STOCK TITAN

[Form 4] Carvana Co. Insider Trading Activity

Filing Impact
(High)
Filing Sentiment
(Very Negative)
Form Type
4
Rhea-AI Filing Summary

Gran Tierra Energy Inc. (GTE) filed a Form 4 disclosing that Jim Evans, the company’s Vice President, Corporate Services, purchased 286 shares of common stock on 07/02/2025 through the company’s Employee Stock Purchase Plan (ESPP). The transaction is coded “A” and is exempt under Rules 16b-3(c) and 16b-3(d). The shares were acquired at an effective price of $4.82 per share (Canadian dollars converted to U.S. dollars). Following this purchase, Evans directly owns 46,602 shares and indirectly owns 6,100 shares through his spouse. No derivative securities were reported, and there were no sales. Although the addition represents a modest increase relative to his existing position, insider buying—particularly by an executive officer—can signal personal confidence in the issuer’s prospects. However, given the small size of the transaction, the immediate financial impact on overall share supply and valuation is expected to be negligible.

Gran Tierra Energy Inc. (GTE) ha presentato un Modulo 4 che rivela che Jim Evans, Vicepresidente dei Servizi Aziendali della società, ha acquistato 286 azioni ordinarie il 02/07/2025 tramite il Piano di Acquisto Azionario per Dipendenti (ESPP). La transazione è classificata come “A” ed è esente ai sensi delle Regole 16b-3(c) e 16b-3(d). Le azioni sono state acquistate a un prezzo effettivo di 4,82 $ per azione (dollari canadesi convertiti in dollari statunitensi). Dopo questo acquisto, Evans possiede direttamente 46.602 azioni e indirettamente 6.100 azioni tramite sua moglie. Non sono stati segnalati titoli derivati né vendite. Sebbene l’acquisto rappresenti un aumento modesto rispetto alla sua posizione attuale, l’acquisto da parte di un dirigente può indicare fiducia personale nelle prospettive dell’emittente. Tuttavia, data la modesta entità della transazione, l’impatto finanziario immediato sull’offerta complessiva di azioni e sulla valutazione è previsto come trascurabile.

Gran Tierra Energy Inc. (GTE) presentó un Formulario 4 en el que se revela que Jim Evans, Vicepresidente de Servicios Corporativos de la compañía, compró 286 acciones ordinarias el 02/07/2025 a través del Plan de Compra de Acciones para Empleados (ESPP) de la empresa. La transacción está codificada como “A” y está exenta bajo las Reglas 16b-3(c) y 16b-3(d). Las acciones se adquirieron a un precio efectivo de $4.82 por acción (dólares canadienses convertidos a dólares estadounidenses). Tras esta compra, Evans posee directamente 46,602 acciones y posee indirectamente 6,100 acciones a través de su cónyuge. No se reportaron valores derivados ni ventas. Aunque la adquisición representa un aumento modesto respecto a su posición actual, la compra por parte de un ejecutivo puede ser una señal de confianza personal en las perspectivas del emisor. Sin embargo, dado el tamaño reducido de la transacción, se espera que el impacto financiero inmediato sobre la oferta total de acciones y la valoración sea insignificante.

Gran Tierra Energy Inc. (GTE)는 양식 4를 제출하여 회사의 기업 서비스 부사장인 Jim Evans가 2025년 7월 2일 회사의 직원 주식 구매 계획(ESPP)을 통해 286주 보통주를 매입했음을 공개했습니다. 이 거래는 “A”로 분류되며 규칙 16b-3(c) 및 16b-3(d)에 따라 면제됩니다. 주식은 주당 4.82달러(캐나다 달러에서 미국 달러로 환산된 가격)에 취득되었습니다. 이번 매입 후 Evans는 직접 46,602주를 보유하고 있으며, 배우자를 통해 6,100주를 간접 보유하고 있습니다. 파생 증권 보고나 매도는 없었습니다. 이번 추가 매입은 기존 보유량 대비 소폭 증가에 불과하지만, 임원에 의한 내부자 매입은 발행사의 전망에 대한 개인적인 신뢰를 나타낼 수 있습니다. 다만 거래 규모가 작아 전체 주식 공급 및 평가에 미치는 즉각적인 재무 영향은 미미할 것으로 예상됩니다.

