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CARVANA CO.·4

Jul 2, 5:23 PM ET

JENKINS MARK W. 4

4 · CARVANA CO. · Filed Jul 2, 2026

Research Summary

AI-generated summary of this filing

Updated

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

What Happened

  • Mark W. Jenkins, Chief Financial Officer of Carvana Co. (CVNA), exercised a total of 63,750 non-qualified stock options (50,000 @ $2.01; 10,000 @ $8.41; 3,750 @ $10.39), paying about $223,563 in exercise price. He then sold the 63,750 shares in multiple open-market trades, generating gross proceeds of approximately $4,356,987. Separately, 7,014 shares were surrendered/withheld to cover taxes on vested restricted stock units, valued at about $476,040.

Key Details

  • Transaction date: July 1, 2026; Form 4 filed July 2, 2026 (timely).
  • Options exercised: 63,750 shares (exercise cost ≈ $223,563).
  • Open-market sales: 63,750 shares sold in multiple trades for total proceeds ≈ $4,356,987 (VWAPs reported by tranche: $65.18, $66.07, $67.49, $68.14, $69.22, $70.43).
  • Tax withholding: 7,014 RSU shares withheld for taxes valued ≈ $476,040.
  • Plan/authorization notes: Sales were effected under a Rule 10b5-1 plan adopted Aug 5, 2024 (F2). Price reporting reflects volume-weighted averages and multiple trade ranges (F3–F9). Option vesting schedule referenced in footnotes (25% vesting April 1 of prior years, then monthly; F10–F11).
  • Shares owned after transaction: Not specified in the filing.

Context

  • This was an exercise of vested non-qualified stock options followed by immediate open-market sales of the resulting shares (i.e., he exercised options and sold those shares). The 10b5-1 plan disclosure indicates the sales were pre-planned and routine rather than opportunistic market timing. The RSU withholding is a tax-related surrender of shares, not a market sale by the insider.

Insider Transaction Report

Form 4
Period: 2026-07-01
CARVANA CO.CVNA
JENKINS MARK W.
Chief Financial Officer
Transactions
  • Tax Payment

    Class A Common Stock

    [F1]
    2026-07-01$67.87/sh−7,014$476,040→ 1,029,580 total
  • Exercise/Conversion

    Class A Common Stock

    [F2]
    2026-07-01$2.01/sh+50,000$100,500→ 1,079,580 total
  • Exercise/Conversion

    Class A Common Stock

    [F2]
    2026-07-01$8.41/sh+10,000$84,100→ 1,089,580 total
  • Exercise/Conversion

    Class A Common Stock

    [F2]
    2026-07-01$10.39/sh+3,750$38,963→ 1,093,330 total
  • Sale

    Class A Common Stock

    [F2][F3][F4]
    2026-07-01$65.18/sh−6,710$437,358→ 1,086,620 total
  • Sale

    Class A Common Stock

    [F2][F3][F5]
    2026-07-01$66.07/sh−4,560$301,279→ 1,082,060 total
  • Sale

    Class A Common Stock

    [F2][F3][F6]
    2026-07-01$67.49/sh−5,960$402,240→ 1,076,100 total
  • Sale

    Class A Common Stock

    [F2][F3][F7]
    2026-07-01$68.14/sh−21,130$1,439,798→ 1,054,970 total
  • Sale

    Class A Common Stock

    [F2][F3][F8]
    2026-07-01$69.22/sh−9,840$681,125→ 1,045,130 total
  • Sale

    Class A Common Stock

    [F2][F3][F9]
    2026-07-01$70.43/sh−15,550$1,095,187→ 1,029,580 total
  • Exercise/Conversion

    Stock Options (Right to Buy)

    [F2][F10]
    2026-07-01−50,000→ 542,565 total
    Exercise: $2.01From: 2024-04-01Exp: 2033-02-22→ Class A Common Stock (50,000 underlying)
  • Exercise/Conversion

    Stock Options (Right to Buy)

    [F2][F11]
    2026-07-01−10,000→ 213,515 total
    Exercise: $8.41From: 2025-04-01Exp: 2034-01-24→ Class A Common Stock (10,000 underlying)
  • Exercise/Conversion

    Stock Options (Right to Buy)

    [F2][F11]
    2026-07-01−3,750→ 81,730 total
    Exercise: $10.39From: 2025-04-01Exp: 2034-02-13→ Class A Common Stock (3,750 underlying)
Footnotes (11)
  • [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]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.
  • [F11]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, 2025 and monthly thereafter for the following three years, subject to the Reporting Person's continued service with the Issuer.
  • [F2]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.
  • [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 $64.73 to $65.70 inclusive.
  • [F5]This transaction was executed in multiple trades at prices ranging from $65.73 to $66.65 inclusive.
  • [F6]This transaction was executed in multiple trades at prices ranging from $66.76 to $67.75 inclusive.
  • [F7]This transaction was executed in multiple trades at prices ranging from $67.76 to $68.75 inclusive.
  • [F8]This transaction was executed in multiple trades at prices ranging from $68.76 to $69.75 inclusive.
  • [F9]This transaction was executed in multiple trades at prices ranging from $69.76 to $70.72 inclusive.
Signature
/s/ Paul Breaux, by Power of Attorney for Mark W. Jenkins|2026-07-02

Documents

1 file
  • 4
    wk-form4_1783027387.xmlPrimary

    FORM 4