Carvana CEO Ernest C. Garcia III Withholds 7,067 Shares for Taxes

What Happened Ernest C. Garcia III, CEO of Carvana Co. (CVNA), had 7,067 shares of Class A common stock withheld on June 1, 2026 to satisfy tax withholding related to vested restricted stock units (RSUs). The withholding was at $71.00 per share, representing a value of $501,757. This was a tax-withholding disposition (routine) rather than an open-market sale.

Key Details

• Transaction date and price: June 1, 2026 — 7,067 shares withheld at $71.00 per share (total ~$501,757).
• Transaction type/code: F — shares withheld for taxes upon RSU vesting (cashless/tax withholding).
• Shares owned after transaction: Not reported in the provided filing excerpt.
• Filing: Reported on Form 4 filed June 3, 2026 (appears timely).
• Notable footnotes:
  • F1: Withholding represents shares surrendered to cover taxes on vested RSUs.
  • F2: All amounts reflect a 5-for-1 forward stock split conducted May 7, 2026.
  • F3–F4: Some Class A shares are held directly by trusts (Ernest C. Garcia III Multi-Generational Trust III and Ernest Irrevocable 2004 Trust III); the reporting person is a trustee for those trusts.

Context Tax-withholding dispositions when RSUs vest are common and generally routine administrative actions, not direct indicators of insider sentiment. The filing shows a cashless withholding to cover tax liability rather than a voluntary sale in the market.