Carvana (CVNA) COO Huston exercises options and sells 50,000 shares under 10b5-1 plan
Rhea-AI Filing Summary
Carvana Co. Chief Operating Officer Benjamin E. Huston reported an exercise-and-sell transaction in Class A Common Stock. He exercised options for 50,000 shares at an exercise price of $2.01 per share and sold 50,000 shares in open-market trades on June 1, 2026.
The sales occurred in three tranches at reported prices of $69.72, $70.78, and $71.25 per share, executed under a pre-arranged Rule 10b5-1 trading plan. An additional 7,016 shares were withheld to cover tax obligations upon vesting of restricted stock units, which is not an open-market sale.
Following these transactions, Huston directly holds 515,769 shares of Carvana Class A Common Stock. The filing shows no remaining derivative option position related to this specific 50,000-share grant after exercise.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and Sale: 50,000 shares ($3.42M approx. pre-tax spread)
Exercise and Sale
6 txns
Insider
HUSTON BENJAMIN E.
Role
Chief Operating Officer
Sold
50,000 shs ($3.52M)
Approx. gross sale proceeds
$3.52M
Approx. exercise cost
$100K
Approx. pre-tax spread
$3.42M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Options (Right to Buy) | 50,000 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Class A Common Stock | 7,016 | $71.00 | $498K |
| Exercise | Class A Common Stock | 50,000 | $2.01 | $100K |
| Sale | Class A Common Stock | 19,105 | $69.72 | $1.33M |
| Sale | Class A Common Stock | 29,071 | $70.78 | $2.06M |
| Sale | Class A Common Stock | 1,824 | $71.25 | $130K |
Holdings After Transaction:
Stock Options (Right to Buy) — 1,442,565 shares (Direct);
Class A Common Stock — 515,769 shares (Direct)
Footnotes (8)
- F1. Represents total number of shares of Class A Common Stock of the Issuer withheld for taxes upon vesting of restricted stock units pursuant to various awards.
- F2. All amounts reflect the five for one forward stock split conducted by the issuer on May 7, 2026.
- F3. The reported option exercises and sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 13, 2024 (the "10b5-1 Plan").
- F4. 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.
- F5. This transaction was executed in multiple trades at prices ranging from $69.15 to $70.14 inclusive.
- F6. This transaction was executed in multiple trades at prices ranging from $70.15 to $71.15 inclusive.
- F7. This transaction was executed in multiple trades at prices ranging from $71.15 to $72.02 inclusive.
- F8. The non-qualified stock options representing the right to purchase for the exercise price Class A Common Stock of the Issuer vested 25% on April 1, 2024 and monthly thereafter for the following three years, subject to the Reporting Person's continued service with the Issuer.
Key Figures
Shares sold: 50,000 shares
Sale prices: $69.72, $70.78, $71.25 per share
Options exercised: 50,000 shares at $2.01/share
+5 more
8 metrics
Shares sold
50,000 shares
Open-market sales of Class A Common Stock on June 1, 2026
Sale prices
$69.72, $70.78, $71.25 per share
Reported transaction prices for three sale tranches
Options exercised
50,000 shares at $2.01/share
Non-qualified stock option exercise into Class A Common Stock
Tax withholding shares
7,016 shares
Shares withheld to cover taxes on RSU vesting
Post-transaction holdings
515,769 shares
Direct Class A Common Stock held after transactions
10b5-1 plan adoption date
December 13, 2024
Date Huston adopted trading plan governing these trades
Stock split
5-for-1 forward split
All amounts adjusted for split conducted on May 7, 2026
Option expiration
February 22, 2033
Expiration date of the exercised stock options
Key Terms
Rule 10b5-1 trading plan, restricted stock units, volume weighted average sale price, non-qualified stock options, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"The reported option exercises and sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 13, 2024"
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.
restricted stock units financial
"shares of Class A Common Stock ... withheld for taxes upon vesting of restricted stock units pursuant to various awards"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
volume weighted average sale price financial
"The price reported above reflects the volume weighted average sale price"
non-qualified stock options financial
"The non-qualified stock options representing the right to purchase for the exercise price Class A Common Stock of the Issuer vested 25% on April 1, 2024"
Non-qualified stock options are a type of employee benefit that gives individuals the right to buy company shares at a set price, usually lower than the market value, within a certain period. Unlike other options that may have special tax advantages, these options are taxed as income when exercised, which can affect how much money the employee or investor ultimately gains. They are important because they can influence company compensation strategies and impact the financial outcomes for employees and investors.
forward stock split financial
"All amounts reflect the five for one forward stock split conducted by the issuer on May 7, 2026"
A forward stock split is when a company increases the number of its shares by dividing each existing share into smaller parts. This makes the stock price lower and more affordable for investors, similar to splitting a pizza into more slices so everyone can get a smaller piece. It doesn't change the company's total value, just how it's divided among shareholders.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transactions did Carvana (CVNA) COO Benjamin Huston report?
Benjamin Huston reported exercising options for 50,000 Carvana shares and selling 50,000 shares in open-market transactions on June 1, 2026. The filing also shows tax-related withholding of 7,016 shares from restricted stock unit vesting.
What stock options did Carvana (CVNA) COO Benjamin Huston exercise?
Huston exercised non-qualified stock options for 50,000 shares of Carvana Class A Common Stock at a $2.01 exercise price. The options vested 25% on April 1, 2024, with monthly vesting thereafter for three years, conditioned on his continued service with Carvana.