Form 4: Carvana CEO Ernest Garcia III Reports Stock Transactions
SEC Form 4
Carvana's CEO, Ernest Garcia III, reports the disposition of 980 shares for tax purposes and details beneficial ownership through trusts.
Summary
- On June 1, 2024, Ernest Garcia III, CEO of Carvana Co., reported a transaction involving Class A Common Stock.
- 980 shares were disposed of at a price of $99.98 per share to cover tax obligations related to vesting restricted stock units.
- Following the transaction, Garcia directly owns 895,469 shares of Class A Common Stock.
- Garcia also has indirect ownership of 950,000 shares through the Ernest C. Garcia III Multi-Generational Trust III and 850,000 shares through the Ernest Irrevocable 2004 Trust III.
- 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 neutral filing detailing stock transactions. It doesn't inherently indicate positive or negative sentiment about the company's performance.
Industry Context
This filing is a routine disclosure of stock transactions by a company insider, which is common in publicly traded companies. It provides transparency into the ownership structure and any changes in holdings by key personnel.
Key Dates
| Date | Description |
|---|---|
| 06/01/2024 | Date of stock transaction (disposal of shares for tax purposes). |
| 06/04/2024 | Date of signature on the Form 4 filing. |
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