Carvana CFO exercises options for 50,000 shares

Q: How many CVNA shares did the CFO sell, and at what prices?

On November 2, 2026, Mark W. Jenkins sold 700 shares at a $69.53 volume weighted average sale price (range $69.51–$69.59), 21,399 at $71.15 ($70.54–$71.53), 32,251 at $71.92 ($71.54–$72.53), and 9,400 at $72.87 ($72.54–$73.15). Each range is inclusive. The sales were pursuant to a Rule 10b5-1 trading plan adopted August 5, 2024.

The disclosed sales followed option exercises at three strike prices; 7,016 shares were withheld for taxes on vested restricted stock units.

Available on EDGAR 11/03/2026 - 05:35 PM EST Accepted by SEC EDGAR 11/03/2026 - 05:35 PM EST

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Rhea-AI Filing Summary

Carvana Co. Chief Financial Officer Mark W. Jenkins exercised options for 50,000 Class A shares at $2.01 per share, 10,000 at $8.41 and 3,750 at $10.39 on November 2, 2026. He sold 700 shares at a $69.53 volume weighted average sale price, 21,399 at $71.15, 32,251 at $71.92 and 9,400 at $72.87. The reported exercises and sales were pursuant to a Rule 10b5-1 trading plan adopted August 5, 2024. On November 1, 7,016 shares were withheld for taxes upon vesting of restricted stock units.

Insider Trade Summary 10b5-1

Exercise and Sale: 63,750 shares ($4.35M approx. pre-tax spread)

Exercise and Sale 11 txns

Insider JENKINS MARK W.

Role Chief Financial Officer

Sold 63,750 shs ($4.58M)

Approx. gross sale proceeds $4.58M

Approx. exercise cost $224K

Approx. pre-tax spread $4.35M

Type	Security	Shares	Price	Value
Exercise	Stock Options (Right to Buy) ^{F2, F8}	50,000	$0.00	$0.00
Exercise	Stock Options (Right to Buy) ^{F2, F9}	10,000	$0.00	$0.00
Exercise	Stock Options (Right to Buy) ^{F2, F9}	3,750	$0.00	$0.00
Exercise	Class A Common Stock ^F2	50,000	$2.01	$100K
Exercise	Class A Common Stock ^F2	10,000	$8.41	$84K
Exercise	Class A Common Stock ^F2	3,750	$10.39	$39K
Sale	Class A Common Stock ^{F2, F3, F4}	700	$69.53	$49K
Sale	Class A Common Stock ^{F2, F3, F5}	21,399	$71.15	$1.52M
Sale	Class A Common Stock ^{F2, F3, F6}	32,251	$71.92	$2.32M
Sale	Class A Common Stock ^{F2, F3, F7}	9,400	$72.87	$685K
Tax Withholding	Class A Common Stock ^F1	7,016	$68.29	$479K

Holdings After Transaction: Stock Options (Right to Buy) — 582,810 contracts (Direct); Class A Common Stock — 1,135,486 shares (Direct)

Footnotes (9)

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. The reported option exercises and sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 5, 2024.
F3. 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.
F4. This transaction was executed in multiple trades at prices ranging from $69.51 to $69.59 inclusive.
F5. This transaction was executed in multiple trades at prices ranging from $70.54 to $71.53 inclusive.
F6. This transaction was executed in multiple trades at prices ranging from $71.54 to $72.53 inclusive.
F7. This transaction was executed in multiple trades at prices ranging from $72.54 to $73.15 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.
F9. 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, 2025 and monthly thereafter for the following three years, subject to the Reporting Person's continued service with the Issuer.

