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[Form 4] Carvana Co. Insider Trading Activity

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Rhea-AI Filing Summary

On 3 July 2025, ContextLogic Inc. (ticker WISH) filed an 8-K announcing a Second Amended & Restated Agreement and Plan of Reorganization. The sole material change responds to Institutional Shareholder Services� (ISS) recommendation that shareholders vote against the original proposal: the 4.9% Transfer Restrictions on post-reorganization stock will now expire no later than the third anniversary of the reorganization’s effectiveness. The revised definition is embedded in Article XIV of Easter Parent, Inc.’s certificate of incorporation.

The amendment, to be voted on at the 10 July 2025 Annual Meeting, will be deemed approved if shareholders vote “FOR� the Reorganization Proposal. No economic terms, consideration, or capital structure elements were modified. ContextLogic also intends to distribute additional shareholder communications (Exhibit 99.1) urging support.

Key investor takeaways

  • The time-limited sunset directly removes ISS’s primary objection, increasing the likelihood of a favorable proxy-adviser recommendation and passage.
  • Liquidity concerns are partially mitigated; holders may exceed 4.9% ownership after three years.
  • The filing contains no new financial metrics; therefore near-term valuation remains unchanged.
  • Full texts of the amended agreement (Exhibit 2.1) and certificate (Exhibit 3.1) are incorporated by reference.

Il 3 luglio 2025, ContextLogic Inc. (ticker WISH) ha depositato un 8-K annunciando un Secondo Accordo Modificato e Ristabilito e Piano di Riorganizzazione. L'unica modifica sostanziale risponde alla raccomandazione di Institutional Shareholder Services (ISS) affinché gli azionisti votassero contro la proposta originale: le Restrizioni di Trasferimento del 4,9% sulle azioni post-riorganizzazione scadranno ora non oltre il terzo anniversario dell'entrata in vigore della riorganizzazione. La nuova definizione è inserita nell'Articolo XIV dello statuto di Easter Parent, Inc.

L'emendamento, che sarà sottoposto a votazione durante l'Assemblea Annuale del 10 luglio 2025, sarà considerato approvato se gli azionisti voteranno “A FAVORE� della proposta di riorganizzazione. Non sono stati modificati termini economici, considerazioni o elementi della struttura del capitale. ContextLogic intende inoltre distribuire ulteriori comunicazioni agli azionisti (Esibizione 99.1) per sollecitare il loro sostegno.

Punti chiave per gli investitori

  • La scadenza temporanea elimina direttamente l'obiezione principale di ISS, aumentando la probabilità di una raccomandazione favorevole da parte del consulente per il voto e l'approvazione della proposta.
  • Le preoccupazioni sulla liquidità sono parzialmente mitigate; i detentori potranno superare il 4,9% di proprietà dopo tre anni.
  • Il deposito non contiene nuove metriche finanziarie; pertanto la valutazione a breve termine rimane invariata.
  • I testi completi dell'accordo modificato (Esibizione 2.1) e dello statuto (Esibizione 3.1) sono incorporati per riferimento.

El 3 de julio de 2025, ContextLogic Inc. (símbolo WISH) presentó un 8-K anunciando un Segundo Acuerdo Enmendado y Reexpresado y Plan de Reorganización. El único cambio material responde a la recomendación de Institutional Shareholder Services (ISS) para que los accionistas votaran en contra de la propuesta original: las Restricciones de Transferencia del 4.9% sobre las acciones posteriores a la reorganización ahora expirarán a más tardar en el tercer aniversario de la efectividad de la reorganización. La definición revisada está incluida en el Artículo XIV del certificado de incorporación de Easter Parent, Inc.

La enmienda, que será votada en la Junta Anual del 10 de julio de 2025, se considerará aprobada si los accionistas votan “A FAVOR� de la Propuesta de Reorganización. No se modificaron términos económicos, consideraciones ni elementos de la estructura de capital. ContextLogic también planea distribuir comunicaciones adicionales a los accionistas (Exhibición 99.1) para fomentar el apoyo.

