GARCIA ERNEST C. III 4
4 · CARVANA CO. · Filed Jun 3, 2026
Research Summary
AI-generated summary of this filing
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.
Insider Transaction Report
- Tax Payment
Class A Common Stock
[F1][F2]2026-06-01$71.00/sh−7,067$501,757→ 4,603,303 total
- 2,250,000(indirect: By Trust)
Class A Common Stock
[F2][F3] - 1,750,000(indirect: By Trust)
Class A Common Stock
[F2][F4]
Footnotes (4)
- [F1]Represents total number of shares of Class A Common Stock of the Issuer withheld for taxes upon vesting of restricted stock units pursuant to various awards.
- [F2]All amounts reflect the five for one forward stock split conducted by the issuer on May 7, 2026.
- [F3]These shares of Class A common stock are held directly by the Ernest C. Garcia III Multi-Generational Trust III (the "Multi-Generational Trust"). The Reporting Person is the Investment Trustee and Co-Administrative Trustee of the Multi-Generational Trust.
- [F4]These shares of Class A common stock are held directly by the Ernest Irrevocable 2004 Trust III (the "Irrevocable Trust"). The Reporting Person is the Investment Trustee and Co-Administrative Trustee of the Irrevocable Trust.