GARCIA ERNEST C. III 4

What Happened
Ernest C. Garcia III, CEO of Carvana Co. (CVNA), had 7,072 shares of Class A common stock withheld to satisfy tax liabilities related to the vesting of restricted stock units. The shares were disposed at an effective price of $67.87 per share, for a total value of approximately $479,977. This transaction is recorded under code F (tax withholding), not as an open-market sale.

Key Details

• Transaction date: 2026-07-01; Filing date: 2026-07-02 (timely filing).
• Shares withheld/disposed: 7,072 at $67.87 each; total ≈ $479,977.
• Transaction code: F — represents shares withheld to cover taxes upon RSU vesting (per footnote F1).
• Shares owned after the transaction: not disclosed in the provided excerpt.
• Footnotes: F2 and F3 note other Class A shares are held by trusts (Ernest C. Garcia III Multi-Generational Trust III and the Ernest Irrevocable 2004 Trust III), for which Mr. Garcia is trustee/co-administrator.

Context
Code F (tax withholding) typically reflects a routine surrender of shares to cover withholding obligations when restricted stock units vest; it is not the same as an open-market sale and does not necessarily indicate a change in the insider’s view of the company.