Puntos clave para inversores

  • La limitación temporal elimina directamente la principal objeción de ISS, aumentando la probabilidad de una recomendación favorable del asesor de voto y la aprobación.
  • Las preocupaciones sobre liquidez se mitigan parcialmente; los titulares podrán superar el 4.9% de propiedad después de tres años.
  • La presentación no contiene nuevas métricas financieras; por lo tanto, la valoración a corto plazo permanece sin cambios.
  • Los textos completos del acuerdo enmendado (Exhibición 2.1) y del certificado (Exhibición 3.1) están incorporados por referencia.

2025ë…� 7ì›� 3ì�, ContextLogic Inc. (티커 WISH)ëŠ� 8-Kë¥� 제출하여 ë‘� 번째 수정 ë°� ìž¬ìž‘ì„±ëœ í•©ì˜ ë°� 재조ì§� 계íšì� 발표했습니다. 유ì¼í•� 주요 ë³€ê²� ì‚¬í•­ì€ Institutional Shareholder Services(ISS)ê°€ 주주들ì—ê²� ì›ëž˜ 제안ì—� 대í•� 반대 투표í•� ê²ƒì„ ê¶Œê³ í•� ë� 대í•� 대ì‘으ë¡�, 재조ì§� í›� 주ì‹ì—� 대í•� 4.9%ì� ì–‘ë„ ì œí•œì� ì´ì œ 재조ì§� 발효ì¼ë¡œë¶€í„� 최대 3주년까지 만료ë©ë‹ˆë‹�. 수정ë� ì •ì˜ëŠ� Easter Parent, Inc.ì� ì •ê´€ ì �14ì¡°ì— í¬í•¨ë˜ì–´ 있습니다.

ì� ìˆ˜ì •ì•ˆì€ 2025ë…� 7ì›� 10ì� ì—°ë¡€ ì´íšŒì—서 투표ë� 예정ì´ë©°, ì£¼ì£¼ë“¤ì´ ìž¬ì¡°ì§� 제안ì—� 대í•� “찬성â€� 투표í•� 경우 승ì¸ë� 것으ë¡� 간주ë©ë‹ˆë‹�. 경제ì � ì¡°ê±´, 대가 ë˜ëŠ” ìžë³¸ 구조 요소ëŠ� 변경ë˜ì§€ 않았습니ë‹�. ContextLogicì€ ë˜í•œ 추가 주주 커뮤니케ì´ì…˜(전시ë¬� 99.1)ì� ë°°í¬í•˜ì—¬ 지지ë¥� 촉구í•� 계íšìž…니ë‹�.

주요 투ìžìž� ìš”ì 

  • 기간 한정 만료 ì¡°í•­ì€ ISSì� ì£¼ëœ ë°˜ëŒ€ ì´ìœ ë¥� ì§ì ‘ 해소하여 ê¸ì •ì ì¸ ì˜ê²°ê¶� ìžë¬¸ 추천 ë°� 통과 가능성ì� 높입니다.
  • 유ë™ì„� 우려가 ì¼ë¶€ 완화ë˜ë©°, 보유ìžëŠ” 3ë…� í›� 4.9% ì´ìƒì� ì§€ë¶„ì„ ê°€ì§� ìˆ� 있습니다.
  • 제출 서류ì—는 새로ìš� 재무 ì§€í‘�ê°€ í¬í•¨ë˜ì–´ 있지 않아 단기 í‰ê°€ì—는 변화가 없습니다.
  • 수정ë� í•©ì˜ì„� 전문(전시ë¬� 2.1)ê³� ì •ê´€ 전문(전시ë¬� 3.1)ì€ ì°¸ì¡°ë¡� í¬í•¨ë˜ì–´ 있습니다.

Le 3 juillet 2025, ContextLogic Inc. (symbole WISH) a déposé un 8-K annonçant un Deuxième Accord Modifié et Révisé et Plan de Réorganisation. Le seul changement majeur répond à la recommandation d'Institutional Shareholder Services (ISS) invitant les actionnaires à voter contre la proposition initiale : les restrictions de transfert de 4,9 % sur les actions post-réorganisation expireront désormais au plus tard à la troisième année suivant l'entrée en vigueur de la réorganisation. La définition révisée est intégrée à l'article XIV des statuts d'Easter Parent, Inc.

