Garcia Ernest C. II's Form 4 filing
Carvana Co. (CVNA) · filed Aug 25, 2021
- Accession no.
- 0001209191-21-053385
- Filed
- Aug 25, 2021, 8:12 PM ET
- Trade date
- Aug 23, 2021
- Filing delay
- 2 days
- Rule 10b5-1 plan
- Not on the form (before 2023)
This filing lists 19 non-derivative transactions and 1 derivative transaction. Open-market sales total $14.6M. It was filed 2 days after the trade.
Reporting owners
A Form 4 can have several reporting owners, such as a person and a fund they control. Trade tables show the first one.
| Owner | Relationship to the company |
|---|---|
| Garcia Ernest C. IICIK 0001017608 | 10% Owner |
| Verde Investments, Inc.CIK 0001704727 | 10% Owner |
Non-derivative securities (Table I)
Acquisitions and disposals of common stock and similar shares, one row per line on the filing.
| Trade date | Security | Transaction | Shares | Price | Value | Shares after | Ownership | Flags |
|---|---|---|---|---|---|---|---|---|
| Aug 23, 2021 | Class A Common Stock | CConversionAcquired | +200 | $0.00F1 | $0 | 200 | Direct | |
| Aug 23, 2021 | Class A Common Stock | SSaleDisposed | −200 | $349.76 | −$69,952 | 0 | Direct | |
| Aug 23, 2021 | Class A Common Stock | CConversionAcquired | +100 | $0.00F1 | $0 | 100 | Direct | |
| Aug 23, 2021 | Class A Common Stock | SSaleDisposed | −100 | $351.70 | −$35,170 | 0 | Direct | |
| Aug 23, 2021 | Class A Common Stock | CConversionAcquired | +2,223 | $0.00F1 | $0 | 2,223 | Direct | |
| Aug 23, 2021 | Class A Common Stock | SSaleDisposed | −2,223 | $354.35F3 | −$787,709.6 | 0 | Direct | |
| Aug 23, 2021 | Class A Common Stock | CConversionAcquired | +5,577 | $0.00F1 | $0 | 5,577 | Direct | |
| Aug 23, 2021 | Class A Common Stock | SSaleDisposed | −5,577 | $355.26F3 | −$1,981,274.42 | 0 | Direct | |
| Aug 23, 2021 | Class A Common Stock | CConversionAcquired | +7,926 | $0.00F1 | $0 | 7,926 | Direct | |
| Aug 23, 2021 | Class A Common Stock | SSaleDisposed | −7,926 | $356.26F3 | −$2,823,709.63 | 0 | Direct | |
| Aug 23, 2021 | Class A Common Stock | CConversionAcquired | +7,037 | $0.00F1 | $0 | 7,037 | Direct | |
| Aug 23, 2021 | Class A Common Stock | SSaleDisposed | −7,037 | $357.32F3 | −$2,514,491.1 | 0 | Direct | |
| Aug 23, 2021 | Class A Common Stock | CConversionAcquired | +12,704 | $0.00F1 | $0 | 12,704 | Direct | |
| Aug 23, 2021 | Class A Common Stock | SSaleDisposed | −12,704 | $358.22F3 | −$4,550,884.05 | 0 | Direct | |
| Aug 23, 2021 | Class A Common Stock | CConversionAcquired | +4,600 | $0.00F1 | $0 | 4,600 | Direct | |
| Aug 23, 2021 | Class A Common Stock | SSaleDisposed | −4,600 | $359.12F3 | −$1,651,964.42 | 0 | Direct | |
| Aug 23, 2021 | Class A Common Stock | CConversionAcquired | +400 | $0.00F1 | $0 | 400 | Direct | |
| Aug 23, 2021 | Class A Common Stock | SSaleDisposed | −400 | $360.06F3 | −$144,025.52 | 0 | Direct | |
| Aug 23, 2021 | Class B Common Stock | JOtherDisposed | −40,767 | $0.00F6 | $0 | 38,937,458 | Direct |
Derivative securities (Table II)
Options, warrants, restricted stock units and similar. Shares are the underlying shares; price and value are for the derivative itself, and the holding after is in derivative units.
| Trade date | Security | Transaction | Underlying shares | Unit price | Value | Held after | Ownership | Flags |
|---|---|---|---|---|---|---|---|---|
| Aug 23, 2021 | Class A Common Stock | CConversionDisposed | −40,767 | $0.00 | $0 | 48,671,822 | Direct |
Footnotes and remarks
Livermore keeps the footnotes that transaction prices refer to, all footnotes of amendments (Form 4/A) and the filing's remarks. Other footnotes, such as how indirect holdings are held or the details of a trading plan, are only in the original on SEC EDGAR.
- F1
Reflects the conversion of Class A Common Units ("Class A Units") of Carvana Group, LLC ("Carvana Group") owned directly by Ernest C. Garcia II into shares of Class A Common Stock ("Class A Shares") of the Issuer 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").
Referenced by the price of 9 transactions in Table I.
- F3
Column 4 reflects a weighted average price. Shares sold in multiple transactions at prices ranging from $353.75-$354.74 (weighted average $354.3453); $354.75-$355.74 (weighted average $355.2581); $355.75-$356.745 (weighted average $356.2591); $356.76-$357.75 (weighted average $357.3243); $357.77-$358.75 (weighted average $358.2245); $358.82-$359.815 (weighted average $359.1227); and $359.94-$360.235 (weighted average $360.0638), respectively. Reporting person undertakes to provide issuer, securityholder of issuer or SEC staff, upon request, information regarding number of shares sold at each separate price within ranges set forth herein.
Referenced by the price of 7 transactions in Table I.
- F6
Reflects the cancellation for no consideration of Class B Common Stock of the Issuer ("Class B Shares") in connection with the conversion of Class A Units into Class A Shares. Following the reported transaction, the remaining Class B Shares are owned directly by Ernest C. Garcia II.
Referenced by the price of 1 transaction in Table I.