PLATT IRA J. 4

What Happened Ira J. Platt, a director of Carvana Co. (CVNA), exercised stock options on March 12, 2026 to acquire 10,000 shares of Class A common stock at an exercise price of $15.00 per share, a transaction with a cash cost of $150,000. The Form 4 also reports transfer/distribution activity tied to a family member’s estate: 850 shares were distributed from an account of a deceased family member and 425 of those shares were allocated to the Ira J. Platt Revocable Trust. The filing additionally reports a derivative disposition of 10,000 shares reported at $0 (listed as a derivative transaction).

Key Details

• Transaction date: 2026-03-12; Form 4 filed: 2026-03-16 (filed within SEC two-business-day window).
• Exercise: 10,000 shares acquired at $15.00 each = $150,000 total cash paid.
• Derivative disposition: 10,000 shares reported disposed at $0 (listed as a derivative transaction in the filing).
• Estate/transfer activity: 850 shares distributed from the reporting person’s parent’s account due to death; 425 of those shares were distributed to the Ira J. Platt Revocable Trust (per footnote F1).
• Holdings after transaction: not specified in the provided data (see the Form 4 for complete post-transaction holdings).
• Footnotes of note:
  • F1–F4 describe multiple trust/foundation relationships (Revocable Trust, Settlers Trust, Platt Family Foundation) and the reporting person’s trustee/beneficiary roles and limited beneficial interest/disclaimer.
  • F5 notes the non-qualified options vested in three equal annual installments beginning April 27, 2018.

Context

• The primary action was an option exercise (code M). Option exercises represent acquisition of shares by paying the exercise price; they do not by themselves indicate a bullish or bearish view unless shares are later sold.
• The estate/transfer entries reflect inheritance and intra-family trust allocations and are administrative in nature rather than open-market purchases or sales.
• The reported derivative disposition at $0 may reflect part of the option exercise/settlement mechanics reported on the Form 4; the filing does not provide additional detail about sale proceeds or withholding related to the exercise.