EQR Director Receives 3,393 Restricted Units in Routine Compensation Grant

Q: How many Equity Residential (EQR) units did the director receive?

3,393 Series 2025D restricted units were granted on 1 July 2025.

Q: When do the restricted units granted to the EQR director vest?

The units vest on 1 July 2026 and must be held until 1 July 2027.

Q: Was any cash paid for the restricted units?

No. The Form 4 lists a $0 price ; this is a compensatory grant, not an open-market purchase.

Q: Does this insider transaction materially affect EQR鈥檚 share count?

No. The grant represents , making it immaterial to dilution.

[Form 4] Carvana Co. Insider Trading Activity

Filing Impact

(High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Equity Residential (EQR) 鈥� Form 4 insider filing

Director Tahsinul Zia Huque received 3,393 Series 2025D restricted units (RUs) of ERP Operating Limited Partnership on 1 July 2025 as part of the REIT鈥檚 annual long-term compensation program. Each RU automatically converts, subject to tax-capital targets, into one OP Unit that is exchangeable for one Equity Residential common share (or cash) at the company鈥檚 option.

Vesting: 1 July 2026
Post-vesting holding restriction: until 1 July 2027
Expiration: 1 July 2035 (if conversion target not met)
Ownership form: Direct

No shares were sold; the grant was recorded at $0 cost, indicating a routine equity-based award rather than an open-market purchase. The transaction modestly increases insider equity alignment but is immaterial to EQR鈥檚 capital structure.

Positive

Director equity award modestly strengthens management鈥搒hareholder alignment by tying compensation to future share performance.

Negative

None.

Insights

TL;DR: Routine director grant of 3,393 restricted units; aligns incentives, immaterial to valuation.

The filing documents a standard annual equity award, representing roughly US$200-250k in current market value (鈮�0.001% of shares outstanding). Because the units vest over one year with an additional 12-month holding lock-up, they enhance long-term alignment without signalling immediate insider conviction through cash purchases. No dilution or cash outflow occurs, and the small size relative to EQR鈥檚 US$30bn market cap renders the event non-impactful for valuation or liquidity. Investors can view it as neutral-to-slightly-positive governance practice.

07/03/2025 - 04:16 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

JENKINS MARK W.

(Last)

(First)

(Middle)

C/O CARVANA CO.

300 E. RIO SALADO PKWY

(Street)

TEMPE

85281

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
CARVANA CO. [ CVNA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	07/01/2025		F		1,219⁽¹⁾	D	$338.26	211,020	D
Class A Common Stock	07/01/2025		M		10,000⁽²⁾	A	$10.07	221,020	D
Class A Common Stock	07/01/2025		M		2,000⁽²⁾	A	$42.03	223,020	D
Class A Common Stock	07/01/2025		M		750⁽²⁾	A	$51.97	223,770	D
Class A Common Stock	07/01/2025		S⁽²⁾		300	D	$333.84⁽³⁾	223,470	D
Class A Common Stock	07/01/2025		S⁽²⁾		402	D	$334.63⁽⁴⁾	223,068	D
Class A Common Stock	07/01/2025		S⁽²⁾		1,700	D	$335.9⁽⁵⁾	221,368	D
Class A Common Stock	07/01/2025		S⁽²⁾		2,443	D	$337.05⁽⁶⁾	218,925	D
Class A Common Stock	07/01/2025		S⁽²⁾		2,550	D	$338.21⁽⁷⁾	216,375	D
Class A Common Stock	07/01/2025		S⁽²⁾		2,255	D	$339.17⁽⁸⁾	214,120	D
Class A Common Stock	07/01/2025		S⁽²⁾		800	D	$340.37⁽⁹⁾	213,320	D
Class A Common Stock	07/01/2025		S⁽²⁾		1,900	D	$341.31⁽¹⁰⁾	211,420	D
Class A Common Stock	07/01/2025		S⁽²⁾		400	D	$342.16⁽¹¹⁾	211,020	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Options (Right to Buy)	$10.07	07/01/2025		M⁽²⁾			10,000	04/01/2024⁽¹²⁾	02/22/2033	Class A Common Stock	10,000	$0	228,513	D
Stock Options (Right to Buy)	$42.03	07/01/2025		M⁽²⁾			2,000	04/01/2025⁽¹³⁾	01/24/2034	Class A Common Stock	2,000	$0	66,703	D
Stock Options (Right to Buy)	$51.97	07/01/2025		M⁽²⁾			750	04/01/2025⁽¹³⁾	02/13/2034	Class A Common Stock	750	$0	25,346	D

Explanation of Responses:

1. Represents total number of shares of Class A Common Stock of the Issuer withheld for taxes upon vesting of restricted stock units pursuant to various awards.

2. The reported option exercises and sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 5, 2024.

3. This transaction was executed in multiple trades at prices ranging from $333.22 to $334.15 inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

4. This transaction was executed in multiple trades at prices ranging from $334.36 to $335.29 inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

5. This transaction was executed in multiple trades at prices ranging from $335.46 to $336.39 inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

6. This transaction was executed in multiple trades at prices ranging from $336.62 to $337.59 inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

7. This transaction was executed in multiple trades at prices ranging from $337.70 to $338.58 inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

8. This transaction was executed in multiple trades at prices ranging from $338.70 to $339.67 inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

9. This transaction was executed in multiple trades at prices ranging from $339.79 to $340.72 inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

10. This transaction was executed in multiple trades at prices ranging from $340.82 to $341.80 inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

11. This transaction was executed in multiple trades at prices ranging from $341.82 to $342.55 inclusive. The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

12. The non-qualified stock options representing the right to purchase for the exercise price Class A Common Stock of the Issuer vested 25% on April 1, 2024 and monthly thereafter for the following three years, subject to the Reporting Person's continued service with the Issuer.

13. The non-qualified stock options representing the right to purchase for the exercise price Class A Common Stock of the Issuer vested 25% on April 1, 2025 and monthly thereafter for the following three years, subject to the Reporting Person's continued service with the Issuer.

Remarks:

	/s/ Paul Breaux, by Power of Attorney for Mark W. Jenkins	07/03/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source:

FAQ

How many Equity Residential (EQR) units did the director receive?

3,393 Series 2025D restricted units were granted on 1 July 2025.

When do the restricted units granted to the EQR director vest?

The units vest on 1 July 2026 and must be held until 1 July 2027.

Can these RUs be converted into Equity Residential common shares?

Yes. Upon meeting tax-capital targets, each RU converts into one OP Unit, exchangeable for one common share or cash at EQR鈥檚 option.

Was any cash paid for the restricted units?

No. The Form 4 lists a $0 price; this is a compensatory grant, not an open-market purchase.

Does this insider transaction materially affect EQR鈥檚 share count?

No. The grant represents <0.001% of outstanding shares, making it immaterial to dilution.

AG真人官方

[Form 4] Carvana Co. Insider Trading Activity

Insights

FAQ

How many Equity Residential (EQR) units did the director receive?

When do the restricted units granted to the EQR director vest?

Can these RUs be converted into Equity Residential common shares?

Was any cash paid for the restricted units?

Does this insider transaction materially affect EQR鈥檚 share count?

NYSE:CVNA

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[Form 4] Carvana Co. Insider Trading Activity

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FAQ

How many Equity Residential (EQR) units did the director receive?

When do the restricted units granted to the EQR director vest?

Can these RUs be converted into Equity Residential common shares?

Was any cash paid for the restricted units?

Does this insider transaction materially affect EQR鈥檚 share count?

NYSE:CVNA

CVNA Rankings

CVNA Latest News

CVNA Latest SEC Filings

CVNA Stock Data