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CARVANA CO.·4

Jun 3, 7:21 PM ET

JENKINS MARK W. 4

4 · CARVANA CO. · Filed Jun 3, 2026

Research Summary

AI-generated summary of this filing

Updated

Carvana (CVNA) CFO Mark Jenkins Sells Shares, Exercises Options

What Happened

  • Mark W. Jenkins, Chief Financial Officer of Carvana Co. (CVNA), exercised 63,750 options (50,000 @ $2.01; 10,000 @ $8.41; 3,750 @ $10.39) and sold shares on June 1, 2026. The exercise cost totaled $223,563. He sold 63,750 shares in open-market trades (24,259 @ $69.72; 36,986 @ $70.78; 2,505 @ $71.28) for total cash proceeds of $4,487,762. Additionally, 7,016 shares were withheld to cover taxes at $71.00 (value $498,136). Combined value associated with disposed shares is about $4.99 million.
  • Transaction types reported: M (option exercises), S (open-market sales), and F (shares withheld for taxes). Sales and exercises were largely simultaneous (shares exercised and sold), which is commonly a cash-out of option value rather than a new purchase.

Key Details

  • Transaction date: June 1, 2026; Form 4 filed June 3, 2026 (timely filing).
  • Option exercises: 50,000 @ $2.01 ($100,500); 10,000 @ $8.41 ($84,100); 3,750 @ $10.39 ($38,963). Total exercise cost $223,563.
  • Open-market sales: 24,259 @ $69.72 ($1,691,337); 36,986 @ $70.78 ($2,617,869); 2,505 @ $71.28 ($178,556). Tax-withheld shares: 7,016 @ $71.00 ($498,136).
  • Shares owned after the transactions: not specified in the provided filing excerpt.
  • Notable footnotes: 5-for-1 forward split applied to amounts (F2); sales executed under a Rule 10b5-1 trading plan adopted Aug 5, 2024 (F3); tax withholding on RSU vesting (F1); VWAP and price ranges disclosed for multi-trade executions (F4–F7); vesting schedules for the options noted (F8, F9).
  • Filing timeliness: Report filed within two business days of the transactions (no late filing flagged).

Context

  • The sequence (exercise of options immediately followed by sales) indicates a cash-out of option gains rather than an outright buy/hold. The filing shows the trades were effectuated under a pre-established 10b5-1 plan, which is a pre-planned trading arrangement that can reduce questions about contemporaneous insider timing.
  • Footnotes clarify the forward stock split and vesting schedules; the reported prices use volume-weighted averages and were executed across multiple trades at the ranges provided. This activity is routine executive monetization and does not by itself indicate a change in company outlook.

Insider Transaction Report

Form 4
Period: 2026-06-01
CARVANA CO.CVNA
JENKINS MARK W.
Chief Financial Officer
Transactions
  • Tax Payment

    Class A Common Stock

    [F1][F2]
    2026-06-01$71.00/sh−7,016$498,136→ 1,036,594 total
  • Exercise/Conversion

    Class A Common Stock

    [F3][F2]
    2026-06-01$2.01/sh+50,000$100,500→ 1,086,594 total
  • Exercise/Conversion

    Class A Common Stock

    [F3][F2]
    2026-06-01$8.41/sh+10,000$84,100→ 1,096,594 total
  • Exercise/Conversion

    Class A Common Stock

    [F3][F2]
    2026-06-01$10.39/sh+3,750$38,963→ 1,100,344 total
  • Sale

    Class A Common Stock

    [F3][F4][F5][F2]
    2026-06-01$69.72/sh−24,259$1,691,337→ 1,076,085 total
  • Sale

    Class A Common Stock

    [F3][F4][F6][F2]
    2026-06-01$70.78/sh−36,986$2,617,869→ 1,039,099 total
  • Sale

    Class A Common Stock

    [F3][F4][F7][F2]
    2026-06-01$71.28/sh−2,505$178,556→ 1,036,594 total
  • Exercise/Conversion

    Stock Options (Right to Buy)

    [F3][F8][F2]
    2026-06-01−50,000→ 592,565 total
    Exercise: $2.01From: 2024-04-01Exp: 2033-02-22→ Class A Common Stock (50,000 underlying)
  • Exercise/Conversion

    Stock Options (Right to Buy)

    [F3][F9][F2]
    2026-06-01−10,000→ 223,515 total
    Exercise: $8.41From: 2025-04-01Exp: 2034-01-24→ Class A Common Stock (10,000 underlying)
  • Exercise/Conversion

    Stock Options (Right to Buy)

    [F3][F9][F2]
    2026-06-01−3,750→ 85,480 total
    Exercise: $10.39From: 2025-04-01Exp: 2034-02-13→ Class A Common Stock (3,750 underlying)
Footnotes (9)
  • [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.
  • [F2]All amounts reflect the five for one forward stock split conducted by the issuer on May 7, 2026.
  • [F3]The reported option exercises and sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 5, 2024.
  • [F4]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.
  • [F5]This transaction was executed in multiple trades at prices ranging from $69.15 to $70.14 inclusive.
  • [F6]This transaction was executed in multiple trades at prices ranging from $70.15 to $71.15 inclusive.
  • [F7]This transaction was executed in multiple trades at prices ranging from $71.15 to $72.02 inclusive.
  • [F8]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.
  • [F9]The non-qualified stock options representing the right to purchase for the exercise price Class A Common Stock of the Issuer vests 25% on April 1, 2025 and monthly thereafter for the following three years, subject to the Reporting Person's continued service with the Issuer.
Signature
/s/ Paul Breaux, by Power of Attorney for Mark W. Jenkins|2026-06-03

Documents

1 file
  • 4
    wk-form4_1780528894.xmlPrimary

    FORM 4