L'amendement, qui sera soumis au vote lors de l'assemblée annuelle du 10 juillet 2025, sera considéré comme approuvé si les actionnaires votent « POUR » la proposition de réorganisation. Aucun terme économique, considération ou élément de structure du capital n'a été modifié. ContextLogic prévoit également de diffuser des communications supplémentaires aux actionnaires (Exhibit 99.1) pour encourager leur soutien.

Points clés pour les investisseurs

  • La limitation dans le temps supprime directement l'objection principale d'ISS, augmentant ainsi la probabilité d'une recommandation favorable du conseiller en vote et de l'adoption.
  • Les préoccupations concernant la liquidité sont partiellement atténuées ; les détenteurs pourront dépasser 4,9 % de propriété après trois ans.
  • Le dépôt ne contient aucune nouvelle métrique financière ; par conséquent, la valorisation à court terme reste inchangée.
  • Les textes complets de l'accord modifié (Exhibit 2.1) et des statuts (Exhibit 3.1) sont incorporés par référence.

Am 3. Juli 2025 reichte ContextLogic Inc. (Ticker WISH) ein 8-K ein, in dem eine zweite geänderte und neu gefasste Vereinbarung und Reorganisationsplan angekündigt wurde. Die einzige wesentliche Änderung reagiert auf die Empfehlung von Institutional Shareholder Services (ISS), dass Aktionäre gegen den ursprünglichen Vorschlag stimmen sollten: Die 4,9%igen ܲú±ð°ù³Ù°ù²¹²µ³Ü²Ô²µ²õ²ú±ð²õ³¦³ó°ùä²Ô°ì³Ü²Ô²µ±ð²Ô für Aktien nach der Reorganisation werden nun spätestens am dritten Jahrestag des Inkrafttretens der Reorganisation auslaufen. Die überarbeitete Definition ist in Artikel XIV der Satzung von Easter Parent, Inc. verankert.

Die Änderung, über die auf der Hauptversammlung am 10. Juli 2025 abgestimmt wird, gilt als genehmigt, wenn die Aktionäre für den Reorganisationsvorschlag stimmen. Wirtschaftliche Bedingungen, Gegenleistungen oder Elemente der Kapitalstruktur wurden nicht geändert. ContextLogic beabsichtigt zudem, weitere Aktionärsinformationen (Anlage 99.1) zu verteilen, um Unterstützung zu werben.

Wichtige Erkenntnisse für Investoren

  • Die zeitlich begrenzte Auslaufregelung beseitigt direkt den Hauptvorbehalt von ISS und erhöht die Wahrscheinlichkeit einer positiven Empfehlung durch den Proxy-Berater und der Zustimmung.
  • Liquiditätsbedenken werden teilweise gemindert; Inhaber können nach drei Jahren einen Anteil von mehr als 4,9% halten.
  • Die Einreichung enthält keine neuen Finanzkennzahlen; daher bleibt die kurzfristige Bewertung unverändert.
  • Die vollständigen Texte der geänderten Vereinbarung (Anlage 2.1) und der Satzung (Anlage 3.1) sind durch Verweis eingebunden.
Positive
  • Transfer restrictions now automatically expire after three years, directly addressing ISS’s objection and improving likelihood of shareholder approval.
  • Boards of all parties swiftly amended the agreement, demonstrating responsiveness to governance feedback and reducing execution risk.
Negative
  • Ownership is still capped at 4.9% until the three-year sunset, which may deter strategic investors and limit liquidity in the near term.
  • No additional financial or valuation data were provided, leaving investors without updated economic context for the reorganization.

Insights

TL;DR Time-boxed transfer cap removes ISS hurdle, materially improving governance optics and passage odds—net positive, no financial dilution.

Detail: ISS’s “against� recommendation threatened the reorganization vote. By adding a hard three-year sunset, the board demonstrates responsiveness to shareholder-advisory concerns, aligning protective tax provisions with market-standard timelines. This should shift ISS (and Glass Lewis) to a neutral or supportive stance, materially increasing the probability that retail and indexed investors back the deal. Because no valuation terms changed, upside is chiefly in smoothing the transaction path rather than altering cash flows. Risk: transfer limits persist for three years, still constraining block accumulations and possibly depressing liquidity in the interim.

TL;DR Structural tweak is procedural; economic deal terms unchanged—impact modest but directionally positive.

