Footnotes
ID | footnote |
f1 |
on november 9, 2018, the reporting person sold the 13,000 shares of class a common stock, par value $0.001 per share, of the issuer (the "class a common stock") pursuant to a rule 10b5-1 trading plan adopted by the reporting person on september 20, 2018. the reporting person acquired the class a common stock on november 9, 2018 by exchanging 16,250 class b common units of carvana group, llc ("class b units") for 13,000 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"). |
f2 |
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. |
f3 |
this transaction was executed in multiple trades at prices ranging from $50.00 to $50.30, inclusive; the price reported above reflects the volume weighted average sale price. |
f4 |
the exchanged class b units have a participation threshold of $0.00. the class b units have no expiration date. |
f5 |
the reporting person was granted 1,000,000 class b common units ("class b units") of carvana group, llc ("carvana group") on march 24, 2015 with a participation threshold of $0.00; 250,000 vested on the grant date and 16,667 vest on the first of each month thereafter. |