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CARVANA CO.·4

Feb 3, 5:45 PM ET

HUSTON BENJAMIN E. 4

4 · CARVANA CO. · Filed Feb 3, 2026

Research Summary

AI-generated summary of this filing

Updated

Carvana (CVNA) COO Benjamin Huston Exercises Options and Sells Shares

What Happened
Benjamin E. Huston, COO of Carvana (CVNA), exercised stock options and sold shares in early February 2026. On Feb 2 he exercised 10,000 options at $10.07/share (cost ≈ $100,700) and sold 10,000 shares in multiple open‑market trades that day for about $4.11M. Separately, on Feb 1, 1,219 shares were withheld to cover taxes on vested restricted stock units (withholding proceeds ≈ $488,953). Total proceeds from disclosed sales ≈ $4.60M. The filing also reports a related derivative conversion of 10,000 shares reported at $0.00 (non‑cash reporting item).

Key Details

  • Transaction dates: Feb 1, 2026 (tax withholding) and Feb 2, 2026 (option exercise and open‑market sales). Filing date: Feb 3, 2026.
  • Sales: 10,000 shares sold on Feb 2 across many trades (proceeds ≈ $4,112,739) + 1,219 shares withheld on Feb 1 for taxes (proceeds ≈ $488,953) = ≈ 11,219 shares sold/withheld for ≈ $4.60M.
  • Option exercise: 10,000 shares exercised at $10.07 ($100,700 cash paid). A related derivative line reports 10,000 shares at $0.00 (non‑cash reporting).
  • Shares owned after transaction: Not specified in the filing.
  • Notable footnotes: Sales/exercises were effected pursuant to a Rule 10b5‑1 trading plan (F2); the 1,219 share disposition was tax withholding on RSU vesting (F1); option vesting schedule noted (F21). Multiple footnotes list trade price ranges and VWAP reporting where applicable.
  • Timeliness: Filed Feb 3 covering Feb 1–2 activity; appears to be a timely Form 4 filing.

Context

  • The combination of exercising options at a low exercise price ($10.07) and selling shares at ~$394–$418 range indicates a routine exercise + sale (often used to cover taxes, exercise costs, or diversify). The filing’s 10b5‑1 note indicates the sales were planned under an automatic trading plan.
  • The $0.00 derivative line likely reflects non‑cash reporting treatment of option conversion/settlement and should be read as part of the exercise/settlement mechanics, not an independent $0 sale.
  • As with all insider filings, these are factual disclosures of transactions — they do not, by themselves, indicate the insider’s view of the company beyond the trades reported.

Insider Transaction Report

Form 4
Period: 2026-02-01
CARVANA CO.CVNA
HUSTON BENJAMIN E.
Chief Operating Officer
Transactions
  • Tax Payment

    Class A Common Stock

    [F1]
    2026-02-01$401.11/sh−1,219$488,953→ 98,652 total
  • Exercise/Conversion

