Carvana (NYSE: CVNA) VP sells 1,000 shares under Rule 10b5-1 plan

Rhea-AI Filing Summary

CARVANA CO. executive Stephen R. Palmer, Vice President of Accounting, reported an open-market sale of 1,000 shares of Class A Common Stock. The shares were sold at an average price of $395.32 per share on the reported date. After this transaction, Palmer directly holds 32,891 shares of Carvana stock. According to the filing, the sale was effected under a Rule 10b5-1 trading plan that Palmer adopted on May 28, 2025, indicating the trade was pre-arranged rather than initiated at his discretion on the trade date.

Insider Trade Summary 10b5-1

Net Seller: 1,000 shares ($395,320)

Net Sell 1 txn

Insider Palmer Stephen R

Role Vice President of Accounting

Sold 1,000 shs ($395K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	1,000	$395.32	$395K

Holdings After Transaction: Class A Common Stock — 32,891 shares (Direct, null)

Footnotes (1)

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Key Figures

Shares sold: 1,000 shares Sale price per share: $395.32 per share Shares owned after transaction: 32,891 shares +1 more

4 metrics

Shares sold 1,000 shares Open-market sale of Class A Common Stock

Sale price per share $395.32 per share Average price for the 1,000 shares sold

Shares owned after transaction 32,891 shares Direct holdings following the sale

Transaction date May 1, 2026 Date of the reported open-market sale

Key Terms

Rule 10b5-1 trading plan, open-market sale, Class A Common Stock

3 terms

Rule 10b5-1 trading plan regulatory

"The reported sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person"

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.

open-market sale financial

"transaction_action: open-market sale"

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.

Class A Common Stock financial

"security_title: Class A Common Stock"

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.

Form 4 Insider Transactions: What Each Field Means →

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^*

Palmer Stephen R

(Last) (First) (Middle)

C/O CARVANA CO.

300 E. RIO SALADO PKWY

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Vice President of Accounting

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/01/2026

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)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	05/01/2026		S		1,000(1)	D	$395.32	32,891	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The reported sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 28, 2025 (the "10b5-1 Plan").

Remarks:

	/s/ Paul Breaux, by Power of Attorney for Stephen R. Palmer	05/01/2026
	** 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)

FAQ

What insider transaction did Carvana (CVNA) report for Stephen R Palmer?

Carvana reported that Stephen R. Palmer, Vice President of Accounting, sold 1,000 shares of Class A Common Stock in an open-market transaction at an average price of $395.32 per share, as disclosed in a Form 4 insider trading report.

How many Carvana (CVNA) shares did Stephen R Palmer sell and at what price?

Stephen R. Palmer sold 1,000 shares of Carvana Class A Common Stock. The transaction was executed as an open-market sale at an average price of $395.32 per share, according to the insider trading disclosure.

How many Carvana (CVNA) shares does Stephen R Palmer own after this sale?

Following the reported transaction, Stephen R. Palmer directly owns 32,891 shares of Carvana Class A Common Stock. This post-transaction holding amount is disclosed in the Form 4 filing as the total shares beneficially owned.

What is Stephen R Palmer’s role at Carvana (CVNA) in this insider filing?

In this insider trading disclosure, Stephen R. Palmer is identified as an officer of Carvana, serving as Vice President of Accounting. He is not listed as a director or ten percent owner in the reported information.

Was the Carvana (CVNA) insider sale by Stephen R Palmer made under a Rule 10b5-1 plan?

Yes. The filing states that the reported sales were effected pursuant to a Rule 10b5-1 trading plan adopted by Stephen R. Palmer on May 28, 2025, indicating the trades followed a pre-established trading arrangement.

What type of security did Stephen R Palmer trade in the Carvana (CVNA) filing?

The insider transaction involved Carvana’s Class A Common Stock. The Form 4 shows a non-derivative open-market sale of 1,000 shares of this security, with Palmer retaining 32,891 shares directly after the sale.