DDFS Partnership LP 4
4 · CARVANA CO. · Filed Sep 12, 2018
Insider Transaction Report
Form 4
CARVANA CO.CVNA
DDFS Partnership LP
10% Owner
Transactions
- Conversion
Class A ConvertiblePreferred Stock
2018-09-10−5,000→ 95,000 total(indirect: See Footnotes)Exercise: $19.69→ Class A Common Stock (253,877 underlying) - Other
Class A Common Stock
2018-09-10$19.69/sh+253,877$4,998,838→ 253,877 total(indirect: See Footnotes) - Sale
Class A Common Stock
2018-09-11$69.30/sh−253,877$17,593,676→ 0 total(indirect: See Footnotes)
Footnotes (5)
- [F1]The Class A Convertible Preferred Stock, par value $0.01 per share of the Company ("Preferred Stock") is convertible at the option of the holders at any time into shares of the Company's Class A Common Stock, par value $0.001 per share ("Common Stock") at an initial conversion rate of 50.78 shares of Common Stock for each share of Preferred Stock, which represents an initial conversion price of approximately $19.6945 per share of Common Stock, subject to anti-dilution and other adjustment.
- [F2]The Reporting Persons exercised their option to convert 5,000 shares of Preferred Stock into 253,877 shares of Common Stock on September 10, 2018.
- [F3]Reflects securities directly held by DDFS Partnership LP, a Delaware limited partnership ("DDFS"). DDFS Management Company LLC, a Delaware limited liability company ("DMC"), is the sole general partner of DDFS and holds a 1% general interest in DDFS. Thomas G. Dundon directly holds 100% of the membership interests in DMC.
- [F4]Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Person's pecuniary interest therein. The filing of this statement shall not be deemed to be an admission that, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise, the Reporting Persons are the beneficial owners of any securities reported herein.
- [F5]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $65.92 to $71.24, inclusive.