Carvana Director Ira J. Platt Exercises Options and Sells $2.15M in Class A Common Stock

Executive Summary

On November 3, 2026, Carvana Co. (NYSE: CVNA) Director Ira J. Platt executed options to purchase 30,000 shares of Class A Common Stock at $3.00 per share and subsequently sold all 30,000 shares on the open market in two 15,000-share tranches at weighted average prices of $71.32 and $72.16, generating total gross sale proceeds of approximately $2.15 million.

Transaction Breakdown

• Option Exercises (Code M): Exercised 30,000 options expiring April 27, 2027, with an exercise price of $3.00 per share for a total cost of $90,000.
• Open Market Dispositions (Code S):
  • 15,000 shares sold at a weighted average price of $71.32 ($1,069,800).
  • 15,000 shares sold at a weighted average price of $72.16 ($1,082,400).
• Net Proceeds (Pre-Tax): Approximately $2,062,200.

Post-Transaction Holdings

• Direct Ownership: 186,470 shares of Class A Common Stock.
• Indirect Ownership: 168,410 shares held across the Ira J. Platt Revocable Trust (102,125 shares), Georgiana Platt and Successors Remainder Trust (56,290 shares), and the Platt Family Foundation (9,995 shares).
• Derivative Holdings: 29,640 vested stock options remaining with an expiration date of April 27, 2027.

Market & Governance Context

This transaction represents an exercise and immediate sale of options approaching expiration within six months. Because it is an option exercise followed by an open-market sale rather than a sale of baseline direct equity, the signaling impact is considered neutral to moderately informational.