Palmer Stephen R 4

What Happened
Stephen R. Palmer, Vice President of Accounting at Carvana (CVNA), disposed of a total of 8,021 shares on July 1, 2026, for aggregate proceeds of approximately $547,667. The activity consisted of 3,021 shares withheld to cover taxes upon RSU vesting (cashless withholding) at a VWAP of $67.87 (~$205,035) and seven open-market sales totaling 5,000 shares executed under a previously adopted Rule 10b5-1 plan (May 28, 2025) at volume-weighted average prices ranging from ~$65.13 to ~$70.52 for the different sale blocks (aggregate proceeds ~ $342,632). All transactions are sales (not purchases).

Key Details

• Transaction date: July 1, 2026; Form 4 filed July 2, 2026 (timely).
• Total shares disposed: 8,021; total value ≈ $547,667.
• Breakdown:
  • Tax withholding (F): 3,021 shares @ $67.87 = $205,035 (withheld on RSU vesting).
  • Open-market sales (S) under 10b5-1: 280 @ $65.13, 360 @ $66.09, 1,320 @ $67.81, 1,360 @ $68.47, 600 @ $69.69, 1,080 @ $70.52 (combined ≈ $342,632).
• Notable footnotes: sales were effected under a 10b5-1 trading plan (adopted May 28, 2025); reported prices are VWAPs and the filing discloses trade price ranges for each block (ranges $64.66–$70.71 depending on block). The filer offers to provide per-trade detail upon request to regulators or holders.
• Shares owned after the transactions: not specified in the data provided.

Context

• The 3,021-share transaction is tax withholding related to vested restricted stock units (a routine cashless withholding, coded F). The remaining disposals were open-market sales executed pursuant to a pre-established 10b5-1 plan (coded S), which is a common mechanism for insiders to sell shares according to a predetermined schedule.
• These are sales (not buys), which are often routine (tax withholding or plan-driven) and do not by themselves indicate insider sentiment.