JENKINS MARK W. 4

What Happened

• Mark W. Jenkins, Chief Financial Officer of Carvana (CVNA), exercised 12,750 stock options on Feb 2, 2026 (10,000 @ $10.07; 2,000 @ $42.03; 750 @ $51.97 — total exercise cost ~$223,738) and sold those shares the same day in multiple open‑market trades for roughly $5.72 million.
• On Feb 1, 2026 he also had 1,219 shares withheld/surrendered to cover taxes on vested restricted stock units (payment of tax liability) for $488,953. Several exercise/conversion entries also appear as $0 disposals reflecting the mechanics of the option-to-share conversions.

Key Details

• Transaction dates: Feb 1–2, 2026. Sales executed in multiple trades across the Feb 2 trading session (see footnotes for price ranges). Volume‑weighted proceeds from open‑market sales and tax withholding ≈ $5,718,830.
• Options exercised: 10,000 @ $10.07; 2,000 @ $42.03; 750 @ $51.97 (total paid ≈ $223,738).
• Shares sold in open market: 12,750 shares (multiple trades, prices ranged roughly $393–$418 per share across trades; see filing footnotes for exact ranges).
• Tax withholding: 1,219 shares surrendered to cover taxes on RSUs (F1). Proceeds shown for that withholding ≈ $488,953.
• Footnotes: Transactions were effected pursuant to a Rule 10b5‑1 trading plan adopted Aug 5, 2024 (F2). Vesting schedules for the options are noted in the filing (F22, F23). Multiple trade price ranges are detailed in footnotes F3–F21.
• Shares owned after transaction: Not specified in the data you provided; consult the full Form 4 filing for post‑trade beneficial ownership.
• Filing timeliness: Form filed Feb 3, 2026 for trades on Feb 1–2, 2026 — no late‑filing flag provided in your summary.

Context

• This was an exercise of non‑qualified stock options followed by immediate open‑market sales (common "exercise and sell" behavior). The 10b5‑1 plan note indicates the sales were executed under a prearranged trading plan, which is routinely used to avoid trading while in possession of material nonpublic information.
• For retail investors: purchases (buys) are generally more bullish signals than routine exercises followed by sales; here, Jenkins converted options to shares and monetized them, while also satisfying tax obligations on vested RSUs.