[Form 4] SiteOne Landscape Supply, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Form 4 overview: On 11 July 2025, Carvana Co. (CVNA) Chief Executive Officer, director, and 10 % owner Ernest C. Garcia III reported a series of open-market sales totalling 10,000 Class A shares, executed through two family trusts under a Rule 10b5-1 trading plan adopted on 13 Dec 2024.

• Trade details: Twenty individual sale lots were executed at volume-weighted average prices between $342.78 and $351.64, generating roughly $3.4 million in gross proceeds.
• Remaining ownership: Post-transaction, the Ernest Irrevocable 2004 Trust III holds ≈661 k shares and the Ernest C. Garcia III Multi-Generational Trust III holds ≈761 k shares, leaving Garcia with indirect beneficial ownership exceeding 1.4 million shares.
• Form of sales: All sales were executed pursuant to a pre-arranged Rule 10b5-1 plan, signalling advance commitment rather than discretionary timing.

Investor takeaway: While insider disposals can be interpreted as a negative sentiment signal, the volume represents less than 1 % of Garcia’s indirect holdings and was carried out under an established trading plan, limiting concerns of opportunistic selling. The filing does not disclose any derivative activity nor changes in direct ownership.

Positive

• Sales carried out under a Rule 10b5-1 plan, suggesting the timing was pre-scheduled and not based on undisclosed information.
• Disposal represents less than 1 % of Garcia’s indirect holdings, leaving insider ownership levels largely intact.

Negative

• CEO, director and 10 % owner sold 10,000 shares (~$3.4 million), which may be perceived as a bearish signal despite limited size.

Insights

Equity Analyst

TL;DR – CEO sold 10k shares (< 1 % stake) via 10b5-1, modest negative sentiment but limited impact.

The disposal equates to roughly $3.4 million and represents a fractional reduction in Garcia’s >1.4 million-share indirect position. Execution under a Rule 10b5-1 plan mitigates signalling risk because the sale schedule was predetermined. Still, any sale by a founder-CEO and 10 % owner generally draws attention and can weigh on short-term sentiment, particularly after CVNA’s sizeable year-to-date rally. From a valuation standpoint, the sale is immaterial to share count and does not alter fundamentals. I view the filing as marginally negative but not materially impactful.

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^*

BLACK DOUG

(Last) (First) (Middle)

MANSELL OVERLOOK

300 COLONIAL CENTER PARKWAY, SUITE 600

(Street)

ROSWELL GA 30076

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SiteOne Landscape Supply, Inc. [ SITE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

3. Date of Earliest Transaction (Month/Day/Year)
07/11/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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
Common Stock	07/11/2025		M		44,582	A	$51.59	626,444	D
Common Stock	07/11/2025		S(1)		29,760	D	$129.28(2)	596,684	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
Stock Options (right to buy)	$51.59	07/11/2025		M		44,582		(3)	02/06/2029	Common Stock	44,582	$0.00	11,146	D

Explanation of Responses:

1. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 sales plan adopted by the Reporting Person on November 27, 2024.

2. The price reported in column 4 is a weighted average price. The shares were sold at prices ranging from $129.21 to $129.94, inclusive. Upon request by the SEC staff, the issuer, or any security holder of the issuer, full information regarding the number of shares purchased or sold at each separate price will be provided.

3. 66,873 options were granted on February 6, 2019, and vested and became exercisable ratably in four installments on each anniversary of February 6, 2019. Prior to the transactions reported on this Form 4,55,728 of these options that remain outstanding had vested.

	/s/ John Guthrie, attorney-in-fact for Doug Black	07/14/2025
	** 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).
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FAQ

How many Carvana (CVNA) shares did CEO Ernest C. Garcia III sell?

The Form 4 reports the sale of 10,000 Class A shares on 11 July 2025.

At what prices were the CVNA shares sold?

Sales were executed in multiple lots with average prices ranging from $342.78 to $351.64 per share.

Was the insider sale part of a pre-arranged plan?

Yes. All transactions were effected under a Rule 10b5-1 trading plan adopted on 13 Dec 2024.

How many shares does Ernest C. Garcia III still own after the sale?

The two family trusts still hold a combined ≈1.4 million CVNA shares after the reported transactions.

Does the Form 4 disclose any derivative transactions?

No derivative securities were acquired or disposed of in this filing.

Is this insider sale considered material to Carvana investors?

Given the small percentage of total holdings (<1 %), the sale is generally viewed as not materially impactful to the company’s fundamentals.