Carvana CEO has 7,070 shares withheld for taxes
Carvana CEO Ernest C. Garcia III had shares withheld for RSU tax obligations and now reports over 8.7 million Class A shares held directly and via trusts.
Rhea-AI Filing Summary
CARVANA CO. (CVNA) reported that Chief Executive Officer and director Ernest C. Garcia III had 7,070 shares of Class A Common Stock withheld on September 1, 2026 to cover taxes upon vesting of restricted stock units, at a value of $72.18 per share. After this tax-withholding transaction, he directly holds 4,716,799 Class A shares, and indirectly holds 2,250,000 shares through the Ernest C. Garcia III Multi-Generational Trust III and 1,750,000 shares through the Ernest Irrevocable 2004 Trust III, where he serves as Investment Trustee and Co-Administrative Trustee. No Rule 10b5-1 trading plan is reported for these transactions.
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Insights
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Insider Trade Summary
Tax Withholding: 7,070 shares
Tax Withholding
3 txns
Insider
GARCIA ERNEST C. III
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Class A Common Stock F1 | 7,070 | $72.18 | $510K |
| holding | Class A Common Stock F2 | -- | -- | -- |
| holding | Class A Common Stock F3 | -- | -- | -- |
Holdings After Transaction:
Class A Common Stock — 4,716,799 shares (Direct);
Class A Common Stock — 2,250,000 shares (Indirect, Ernest C. Garcia III Multi-Generational Trust III);
Class A Common Stock — 1,750,000 shares (Indirect, Ernest Irrevocable 2004 Trust III)
Footnotes (3)
- 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. These shares of Class A common stock are held directly by the Ernest C. Garcia III Multi-Generational Trust III (the "Multi-Generational Trust"). The Reporting Person is the Investment Trustee and Co-Administrative Trustee of the Multi-Generational Trust.
- F3. These shares of Class A common stock are held directly by the Ernest Irrevocable 2004 Trust III (the "Irrevocable Trust"). The Reporting Person is the Investment Trustee and Co-Administrative Trustee of the Irrevocable Trust.
Key Figures
Shares withheld for taxes: 7,070 shares
Per-share value for tax withholding: $72.18 per share
Direct holdings after transaction: 4,716,799 shares
+3 more
6 metrics
Shares withheld for taxes
7,070 shares
Class A Common Stock withheld on September 1, 2026 for RSU tax obligations
Per-share value for tax withholding
$72.18 per share
Value applied to the 7,070 withheld shares on September 1, 2026
Direct holdings after transaction
4,716,799 shares
Carvana Class A Common Stock directly owned by Ernest C. Garcia III after withholding
Indirect holdings via Multi-Generational Trust
2,250,000 shares
Class A Common Stock held by Ernest C. Garcia III Multi-Generational Trust III
Indirect holdings via Irrevocable Trust
1,750,000 shares
Class A Common Stock held by Ernest Irrevocable 2004 Trust III
Shares used for exercise price or tax liability events
7,070 shares
Total shares reported in Code F exercise-price-or-tax-liability category in this filing
Key Terms
restricted stock units, Class A Common Stock, tax liability, Rule 10b5-1, +1 more
5 terms
restricted stock units financial
"shares of Class A Common Stock of the Issuer 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.
Class A Common Stock financial
"Represents total number of shares of Class A Common Stock of the Issuer withheld"
Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
tax liability financial
"Payment of tax liability by delivering or withholding securities"
Rule 10b5-1 regulatory
"No Rule 10b5-1 trading plan is reported for these transactions"
Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.
Investment Trustee financial
"The Reporting Person is the Investment Trustee and Co-Administrative Trustee"
FAQ
What transaction did Carvana (CVNA) CEO Ernest C. Garcia III report in this Form 4?
He reported 7,070 shares of Carvana Class A Common Stock withheld on September 1, 2026 to cover taxes upon vesting of restricted stock units, based on a value of $72.18 per share. This is recorded as a tax-withholding disposition, not an open-market sale.
What are the indirect Carvana (CVNA) holdings reported for Ernest C. Garcia III?
He indirectly holds 2,250,000 shares of Class A Common Stock through the Ernest C. Garcia III Multi-Generational Trust III and 1,750,000 shares through the Ernest Irrevocable 2004 Trust III, where he is Investment Trustee and Co-Administrative Trustee of each trust.
Was the Carvana (CVNA) Form 4 transaction under a Rule 10b5-1 trading plan?
No. The filing indicates no Rule 10b5-1 trading plan for these reported holdings and the tax-withholding transaction. The document’s Rule 10b5-1 checkbox is not marked as an affirmative trading plan arrangement.
AI-generated analysis. How Rhea-AI works. Not financial advice.
