STOCK TITAN

[Form 4] Carvana Co. Insider Trading Activity

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

Form 144 filed for Wabtec Corp. (symbol WAB) discloses a proposed secondary sale of 3,544 Class A common shares through Goldman Sachs & Co. LLC on or about 07/07/2025. The filing lists an aggregate market value of roughly $755 thousand, versus total shares outstanding of 171,126,330, indicating the sale represents approximately 0.002% of the company’s equity. The same account sold four equal blocks of 886 shares between 05/13/2025 and 06/18/2025, generating total gross proceeds of about $718 thousand. Shares were originally acquired via restricted-stock awards on 02/28/2022 (1,340 shares) and 03/02/2023 (2,204 shares) as compensation. No 10b5-1 plan adoption date or relationship to the issuer is provided in the notice.

  • Shares to be sold: 3,544
  • Approximate value: $755,226
  • Broker: Goldman Sachs & Co. LLC
  • Prior 3-month sales: 3,544 shares, $717,961 in proceeds

The transaction size is de minimis relative to Wabtec’s float and does not, on its own, signal a material change in the company’s outlook.

Il modulo 144 presentato per Wabtec Corp. (simbolo WAB) segnala una proposta di vendita secondaria di 3.544 azioni ordinarie di Classe A tramite Goldman Sachs & Co. LLC intorno al 07/07/2025. La documentazione indica un valore di mercato complessivo di circa 755 mila dollari, rispetto a un totale di azioni in circolazione di 171.126.330, suggerendo che la vendita rappresenta circa lo 0,002% del capitale sociale della società. Lo stesso conto ha venduto quattro blocchi uguali da 886 azioni tra il 13/05/2025 e il 18/06/2025, generando proventi lordi totali di circa 718 mila dollari. Le azioni erano state originariamente acquisite tramite premi in azioni vincolate il 28/02/2022 (1.340 azioni) e il 02/03/2023 (2.204 azioni) come compenso. Nel documento non è indicata la data di adozione di un piano 10b5-1 né alcun rapporto con l'emittente.

  • Azioni da vendere: 3.544
  • Valore approssimativo: 755.226 $
  • Intermediario: Goldman Sachs & Co. LLC
  • Vendite nei precedenti 3 mesi: 3.544 azioni, proventi per 717.961 $

La dimensione della transazione è de minimis rispetto al flottante di Wabtec e, da sola, non indica un cambiamento significativo nelle prospettive della società.

El formulario 144 presentado para Wabtec Corp. (símbolo WAB) revela una propuesta de venta secundaria de 3.544 acciones ordinarias Clase A a través de Goldman Sachs & Co. LLC aproximadamente el 07/07/2025. La presentación indica un valor de mercado agregado de aproximadamente 755 mil dólares, frente a un total de acciones en circulación de 171.126.330, lo que sugiere que la venta representa aproximadamente el 0,002% del capital social de la compañía. La misma cuenta vendió cuatro bloques iguales de 886 acciones entre el 13/05/2025 y el 18/06/2025, generando ingresos brutos totales de alrededor de 718 mil dólares. Las acciones fueron adquiridas originalmente mediante premios en acciones restringidas el 28/02/2022 (1.340 acciones) y el 02/03/2023 (2.204 acciones) como compensación. No se proporciona fecha de adopción de un plan 10b5-1 ni relación con el emisor en el aviso.

  • Acciones a vender: 3.544
  • Valor aproximado: 755.226 $
  • Corredor: Goldman Sachs & Co. LLC
  • Ventas previas en 3 meses: 3.544 acciones, ingresos por 717.961 $

El tamaño de la transacción es de minimis en relación con el flotante de Wabtec y, por sí solo, no indica un cambio material en las perspectivas de la compañía.

Wabtec Corp. (심볼 WAB)에 대해 제출된 144 양식은 3,544주 클래스 A 보통주를 Goldman Sachs & Co. LLC를 통해 2025년 7월 7일경에 2차 매도할 예정임을 공개합니다. 제출서에는 총 발행 주식 수가 171,126,330주인 가운데 대략 755,000달러의 시장 가치가 기재되어 있어 이번 매도가 회사 지분의 약 0.002%에 해당함을 나타냅니다. 동일 계정은 2025년 5월 13일부터 6월 18일 사이에 886주씩 네 번에 걸쳐 매도하여 총 약 718,000달러의 총 수익을 창출했습니다. 주식은 2022년 2월 28일(1,340주)과 2023년 3월 2일(2,204주) 제한 주식 보상으로 원래 취득되었습니다. 공지에는 10b5-1 계획 채택일이나 발행자와의 관계가 명시되어 있지 않습니다.

