Carvana CEO Ernest C. Garcia III Surrenders 7,070 Shares for Taxes

What Happened
Ernest C. Garcia III, CEO of Carvana (CVNA), surrendered 7,070 shares of Class A common stock on 2026-09-01 to satisfy tax withholding obligations tied to vested restricted stock units (RSUs). The shares are reported at $72.18 each, with a gross value of approximately $510,313. This was a tax-withholding/settlement transaction (code F), not an open-market sale intended as an investment decision.

Key Details

• Transaction date: 2026-09-01; Filing date: 2026-09-03 (filed two days after the transaction, generally within Form 4 timing rules).
• Shares involved: 7,070 shares withheld; price reported: $72.18; total value: ~$510,313.
• Transaction code: F — shares withheld/used to pay tax liability upon RSU vesting.
• Shares owned after the transaction: not specified in the provided filing excerpt.
• Notable footnotes:
  • F1: Shares withheld were for taxes upon vesting of restricted stock units.
  • F2/F3: Separate holdings referenced are held by two trusts (Ernest C. Garcia III Multi‑Generational Trust III and Ernest Irrevocable 2004 Trust III), for which Garcia serves as Investment Trustee and Co‑Administrative Trustee.

Context
Tax-withholding events (F) are routine administrative transactions that occur when restricted stock units vest and taxes are paid by surrendering or selling shares. They do not necessarily indicate the insider is reducing overall exposure or expressing a view on the company’s prospects.