Carvana CEO Ernest Garcia III Reports Tax Withholding Transaction (Code F)

Insider Filing Analysis: Carvana Co. (NYSE: CVNA)

Executive Summary

On September 3, 2026, Carvana Co. filed a Form 4 on behalf of Chief Executive Officer, Director, and 10% Owner Ernest C. Garcia III. The filing details the disposition of 7,070 shares of Class A Common Stock on September 1, 2026, at a price of $72.18 per share, totaling $510,312.60.

Transaction Details

• Nature of Transaction: The shares were withheld by the issuer to satisfy tax withholding obligations upon the vesting of restricted stock units (RSUs) pursuant to existing awards (Transaction Code: F).
• Ownership Post-Transaction:
  • Direct Ownership: 4,716,799 shares of Class A Common Stock.
  • Indirect Ownership:
    • 2,250,000 shares held by the Ernest C. Garcia III Multi-Generational Trust III.
    • 1,750,000 shares held by the Ernest Irrevocable 2004 Trust III.
  • Total Beneficial Ownership: 8,716,799 Class A shares.

Market Impact & Trading Significance

• Significance Level: Low
• Context: This is a routine, non-discretionary transaction commonly executed to meet mandatory statutory tax obligations arising from equity vesting. It does not represent open-market selling or a change in the executive's fundamental sentiment regarding Carvana's business outlook.