Carvana CFO Mark W. Jenkins Exercises Options & Sells $4.58M in Class A Shares Under 10b5-1 Plan

Executive Summary

On November 3, 2026, Carvana Co. ($CVNA) Chief Financial Officer Mark W. Jenkins reported the exercise of 63,750 stock options and the corresponding sale of 63,750 Class A Common shares on November 2, 2026, generating approximately $4.58 million in gross proceeds. Additionally, 7,016 shares were withheld on November 1, 2026, to cover tax obligations from vested restricted stock units.

Transaction Breakdown

• Tax Withholding (Code F): 7,016 shares withheld at $68.29 per share ($479,122.64) on November 1, 2026.
• Option Exercises (Code M):
  • 50,000 options exercised at $2.01 per share.
  • 10,000 options exercised at $8.41 per share.
  • 3,750 options exercised at $10.39 per share.
  • Total exercise cost: $223,562.50.
• Open Market Sales (Code S):
  • 700 shares sold at a weighted average price of $69.53.
  • 21,399 shares sold at a weighted average price of $71.15.
  • 32,251 shares sold at a weighted average price of $71.92.
  • 9,400 shares sold at a weighted average price of $72.87.
  • Total shares sold: 63,750 for gross proceeds of $4,575,679.77 (net proceeds before taxes/fees: ~$4.35 million).

Plan & Governance Context

All option exercises and open market sales were executed pursuant to a pre-arranged Rule 10b5-1 trading plan adopted by Jenkins on August 5, 2024. Because the shares sold directly matched the shares acquired via option exercise, the executive's core common stock holding remained unchanged from post-vesting levels at 1,135,486 shares.