Gran Tierra Energy Inc. (GTE) a déposé un formulaire 4 révélant que Jim Evans, vice-président des services corporatifs de l’entreprise, a acheté 286 actions ordinaires le 02/07/2025 via le Plan d’Achat d’Actions des Employés (ESPP) de la société. La transaction est codée “A” et est exemptée en vertu des règles 16b-3(c) et 16b-3(d). Les actions ont été acquises à un prix effectif de 4,82 $ par action (dollars canadiens convertis en dollars américains). Suite à cet achat, Evans détient directement 46 602 actions et indirectement 6 100 actions par l’intermédiaire de son conjoint. Aucun titre dérivé n’a été déclaré, et aucune vente n’a eu lieu. Bien que cet ajout représente une augmentation modeste par rapport à sa position actuelle, un achat d’initié – particulièrement par un cadre dirigeant – peut indiquer une confiance personnelle dans les perspectives de l’émetteur. Toutefois, compte tenu de la faible taille de la transaction, l’impact financier immédiat sur l’offre globale d’actions et la valorisation devrait être négligeable.

Gran Tierra Energy Inc. (GTE) reichte ein Formular 4 ein, in dem offengelegt wird, dass Jim Evans, der Vizepräsident für Unternehmensdienste, am 02.07.2025 286 Stammaktien über den Mitarbeiteraktienkaufplan (ESPP) des Unternehmens erworben hat. Die Transaktion ist mit „A“ codiert und gemäß den Regeln 16b-3(c) und 16b-3(d) ausgenommen. Die Aktien wurden zu einem effektiven Preis von 4,82 USD pro Aktie (kanadische Dollar in US-Dollar umgerechnet) erworben. Nach diesem Kauf besitzt Evans direkt 46.602 Aktien und indirekt 6.100 Aktien über seine Ehefrau. Es wurden keine Derivate gemeldet, und es gab keine Verkäufe. Obwohl die Zugabe im Verhältnis zu seiner bestehenden Position gering ist, kann der Insiderkauf – insbesondere durch einen Führungskraft – persönliches Vertrauen in die Aussichten des Emittenten signalisieren. Aufgrund der geringen Transaktionsgröße wird der unmittelbare finanzielle Einfluss auf das Gesamtangebot und die Bewertung jedoch voraussichtlich vernachlässigbar sein.

Positive
  • Insider purchase: Executive acquired additional shares, signaling incremental confidence.
Negative
  • Immaterial size: The 286-share purchase is too small to influence share supply, earnings per share, or market perception in a meaningful way.

Insights

TL;DR: Minor ESPP purchase; positive sentiment signal, but financially immaterial—overall neutral impact on GTE.

This Form 4 shows an incremental acquisition of 286 shares by a C-suite officer, increasing his direct stake to 46,602 shares. Because the transaction was executed under the ESPP and coded as exempt, it does not reflect open-market conviction buying at significant volume. The dollar value is modest, so it is unlikely to influence institutional sentiment or liquidity. Still, any insider accumulation—versus disposition—tends to be viewed favorably, especially when no sales accompany the filing. On balance, the disclosure is neutral to slightly positive but not materially impactful for valuation models or trading strategy.

Gran Tierra Energy Inc. (GTE) ha presentato un Modulo 4 che rivela che Jim Evans, Vicepresidente dei Servizi Aziendali della società, ha acquistato 286 azioni ordinarie il 02/07/2025 tramite il Piano di Acquisto Azionario per Dipendenti (ESPP). La transazione è classificata come “A” ed è esente ai sensi delle Regole 16b-3(c) e 16b-3(d). Le azioni sono state acquistate a un prezzo effettivo di 4,82 $ per azione (dollari canadesi convertiti in dollari statunitensi). Dopo questo acquisto, Evans possiede direttamente 46.602 azioni e indirettamente 6.100 azioni tramite sua moglie. Non sono stati segnalati titoli derivati né vendite. Sebbene l’acquisto rappresenti un aumento modesto rispetto alla sua posizione attuale, l’acquisto da parte di un dirigente può indicare fiducia personale nelle prospettive dell’emittente. Tuttavia, data la modesta entità della transazione, l’impatto finanziario immediato sull’offerta complessiva di azioni e sulla valutazione è previsto come trascurabile.

Gran Tierra Energy Inc. (GTE) presentó un Formulario 4 en el que se revela que Jim Evans, Vicepresidente de Servicios Corporativos de la compañía, compró 286 acciones ordinarias el 02/07/2025 a través del Plan de Compra de Acciones para Empleados (ESPP) de la empresa. La transacción está codificada como “A” y está exenta bajo las Reglas 16b-3(c) y 16b-3(d). Las acciones se adquirieron a un precio efectivo de $4.82 por acción (dólares canadienses convertidos a dólares estadounidenses). Tras esta compra, Evans posee directamente 46,602 acciones y posee indirectamente 6,100 acciones a través de su cónyuge. No se reportaron valores derivados ni ventas. Aunque la adquisición representa un aumento modesto respecto a su posición actual, la compra por parte de un ejecutivo puede ser una señal de confianza personal en las perspectivas del emisor. Sin embargo, dado el tamaño reducido de la transacción, se espera que el impacto financiero inmediato sobre la oferta total de acciones y la valoración sea insignificante.

