Carvana (CVNA) director exercises 10,000 options and updates trust holdings
Rhea-AI Filing Summary
Carvana Co. director Ira J. Platt exercised stock options to acquire 10,000 shares of Class A common stock at an exercise price of $15.00 per share. After this derivative exercise, his direct Class A common stock holdings increased to 36,105 shares, and the option position referenced in this filing was fully converted.
The filing also records estate-related transfers: 850 shares were distributed from an account previously held by his parent due to a family member’s death, with 425 of those shares moving into the Ira J. Platt Revocable Trust. Indirect holdings now include 11,258 shares held by a trust and 1,999 shares held by the Platt Family Foundation, a charitable organization over which Platt has voting and investment power while disclaiming beneficial ownership except for any pecuniary interest.
Positive
- None.
Negative
- None.
Insights
Platt’s Form 4 shows a routine option exercise and estate-related reallocations, with no open-market buying or selling.
Director Ira J. Platt exercised non-qualified stock options to acquire 10,000 shares of Carvana Class A common stock at an exercise price of $15.00 per share. Following this exercise, his direct common stock position rose to 36,105 shares, and there are no remaining derivative positions listed in this filing, indicating a full exercise of the reported option grant.
The filing also details 1,275 shares involved in estate-related distributions coded as W, tied to the death of a family member. Of 850 shares distributed from a parent’s account, 425 went to the Ira J. Platt Revocable Trust, with additional trust and foundation holdings reported as indirect. These are non-market transfers and restructuring entries rather than discretionary market trades, so the informational signal for investors is limited and best viewed as routine position housekeeping.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Options (Right to Buy) | 10,000 | $0.00 | -- |
| W | Class A Common Stock | 850 | $0.00 | -- |
| W | Class A Common Stock | 425 | $0.00 | -- |
| Exercise | Class A Common Stock | 10,000 | $15.00 | $150K |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Footnotes (1)
- 850 shares of Class A common stock were distributed from an account previously held by the Reporting Person's parent due to the death of a family member. 425 of such shares were distributed to the Ira J. Platt Revocable Trust (the "Revocable Trust"). Represents shares of Class A common stock held directly by the Revocable Trust. The Reporting Person is co-trustee and the Reporting Person's spouse is primary beneficiary of the Revocable Trust. Represents shares of Class A common stock held directly by the Georgiana Platt and Successors Remainder Trust (the "Settlers Trust"). The Reporting Person's spouse is co-trustee and primary beneficiary of the Settlers Trust. Represents shares of Class A common stock held by the Platt Family Foundation (the "Foundation"), a charitable organization. The Reporting Person has voting and investment power over all securities owned by the Foundation. The Reporting Person disclaims beneficial ownership of the shares, except to the extent of his pecuniary interest therein. The non-qualified stock options representing the right to purchase for the exercise price Class A common stock of the Issuer vested in three equal annual installments beginning on April 27, 2018.
