Carvana (CVNA) CFO Mark W. Jenkins Sells Shares & Exercises Options

What Happened

• Mark W. Jenkins, Chief Financial Officer of Carvana Co. (CVNA), reported multiple transactions on Aug 1–3, 2026. He sold a total of 70,768 shares (63,750 open-market sale shares + 7,018 shares withheld for taxes on vesting) generating about $4.55 million overall ($4.11M from open-market sales and $437.6K withheld for taxes).
• At the same time he acquired shares by exercising options (50,000 shares at $2.01 for $100,500; 10,000 shares at $8.41 for $84,100; 3,750 shares at $10.39 for $38,963) and was granted 133,972 restricted stock units (RSUs) reported at $0 (these RSUs are subject to future vesting per the filing).

Key Details

• Transaction dates: Aug 1, 2026 (tax withholding on RSU vesting) and Aug 3, 2026 (option exercises, RSU grant, and open-market sales).
• Prices and amounts:
  • Open-market sales: 7,940 shares @ $63.17 (VWAP), 24,287 @ $64.08, 22,886 @ $64.93, 8,637 @ $65.75 — total open-market proceeds ≈ $4,111,752. (Multiple trades executed across price ranges; see footnotes.)
  • Tax withholding: 7,018 shares withheld @ $62.36 = $437,642.
  • Option exercises: 50,000 @ $2.01 ($100,500), 10,000 @ $8.41 ($84,100), 3,750 @ $10.39 ($38,963).
  • Grant: 133,972 RSUs @ $0 (subject to vesting).
• Shares owned after the transactions: not specified in the provided excerpt of the filing.
• Notable footnotes: sales were effected pursuant to a Rule 10b5-1 trading plan (F3); VWAP and multiple-trade price ranges are reported (F4–F8); RSU grant and option vesting schedules are described (F2, F9, F10).
• Filing timeliness: Reported on Aug 4, 2026 for transactions on Aug 1–3, 2026 — the filing appears timely.

Context

• The filing shows option exercises (code M) at low exercise prices and subsequent open-market sales (code S). The presence of a Rule 10b5-1 plan indicates the sales were made under a pre-arranged trading plan rather than ad hoc market timing.
• The 133,972 RSUs reported as an acquisition are subject to future vesting (per footnote) and are not immediately vested, so they do not necessarily reflect immediate cash value or free shares.
• These are insider transactions by an executive (not a 10% owner). Sales are often routine (tax withholding, plan-based selling), while option exercises + RSU grants are equity compensation events; avoid interpreting these as buy/sell signals without additional context.