Gran Tierra Energy Inc. (GTE)는 양식 4를 제출하여 회사의 기업 서비스 부사장인 Jim Evans가 2025년 7월 2일 회사의 직원 주식 구매 계획(ESPP)을 통해 286주 보통주를 매입했음을 공개했습니다. 이 거래는 “A”로 분류되며 규칙 16b-3(c) 및 16b-3(d)에 따라 면제됩니다. 주식은 주당 4.82달러(캐나다 달러에서 미국 달러로 환산된 가격)에 취득되었습니다. 이번 매입 후 Evans는 직접 46,602주를 보유하고 있으며, 배우자를 통해 6,100주를 간접 보유하고 있습니다. 파생 증권 보고나 매도는 없었습니다. 이번 추가 매입은 기존 보유량 대비 소폭 증가에 불과하지만, 임원에 의한 내부자 매입은 발행사의 전망에 대한 개인적인 신뢰를 나타낼 수 있습니다. 다만 거래 규모가 작아 전체 주식 공급 및 평가에 미치는 즉각적인 재무 영향은 미미할 것으로 예상됩니다.

Gran Tierra Energy Inc. (GTE) a déposé un formulaire 4 révélant que Jim Evans, vice-président des services corporatifs de l’entreprise, a acheté 286 actions ordinaires le 02/07/2025 via le Plan d’Achat d’Actions des Employés (ESPP) de la société. La transaction est codée “A” et est exemptée en vertu des règles 16b-3(c) et 16b-3(d). Les actions ont été acquises à un prix effectif de 4,82 $ par action (dollars canadiens convertis en dollars américains). Suite à cet achat, Evans détient directement 46 602 actions et indirectement 6 100 actions par l’intermédiaire de son conjoint. Aucun titre dérivé n’a été déclaré, et aucune vente n’a eu lieu. Bien que cet ajout représente une augmentation modeste par rapport à sa position actuelle, un achat d’initié – particulièrement par un cadre dirigeant – peut indiquer une confiance personnelle dans les perspectives de l’émetteur. Toutefois, compte tenu de la faible taille de la transaction, l’impact financier immédiat sur l’offre globale d’actions et la valorisation devrait être négligeable.

Gran Tierra Energy Inc. (GTE) reichte ein Formular 4 ein, in dem offengelegt wird, dass Jim Evans, der Vizepräsident für Unternehmensdienste, am 02.07.2025 286 Stammaktien über den Mitarbeiteraktienkaufplan (ESPP) des Unternehmens erworben hat. Die Transaktion ist mit „A“ codiert und gemäß den Regeln 16b-3(c) und 16b-3(d) ausgenommen. Die Aktien wurden zu einem effektiven Preis von 4,82 USD pro Aktie (kanadische Dollar in US-Dollar umgerechnet) erworben. Nach diesem Kauf besitzt Evans direkt 46.602 Aktien und indirekt 6.100 Aktien über seine Ehefrau. Es wurden keine Derivate gemeldet, und es gab keine Verkäufe. Obwohl die Zugabe im Verhältnis zu seiner bestehenden Position gering ist, kann der Insiderkauf – insbesondere durch einen Führungskraft – persönliches Vertrauen in die Aussichten des Emittenten signalisieren. Aufgrund der geringen Transaktionsgröße wird der unmittelbare finanzielle Einfluss auf das Gesamtangebot und die Bewertung jedoch voraussichtlich vernachlässigbar sein.

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).
X
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*
GARCIA ERNEST C. II

