Carvana (NYSE: CVNA) director trust records small stock trades

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

CARVANA CO. director Michael E. Maroone reported small indirect trades in Class A Common Stock through a family trust and related entities. A family trust account sold 2 shares at $310.76 and 3 shares at $411.61, and bought 5 shares at $441.36 in open-market transactions.

After these trades, the family trust held 264 shares indirectly for his benefit, while separate holding entries show 143,573 shares held directly and 45,000 shares held by the Michael Maroone Family Partnership, LP. The trust transactions were executed by an investment manager with discretionary authority, without his knowledge, and the form was filed promptly after he became aware. A 5-for-1 forward stock split on May 7, 2026 is noted as exempt and not reported here.

Insider Trade Summary

5 transactions reported

Mixed 5 txns

Insider MAROONE MICHAEL E

Role null

Bought 5 shs ($2K)

Sold 5 shs ($2K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	2	$310.76	$621.52
Sale	Class A Common Stock	3	$411.61	$1K
Purchase	Class A Common Stock	5	$441.36	$2K
holding	Class A Common Stock	--	--	--
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Class A Common Stock — 264 shares (Indirect, By Family Trust FBO Michael E. Maroone); Class A Common Stock — 143,573 shares (Direct, null)

Footnotes (1)

The transactions reported herein were effected by an investment manager with discretionary authority over an account of the Family Trust FBO Michael Maroone (the "Trust") without the knowledge or direction of the Reporting Person. The Reporting Person first became aware of the transactions on June 1, 2026 and is filing this Form 4 promptly upon discovery. Upon discovery, the Reporting Person notified the Issuer and implemented measures with the manager to prevent future occurrences. The Issuer effected a 5-for-1 forward stock split on May 7, 2026 that is exempt under Rule 16a-9(a) and is not reported on this Form 4. Represents shares held directly by the Trust, where the Reporting Person is beneficiary and trustee. Represents shares of Class A common stock held directly by the Michael Maroone Family Partnership, LP, an entity controlled by the Reporting Person.

Key Figures

Shares sold (trust, Feb 2026): 3 shares at $411.61 Shares sold (trust, Mar 2026): 2 shares at $310.76 Shares bought (trust, Jan 2026): 5 shares at $441.36 +4 more

7 metrics

Shares sold (trust, Feb 2026) 3 shares at $411.61 Open-market sale on February 9, 2026 by Family Trust account

Shares sold (trust, Mar 2026) 2 shares at $310.76 Open-market sale on March 16, 2026 by Family Trust account

Shares bought (trust, Jan 2026) 5 shares at $441.36 Open-market purchase on January 8, 2026 by Family Trust account

Trust holdings after trades 264 shares Class A Common Stock held indirectly by Family Trust after reported transactions

Direct holdings 143,573 shares Class A Common Stock held directly as of January 8, 2026 holding entry

Family partnership holdings 45,000 shares Class A Common Stock held by Michael Maroone Family Partnership, LP as of January 8, 2026

Forward stock split ratio 5-for-1 Forward stock split effective May 7, 2026, exempt under Rule 16a-9(a)

Key Terms

open-market sale, open-market purchase, Family Trust FBO Michael E. Maroone, forward stock split, +2 more

6 terms

open-market sale financial

"transaction_action: "open-market sale" for trust transactions selling 2 and 3 shares"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

open-market purchase financial

"transaction_action: "open-market purchase" for the 5-share buy on January 8, 2026"

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

Family Trust FBO Michael E. Maroone financial

"nature_of_ownership: "By Family Trust FBO Michael E. Maroone" for indirect holdings"

forward stock split financial

"The Issuer effected a 5-for-1 forward stock split 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.

Rule 16a-9(a) regulatory

"5-for-1 forward stock split on May 7, 2026 that is exempt under Rule 16a-9(a)"

discretionary authority financial

"transactions were effected by an investment manager with discretionary authority over an account of the Family Trust"

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Form 4 Insider Transactions: What Each Field Means →

06/04/2026 - 06:30 PM

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^*

MAROONE MICHAEL E

(Last)

(First)

(Middle)

C/O CARVANA CO.

300 E. RIO SALADO PARKWAY

(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)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
01/08/2026

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	01/08/2026		P⁽¹⁾		5	A	$441.36	269⁽²⁾	I	By Family Trust FBO Michael E. Maroone⁽³⁾
Class A Common Stock	02/09/2026		S⁽¹⁾		3	D	$411.61	266⁽²⁾	I	By Family Trust FBO Michael E. Maroone⁽³⁾
Class A Common Stock	03/16/2026		S⁽¹⁾		2	D	$310.76	264⁽²⁾	I	By Family Trust FBO Michael E. Maroone⁽³⁾
Class A Common Stock								45,000⁽²⁾	I	By Michael Maroone Family Partnership, LP⁽⁴⁾
Class A Common Stock								143,573⁽²⁾	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)

Explanation of Responses:

1. The transactions reported herein were effected by an investment manager with discretionary authority over an account of the Family Trust FBO Michael Maroone (the "Trust") without the knowledge or direction of the Reporting Person. The Reporting Person first became aware of the transactions on June 1, 2026 and is filing this Form 4 promptly upon discovery. Upon discovery, the Reporting Person notified the Issuer and implemented measures with the manager to prevent future occurrences.

2. The Issuer effected a 5-for-1 forward stock split on May 7, 2026 that is exempt under Rule 16a-9(a) and is not reported on this Form 4.

3. Represents shares held directly by the Trust, where the Reporting Person is beneficiary and trustee.

4. Represents shares of Class A common stock held directly by the Michael Maroone Family Partnership, LP, an entity controlled by the Reporting Person.

Remarks:

	/s/ Paul Breaux, by Power of Attorney for Michael E. Maroone	06/04/2026
	** 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

FAQ

What insider trades did Carvana (CVNA) director Michael Maroone report?

He reported very small indirect trades: a family trust account sold 2 shares at $310.76 and 3 shares at $411.61, then bought 5 shares at $441.36. These are routine open-market transactions in Carvana Class A Common Stock by a trust-related account.

How many Carvana (CVNA) shares does Michael Maroone hold after these transactions?

The filing shows 143,573 shares held directly and 45,000 shares held through the Michael Maroone Family Partnership, LP. The family trust account involved in these trades held 264 shares indirectly for his benefit after the reported buy and sell transactions.

Were the Carvana (CVNA) trust trades directed by Michael Maroone personally?

According to the filing, an investment manager with discretionary authority executed the trust transactions without his knowledge or direction. Maroone became aware on June 1, 2026, notified Carvana, and implemented measures with the manager to prevent similar undisclosed trades in the future.

Did the Carvana (CVNA) stock split appear in this Form 4 for Michael Maroone?

The filing notes a 5-for-1 forward stock split effective May 7, 2026, but states it is exempt under Rule 16a-9(a) and is not reported in this Form 4. The reported figures therefore focus only on the small open-market trust trades.

What types of ownership entities are disclosed for Michael Maroone’s Carvana (CVNA) holdings?

The report lists three types: shares held directly in his name, shares held by the Michael Maroone Family Partnership, LP, and shares held by a Family Trust for his benefit and as trustee. The small trades occurred in the Family Trust account.