Ernest C. Garcia III, a significant shareholder in Carvana Co., has filed an amended Schedule 13G with the United States Securities and Exchange Commission (SEC), reporting a 19.57% ownership stake in the company. The filing, dated September 30, 2024, indicates that Garcia holds a total of 30,640,009 shares of Carvana's Class A Common Stock. This includes both direct and shared voting and dispositive power over the shares. The direct holdings consist of shares, restricted stock units (RSUs), options, and Class A Units exchangeable for Class A Common Stock. The shared holdings are through the Ernest Irrevocable 2004 Trust III and the Ernest C. Garcia III Multi-Generational Trust III, where Garcia serves as Co-Administrative Trustee and Co-Investment Trustee. The reported ownership percentage is...Show More

Ernest C. Garcia III, a significant shareholder in Carvana Co., has filed an amended Schedule 13G with the United States Securities and Exchange Commission (SEC), reporting a 19.57% ownership stake in the company. The filing, dated September 30, 2024, indicates that Garcia holds a total of 30,640,009 shares of Carvana's Class A Common Stock. This includes both direct and shared voting and dispositive power over the shares. The direct holdings consist of shares, restricted stock units (RSUs), options, and Class A Units exchangeable for Class A Common Stock. The shared holdings are through the Ernest Irrevocable 2004 Trust III and the Ernest C. Garcia III Multi-Generational Trust III, where Garcia serves as Co-Administrative Trustee and Co-Investment Trustee. The reported ownership percentage is calculated based on the number of Carvana's Class A Common Stock shares outstanding as of October 28, 2024, as well as additional shares issuable upon the exercise of options, settlement of RSUs, and conversion of Class A Units. The filing emphasizes that it should not be construed as an admission that Garcia or the trusts are the beneficial owners of the securities for the purposes of Section 13(d) or 13(g) of the Exchange Act.