  • 매도 예정 주식 수: 3,544주
  • 대략 가치: 755,226달러
  • 중개인: Goldman Sachs & Co. LLC
  • 최근 3개월 매도 내역: 3,544주, 717,961달러 수익

이번 거래 규모는 Wabtec의 유통 주식 수에 비해 미미한 수준이며, 단독으로 회사 전망에 중대한 변화를 의미하지 않습니다.

Le formulaire 144 déposé pour Wabtec Corp. (symbole WAB) révèle une proposition de vente secondaire de 3 544 actions ordinaires de Classe A via Goldman Sachs & Co. LLC aux alentours du 07/07/2025. Le document indique une valeur de marché globale d'environ 755 000 $, contre un total d'actions en circulation de 171 126 330, ce qui suggère que la vente représente environ 0,002 % des capitaux propres de la société. Le même compte a vendu quatre blocs égaux de 886 actions entre le 13/05/2025 et le 18/06/2025, générant un produit brut total d'environ 718 000 $. Les actions ont été initialement acquises via des attributions d'actions restreintes le 28/02/2022 (1 340 actions) et le 02/03/2023 (2 204 actions) en tant que rémunération. Aucune date d'adoption d'un plan 10b5-1 ni relation avec l'émetteur n'est mentionnée dans l'avis.

  • Actions à vendre : 3 544
  • Valeur approximative : 755 226 $
  • Intermédiaire : Goldman Sachs & Co. LLC
  • Ventes précédentes sur 3 mois : 3 544 actions, produit de 717 961 $

La taille de la transaction est de minimis par rapport au flottant de Wabtec et ne signale pas, à elle seule, un changement significatif dans les perspectives de la société.

Das eingereichte Formular 144 für Wabtec Corp. (Symbol WAB) offenbart einen geplanten Sekundärverkauf von 3.544 Class A Stammaktien über Goldman Sachs & Co. LLC etwa am 07.07.2025. Die Meldung nennt einen aggregierten Marktwert von rund 755.000 US-Dollar bei insgesamt 171.126.330 ausstehenden Aktien, was darauf hindeutet, dass der Verkauf etwa 0,002 % des Eigenkapitals des Unternehmens ausmacht. Dasselbe Konto verkaufte zwischen dem 13.05.2025 und 18.06.2025 vier gleiche Blöcke von jeweils 886 Aktien und erzielte dabei Bruttoerlöse von ca. 718.000 US-Dollar. Die Aktien wurden ursprünglich am 28.02.2022 (1.340 Aktien) und am 02.03.2023 (2.204 Aktien) als Restricted-Stock-Auszeichnungen als Vergütung erworben. Im Hinweis wird kein Datum zur Annahme eines 10b5-1-Plans oder eine Beziehung zum Emittenten angegeben.

  • Zu verkaufende Aktien: 3.544
  • Ungefährer Wert: 755.226 $
  • Broker: Goldman Sachs & Co. LLC
  • Vorherige Verkäufe in 3 Monaten: 3.544 Aktien, Erlöse von 717.961 $

Die Transaktionsgröße ist im Verhältnis zum Streubesitz von Wabtec de minimis und signalisiert für sich genommen keine wesentliche Änderung der Unternehmensperspektive.

Positive
  • None.
Negative
  • None.

Insights

TL;DR Planned insider sale of 3,544 WAB shares worth ~$0.8M; volume is immaterial to float, implying negligible market impact.

The filing documents routine disposition activity under Rule 144. The proposed sale’s 0.002% share-of-float and sub-$1 million value fall well below thresholds that typically influence liquidity, control, or investor sentiment. Prior sales in the period equal the new block, keeping the filer within 144 volume limits. Absence of a stated 10b5-1 plan date offers limited insight into trading cadence, yet no adverse information is asserted. Given scale and context, I view market impact as neutral.

Il modulo 144 presentato per Wabtec Corp. (simbolo WAB) segnala una proposta di vendita secondaria di 3.544 azioni ordinarie di Classe A tramite Goldman Sachs & Co. LLC intorno al 07/07/2025. La documentazione indica un valore di mercato complessivo di circa 755 mila dollari, rispetto a un totale di azioni in circolazione di 171.126.330, suggerendo che la vendita rappresenta circa lo 0,002% del capitale sociale della società. Lo stesso conto ha venduto quattro blocchi uguali da 886 azioni tra il 13/05/2025 e il 18/06/2025, generando proventi lordi totali di circa 718 mila dollari. Le azioni erano state originariamente acquisite tramite premi in azioni vincolate il 28/02/2022 (1.340 azioni) e il 02/03/2023 (2.204 azioni) come compenso. Nel documento non è indicata la data di adozione di un piano 10b5-1 né alcun rapporto con l'emittente.

