GARCIA ERNEST C. III 4

What Happened
Ernest C. Garcia III, CEO of Carvana (CVNA), had 4,537 shares of Class A common stock withheld to satisfy tax obligations upon vesting of restricted stock units (RSUs). The withholding was recorded at a price of $312.09 per share, totaling $1,415,952 (cashless/tax withholding disposition, transaction code F).

Key Details

• Transaction date: April 1, 2026; Form 4 filed April 3, 2026.
• Price and value: 4,537 shares × $312.09 = $1,415,952 (withheld for taxes).
• Shares owned after transaction: Not specified in the Form 4.
• Footnotes: F1 confirms these shares were withheld to cover taxes on RSU vesting. F2 and F3 note some Class A shares are held by two trusts (Ernest C. Garcia III Multi‑Generational Trust III and Ernest Irrevocable 2004 Trust III), for which Garcia is Investment Trustee and Co‑Administrative Trustee.
• Filing timeliness: Form shows reporting within days of the transaction; no late filing indicated.

Context
A tax-withholding withholding (F) on vested RSUs is a routine, non‑market sale transaction used to meet tax obligations and does not necessarily indicate a change in the insider’s view of the company. This is not an open‑market sale or a purchase; it’s a cashless settlement of tax liability tied to compensation.