Carvana Co.: CFO Mark W. Jenkins sold 63,750 shares

What happened

• Mark W. Jenkins, chief financial officer, reported multiple transactions on Oct 1, 2026, including option exercises, tax-withheld share withholding and open-market sales.
• He exercised options that resulted in acquisition of 50,000 shares at $2.01 for $100,500, 10,000 shares at $8.41 for $84,100, and 3,750 shares at $10.39 for $38,963.
• He sold 63,750 shares in open-market or private sales at reported volume-weighted prices, totaling $3,929,788 (sales: 10,440 shares at $59.44 for $620,554; 9,362 shares at $60.60 for $567,337; 13,318 shares at $61.47 for $818,657; 24,761 shares at $62.73 for $1,553,258; 5,869 shares at $63.04 for $369,982).
• The filing also shows 7,016 shares withheld for taxes upon vesting of restricted stock units for $442,289, and derivative disposals of 50,000, 10,000 and 3,750 shares reported at $0 (related to the exercised options).

Key details

• Transaction date: Oct 1, 2026. Filing date: Oct 5, 2026.
• Prices and totals: see above; sales total $3,929,788; tax withholding $442,289; option exercise payments $100,500, $84,100 and $38,963.
• Shares owned after the transaction: not reported in the information provided in this Form 4.
• Relevant footnotes from the filing:
  • F1: 7,016 shares withheld for taxes upon vesting of restricted stock units.
  • F2: the option exercises and sales were effected pursuant to a Rule 10b5-1 trading plan adopted Aug 5, 2024.
  • F3: reported sale prices reflect volume-weighted average sale price; full breakdown available upon request.
  • F4–F8: individual sale transactions were executed in multiple trades at price ranges $58.98–$63.21.
  • F9 and F10: vesting schedules for the non-qualified stock options (25% vesting on Apr 1, 2024 or Apr 1, 2025 and monthly thereafter, per the footnotes).
• The Form 4 does not indicate that the filing was late in the information provided.

Why it may matter

• The filing shows option exercises (code M) and associated disposals reported the same day, consistent with exercised options followed by disposition; the filing data indicate net/related sales alongside exercises (cashless/net settlement style).
• The reported open-market sales (code S) were executed under a Rule 10b5-1 trading plan (F2).
• The withholding of shares for taxes (code F) reflects vesting-related tax payment (F1).
• A filing does not show why the insider traded or why the company acted.