  • Azioni da vendere: 3.544
  • Valore approssimativo: 755.226 $
  • Intermediario: Goldman Sachs & Co. LLC
  • Vendite nei precedenti 3 mesi: 3.544 azioni, proventi per 717.961 $

La dimensione della transazione è de minimis rispetto al flottante di Wabtec e, da sola, non indica un cambiamento significativo nelle prospettive della società.

El formulario 144 presentado para Wabtec Corp. (símbolo WAB) revela una propuesta de venta secundaria de 3.544 acciones ordinarias Clase A a través de Goldman Sachs & Co. LLC aproximadamente el 07/07/2025. La presentación indica un valor de mercado agregado de aproximadamente 755 mil dólares, frente a un total de acciones en circulación de 171.126.330, lo que sugiere que la venta representa aproximadamente el 0,002% del capital social de la compañía. La misma cuenta vendió cuatro bloques iguales de 886 acciones entre el 13/05/2025 y el 18/06/2025, generando ingresos brutos totales de alrededor de 718 mil dólares. Las acciones fueron adquiridas originalmente mediante premios en acciones restringidas el 28/02/2022 (1.340 acciones) y el 02/03/2023 (2.204 acciones) como compensación. No se proporciona fecha de adopción de un plan 10b5-1 ni relación con el emisor en el aviso.

  • Acciones a vender: 3.544
  • Valor aproximado: 755.226 $
  • Corredor: Goldman Sachs & Co. LLC
  • Ventas previas en 3 meses: 3.544 acciones, ingresos por 717.961 $

El tamaño de la transacción es de minimis en relación con el flotante de Wabtec y, por sí solo, no indica un cambio material en las perspectivas de la compañía.

Wabtec Corp. (심볼 WAB)에 대해 제출된 144 양식은 3,544주 클래스 A 보통주를 Goldman Sachs & Co. LLC를 통해 2025년 7월 7일경에 2차 매도할 예정임을 공개합니다. 제출서에는 총 발행 주식 수가 171,126,330주인 가운데 대략 755,000달러의 시장 가치가 기재되어 있어 이번 매도가 회사 지분의 약 0.002%에 해당함을 나타냅니다. 동일 계정은 2025년 5월 13일부터 6월 18일 사이에 886주씩 네 번에 걸쳐 매도하여 총 약 718,000달러의 총 수익을 창출했습니다. 주식은 2022년 2월 28일(1,340주)과 2023년 3월 2일(2,204주) 제한 주식 보상으로 원래 취득되었습니다. 공지에는 10b5-1 계획 채택일이나 발행자와의 관계가 명시되어 있지 않습니다.

  • 매도 예정 주식 수: 3,544주
  • 대략 가치: 755,226달러
  • 중개인: Goldman Sachs & Co. LLC
  • 최근 3개월 매도 내역: 3,544주, 717,961달러 수익

이번 거래 규모는 Wabtec의 유통 주식 수에 비해 미미한 수준이며, 단독으로 회사 전망에 중대한 변화를 의미하지 않습니다.

Le formulaire 144 déposé pour Wabtec Corp. (symbole WAB) révèle une proposition de vente secondaire de 3 544 actions ordinaires de Classe A via Goldman Sachs & Co. LLC aux alentours du 07/07/2025. Le document indique une valeur de marché globale d'environ 755 000 $, contre un total d'actions en circulation de 171 126 330, ce qui suggère que la vente représente environ 0,002 % des capitaux propres de la société. Le même compte a vendu quatre blocs égaux de 886 actions entre le 13/05/2025 et le 18/06/2025, générant un produit brut total d'environ 718 000 $. Les actions ont été initialement acquises via des attributions d'actions restreintes le 28/02/2022 (1 340 actions) et le 02/03/2023 (2 204 actions) en tant que rémunération. Aucune date d'adoption d'un plan 10b5-1 ni relation avec l'émetteur n'est mentionnée dans l'avis.

  • Actions à vendre : 3 544
  • Valeur approximative : 755 226 $
  • Intermédiaire : Goldman Sachs & Co. LLC
  • Ventes précédentes sur 3 mois : 3 544 actions, produit de 717 961 $

La taille de la transaction est de minimis par rapport au flottant de Wabtec et ne signale pas, à elle seule, un changement significatif dans les perspectives de la société.

