What are Ernest C. Garcia III’s direct Carvana share holdings after this transaction?

Following the tax-withholding disposition, Ernest C. Garcia III directly holds 910,345 shares of Carvana Class A common stock. This figure comes from the post-transaction ownership line in the Form 4 and reflects his direct, not trust-held, position in the company.

Carvana (CVNA) CEO has shares withheld to cover RSU taxes

Filing Impact

(Very High)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

CARVANA CO. Chief Executive Officer Ernest C. Garcia III had 4,537 shares of Class A common stock withheld on April 1, 2026 to cover tax obligations upon the vesting of restricted stock units, at a price of $312.09 per share. This was recorded as a tax-withholding disposition rather than an open-market sale. After this event, he directly holds 910,345 Class A shares, and has additional indirect holdings of 450,000 shares through the Ernest C. Garcia III Multi-Generational Trust III and 350,000 shares through the Ernest Irrevocable 2004 Trust III.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider GARCIA ERNEST C. III

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Tax Withholding	Class A Common Stock	4,537	$312.09	$1.42M
holding	Class A Common Stock	--	--	--
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Class A Common Stock — 910,345 shares (Direct); Class A Common Stock — 450,000 shares (Indirect, Ernest C. Garcia III Multi-Generational Trust III)

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. 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. 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: 4,537 shares Withholding price per share: $312.09 per share Direct holdings after transaction: 910,345 shares +2 more

5 metrics

Shares withheld for taxes 4,537 shares Tax-withholding disposition on April 1, 2026

Withholding price per share $312.09 per share Value used for RSU tax-withholding event

Direct holdings after transaction 910,345 shares Class A common stock held directly by CEO

Multi-Generational Trust holdings 450,000 shares Held by Ernest C. Garcia III Multi-Generational Trust III

Irrevocable Trust holdings 350,000 shares Held by Ernest Irrevocable 2004 Trust III

Key Terms

restricted stock units, tax-withholding disposition, Class A Common Stock, Investment Trustee, +1 more

5 terms

restricted stock units financial

"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.

tax-withholding disposition financial

"transaction_action": "tax-withholding disposition""

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

Class A Common Stock financial

"Represents total number of shares of Class A Common Stock of the Issuer withheld for taxes"

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.

Investment Trustee financial

"The Reporting Person is the Investment Trustee and Co-Administrative Trustee of the Multi-Generational Trust"

indirect ownership financial

"These shares of Class A common stock are held directly by the Ernest Irrevocable 2004 Trust III"

Form 4 Insider Transactions: What Each Field Means →

04/03/2026 - 04:28 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^*

GARCIA ERNEST C. III

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/01/2026

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	04/01/2026		F		4,537⁽¹⁾	D	$312.09	910,345	D
Class A Common Stock								450,000	I	Ernest C. Garcia III Multi-Generational Trust III⁽²⁾
Class A Common Stock								350,000	I	Ernest Irrevocable 2004 Trust III⁽³⁾

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. 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.

2. 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.

3. 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.

Remarks:

	/s/ Paul Breaux, by Power of Attorney for Ernest C. Garcia, III	04/03/2026
	** 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 transaction did Carvana (CVNA) report for Ernest C. Garcia III?

Carvana reported that CEO Ernest C. Garcia III had 4,537 Class A shares withheld to cover taxes upon vesting of restricted stock units. This was a tax-withholding disposition, not an open-market sale, and reflects routine equity compensation mechanics.

How many Carvana shares were withheld for taxes in this Form 4 filing?

A total of 4,537 Class A common shares were withheld to satisfy tax obligations tied to vesting restricted stock units. The transaction was priced at $312.09 per share, as disclosed, and reduced the shares delivered from equity awards rather than involving market trading.

What indirect Carvana holdings are reported for trusts associated with Ernest C. Garcia III?

The filing shows 450,000 Class A shares held by the Ernest C. Garcia III Multi-Generational Trust III and 350,000 shares held by the Ernest Irrevocable 2004 Trust III. Garcia is described as Investment Trustee and Co-Administrative Trustee for both trusts, giving him associated indirect holdings.

Does this Carvana Form 4 show any open-market buying or selling by the CEO?

The disclosed transaction is a tax-withholding disposition of 4,537 shares related to restricted stock units, coded as “F.” The transaction summary shows no open-market purchases or sales, indicating the filing reflects compensation-related withholding rather than discretionary trading.

How large is the CEO’s overall Carvana position based on this Form 4?

Based on this Form 4, Ernest C. Garcia III holds 910,345 shares directly, plus 450,000 and 350,000 shares indirectly through two named trusts. Together, these direct and indirect amounts highlight a substantial continuing equity interest in Carvana following the tax-withholding event.