The amendment is narrowly scoped, leaving consideration, exchange ratios, and strategic rationale intact. As such, deal economics and projected synergies stay neutral. However, mitigating governance friction lowers execution risk, a meaningful benefit in small-cap transactions where failed votes can be costly. No new cost disclosures or financing updates were provided, so overall investor value remains driven by previously disclosed metrics.

Il 3 luglio 2025, ContextLogic Inc. (ticker WISH) ha depositato un 8-K annunciando un Secondo Accordo Modificato e Ristabilito e Piano di Riorganizzazione. L'unica modifica sostanziale risponde alla raccomandazione di Institutional Shareholder Services (ISS) affinché gli azionisti votassero contro la proposta originale: le Restrizioni di Trasferimento del 4,9% sulle azioni post-riorganizzazione scadranno ora non oltre il terzo anniversario dell'entrata in vigore della riorganizzazione. La nuova definizione è inserita nell'Articolo XIV dello statuto di Easter Parent, Inc.

L'emendamento, che sarà sottoposto a votazione durante l'Assemblea Annuale del 10 luglio 2025, sarà considerato approvato se gli azionisti voteranno “A FAVORE� della proposta di riorganizzazione. Non sono stati modificati termini economici, considerazioni o elementi della struttura del capitale. ContextLogic intende inoltre distribuire ulteriori comunicazioni agli azionisti (Esibizione 99.1) per sollecitare il loro sostegno.

Punti chiave per gli investitori

  • La scadenza temporanea elimina direttamente l'obiezione principale di ISS, aumentando la probabilità di una raccomandazione favorevole da parte del consulente per il voto e l'approvazione della proposta.
  • Le preoccupazioni sulla liquidità sono parzialmente mitigate; i detentori potranno superare il 4,9% di proprietà dopo tre anni.
  • Il deposito non contiene nuove metriche finanziarie; pertanto la valutazione a breve termine rimane invariata.
  • I testi completi dell'accordo modificato (Esibizione 2.1) e dello statuto (Esibizione 3.1) sono incorporati per riferimento.

El 3 de julio de 2025, ContextLogic Inc. (símbolo WISH) presentó un 8-K anunciando un Segundo Acuerdo Enmendado y Reexpresado y Plan de Reorganización. El único cambio material responde a la recomendación de Institutional Shareholder Services (ISS) para que los accionistas votaran en contra de la propuesta original: las Restricciones de Transferencia del 4.9% sobre las acciones posteriores a la reorganización ahora expirarán a más tardar en el tercer aniversario de la efectividad de la reorganización. La definición revisada está incluida en el Artículo XIV del certificado de incorporación de Easter Parent, Inc.

La enmienda, que será votada en la Junta Anual del 10 de julio de 2025, se considerará aprobada si los accionistas votan “A FAVOR� de la Propuesta de Reorganización. No se modificaron términos económicos, consideraciones ni elementos de la estructura de capital. ContextLogic también planea distribuir comunicaciones adicionales a los accionistas (Exhibición 99.1) para fomentar el apoyo.

Puntos clave para inversores

  • La limitación temporal elimina directamente la principal objeción de ISS, aumentando la probabilidad de una recomendación favorable del asesor de voto y la aprobación.
  • Las preocupaciones sobre liquidez se mitigan parcialmente; los titulares podrán superar el 4.9% de propiedad después de tres años.
  • La presentación no contiene nuevas métricas financieras; por lo tanto, la valoración a corto plazo permanece sin cambios.
  • Los textos completos del acuerdo enmendado (Exhibición 2.1) y del certificado (Exhibición 3.1) están incorporados por referencia.

2025ë…� 7ì›� 3ì�, ContextLogic Inc. (티커 WISH)ëŠ� 8-Kë¥� 제출하여 ë‘� 번째 수정 ë°� ìž¬ìž‘ì„±ëœ í•©ì˜ ë°� 재조ì§� 계íšì� 발표했습니다. 유ì¼í•� 주요 ë³€ê²� ì‚¬í•­ì€ Institutional Shareholder Services(ISS)ê°€ 주주들ì—ê²� ì›ëž˜ 제안ì—� 대í•� 반대 투표í•� ê²ƒì„ ê¶Œê³ í•� ë� 대í•� 대ì‘으ë¡�, 재조ì§� í›� 주ì‹ì—� 대í•� 4.9%ì� ì–‘ë„ ì œí•œì� ì´ì œ 재조ì§� 발효ì¼ë¡œë¶€í„� 최대 3주년까지 만료ë©ë‹ˆë‹�. 수정ë� ì •ì˜ëŠ� Easter Parent, Inc.ì� ì •ê´€ ì �14ì¡°ì— í¬í•¨ë˜ì–´ 있습니다.

