Carvana Director J. Danforth Quayle Exercises Options and Sells $1.0M in CVNA Stock

Executive Summary

On October 30, 2026, Carvana Co. Director J. Danforth Quayle executed an option exercise and same-day sale of 14,520 shares of Class A Common Stock. The shares were acquired through the exercise of stock options at a strike price of $3.00 per share and sold at a volume-weighted average price of $68.88, generating gross proceeds of approximately $1.00 million.

Transaction Breakdown

• Derivative Exercise (Code M): Exercised 14,520 stock options expiring on April 27, 2027, with an exercise price of $3.00 per share.
• Open Market Sale (Code S): Disposed of 14,520 Class A Common shares at a weighted average price of $68.88 (individual execution prices ranged from $68.83 to $68.88).
• Net Cash Realized: Approximately $956,577.60 before taxes and transaction fees.

Ownership Profile

Following the transactions, Director Quayle continues to hold significant equity in Carvana:

• Direct Holdings: 214,960 shares of Class A Common Stock.
• Indirect Holdings: 62,500 shares held through the James D. Quayle 2000 Irrevocable Trust.
• Combined Retained Holdings: 277,460 shares, representing an equity position valued at approximately $19.1 million at the transaction price.

Market Sentiment & Significance

The trading significance of this filing is categorized as Low. The transaction represents a classic cashless or same-day exercise-and-sell of legacy options nearing their expiration (granted in 2017 with expiration in 2027). Because the insider's baseline share ownership remained unchanged relative to pre-exercise levels, this transaction reflects personal liquidity and routine option monetization rather than a directional signal on Carvana's operational outlook.