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[Form 4] Carvana Co. Insider Trading Activity

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

Form 4 (CVNA, filed 25-Jul-2025) details insider activity by director/10% owner Ernest C. Garcia II and controlled entity ECG II SPE.

  • Conversions: On 23-Jul-2025 and 24-Jul-2025 Garcia converted 50,000 Class A Units of Carvana Group into 50,000 Class A shares each day (100,000 shares total) under the 2017 Exchange Agreement. Each conversion canceled an equal number of Class B shares for no consideration.
  • Sales: The 100,000 newly issued Class A shares were immediately sold under a Rule 10b5-1 plan adopted 13-Dec-2024. Weighted-average prices ranged from $329.06 to $341.78 across 26 individual trades.

Post-transaction holdings: Garcia now directly owns 35.54 million Class B shares, 44.43 million Class A Units (exchangeable 0.8:1 into Class A shares), and indirectly holds 8 million Class B shares via ECG II SPE. Reported direct Class A share ownership is 0.

Modulo 4 (CVNA, presentato il 25-lug-2025) riporta l'attività interna del direttore/proprietario del 10% Ernest C. Garcia II e dell'entità controllata ECG II SPE.

  • Conversioni: Il 23 e 24 luglio 2025 Garcia ha convertito 50.000 Unità Classe A di Carvana Group in 50.000 azioni Classe A ogni giorno (totale 100.000 azioni) secondo l'Accordo di Scambio del 2017. Ogni conversione ha annullato un numero equivalente di azioni Classe B senza alcun corrispettivo.
  • Vendite: Le 100.000 nuove azioni Classe A emesse sono state immediatamente vendute secondo un piano Rule 10b5-1 adottato il 13 dicembre 2024. I prezzi medi ponderati sono variati da 329,06$ a 341,78$ in 26 singole transazioni.

Detenzioni post-transazione: Garcia possiede ora direttamente 35,54 milioni di azioni Classe B, 44,43 milioni di Unità Classe A (convertibili con rapporto 0,8:1 in azioni Classe A) e detiene indirettamente 8 milioni di azioni Classe B tramite ECG II SPE. La proprietà diretta di azioni Classe A dichiarata è pari a 0.

Formulario 4 (CVNA, presentado el 25-jul-2025) detalla la actividad interna del director/propietario del 10% Ernest C. Garcia II y la entidad controlada ECG II SPE.

  • Conversiones: El 23 y 24 de julio de 2025, Garcia convirtió 50,000 Unidades Clase A de Carvana Group en 50,000 acciones Clase A cada día (100,000 acciones en total) bajo el Acuerdo de Intercambio de 2017. Cada conversión canceló un número equivalente de acciones Clase B sin contraprestación.
  • Ventas: Las 100,000 acciones Clase A recién emitidas fueron vendidas inmediatamente bajo un plan Rule 10b5-1 adoptado el 13 de diciembre de 2024. Los precios promedio ponderados oscilaron entre $329.06 y $341.78 en 26 transacciones individuales.

Participaciones post-transacción: Garcia ahora posee directamente 35.54 millones de acciones Clase B, 44.43 millones de Unidades Clase A (canjeables 0.8:1 por acciones Clase A), y posee indirectamente 8 millones de acciones Clase B a través de ECG II SPE. La propiedad directa reportada de acciones Clase A es 0.

양식 4 (CVNA, 2025년 7월 25일 제출) 이사이자 10% 소유주인 Ernest C. Garcia II와 그가 통제하는 법인 ECG II SPE의 내부자 활동을 상세히 기록합니다.

  • 전환: 2025년 7월 23일과 24일에 Garcia는 2017년 교환 계약에 따라 Carvana Group의 클래스 A 유닛 50,000개를 매일 클래스 A 주식 50,000주로 전환하였으며 총 100,000주를 전환했습니다. 각 전환은 동일한 수의 클래스 B 주식을 대가 없이 소각했습니다.
  • 판매: 새로 발행된 100,000주의 클래스 A 주식은 2024년 12월 13일 채택된 Rule 10b5-1 계획에 따라 즉시 판매되었습니다. 가중 평균 가격은 26건의 개별 거래에서 329.06달러에서 341.78달러 사이였습니다.

