Carvana CEO Ernest C. Garcia III Disposes Shares for Tax Withholding

Executive Summary

On November 3, 2026, Carvana Co. ($CVNA) Chief Executive Officer and 10% Owner Ernest C. Garcia III filed a Form 4 reporting the disposition of 7,072 shares of Class A Common Stock on November 1, 2026.

Transaction Details

• Nature of Transaction: The transaction was designated with Code 'F', indicating shares withheld by the issuer to satisfy tax withholding obligations triggered by the vesting of restricted stock units (RSUs).
• Volume & Price: 7,072 shares were withheld at an implied market price of $68.29 per share, totaling approximately $482,947.
• Holdings Post-Transaction: Following this transaction, Garcia directly retains 4,702,660 shares of Class A Common Stock. In addition, he indirectly controls 4,000,000 shares through trusts (2,250,000 shares via Ernest C. Garcia III Multi-Generational Trust III and 1,750,000 shares via Ernest Irrevocable 2004 Trust III).

Trading Significance

The trading significance of this event is rated as Low. Code F dispositions are non-discretionary, automated administrative actions to satisfy tax liabilities associated with equity compensation vesting events, rather than an open-market sale reflecting sentiment on the company's valuation.