(Last) (First) (Middle)
1720 W. RIO SALADO PARKWAY
SUITE A

(Street)
TEMPE AZ 85281

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
CARVANA CO. [ CVNA ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
06/30/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
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)
Code V Amount (A) or (D) Price
Class A Common Stock 06/30/2025 C 50,000 A (1) 50,000 D
Class A Common Stock 06/30/2025 S(2) 10,512 D $325.56(3) 39,488 D
Class A Common Stock 06/30/2025 S(2) 15,758 D $326.4868(3) 23,730 D
Class A Common Stock 06/30/2025 S(2) 12,065 D $327.4768(3) 11,665 D
Class A Common Stock 06/30/2025 S(2) 8,150 D $328.5748(3) 3,515 D
Class A Common Stock 06/30/2025 S(2) 3,515 D $329.3485(3) 0 D
Class A Common Stock 07/01/2025 C 50,000 A (1) 50,000 D
Class A Common Stock 07/01/2025 S(2) 7,632 D $335.4311(4) 42,368 D
Class A Common Stock 07/01/2025 S(2) 11,937 D $336.3696(4) 30,431 D
Class A Common Stock 07/01/2025 S(2) 10,411 D $337.5186(4) 20,020 D
Class A Common Stock 07/01/2025 S(2) 12,849 D $338.4317(4) 7,171 D
Class A Common Stock 07/01/2025 S(2) 5,075 D $339.2629(4) 2,096 D
Class A Common Stock 07/01/2025 S(2) 2,096 D $340.2997(4) 0 D
Class B Common Stock 06/30/2025 J 50,000 D (5) 36,787,346 D
Class B Common Stock 07/01/2025 J 50,000 D (5) 36,737,346 D
Class B Common Stock 8,000,000 I ECG II SPE, LLC(6)
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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Class A Units (1) 06/30/2025 C 62,500 (1) (1) Class A Common Stock 50,000 $0 45,984,181 D
Class A Units (1) 07/01/2025 C 62,500 (1) (1) Class A Common Stock 50,000 $0 45,921,681 D
Class A Units $0 (7) (7) Class A Common Stock 10,000,000 10,000,000 I ECG II SPE, LLC
1. Name and Address of Reporting Person*
GARCIA ERNEST C. II

(Last) (First) (Middle)
1720 W. RIO SALADO PARKWAY
SUITE A

(Street)
TEMPE AZ 85281

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
ECG II SPE, LLC

(Last) (First) (Middle)
1720 W. RIO SALADO PARKWAY
SUITE A

(Street)
TEMPE AZ 85281

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
Explanation of Responses:
1. Reflects the conversion of Class A Common Units ("Class A Units") of Carvana Group, LLC ("Carvana Group") owned directly by Ernest C. Garcia II into shares of Class A Common Stock ("Class A Shares") of the Issuer pursuant to the Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the "Exchange Agreement").
2. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by Ernest C. Garcia II and Elizabeth Joanne Garcia on December 13, 2024.
3. The prices reported in Column 4 are weighted average prices. These shares were sold in multiple transactions at prices ranging from $325.00-$325.995, inclusive (weighted average of $325.56); $326.02-$327.00, inclusive (weighted average of $326.4868); $327.02-$328.00, inclusive (weighted average of $327.4768); $328.035-$329.02, inclusive (weighted average of $328.5748); and $329.035-$329.76, inclusive (weighted average of $329.3485, respectively. The reporting person undertakes to provide to the issuer or to the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth herein.
4. Prices reported in Column 4 are weighted average prices. Shares were sold in multiple transactions at prices ranging from $334.90-$335.88, inclusive (weighted average of $335.4311); $335.92-$336.87, inclusive (weighted average of $336.3696); $337.01-$338.005, inclusive (weighted average of $337.5186); $338.01-$339.00, inclusive (weighted average of $338.4317); $339.01-$340.00, inclusive (weighted average of $339.2629); and $340.035-$340.53, inclusive (weighted average of $340.2997), respectively. Reporting person undertakes to provide to issuer or staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within ranges set forth herein.
5. Reflects the cancellation for no consideration of Class B Common Stock of the Issuer ("Class B Shares") in connection with the conversion of Class A Units into Class A Shares. Following the reported transaction, the remaining Class B Shares are owned directly by Ernest C. Garcia II.
6. These Class B Shares are owned directly by ECG II SPE, LLC ("E-SPE"), an entity which Mr. Garcia wholly owns and controls.
7. These Class A Units are owned directly by E-SPE and are exchangeable for 0.8 Class A Shares pursuant to the Exchange Agreement.
/s/ Ernest C. Garcia II 07/02/2025
/s/ Ernest C. Garcia II, ECG II SPE, LLC 07/02/2025
** 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.

FAQ

What did Gran Tierra Energy (GTE) insider Jim Evans buy on 07/02/2025?

He purchased 286 shares of common stock at $4.82 per share through the ESPP.

How many Gran Tierra Energy shares does Jim Evans own after the transaction?

He directly owns 46,602 shares and indirectly owns 6,100 shares via his spouse.

Was the insider transaction under a Rule 10b5-1 plan?

The Form 4 indicates the purchase was through the ESPP and exempt under Rule 16b-3; no Rule 10b5-1 plan is referenced.

Did the filing report any sales or derivative security activity?

No. The filing lists no sales and no derivative securities were acquired or disposed of.

What is the significance of an ESPP purchase on a Form 4?

ESPP transactions are typically automatic and exempt, yet they still reflect continued participation and ownership growth by insiders.
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