Carvana VP of Accounting Stephen Palmer Sells Shares Under Rule 10b5-1 Plan

Insider Transaction Summary

On October 1, 2026, Carvana Co. ($CVNA) Vice President of Accounting Stephen R. Palmer reported dispositions totaling 8,021 shares of Class A Common Stock:

1. Tax Withholding (Code F): 3,021 shares withheld at $63.04 per share ($190,443.84) to cover tax obligations from vesting restricted stock units.
2. Open Market Sales (Code S): 5,000 shares sold across multiple price brackets ranging from $59.04 to $63.21 under a pre-established Rule 10b5-1 trading plan adopted on May 28, 2025:
   • 920 shares at an average of $59.48 ($54,721.60)
   • 840 shares at an average of $60.75 ($51,030.00)
   • 920 shares at an average of $61.64 ($56,708.80)
   • 2,320 shares at an average of $62.82 ($145,742.40)

Position & Impact

• Gross Proceeds from Sales: $308,202.80 (weighted average sale price of ~$61.64)
• Post-Transaction Holdings: 120,865 shares owned directly.
• Significance Evaluation: Low. The transaction was conducted pursuant to an affirmative Rule 10b5-1 trading plan established over a year prior and includes standard tax withholding on RSU settlements. The insider retains over 93% of their holdings following the disposition.