Das eingereichte Formular 144 für Wabtec Corp. (Symbol WAB) offenbart einen geplanten Sekundärverkauf von 3.544 Class A Stammaktien über Goldman Sachs & Co. LLC etwa am 07.07.2025. Die Meldung nennt einen aggregierten Marktwert von rund 755.000 US-Dollar bei insgesamt 171.126.330 ausstehenden Aktien, was darauf hindeutet, dass der Verkauf etwa 0,002 % des Eigenkapitals des Unternehmens ausmacht. Dasselbe Konto verkaufte zwischen dem 13.05.2025 und 18.06.2025 vier gleiche Blöcke von jeweils 886 Aktien und erzielte dabei Bruttoerlöse von ca. 718.000 US-Dollar. Die Aktien wurden ursprünglich am 28.02.2022 (1.340 Aktien) und am 02.03.2023 (2.204 Aktien) als Restricted-Stock-Auszeichnungen als Vergütung erworben. Im Hinweis wird kein Datum zur Annahme eines 10b5-1-Plans oder eine Beziehung zum Emittenten angegeben.

  • Zu verkaufende Aktien: 3.544
  • Ungefährer Wert: 755.226 $
  • Broker: Goldman Sachs & Co. LLC
  • Vorherige Verkäufe in 3 Monaten: 3.544 Aktien, Erlöse von 717.961 $

Die Transaktionsgröße ist im Verhältnis zum Streubesitz von Wabtec de minimis und signalisiert für sich genommen keine wesentliche Änderung der Unternehmensperspektive.

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)
07/02/2025
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 07/02/2025 C 50,000 A (1) 50,000 D
Class A Common Stock 07/02/2025 S(2) 6,439 D $337.563(3) 43,561 D
Class A Common Stock 07/02/2025 S(2) 4,728 D $338.5551(3) 38,833 D
Class A Common Stock 07/02/2025 S(2) 10,483 D $339.6543(3) 28,350 D
Class A Common Stock 07/02/2025 S(2) 18,695 D $340.6935(3) 9,655 D
Class A Common Stock 07/02/2025 S(2) 7,057 D $341.4375(3) 2,598 D
Class A Common Stock 07/02/2025 S(2) 2,598 D $342.4272(3) 0 D
Class A Common Stock 07/03/2025 C 50,000 A (1) 50,000 D
Class A Common Stock 07/03/2025 S(2) 2,639 D $339.1182(4) 47,361 D
Class A Common Stock 07/03/2025 S(2) 8,678 D $340.2508(4) 38,683 D
Class A Common Stock 07/03/2025 S(2) 13,835 D $341.1566(4) 24,848 D
Class A Common Stock 07/03/2025 S(2) 8,627 D $342.3384(4) 16,221 D
Class A Common Stock 07/03/2025 S(2) 9,433 D $343.1229(4) 6,788 D
Class A Common Stock 07/03/2025 S(2) 3,900 D $344.1207(4) 2,888 D
Class A Common Stock 07/03/2025 S(2) 2,888 D $345.1281(4) 0 D
Class B Common Stock 07/02/2025 J 50,000 D (5) 36,687,346 D
Class B Common Stock 07/03/2025 J 50,000 D (5) 36,637,346 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) 07/02/2025 C 62,500 (1) (1) Class A Common Stock 50,000 $0 45,859,181 D
Class A Units (1) 07/03/2025 C 62,500 (1) (1) Class A Common Stock 50,000 $0 45,796,681 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 $337.08-$338.06, inclusive (weighted average of $337.563); $338.13-$339.12, inclusive (weighted average of $338.5551); $339.14-$340.12, inclusive (weighted average of $339.6543); $340.145-$341.14, inclusive (weighted average of $340.6935); $341.15-$342.145, inclusive (weighted average of $341.4375); and $342.15-$342.71, inclusive (weighted average of $342.4272), 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 $338.62-$339.60, inclusive (weighted average of $339.1182); $339.64-$340.63, inclusive (weighted average of $340.2508); $340.645-$341.61, inclusive (weighted average of $341.1566); $341.68-$342.66, inclusive (weighted average of $342.3384); $342.68-$343.64, inclusive (weighted average of $343.1229); $343.75-$344.545, inclusive (weighted average of $344.1207); and $344.82-$345.58, inclusive (weighted average of $345.1281), 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.
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 07/07/2025
/s/ Ernest C. Garcia II, ECG II SPE, LLC 07/07/2025
** 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

How many WAB shares are proposed for sale in this Form 144?

3,544 Class A common shares are listed for potential sale.

What is the estimated market value of the shares in the Form 144 filing?

The aggregate market value is approximately $755,226.40.

When is the approximate sale date for the Wabtec shares?

The filing states an approximate sale date of 07/07/2025.

Which broker is handling the proposed WAB share sale?

The broker listed is Goldman Sachs & Co. LLC.

Have any shares been sold by this filer in the past three months?

Yes, four sales totaling 3,544 shares occurred between 05/13/2025 and 06/18/2025.

How many Wabtec shares are outstanding according to the filing?

The notice cites 171,126,330 shares outstanding.
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