Footnotes
ID | footnote |
f1 |
the reported sales were effected pursuant to a rule 10b5-1 trading plan adopted by the reporting person on march 15, 2019. the reporting person acquired the class a common stock on november 25, 2019 by exchanging 42,481 class b common units of carvana group, llc ("class b units") for 33,985 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 |
this transaction was executed in multiple trades at prices ranging from $90.00 to $90.48, inclusive; the price reported above reflects the volume weighted average sale price. |
f3 |
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. |
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 units on march 24, 2015 with a participation threshold of $0.000; 200,000 of which vested on july 1, 2015 and 16,667 of which vest on the first of each month thereafter. |