Home > Insider Trading > Filing (0001690820-19-000117)

Filing Details

Accession Number:: 0001690820-19-000117
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2019-05-16 19:13:40
Reporting Period:: 2019-05-15

Accepted Time:: 2019-05-16 19:13:40
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1690820	Carvana Co.	CVNA	Retail-Auto Dealers & Gasoline Stations (5500)	814549921

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1700545	W. Paul Breaux	C/O Carvana Co. 1930 W. Rio Salado Pkwy Tempe AZ 85281	See Remarks	No	Yes	No	No

Reported Non-Derivative Transactions

Show Other Fields >>

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Class A Common Stock	Acquisiton	2019-05-15	37,500	$0.00	48,194	No	4	C	Direct
Class A Common Stock	Disposition	2019-05-15	37,500	$64.82	10,694	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	C	Direct
No	4	S	Direct

Reported Derivative Transactions

Show Other Fields >>

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Class A Common Stock	Class B Units	Disposition	2019-05-15	51,724	$4.88	37,500	$4.88

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
192,715			No	4	C	Direct

Footnotes

The reported sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 12, 2019. The Reporting Person acquired the Class A Common Stock on May 15, 2019 by exchanging 51,724 Class B common units of Carvana Group, LLC ("Class B Units") for 37,500 shares of Class A Common Stock pursuant to an exchange agreement among the Issuer and certain common unit holders of Carvana Group, LLC, dated April 27, 2017 (the "Exchange Agreement").
The Exchange Agreement permits holders of Class B Units to exchange their Class B Units for a number of shares of the Issuer's Class A Common Stock equal to the Class A Common Stock Value less the Adjusted Participation Threshold (as each term is defined in the Exchange Agreement) multiplied by 0.8 times the number of Class B Units being exchanged, divided by the Class A Common Stock Value.
This transaction was executed in multiple trades at prices ranging from $63.20 to $65.80, inclusive; the price reported above reflects the volume weighted average sale price.
The exchanged Class B Units have a participation threshold of $4.878. The Class B Units have no expiration date.
The Reporting Person was granted 250,000 Class B Units on December 30, 2015 with a participation threshold of $4.878; 50,000 of which vested on August 3, 2016 and 4,167 of which vest on the first of each month beginning September 1, 2016. The Reporting Person was also granted 12,500 Class B Units on January 29, 2016 with a participation threshold of $4.878; 2,500 of which vested on August 3, 2016 and 209 of which vest on the first of each month beginning September 1, 2016.