Carvana (NYSE: CVNA) CFO sells 63,750 shares after option exercises
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
CARVANA CO. Chief Financial Officer Mark W. Jenkins reported a series of transactions in Class A Common Stock on June 1, 2026. He sold a total of 63,750 shares in open‑market transactions at prices including $71.28, $70.78, and $69.72.
On the same date, he exercised stock options to acquire 63,750 shares at exercise prices of $10.39, $8.41, and $2.01. In addition, 7,016 shares were withheld to cover tax obligations upon vesting of restricted stock units. Following these transactions, he directly owns 1,036,594 shares.
The filing notes that the option exercises and related sales were carried out under a pre‑arranged Rule 10b5‑1 trading plan adopted on August 5, 2024, indicating these trades were scheduled in advance rather than timed discretionarily.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 63,750 shares ($4,487,763)
Net Sell
10 txns
Insider
JENKINS MARK W.
Role
Chief Financial Officer
Sold
63,750 shs ($4.49M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Options (Right to Buy) | 50,000 | $0.00 | -- |
| Exercise | Stock Options (Right to Buy) | 10,000 | $0.00 | -- |
| Exercise | Stock Options (Right to Buy) | 3,750 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 7,016 | $71.00 | $498K |
| Exercise | Class A Common Stock | 50,000 | $2.01 | $100K |
| Exercise | Class A Common Stock | 10,000 | $8.41 | $84K |
| Exercise | Class A Common Stock | 3,750 | $10.39 | $39K |
| Sale | Class A Common Stock | 24,259 | $69.72 | $1.69M |
| Sale | Class A Common Stock | 36,986 | $70.78 | $2.62M |
| Sale | Class A Common Stock | 2,505 | $71.28 | $179K |
Holdings After Transaction:
Stock Options (Right to Buy) — 592,565 shares (Direct, null);
Class A Common Stock — 1,036,594 shares (Direct, null)
Footnotes (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. All amounts reflect the five for one forward stock split conducted by the issuer on May 7, 2026. 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. 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. This transaction was executed in multiple trades at prices ranging from $69.15 to $70.14 inclusive. This transaction was executed in multiple trades at prices ranging from $70.15 to $71.15 inclusive. This transaction was executed in multiple trades at prices ranging from $71.15 to $72.02 inclusive. 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. The non-qualified stock options representing the right to purchase for the exercise price Class A Common Stock of the Issuer vests 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
Shares sold: 63,750 shares
Sale prices: $71.28, $70.78, $69.72 per share
Options exercised: 63,750 shares
+3 more
6 metrics
Shares sold
63,750 shares
Open-market sales of Class A Common Stock on June 1, 2026
Sale prices
$71.28, $70.78, $69.72 per share
Reported volume-weighted average prices for three sale tranches
Options exercised
63,750 shares
Stock option exercises into Class A Common Stock on June 1, 2026
Option exercise prices
$10.39, $8.41, $2.01 per share
Exercise prices for non-qualified stock options
Tax withholding shares
7,016 shares
Shares withheld to cover taxes on RSU vesting
Shares owned after transactions
1,036,594 shares
Directly held Class A Common Stock following June 1, 2026 trades
Key Terms
Rule 10b5-1 trading plan, restricted stock units, non-qualified stock options, volume weighted average sale price, +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 August 5, 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
"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."
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.
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 and monthly thereafter for the following three years..."
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.
volume weighted average sale price financial
"The price reported above reflects the volume weighted average sale price."
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.
FAQ
What did Carvana (CVNA) CFO Mark Jenkins report in this Form 4?
Carvana CFO Mark W. Jenkins reported option exercises and share sales in Class A Common Stock. He exercised options for 63,750 shares, sold 63,750 shares in the open market, and had 7,016 shares withheld for taxes, ending with 1,036,594 shares held directly.
Were Carvana (CVNA) CFO’s trades made under a Rule 10b5-1 trading plan?
Yes. The Form 4 footnotes state that the reported option exercises and related sales were effected under a Rule 10b5‑1 trading plan. That plan was adopted by the reporting person on August 5, 2024, indicating the trades were pre‑scheduled rather than opportunistic.
What stock options did the Carvana (CVNA) CFO exercise in this filing?
The CFO exercised non‑qualified stock options for 63,750 underlying shares of Class A Common Stock. These options carried exercise prices of $10.39, $8.41, and $2.01 per share, with vesting schedules starting April 1, 2024 and April 1, 2025, and expirations extending into 2033 and 2034.