Carvana (CVNA) VP Stephen R. Palmer Sells 5,000 Shares

What Happened

• Stephen R. Palmer, Vice President of Accounting at Carvana (CVNA), disposed of shares in early August 2026. On Aug 1, 3,025 shares were withheld to cover taxes upon vesting of restricted stock units (RSUs) at $62.36 per share ($188,639). On Aug 3 he sold 5,000 shares in open-market transactions executed under a pre-existing Rule 10b5-1 plan, generating aggregate proceeds of about $322,474 (reported as VWAPs).

Key Details

• Transaction dates and amounts:
  • 2026-08-01: Tax withholding (F) — 3,025 shares @ $62.36 = $188,639 (RSU tax withholding).
  • 2026-08-03: Open-market sales (S, under 10b5-1 plan) —
    • 760 shares @ $63.19 = $48,024 (trades priced $62.67–$63.48)
    • 2,280 shares @ $64.22 = $146,422 (trades priced $63.67–$64.64)
    • 1,440 shares @ $65.14 = $93,802 (trades priced $64.67–$65.56)
    • 520 shares @ $65.82 = $34,226 (trades priced $65.69–$66.08)
  • Total reported proceeds from open-market sales: ~$322,474; total disposed including tax withholding: ~$511,113.
• Footnotes of note:
  • F1: Withholding relates to RSU vesting.
  • F2: Sales were made pursuant to a 10b5-1 trading plan adopted May 28, 2025.
  • F3–F7: Prices reported are VWAPs and trades were executed in multiple fills within listed price ranges.
• Shares owned after the transactions: not specified in the provided filing excerpt.
• Filing timeliness: filing date 2026-08-04 covering transactions through 2026-08-03; no late filing flag indicated in the provided data.

Context

• The Aug 1 transaction is a tax withholding (F code) tied to RSU vesting — a routine, non-discretionary disposal to satisfy tax obligations. The Aug 3 sales (S code) were executed under a pre-arranged 10b5-1 plan, which typically schedules sales to avoid trading on nonpublic information. Sales are routine insider dispositions and do not, by themselves, indicate the insider’s view of the company’s prospects.