거래 후 보유 현황: Garcia는 현재 직접적으로 3,554만 클래스 B 주식, 4,443만 클래스 A 유닛(0.8:1 비율로 클래스 A 주식으로 교환 가능)을 보유하고 있으며, ECG II SPE를 통해 간접적으로 800만 클래스 B 주식을 보유하고 있습니다. 보고된 직접 클래스 A 주식 보유량은 0입니다.

Formulaire 4 (CVNA, déposé le 25 juil. 2025) détaille l'activité d'initié du directeur/propriétaire à 10 % Ernest C. Garcia II et de l'entité contrôlée ECG II SPE.

  • Conversions : Les 23 et 24 juillet 2025, Garcia a converti 50 000 unités de Classe A de Carvana Group en 50 000 actions de Classe A chaque jour (100 000 actions au total) conformément à l'Accord d'Échange de 2017. Chaque conversion a annulé un nombre équivalent d'actions de Classe B sans contrepartie.
  • Ventes : Les 100 000 actions de Classe A nouvellement émises ont été immédiatement vendues dans le cadre d'un plan Rule 10b5-1 adopté le 13 décembre 2024. Les prix moyens pondérés variaient de 329,06 $ à 341,78 $ sur 26 transactions individuelles.

Participations après transaction : Garcia détient désormais directement 35,54 millions d'actions de Classe B, 44,43 millions d'unités de Classe A (échangeables à raison de 0,8 pour 1 en actions de Classe A), et détient indirectement 8 millions d'actions de Classe B via ECG II SPE. La propriété directe déclarée d'actions de Classe A est de 0.

Formular 4 (CVNA, eingereicht am 25. Juli 2025) beschreibt Insider-Aktivitäten des Direktors/10%-Eigentümers Ernest C. Garcia II und der kontrollierten Einheit ECG II SPE.

  • Umwandlungen: Am 23. und 24. Juli 2025 wandelte Garcia jeweils 50.000 Class A Einheiten der Carvana Group in 50.000 Class A Aktien um (insgesamt 100.000 Aktien) gemäß der Austauschvereinbarung von 2017. Jede Umwandlung annullierte eine gleiche Anzahl von Class B Aktien ohne Gegenleistung.
  • Verkäufe: Die 100.000 neu ausgegebenen Class A Aktien wurden sofort im Rahmen eines Rule 10b5-1 Plans verkauft, der am 13. Dezember 2024 angenommen wurde. Die gewichteten Durchschnittspreise lagen bei 329,06 bis 341,78 USD über 26 einzelne Transaktionen.

Bestände nach der Transaktion: Garcia besitzt nun direkt 35,54 Millionen Class B Aktien, 44,43 Millionen Class A Einheiten (umtauschbar 0,8:1 in Class A Aktien) und hält indirekt 8 Millionen Class B Aktien über ECG II SPE. Der gemeldete direkte Besitz an Class A Aktien beträgt 0.

Positive
  • Cancellation of 100,000 Class B super-voting shares marginally narrows CVNA’s dual-class voting gap.
  • Disclosure of Rule 10b5-1 plan provides transparency and reduces perceived opportunistic trading risk.
Negative
  • Disposal of 100,000 Class A shares by a director/10 % owner may pressure sentiment despite being pre-planned.
  • Insider continues to control >35 m Class B shares, leaving governance concerns largely intact.

Insights

TL;DR: Large pre-planned insider sale (100k shares) offsets unit conversion; no net Class A increase, modestly negative sentiment.

The filing shows Garcia monetised roughly 100 k shares (~US$33 m at the disclosed price bands) over two days. Because each sale was preceded by a one-for-one unit conversion, Class A float grows while super-voting Class B stock falls by 100 k shares—immaterial vs his 35.5 m balance. The trades were executed under a 10b5-1 plan, limiting inference about timing, yet the magnitude (100 k shares) and his status as a 10 % owner typically register as a modest negative signal for near-term investor sentiment. Fundamental impact on CVNA’s capital structure or cash flows is negligible.

TL;DR: Slight governance improvement as 100k Class B super-votes are canceled, but control concentration remains overwhelming.

Every unit conversion cancels one Class B share, incrementally reducing the dual-class voting disparity. However, Garcia still holds >35 m Class B shares and 44 m convertible units, so the relative shift is de minimis. The pre-planned nature of the trades mitigates conflict-of-interest concerns, yet continued large-scale control coupled with periodic liquidity events underscores ongoing governance risk for minority holders.

Modulo 4 (CVNA, presentato il 25-lug-2025) riporta l'attività interna del direttore/proprietario del 10% Ernest C. Garcia II e dell'entità controllata ECG II SPE.

