ERNEST C. GARCIA II - 26 Apr 2022 Form 4 Insider Report for CARVANA CO. (CVNA)

Role
10%+ Owner
Signature
/s/ Ernest C. Garcia II
Issuer symbol
CVNA
Transactions as of
26 Apr 2022
Transactions value $
$408,000,000
Form type
4
Filing time
26 Apr 2022, 20:44:12 UTC
Previous filing
25 Aug 2021
Next filing
15 Jun 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CVNA Class A Common Stock Purchase $3M +37.5K +6.75% $80.00 593K 26 Apr 2022 Verde Investments, Inc. F1
transaction CVNA Class A Common Stock Purchase $68M +850K $80.00 850K 26 Apr 2022 Ernest Irrevocable 2004 Trust III F2
transaction CVNA Class A Common Stock Purchase $68M +850K +850% $80.00 950K 26 Apr 2022 Ernest C. Garcia III Multi-Generational Trust III F3
transaction CVNA Class A Common Stock Purchase $269M +3.36M $80.00 3.36M 26 Apr 2022 Direct
holding CVNA Class B Common Stock 38.9M 26 Apr 2022 Direct
holding CVNA Class B Common Stock 11.8M 26 Apr 2022 Ernest Irrevocable 2004 Trust III F4
holding CVNA Class B Common Stock 12M 26 Apr 2022 Ernest C. Garcia III Multi-Generational Trust III F5
holding CVNA Class B Common Stock 8M 26 Apr 2022 ECG II SPE, LLC F6

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding CVNA Class A Units 48.7M 26 Apr 2022 Class A Common Stock Direct F7
holding CVNA Class A Units 14.8M 26 Apr 2022 Class A Common Stock Ernest Irrevocable 2004 Trust III F8
holding CVNA Class A Units 14.9M 26 Apr 2022 Class A Common Stock Ernest C. Garcia III Multi-Generational Trust III F9
holding CVNA Class A Units 10M 26 Apr 2022 Class A Common Stock ECG II SPE, LLC F10
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These Class A Shares are owned directly by Verde Investments, Inc., an entity which Mr. Garcia wholly owns and controls.
F2 These Class A Shares are owned directly by the Ernest Irrevocable 2004 Trust III (the "2004 Trust"). Mr. Garcia may have shared voting and dispositive power with respect to the Class A Shares held by the 2004 Trust. Mr. Garcia is a non-voting co-trustee with respect to the 2004 Trust and Mr. Garcia's son, Ernie Garcia III, is the sole beneficiary.
F3 These Class A Shares are owned directly by the Ernest C. Garcia III Multi-Generational Trust III (the "Multi-Generational Trust"). Mr. Garcia may have shared voting and dispositive power with respect to the Class A Shares held by the Multi-Generational Trust. Mr. Garcia is a non-voting co-trustee with respect to the Multi-Generational Trust, and Ernie Garcia III and his children are the sole beneficiaries.
F4 These Class B Shares are owned directly by the 2004 Trust.
F5 These Class B Shares are owned directly by the Multi-Generational Trust.
F6 These Class B Shares are owned directly by ECG II SPE, LLC ("E-SPE"), an entity which Mr. Garcia wholly owns and controls.
F7 These Class A Units are exchangeable for 0.8 Class A Shares pursuant to the Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the "Exchange Agreement").
F8 These Class A Units are owned directly by the 2004 Trust and are exchangeable for 0.8 Class A Shares pursuant to the Exchange Agreement.
F9 These Class A Units are owned directly by the Multi-Generational Trust and are exchangeable for 0.8 Class A Shares pursuant to the Exchange Agreement.
F10 These Class A Units are owned directly by E-SPE and are exchangeable for 0.8 Class A Shares pursuant to the Exchange Agreement.