Form 4: Carvana CEO Ernest Garcia III Reports Stock Transactions
SEC Form 4 Filing
Carvana's CEO, Ernest Garcia III, reports the disposal of shares to cover tax obligations and details beneficial ownership through trusts.
Summary
- On July 1, 2024, Ernest Garcia III, CEO of Carvana Co., reported a transaction involving Class A Common Stock.
- 981 shares were disposed of to cover tax obligations at a price of $124.35 per share.
- Following the transaction, Garcia directly owns 894,488 shares.
- Garcia also has indirect ownership through the Ernest C. Garcia III Multi-Generational Trust III, holding 950,000 shares, and the Ernest Irrevocable 2004 Trust III, holding 850,000 shares.
- Garcia shares voting and dispositive power over the shares held by both trusts as Co-Administrative Trustee and Co-Investment Trustee.
Sentiment
Score: 5
Explanation: This is a routine filing related to stock transactions for tax purposes, so the sentiment is neutral.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Key Dates
| Date | Description |
|---|---|
| 07/01/2024 | Date of stock transaction (disposal of shares for tax obligations). |
| 07/03/2024 | Date of signature on the Form 4 filing. |
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