  • Conversioni: Il 23 e 24 luglio 2025 Garcia ha convertito 50.000 Unità Classe A di Carvana Group in 50.000 azioni Classe A ogni giorno (totale 100.000 azioni) secondo l'Accordo di Scambio del 2017. Ogni conversione ha annullato un numero equivalente di azioni Classe B senza alcun corrispettivo.
  • Vendite: Le 100.000 nuove azioni Classe A emesse sono state immediatamente vendute secondo un piano Rule 10b5-1 adottato il 13 dicembre 2024. I prezzi medi ponderati sono variati da 329,06$ a 341,78$ in 26 singole transazioni.

Detenzioni post-transazione: Garcia possiede ora direttamente 35,54 milioni di azioni Classe B, 44,43 milioni di Unità Classe A (convertibili con rapporto 0,8:1 in azioni Classe A) e detiene indirettamente 8 milioni di azioni Classe B tramite ECG II SPE. La proprietà diretta di azioni Classe A dichiarata è pari a 0.

Formulario 4 (CVNA, presentado el 25-jul-2025) detalla la actividad interna del director/propietario del 10% Ernest C. Garcia II y la entidad controlada ECG II SPE.

  • Conversiones: El 23 y 24 de julio de 2025, Garcia convirtió 50,000 Unidades Clase A de Carvana Group en 50,000 acciones Clase A cada día (100,000 acciones en total) bajo el Acuerdo de Intercambio de 2017. Cada conversión canceló un número equivalente de acciones Clase B sin contraprestación.
  • Ventas: Las 100,000 acciones Clase A recién emitidas fueron vendidas inmediatamente bajo un plan Rule 10b5-1 adoptado el 13 de diciembre de 2024. Los precios promedio ponderados oscilaron entre $329.06 y $341.78 en 26 transacciones individuales.

Participaciones post-transacción: Garcia ahora posee directamente 35.54 millones de acciones Clase B, 44.43 millones de Unidades Clase A (canjeables 0.8:1 por acciones Clase A), y posee indirectamente 8 millones de acciones Clase B a través de ECG II SPE. La propiedad directa reportada de acciones Clase A es 0.

양식 4 (CVNA, 2025년 7월 25일 제출) 이사이자 10% 소유주인 Ernest C. Garcia II와 그가 통제하는 법인 ECG II SPE의 내부자 활동을 상세히 기록합니다.

  • 전환: 2025년 7월 23일과 24일에 Garcia는 2017년 교환 계약에 따라 Carvana Group의 클래스 A 유닛 50,000개를 매일 클래스 A 주식 50,000주로 전환하였으며 총 100,000주를 전환했습니다. 각 전환은 동일한 수의 클래스 B 주식을 대가 없이 소각했습니다.
  • 판매: 새로 발행된 100,000주의 클래스 A 주식은 2024년 12월 13일 채택된 Rule 10b5-1 계획에 따라 즉시 판매되었습니다. 가중 평균 가격은 26건의 개별 거래에서 329.06달러에서 341.78달러 사이였습니다.

거래 후 보유 현황: Garcia는 현재 직접적으로 3,554만 클래스 B 주식, 4,443만 클래스 A 유닛(0.8:1 비율로 클래스 A 주식으로 교환 가능)을 보유하고 있으며, ECG II SPE를 통해 간접적으로 800만 클래스 B 주식을 보유하고 있습니다. 보고된 직접 클래스 A 주식 보유량은 0입니다.

Formulaire 4 (CVNA, déposé le 25 juil. 2025) détaille l'activité d'initié du directeur/propriétaire à 10 % Ernest C. Garcia II et de l'entité contrôlée ECG II SPE.

  • Conversions : Les 23 et 24 juillet 2025, Garcia a converti 50 000 unités de Classe A de Carvana Group en 50 000 actions de Classe A chaque jour (100 000 actions au total) conformément à l'Accord d'Échange de 2017. Chaque conversion a annulé un nombre équivalent d'actions de Classe B sans contrepartie.
  • Ventes : Les 100 000 actions de Classe A nouvellement émises ont été immédiatement vendues dans le cadre d'un plan Rule 10b5-1 adopté le 13 décembre 2024. Les prix moyens pondérés variaient de 329,06 $ à 341,78 $ sur 26 transactions individuelles.