Key Figures

Options exercised at $2.01 per share: 50,000 shares Options exercised at $8.41 per share: 10,000 shares Options exercised at $10.39 per share: 3,750 shares +4 more

7 metrics

Options exercised at $2.01 per share 50,000 shares November 2, 2026

Options exercised at $8.41 per share 10,000 shares November 2, 2026

Options exercised at $10.39 per share 3,750 shares November 2, 2026

Shares sold at a $69.53 volume weighted average sale price 700 shares November 2, 2026

Shares sold at a $71.15 volume weighted average sale price 21,399 shares November 2, 2026

Shares sold at a $71.92 volume weighted average sale price 32,251 shares November 2, 2026

Shares sold at a $72.87 volume weighted average sale price 9,400 shares November 2, 2026

Key Terms

Rule 10b5-1 trading plan, volume weighted average sale price, non-qualified stock options, restricted stock units

4 terms

Rule 10b5-1 trading plan financial

"pursuant to a Rule 10b5-1 trading plan"

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

"reflects the volume weighted average sale price"

non-qualified stock options financial

"The non-qualified stock options representing the right to purchase"

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.

restricted stock units financial

"withheld for taxes upon vesting of restricted stock units"

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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many CVNA shares did Mark W. Jenkins acquire through option exercises?

Mark W. Jenkins exercised options for 50,000 Class A shares at $2.01 per share, 10,000 at $8.41 and 3,750 at $10.39 on November 2, 2026.

How many CVNA shares did the CFO sell, and at what prices?

On November 2, 2026, Mark W. Jenkins sold 700 shares at a $69.53 volume weighted average sale price (range $69.51–$69.59), 21,399 at $71.15 ($70.54–$71.53), 32,251 at $71.92 ($71.54–$72.53), and 9,400 at $72.87 ($72.54–$73.15). Each range is inclusive. The sales were pursuant to a Rule 10b5-1 trading plan adopted August 5, 2024.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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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^*

JENKINS MARK W.

(Last)

(First)

(Middle)

C/O CARVANA CO.

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)
	Chief Financial Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
11/01/2026

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	11/01/2026		F⁽¹⁾		7,016	D	$68.29	1,135,486	D
Class A Common Stock	11/02/2026		M⁽²⁾		50,000	A	$2.01	1,185,486	D
Class A Common Stock	11/02/2026		M⁽²⁾		10,000	A	$8.41	1,195,486	D
Class A Common Stock	11/02/2026		M⁽²⁾		3,750	A	$10.39	1,199,236	D
Class A Common Stock	11/02/2026		S⁽²⁾		700	D	$69.53⁽³⁾⁽⁴⁾	1,198,536	D
Class A Common Stock	11/02/2026		S⁽²⁾		21,399	D	$71.15⁽³⁾⁽⁵⁾	1,177,137	D
Class A Common Stock	11/02/2026		S⁽²⁾		32,251	D	$71.92⁽³⁾⁽⁶⁾	1,144,886	D
Class A Common Stock	11/02/2026		S⁽²⁾		9,400	D	$72.87⁽³⁾⁽⁷⁾	1,135,486	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)
Stock Options (Right to Buy)	$2.01	11/02/2026		M⁽²⁾			50,000	04/01/2024⁽⁸⁾	02/22/2033	Class A Common Stock	50,000	$0	342,565	D
Stock Options (Right to Buy)	$8.41	11/02/2026		M⁽²⁾			10,000	04/01/2025⁽⁹⁾	01/24/2034	Class A Common Stock	10,000	$0	173,515	D
Stock Options (Right to Buy)	$10.39	11/02/2026		M⁽²⁾			3,750	04/01/2025⁽⁹⁾	02/13/2034	Class A Common Stock	3,750	$0	66,730	D

Explanation of Responses:

1. 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.

2. The reported option exercises and sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 5, 2024.

3. 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.

4. This transaction was executed in multiple trades at prices ranging from $69.51 to $69.59 inclusive.

5. This transaction was executed in multiple trades at prices ranging from $70.54 to $71.53 inclusive.

6. This transaction was executed in multiple trades at prices ranging from $71.54 to $72.53 inclusive.

7. This transaction was executed in multiple trades at prices ranging from $72.54 to $73.15 inclusive.

8. 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.

9. 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, 2025 and monthly thereafter for the following three years, subject to the Reporting Person's continued service with the Issuer.

Remarks:

	/s/ Paul Breaux, by Power of Attorney for Mark W. Jenkins	11/03/2026
	** 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