Form 4: Carvana CEO Ernest Garcia III Sells Shares to Cover Taxes

Carvana's CEO, Ernest Garcia III, sold 114 shares of Class A Common Stock on March 4, 2024, to cover tax obligations arising from the vesting of restricted stock units.

Summary

• On March 4, 2024, Ernest Garcia III, the CEO of Carvana Co., sold 114 shares of Class A Common Stock.
• The sale was executed at a weighted average price of $80.62 per share, with individual trades ranging from $80.40 to $81.28.
• The purpose of the sale was to cover required taxes upon the vesting of restricted stock units.
• Following the transaction, Garcia directly owns 870,848 shares of Class A Common Stock.
• Garcia also indirectly owns 950,000 shares through the Ernest C. Garcia III Multi-Generational Trust III and 850,000 shares through the Ernest Irrevocable 2004 Trust III, over which he shares voting and dispositive power as Co-Administrative Trustee and Co-Investment Trustee.

Sentiment

Score: 6

Explanation: The document reflects a routine transaction (sale of shares to cover taxes) by the CEO, which is neither particularly positive nor negative. It's a neutral event in terms of sentiment.

Industry Context

This is a routine transaction for covering tax obligations and doesn't necessarily indicate a change in the CEO's confidence in the company.

Stakeholder Impact

• The sale of a small number of shares is unlikely to have a significant impact on shareholders.

Key Dates