Participations après transaction : Garcia détient désormais directement 35,54 millions d'actions de Classe B, 44,43 millions d'unités de Classe A (échangeables à raison de 0,8 pour 1 en actions de Classe A), et détient indirectement 8 millions d'actions de Classe B via ECG II SPE. La propriété directe déclarée d'actions de Classe A est de 0.

Formular 4 (CVNA, eingereicht am 25. Juli 2025) beschreibt Insider-Aktivitäten des Direktors/10%-Eigentümers Ernest C. Garcia II und der kontrollierten Einheit ECG II SPE.

  • Umwandlungen: Am 23. und 24. Juli 2025 wandelte Garcia jeweils 50.000 Class A Einheiten der Carvana Group in 50.000 Class A Aktien um (insgesamt 100.000 Aktien) gemäß der Austauschvereinbarung von 2017. Jede Umwandlung annullierte eine gleiche Anzahl von Class B Aktien ohne Gegenleistung.
  • Verkäufe: Die 100.000 neu ausgegebenen Class A Aktien wurden sofort im Rahmen eines Rule 10b5-1 Plans verkauft, der am 13. Dezember 2024 angenommen wurde. Die gewichteten Durchschnittspreise lagen bei 329,06 bis 341,78 USD über 26 einzelne Transaktionen.

Bestände nach der Transaktion: Garcia besitzt nun direkt 35,54 Millionen Class B Aktien, 44,43 Millionen Class A Einheiten (umtauschbar 0,8:1 in Class A Aktien) und hält indirekt 8 Millionen Class B Aktien über ECG II SPE. Der gemeldete direkte Besitz an Class A Aktien beträgt 0.

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).
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)
07/23/2025
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 07/23/2025 C 50,000 A (1) 50,000 D
Class A Common Stock 07/23/2025 S(2) 1,100 D $332.5493(3) 48,900 D
Class A Common Stock 07/23/2025 S(2) 990 D $333.3509(3) 47,910 D
Class A Common Stock 07/23/2025 S(2) 4,785 D $334.5388(3) 43,125 D
Class A Common Stock 07/23/2025 S(2) 12,055 D $335.4268(3) 31,070 D
Class A Common Stock 07/23/2025 S(2) 7,166 D $336.3778(3) 23,904 D
Class A Common Stock 07/23/2025 S(2) 5,251 D $337.353(3) 18,653 D
Class A Common Stock 07/23/2025 S(2) 5,188 D $338.5274(3) 13,465 D
Class A Common Stock 07/23/2025 S(2) 4,000 D $339.517(3) 9,465 D
Class A Common Stock 07/23/2025 S(2) 6,933 D $340.4597(3) 2,532 D
Class A Common Stock 07/23/2025 S(2) 2,532 D $341.2471(3) 0 D
Class A Common Stock 07/24/2025 C 50,000 A (1) 50,000 D
Class A Common Stock 07/24/2025 S(2) 4,032 D $329.0576(4)(5) 45,968 D
Class A Common Stock 07/24/2025 S(2) 5,185 D $330.2262(4)(5) 40,783 D
Class A Common Stock 07/24/2025 S(2) 6,103 D $331.1472(4)(5) 34,680 D
Class A Common Stock 07/24/2025 S(2) 3,321 D $332.1783(4)(5) 31,359 D
Class A Common Stock 07/24/2025 S(2) 7,175 D $333.2738(4)(5) 24,184 D
Class A Common Stock 07/24/2025 S(2) 8,794 D $334.2765(4)(5) 15,390 D
Class A Common Stock 07/24/2025 S(2) 2,612 D $334.9488(4)(5) 12,778 D
Class A Common Stock 07/24/2025 S(2) 2,891 D $336.2406(4)(5) 9,887 D
Class A Common Stock 07/24/2025 S(2) 1,200 D $337.2695(4)(5) 8,687 D
Class A Common Stock 07/24/2025 S(2) 2,648 D $338.117(4)(5) 6,039 D
Class A Common Stock 07/24/2025 S(2) 3,481 D $339.406(4)(5) 2,558 D
Class A Common Stock 07/24/2025 S(2) 805 D $340.4806(4)(5) 1,753 D
Class A Common Stock 07/24/2025 S(2) 1,753 D $341.7838(4)(5) 0 D
Class B Common Stock 07/23/2025 J 50,000 D (6) 35,592,792 D
Class B Common Stock 07/24/2025 J 50,000 D (6) 35,542,792 D
Class B Common Stock 8,000,000 I ECG II SPE, LLC(7)
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) 07/23/2025 C 62,500 (1) (1) Class A Common Stock 50,000 $0 44,490,989 D
Class A Units (1) 07/24/2025 C 62,500 (1) (1) Class A Common Stock 50,000 $0 44,428,489 D
Class A Units $0 (8) (8) 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 $331.97-$332.92, inclusive (weighted average of $332.5493); $332.99-$333.98, inclusive (weighted average of $333.3509); $333.99-$334.96, inclusive (weighted average of $334.5388); $334.99-$335.98, inclusive (weighted average of $335.4268); $335.99-$336.97, inclusive (weighted average of $336.3778); $336.99-$337.94, inclusive (weighted average of $337.353) $337.99-$338.98, inclusive (weighted average of $338.5274); $338.99-$339.96, inclusive (weighted average of $339.517); $339.99-$340.94, inclusive (weighted average of $340.4597); and $340.99-$341.82, inclusive (weighted average of $341.2471), 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 $328.70-$329.6981, inclusive (weighted average of $329.0576); $329.7014-$330.70, inclusive (weighted average of $330.2262); $330.7145-$331.71, inclusive (weighted average of $331.1472); $331.73-$332.717, inclusive (weighted average of $332.1783); $332.77-$333.76, inclusive (weighted average of $333.2738); $333.7711-$334.76, inclusive (weighted average of $334.2765); $334.77-$335.27, inclusive (weighted average of $334.9488); $335.83-$336.82, inclusive (weighted average of $336.2406); $336.83-$337.78, inclusive (weighted average of $337.2695); $337.94-$338.77, inclusive (weighted average of $338.117); $339.07-$339.9818, inclusive (weighted average of $339.406); $340.0774-$341.02, inclusive (weighted average of $340.4806); and $341.25-$342.0965, inclusive (weighted average of $341.7838), respectively.
5. The reporting person undertakes to provide to the issuer or the 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.
6. 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.
7. These Class B Shares are owned directly by ECG II SPE, LLC ("E-SPE"), an entity which Mr. Garcia wholly owns and controls.
8. 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 07/25/2025
/s/ Ernest C. Garcia II, ECG II SPE, LLC 07/25/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