ì� ìˆ˜ì •ì•ˆì€ 2025ë…� 7ì›� 10ì� ì—°ë¡€ ì´íšŒì—서 투표ë� 예정ì´ë©°, ì£¼ì£¼ë“¤ì´ ìž¬ì¡°ì§� 제안ì—� 대í•� “찬성â€� 투표í•� 경우 승ì¸ë� 것으ë¡� 간주ë©ë‹ˆë‹�. 경제ì � ì¡°ê±´, 대가 ë˜ëŠ” ìžë³¸ 구조 요소ëŠ� 변경ë˜ì§€ 않았습니ë‹�. ContextLogicì€ ë˜í•œ 추가 주주 커뮤니케ì´ì…˜(전시ë¬� 99.1)ì� ë°°í¬í•˜ì—¬ 지지ë¥� 촉구í•� 계íšìž…니ë‹�.

주요 투ìžìž� ìš”ì 

  • 기간 한정 만료 ì¡°í•­ì€ ISSì� ì£¼ëœ ë°˜ëŒ€ ì´ìœ ë¥� ì§ì ‘ 해소하여 ê¸ì •ì ì¸ ì˜ê²°ê¶� ìžë¬¸ 추천 ë°� 통과 가능성ì� 높입니다.
  • 유ë™ì„� 우려가 ì¼ë¶€ 완화ë˜ë©°, 보유ìžëŠ” 3ë…� í›� 4.9% ì´ìƒì� ì§€ë¶„ì„ ê°€ì§� ìˆ� 있습니다.
  • 제출 서류ì—는 새로ìš� 재무 ì§€í‘�ê°€ í¬í•¨ë˜ì–´ 있지 않아 단기 í‰ê°€ì—는 변화가 없습니다.
  • 수정ë� í•©ì˜ì„� 전문(전시ë¬� 2.1)ê³� ì •ê´€ 전문(전시ë¬� 3.1)ì€ ì°¸ì¡°ë¡� í¬í•¨ë˜ì–´ 있습니다.

Le 3 juillet 2025, ContextLogic Inc. (symbole WISH) a déposé un 8-K annonçant un Deuxième Accord Modifié et Révisé et Plan de Réorganisation. Le seul changement majeur répond à la recommandation d'Institutional Shareholder Services (ISS) invitant les actionnaires à voter contre la proposition initiale : les restrictions de transfert de 4,9 % sur les actions post-réorganisation expireront désormais au plus tard à la troisième année suivant l'entrée en vigueur de la réorganisation. La définition révisée est intégrée à l'article XIV des statuts d'Easter Parent, Inc.

L'amendement, qui sera soumis au vote lors de l'assemblée annuelle du 10 juillet 2025, sera considéré comme approuvé si les actionnaires votent « POUR » la proposition de réorganisation. Aucun terme économique, considération ou élément de structure du capital n'a été modifié. ContextLogic prévoit également de diffuser des communications supplémentaires aux actionnaires (Exhibit 99.1) pour encourager leur soutien.

Points clés pour les investisseurs

  • La limitation dans le temps supprime directement l'objection principale d'ISS, augmentant ainsi la probabilité d'une recommandation favorable du conseiller en vote et de l'adoption.
  • Les préoccupations concernant la liquidité sont partiellement atténuées ; les détenteurs pourront dépasser 4,9 % de propriété après trois ans.
  • Le dépôt ne contient aucune nouvelle métrique financière ; par conséquent, la valorisation à court terme reste inchangée.
  • Les textes complets de l'accord modifié (Exhibit 2.1) et des statuts (Exhibit 3.1) sont incorporés par référence.