    Class A Common Stock

    [F2]
    2026-02-02$10.07/sh+10,000$100,700→ 108,652 total
  • Sale

    Class A Common Stock

    [F2]
    2026-02-02$394.05/sh−80$31,524→ 108,572 total
  • Sale

    Class A Common Stock

    [F2][F3][F4]
    2026-02-02$396.22/sh−80$31,698→ 108,492 total
  • Sale

    Class A Common Stock

    [F2][F3][F5]
    2026-02-02$397.66/sh−200$79,532→ 108,292 total
  • Sale

    Class A Common Stock

    [F2][F3][F6]
    2026-02-02$399.14/sh−200$79,828→ 108,092 total
  • Sale

    Class A Common Stock

    [F2]
    2026-02-02$400.08/sh−80$32,006→ 108,012 total
  • Sale

    Class A Common Stock

    [F2]
    2026-02-02$402.54/sh−40$16,102→ 107,972 total
  • Sale

    Class A Common Stock

    [F2][F3][F7]
    2026-02-02$403.89/sh−80$32,311→ 107,892 total
  • Sale

    Class A Common Stock

    [F2][F3][F8]
    2026-02-02$405.01/sh−80$32,401→ 107,812 total
  • Sale

    Class A Common Stock

    [F2][F3][F9]
    2026-02-02$406.67/sh−280$113,868→ 107,532 total
  • Sale

    Class A Common Stock

    [F2][F3][F10]
    2026-02-02$407.90/sh−1,426$581,665→ 106,106 total
  • Sale

    Class A Common Stock

    [F2][F3][F11]
    2026-02-02$408.83/sh−742$303,352→ 105,364 total
  • Sale

    Class A Common Stock

    [F2][F3][F12]
    2026-02-02$409.82/sh−440$180,321→ 104,924 total
  • Sale

    Class A Common Stock

    [F2][F3][F13]
    2026-02-02$410.91/sh−864$355,026→ 104,060 total
  • Sale

    Class A Common Stock

    [F2][F3][F14]
    2026-02-02$411.95/sh−976$402,063→ 103,084 total
  • Sale

    Class A Common Stock

    [F2][F3][F15]
    2026-02-02$412.88/sh−640$264,243→ 102,444 total
  • Sale

    Class A Common Stock

    [F2][F3][F16]
    2026-02-02$414.01/sh−827$342,386→ 101,617 total
  • Sale

    Class A Common Stock

    [F2][F3][F17]
    2026-02-02$415.09/sh−960$398,486→ 100,657 total
  • Sale

    Class A Common Stock

    [F2][F3][F18]
    2026-02-02$416.08/sh−842$350,339→ 99,815 total
  • Sale

    Class A Common Stock

    [F2][F3][F19]
    2026-02-02$416.93/sh−522$217,637→ 99,293 total
  • Sale

    Class A Common Stock

    [F2][F3][F20]
    2026-02-02$418.02/sh−641$267,951→ 98,652 total
  • Exercise/Conversion

    Stock Options (Right to Buy)

    [F2][F21]
    2026-02-02−10,000→ 328,513 total
    Exercise: $10.07From: 2024-04-01Exp: 2033-02-22→ Class A Common Stock (10,000 underlying)
Footnotes (21)
  • [F1]Represents total number of shares of Class A Common Stock of the Issuer withheld for taxes upon vesting of restricted stock units pursuant to various awards.
  • [F10]This transaction was executed in multiple trades at prices ranging from $407.41 to $408.38 inclusive.
  • [F11]This transaction was executed in multiple trades at prices ranging from $408.43 to $409.21, inclusive.
  • [F12]This transaction was executed in multiple trades at prices ranging from $409.44 to $410.36, inclusive.
  • [F13]This transaction was executed in multiple trades at prices ranging from $410.46 to $411.45, inclusive.
  • [F14]This transaction was executed in multiple trades at prices ranging from $411.47 to $412.45, inclusive.
  • [F15]This transaction was executed in multiple trades at prices ranging from $412.48 to $413.43, inclusive.
  • [F16]This transaction was executed in multiple trades at prices ranging from $413.52 to $414.45, inclusive.
  • [F17]This transaction was executed in multiple trades at prices ranging from $414.56 to $415.54, inclusive.
  • [F18]This transaction was executed in multiple trades at prices ranging from $415.56 to $416.55, inclusive.
  • [F19]This transaction was executed in multiple trades at prices ranging from $416.56 to $417.45, inclusive.
  • [F2]The reported option exercises and sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 13, 2024 (the "10b5-1 Plan").
  • [F20]This transaction was executed in multiple trades at prices ranging from $417.61 to $418.50, inclusive.
  • [F21]The non-qualified stock options representing the right to purchase for the exercise price Class A Common Stock of the Issuer vested 25% on April 1, 2024 and monthly thereafter for the following three years, subject to the Reporting Person's continued service with the Issuer.
  • [F3]The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.
  • [F4]This transaction was executed in multiple trades at prices ranging from $396.10 to $396.33, inclusive.
  • [F5]This transaction was executed in multiple trades at prices ranging from $397.50 to $398.05 inclusive.
  • [F6]This transaction was executed in multiple trades at prices ranging from $398.59 to $399.55, inclusive.
  • [F7]This transaction was executed in multiple trades at prices ranging from $403.66 to $404.12, inclusive.
  • [F8]This transaction was executed in multiple trades at prices ranging from $404.82 to $405.20, inclusive.
  • [F9]This transaction was executed in multiple trades at prices ranging from $406.37 to $407.10, inclusive.
Signature
/s/ Paul Breaux, by Power of Attorney for Benjamin E. Huston|2026-02-03

Documents

1 file
  • 4
    wk-form4_1770158754.xmlPrimary

    FORM 4