How many CVNA Class A shares did Ernest C. Garcia II sell in July 2025?

He sold 100,000 Class A shares—50,000 on 23-Jul-2025 and 50,000 on 24-Jul-2025.

What were the reported sale price ranges for the CVNA shares?

Weighted-average prices ranged from $329.06 to $341.78 per share across the two trading days.

How many Class A Units were converted into Class A shares?

Garcia converted 100,000 Class A Units (50,000 each day) into an equal number of Class A shares.

Did the transactions occur under a Rule 10b5-1 plan?

Yes. The plan was adopted on 13-Dec-2024 and governed all sales reported.

What is Garcia’s remaining Class B shareholding after the sales?

He directly owns approximately 35.54 million Class B shares and indirectly holds another 8 million.

How many derivative securities (Class A Units) does Garcia still hold?

Post-transaction, he holds 44.43 million Class A Units, each exchangeable into Class A shares.
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CVNA Latest News

Jul 2, 2025
Carvana to Report Second Quarter 2025 Results and Host Quarterly Conference Call on July 30
Jun 10, 2025
Jon Hamm and Carvana Launch National Campaign Highlighting the Simpler Way to Sell Your Car
May 28, 2025
Carvana Expands Same-Day Delivery to Denver Area
May 27, 2025
Carvana to Present at Upcoming William Blair 45th Annual Growth Stock Conference
May 22, 2025
Carvana Brings Inspection and Reconditioning Center Capabilities to ADESA Nashville

CVNA Latest SEC Filings

Jul 24, 2025
[Form 4] Carvana Co. Insider Trading Activity
Jul 24, 2025
[Form 4] Carvana Co. Insider Trading Activity
Jul 23, 2025
[Form 4] Carvana Co. Insider Trading Activity
Jul 22, 2025
[Form 4] Carvana Co. Insider Trading Activity
Jul 22, 2025
[Form 4] Carvana Co. Insider Trading Activity

CVNA Stock Data

46.31B
131.25M
1.42%
94.21%
6.9%
Auto & Truck Dealerships
Retail-auto Dealers & Gasoline Stations
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United States
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