Carvana Director Ira J. Platt Exercises Options and Sells $2.25M in CVNA Stock

Executive Summary

On November 4, 2026, Carvana Co. Director Ira J. Platt exercised stock options to purchase 29,640 shares of Class A Common Stock at an exercise price of $3.00 per share and subsequently sold all 29,640 shares on the open market for a total of $2,245,154.40.

Transaction Breakdown

• Option Exercises (Code M):
  • 15,000 options exercised at $3.00 per share.
  • 14,640 options exercised at $3.00 per share.
  • Total exercise cost: $88,920.00.
• Open Market Sales (Code S):
  • 15,000 shares sold at a volume-weighted average price of $74.32 (range: $74.00–$74.59).
  • 14,640 shares sold at a volume-weighted average price of $77.21 (range: $77.15–$77.25).
  • Combined weighted average sale price: ~$75.75 per share.
  • Net gross profit (proceeds less exercise cost): ~$2,156,234.40.

Post-Transaction Holdings

Following the transactions:

• Direct Ownership: 186,470 shares of Class A Common Stock (unchanged from the start of the session, as the sales fully offset the newly acquired option shares).
• Indirect Ownership: 168,410 shares held across various family entities:
  • 102,125 shares via Ira J. Platt Revocable Trust
  • 56,290 shares via Georgiana Platt and Successors Remainder Trust
  • 9,995 shares via Platt Family Foundation
• Derivative Holdings: The option tranche expiring on April 27, 2027, has been fully exercised (0 options remaining in this series).

Market & Governance Context

This represents a routine cashless exercise and liquidity event ahead of option expiration. Platt retains a significant equity footprint in Carvana, maintaining direct and indirect beneficial ownership of over 354,800 shares.