporting but could affect float.
The sale of 923,155 shares by the CEO and >10% owner is material in size and was executed under a Rule 10b5-1 plan, which reduces concerns about opportunistic timing but still increases available supply in the market. The Form 4 discloses volume-weighted average prices grouped across multiple trade brackets, offering price context from roughly $343.83 to $351.24. For investors, the key facts are the magnitude of the disposition and that it was pre-planned; the filing itself does not provide reasons for the sales beyond the plan.
TL;DR: Insider selling followed an established trading plan; governance disclosure is complete but warrants monitoring.
The Form 4 clearly identifies the reporting persons roles and the two trusts that held the sold shares, and it states the trades were effected pursuant to a 10b5-1 plan adopted December 13, 2024. That pre-established arrangement provides procedural governance cover for the transactions, and the filer commits to provide trade-level detail on request. While disclosure is thorough, large insider dispositions by a CEO and significant owner remain consequential for stakeholder perception and should be tracked in subsequent filings.
Ernest C. Garcia III, che ricopre la carica di Chief Executive Officer, membro del consiglio e azionista segnalato con oltre il 10% di Carvana Co. (CVNA), ha comunicato una serie di vendite sul mercato di azioni ordinarie di Classe A eseguite il 13/08/2025. Il Form 4 indica una cessione complessiva di 923,155 azioni, effettuata ai sensi di un piano di negoziazione Rule 10b5-1 adottato il 13 dicembre 2024. Le operazioni sono state eseguite in più transazioni e riportate con prezzi medi ponderati per volume e fasce di prezzo, comprese approssimativamente tra $343.83 e $351.24.
Le azioni vendute erano detenute indirettamente in due trust: l'Ernest Irrevocable 2004 Trust III e l'Ernest C. Garcia III Multi-Generational Trust III, per i quali la persona che ha effettuato la comunicazione è Investment Trustee e Co-Administrative Trustee. A seguito delle operazioni segnalate, il Form 4 indica una titolarità beneficiaria indiretta di 546,440 e 646,440 azioni di Classe A nei due trust, rispettivamente.
Ernest C. Garcia III, que actúa como Chief Executive Officer, miembro del consejo y accionista declarado con más del 10% de Carvana Co. (CVNA), informó sobre una serie de ventas en el mercado de acciones ordinarias Clase A ejecutadas el 13/08/2025. El Form 4 muestra una disposición agregada de 923,155 acciones, vendidas en virtud de un plan de negociación conforme a la Regla 10b5-1 adoptado el 13 de diciembre de 2024. Las operaciones se realizaron en múltiples transacciones y se reportaron con precios medios ponderados por volumen y rangos de precio, abarcando aproximadamente $343.83 a $351.24.
Las acciones vendidas estaban en manos indirectas de dos fideicomisos: Ernest Irrevocable 2004 Trust III y Ernest C. Garcia III Multi-Generational Trust III, para los cuales la persona que informa actúa como Investment Trustee y Co-Administrative Trustee. Tras las transacciones comunicadas, el Form 4 indica una tenencia beneficiaria indirecta de 546,440 y 646,440 acciones Clase A en los dos fideicomisos, respectivamente.
Ernest C. Garcia III는 최고경영자(Chief Executive Officer), 이사이자 Carvana Co. (CVNA)의 보고상 10% 초과 지분 보유자로서 2025년 8월 13일에 실행된 일련의 Class A 보통주 시장 매각을 보고했습니다. Form 4에는 Rule 10b5-1 거래계획에 따라 2024년 12월 13일 채택된 계획에 따라 처분된 총계 923,155주가 보고되어 있습니다. 해당 매매는 여러 거래로 실행되었으며 거래량 가중 평균 가격과 가격 구간으로 보고되었고, 대략 $343.83~$351.24 범위에 걸쳐 있습니다.
매도된 주식은 Ernest Irrevocable 2004 Trust III 및 Ernest C. Garcia III Multi-Generational Trust III라는 두 트러스트에 간접적으로 보유되어 있었으며, 보고인(보고한 사람)은 이들에 대해 Investment Trustee 및 Co-Administrative Trustee로 등재되어 있습니다. 보고된 거래 이후 Form 4에는 두 트러스트에 대해 각각 546,440주 및 646,440주의 Class A 주식에 대한 간접적 수익적 소유가 기재되어 있습니다.
Ernest C. Garcia III, qui occupe les fonctions de Chief Executive Officer, administrateur et actionnaire déclaré à plus de 10% de Carvana Co. (CVNA), a déclaré une série de ventes sur le marché d'actions ordinaires de catégorie A exécutées le 13/08/2025. Le Form 4 indique une cession agrégée de 923,155 actions, vendues conformément à un plan de négociation en vertu de la règle 10b5-1 adopté le 13 décembre 2024. Les opérations rapportées ont été exécutées en plusieurs transactions et communiquées avec des prix moyens pondérés par le volume et des fourchettes de prix regroupées, s'étendant approximativement de $343.83 à $351.24.
Les actions vendues étaient détenues indirectement dans deux trusts : Ernest Irrevocable 2004 Trust III et Ernest C. Garcia III Multi-Generational Trust III, pour lesquels la personne déclarant agit en tant qu'Investment Trustee et Co-Administrative Trustee. À la suite des transactions signalées, le Form 4 indique une détention bénéficiaire indirecte de 546,440 et 646,440 actions de catégorie A dans les deux trusts, respectivement.
Ernest C. Garcia III, der als Chief Executive Officer, Direktor und gemeldeter Inhaber von mehr als 10% von Carvana Co. (CVNA) fungiert, meldete eine Reihe von Marktverkäufen von Class A Stammaktien, die am 13.08.2025 ausgeführt wurden. Das Form 4 weist eine Gesamtabgabe von 923,155 Aktien aus, verkauft im Rahmen eines Rule 10b5-1 Handelsplans, der am 13. Dezember 2024 angenommen wurde. Die gemeldeten Transaktionen wurden in mehreren Ausführungen getätigt und mit volumengewichteten Durchschnittspreisen und gruppierten Preisbereichen angegeben, die sich ungefähr von $343.83 bis $351.24 erstrecken.
Die verkauften Aktien wurden indirekt in zwei Trusts gehalten: dem Ernest Irrevocable 2004 Trust III und dem Ernest C. Garcia III Multi-Generational Trust III, für die die meldende Person als Investment Trustee und Co-Administrative Trustee fungiert. Nach den gemeldeten Transaktionen verzeichnet das Form 4 eine indirekte wirtschaftliche Beteiligung von jeweils 546,440 und 646,440 Class A Aktien in den beiden Trusts.
FAQ
Who filed the Form 4 for CVNA?
How many Carvana (CVNA) shares were sold by the reporting person?
Were the sales part of a Rule 10b5-1 trading plan for CVNA?
What price range is shown for the CVNA sales?
What indirect holdings remain after the reported CVNA transactions?
