CARVANA CO. (CVNA) Form SCHEDULE 13D/A — Nov 3, 2026
Carvana chairman Ernest Garcia II's vehicle ECG II SPE II, LLC sold European-style covered call options to Citibank on 10,000,000 Carvana Class A shares at a $90.00 strike, exercisable only on November 19, 2027, per an Amended Schedule 13D filed November 3, 2026. The option position is collateralized by a pledge of 12,500,000 Class A common units and 10,000,000 Class B shares, with Garcia personally guaranteeing the obligations; he retains voting and dispositive rights over the pledged securities absent a default.
Key figures
- Shares Outstanding
- 0
- Call expiration
- 2027-11-19
- Call strike price
- 90
- Garcia ii percent
- 22.7%
- Call option shares
- 10000000
- Pledged class a units
- 12500000
- Garcia ii shares owned
- 212211585
- Pledged class b shares
- 10000000
- Citi beneficial ownership limit
- 4.0%
AI analysis
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