Insider trade

Officer sold ~$18M of CVNA shares in the open market

Traded Dec 12, 2025 · Filed Dec 13, 2025

CarvanaCVNA

~$18M
Reported value · 38K sh @ $475.20: 193K
Holds after · shares reported: -30.8%
stock since the trade · S&P 500 +12.1%, $91.136 → $63.04 on Oct 1

Why it stands out

Carvana's Chief Product Officer sold $18M of Carvana shares. It was planned long ago, so it says very little.

Written from the filing's own figures. OQRO describes what was reported and never tells you what to buy or sell

View the official recordSEC Form 4 — Statement of Changes in Beneficial Ownership

All the details

Dates, kept separate

Transaction date: Dec 12, 2025
Reporting period: Not applicable
Filed with the SEC: Dec 13, 2025

Officer$1M+Pre-arranged plan referenced

Context

Classification

open market sale

Code S — open-market or private sale

Absolute commitment

~$18,000,576

Shares × reported transaction price

Timing vs results

44 days after results of Oct 29, 2025, 68 days before results of Feb 18, 2026

Results dates are the company's own 8-K (Item 2.02). Many companies only let insiders trade in a window after results

Price at the time

Closed at $91.136 on Dec 12, 2025, within 4% of its 52-week high, after a 49% rise over the previous 30 trading days

52-week range $32.514 (Apr 4, 2025) to $94.546 (Dec 11, 2025), 95% of the way up, from 250 adjusted closes. 30 trading days earlier: $61.014 on Oct 30, 2025. Describes the past only, not a forecast

Planned / mechanical clue

Footnote references a pre-arranged trading plan (Rule 10b5-1)

Only flagged when a footnote says so; never inferred

After it was reported

After	Stock	S&P 500	Difference
7 days	-3.2%	+0.6%	-3.8%
30 days	+2.4%	+1.4%	+1.0%
90 days	-31.7%	-1.7%	-30.0%
180 days	-23.1%	+10.9%	-34.0%

Past results only. Not a forecast.

Source receipt

Record ID: 0001700538-25-000015
Filed / recorded: Dec 13, 2025, 4:02 AM UTC
Added to OQRO: Oct 2, 2026, 12:27 PM UTC
Parser: form4-xml-v1
Data quality: Verified: identifiers matched exactly
Issuer: CARVANA CO.
Issuer CIK: 1690820
Ticker: CVNA
Reporting person: Daniel J. Gill
Relationship: Officer
Officer title: Chief Product Officer
Security: Class A Common Stock
Table: Non-derivative (Table I)
Transaction date: Dec 12, 2025
Transaction code: S
Shares / units: 37,880
Price per share: $475.20
Acquired / disposed: Disposed (D)
Shares owned after: 193,226
Ownership form: Direct
Amendment: No

Footnotes from the filing

The reported option exercises and sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 13, 2024 (the "10b5-1 Plan").
The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.
This transaction was executed in multiple trades at prices ranging from $475.00 to $475.91 inclusive.