Garcia Adjusts Carvana Stake in Latest 13D Filing

TL;DR

Garcia's group updated their Carvana 13D filing on 5/14 - ownership changes incoming.

AI Summary

Ernest C. Garcia II, through Verde Investments, Inc. and ECG II SPE, LLC, has amended their Schedule 13D filing for Carvana Co. on May 14, 2024. The filing indicates a change in the beneficial ownership of Carvana Co. Class A Common Stock, with the specific details of the change not fully elaborated in the provided text but signaling an ongoing relationship and potential adjustments in holdings by Garcia.

Why It Matters

This filing signals potential shifts in significant shareholder positions, which can influence market perception and Carvana's stock performance.

Risk Assessment

Risk Level: medium — Schedule 13D filings often indicate significant shareholder activity, which can lead to price volatility.

Key Numbers

• 31 — Amendment Number (Indicates this is the 31st amendment to the original filing, showing ongoing activity.)

Key Players & Entities

• Ernest C. Garcia II (person) — Filing person and beneficial owner
• Verde Investments, Inc. (company) — Filing entity and holder of Carvana stock
• ECG II SPE, LLC (company) — Filing entity and holder of Carvana stock
• Carvana Co. (company) — Subject company

FAQ

Key Financial Figures

• $0.001 — suer) Class A Common Stock, par value $0.001 per share (Title of Class of Securiti
• $80.1299 — sactions at a weighted average price of $80.1299 per share. These shares were sold in mu
• $80.00 — ple transactions at prices ranging from $80.00 to $80.39, inclusive. The sale was effe
• $80 — ctions at prices ranging from $80.00 to $80.39, inclusive. The sale was effected pu
• $80.0928 — sactions at a weighted average price of $80.0928 per share. These shares were sold in mu
• $85.3792 — sactions at a weighted average price of $85.3792 per share. These shares were sold in mu
• $83.41 — ple transactions at prices ranging from $83.41 to $88.26, inclusive. The sales were ef
• $88 — ctions at prices ranging from $83.41 to $88.26, inclusive. The sales were effected
• $82.2378 — sactions at a weighted average price of $82.2378 per share. These shares were sold in mu
• $81.42 — ple transactions at prices ranging from $81.42 to $83.27, inclusive. The sales were ef
• $83 — ctions at prices ranging from $81.42 to $83.27, inclusive. The sales were effected
• $83.0272 — sactions at a weighted average price of $83.0272 per share. These shares were sold in mu
• $82.00 — ple transactions at prices ranging from $82.00 to $84.78, inclusive. The sales were ef
• $84 — ctions at prices ranging from $82.00 to $84.78, inclusive. The sales were effected
• $116.4105 — sactions at a weighted average price of $116.4105 per share. These shares were sold in mu

Filing Documents

• d839366dsc13da.htm (SC 13D/A) — 82KB
• 0001193125-24-138445.txt ( ) — 84KB

of the Original Schedule 13D is hereby amended and supplemented to include the following information

Item 3 of the Original Schedule 13D is hereby amended and supplemented to include the following information : On April 11, 2024, Mr. Garcia sold 50,000 Class A Shares in open market transactions at a weighted average price of $80.1299 per share. These shares were sold in multiple transactions at prices ranging from $80.00 to $80.39, inclusive. The sale was effected pursuant to a Rule 10b5-1 trading plan adopted by Ernest C. Garcia II and Elizabeth Joanne Garcia on March 11, 2024, in accordance with Rule 10b5-1 of the Act. On April 26, 2024, Mr. Garcia sold 50,000 Class A Shares in open market transactions at a weighted average price of $80.0928 per share. These shares were sold in multiple transactions at prices ranging from $80.00 to $80.36, inclusive. The sales were effected pursuant to a Rule 10b5-1 trading plan adopted by Ernest C. Garcia II and Elizabeth Joanne Garcia on March 11, 2024, in accordance with Rule 10b5-1 of the Act. On April 29, 2024, Mr. Garcia sold 50,000 Class A Shares in open market transactions at a weighted average price of $85.3792 per share. These shares were sold in multiple transactions at prices ranging from $83.41 to $88.26, inclusive. The sales were effected pursuant to a Rule 10b5-1 trading plan adopted by Ernest C. Garcia II and Elizabeth Joanne Garcia on March 11, 2024, in accordance with Rule 10b5-1 of the Act. On April 30, 2024, Mr. Garcia sold 50,000 Class A Shares in open market transactions at a weighted average price of $82.2378 per share. These shares were sold in multiple transactions at prices ranging from $81.42 to $83.27, inclusive. The sales were effected pursuant to a Rule 10b5-1 trading plan adopted by Ernest C. Garcia II and Elizabeth Joanne Garcia on March 11, 2024, in accordance with Rule 10b5-1 of the Act. On May 1, 2024, Mr. Garcia sold 50,000 Class A Shares in open market transactions at a weighted average price of $83.0272 per share. These shares were sold in multiple transactions at prices ranging fro

of the Original Schedule 13D is hereby amended and supplemented to include the following information

Item 5 of the Original Schedule 13D is hereby amended and supplemented to include the following information : The information set forth in Item 3 and on the cover pages of this Schedule 13D is incorporated by reference in its entirety into this Item 5. The transactions effected by the Reporting Persons in respect of Class A Shares since the most recent filing of the Reporting Persons on Schedule 13D are set forth on the following table. All transactions below were effected by Mr. Garcia in open market transactions at prevailing markets prices. Transaction Date Price Per Share Price Per Share Range Number of Shares (2) 04/11/2024 $ 80.1299 (1) $ 80.00-$80.39 50,000 04/26/2024 $ 80.0928 (1) $ 80.00-$80.36 50,000 04/29/2024 $ 85.3792 (1) $ 83.41-$88.26 50,000 04/30/2024 $ 82.2378 (1) $ 81.42-$83.27 50,000 05/01/2024 $ 83.0272 (1) $ 82.00-$84.78 50,000 05/02/2024 $ 116.4105 (1) $ 112.23-$121.52 60,000 05/03/2024 $ 120.3546 (1) $ 115.90-$124.01 60,000 05/06/2024 $ 125.4292 (1) $ 122.76-$128.97 75,000 05/07/2024 $ 120.3274 (1) $ 116.55-$124.13 60,000 05/08/2024 $ 114.0449 (1) $ 112.86-$116.00 60,000 05/09/2024 $ 116.6795 (1) $ 112.97-$120.61 60,000 05/10/2024 $ 116.8729 (1) $ 115.39-$120.06 60,000 05/13/2024 $ 119.2672 (1) $ 116.78-$122.74 60,000 (1) The prices shown are weighted average sale prices for shares sold in multiple transactions. The Reporting Person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the respective ranges. (2) The reported sales were effected pursuant to a Rule 10b5-1 trading plan adopted by Ernest C. Garcia II and Elizabeth Joanne Garcia on March 11, 2024, in accordance with Rule 10b5-1 of the Act. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, each of