GARCIA ERNEST C. III 4

What Happened

• Ernest C. Garcia III, CEO of Carvana (CVNA), had 1,229 shares of Class A common stock withheld to cover taxes upon the vesting of restricted stock units. The withholding is reported as a disposition at $334.16 per share, totaling $410,683. This transaction is a tax-withholding event (transaction code F), not an open-market sale aimed at taking profits.

Key Details

• Transaction date: March 1, 2026; Filing date: March 3, 2026.
• Price per share: $334.16; Shares withheld/disposed: 1,229; Total value: $410,682.64 (reported as $410,683).
• Transaction code: F — shares withheld to satisfy tax withholding obligations upon RSU vesting.
• Shares owned after transaction: Not specified in the filing.
• Relevant footnotes: F1 confirms these shares were withheld for taxes on RSU vesting. F2 and F3 note some Class A shares are held in trusts (Ernest C. Garcia III Multi-Generational Trust III and Ernest Irrevocable 2004 Trust III) for which Garcia is Investment Trustee/Co-Administrative Trustee.

Context

• Tax-withholding dispositions are routine when restricted stock units vest; the company typically retains or cancels shares to cover tax liabilities. These actions generally don't indicate a change in the insider's market view.