Carvana (CVNA) Director Quayle Danforth Exercises Options, Sells Shares

What Happened
Quayle J. Danforth, a director of Carvana Co. (CVNA), exercised 14,525 non‑qualified stock options at $3.00 per share (cost $43,575) and immediately sold those 14,525 shares in the open market at $75.00 per share for gross proceeds of $1,089,375 on August 14, 2026. The Form 4 also reports the conversion/disposition of the related derivative instrument (reported at $0), reflecting the option exercise and share sale.

Key Details

• Transaction date: August 14, 2026.
• Option exercise: 14,525 shares @ $3.00 = $43,575 (cash paid to exercise).
• Open‑market sale: 14,525 shares @ $75.00 = $1,089,375 (gross proceeds).
• Derivative conversion: 14,525 shares reported disposed at $0 (reporting of option conversion).
• Share ownership after transaction: Not specified in this filing.
• Footnotes: Transactions were executed pursuant to a Rule 10b5‑1 trading plan adopted March 11, 2026. The options vested over time (25% on April 27, 2018 and monthly thereafter).
• Filing timeliness: Filed August 17, 2026; within the SEC’s two business‑day Form 4 deadline for an August 14 transaction.

Context
This was an exercise of vested stock options followed by an immediate sale of the resulting shares (an exercise‑and‑sell), executed under a pre‑arranged 10b5‑1 plan. Such transactions are commonly routine liquidity events governed by a trading plan and do not, by themselves, indicate management’s view of the company’s prospects.