Am 3. Juli 2025 reichte ContextLogic Inc. (Ticker WISH) ein 8-K ein, in dem eine zweite geänderte und neu gefasste Vereinbarung und Reorganisationsplan angekündigt wurde. Die einzige wesentliche Änderung reagiert auf die Empfehlung von Institutional Shareholder Services (ISS), dass Aktionäre gegen den ursprünglichen Vorschlag stimmen sollten: Die 4,9%igen ܲú±ð°ù³Ù°ù²¹²µ³Ü²Ô²µ²õ²ú±ð²õ³¦³ó°ùä²Ô°ì³Ü²Ô²µ±ð²Ô für Aktien nach der Reorganisation werden nun spätestens am dritten Jahrestag des Inkrafttretens der Reorganisation auslaufen. Die überarbeitete Definition ist in Artikel XIV der Satzung von Easter Parent, Inc. verankert.

Die Änderung, über die auf der Hauptversammlung am 10. Juli 2025 abgestimmt wird, gilt als genehmigt, wenn die Aktionäre für den Reorganisationsvorschlag stimmen. Wirtschaftliche Bedingungen, Gegenleistungen oder Elemente der Kapitalstruktur wurden nicht geändert. ContextLogic beabsichtigt zudem, weitere Aktionärsinformationen (Anlage 99.1) zu verteilen, um Unterstützung zu werben.

Wichtige Erkenntnisse für Investoren

  • Die zeitlich begrenzte Auslaufregelung beseitigt direkt den Hauptvorbehalt von ISS und erhöht die Wahrscheinlichkeit einer positiven Empfehlung durch den Proxy-Berater und der Zustimmung.
  • Liquiditätsbedenken werden teilweise gemindert; Inhaber können nach drei Jahren einen Anteil von mehr als 4,9% halten.
  • Die Einreichung enthält keine neuen Finanzkennzahlen; daher bleibt die kurzfristige Bewertung unverändert.
  • Die vollständigen Texte der geänderten Vereinbarung (Anlage 2.1) und der Satzung (Anlage 3.1) sind durch Verweis eingebunden.
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).
X
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*
GARCIA ERNEST C. III

(Last) (First) (Middle)
C/O CARVANA CO.
300 E. RIO SALADO PARKWAY

(Street)
TEMPE AZ 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)
X Director X 10% Owner
X Officer (give title below) Other (specify below)
Chief Executive Officer
3. Date of Earliest Transaction (Month/Day/Year)
07/02/2025
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)
Code V Amount (A) or (D) Price
Class A Common Stock 07/02/2025 S 807(1) D $342.41(2) 693,352 I Ernest Irrevocable 2004 Trust III(3)
Class A Common Stock 07/02/2025 S 808(1) D $342.99(4) 793,352 I Ernest C. Garcia III Multi-Generational Trust III(5)
Class A Common Stock 07/02/2025 S 905(1) D $343.54(6) 692,447 I Ernest Irrevocable 2004 Trust III(3)
Class A Common Stock 07/02/2025 S 905(1) D $343.54(6) 792,447 I Ernest C. Garcia III Multi-Generational Trust III(5)
Class A Common Stock 07/02/2025 S 344(1) D $344.53(7) 692,103 I Ernest Irrevocable 2004 Trust III(3)
Class A Common Stock 07/02/2025 S 344(1) D $344.53(7) 792,103 I Ernest C. Garcia III Multi-Generational Trust III(5)
Class A Common Stock 07/02/2025 S 492(1) D $345.58(8) 691,611 I Ernest Irrevocable 2004 Trust III(3)
Class A Common Stock 07/02/2025 S 492(1) D $345.58(8) 791,611 I Ernest C. Garcia III Multi-Generational Trust III(5)
Class A Common Stock 07/02/2025 S 171(1) D $346.91(9) 691,440 I Ernest Irrevocable 2004 Trust III(3)
Class A Common Stock 07/02/2025 S 171(1) D $346.91(9) 791,440 I Ernest C. Garcia III Multi-Generational Trust III(5)
Class A Common Stock 924,384 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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. The reported sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 13, 2024.
2. This transaction was executed in multiple trades at prices ranging from $342.14 to $342.79 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.
3. These shares of Class A Common Stock are held directly by the Ernest Irrevocable 2004 Trust III (the "Irrevocable Trust"). The Reporting Person is the Investment Trustee and Co-Administrative Trustee of the Irrevocable Trust.
4. This transaction was executed in multiple trades at prices ranging from $342.79 to $343.14 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. These shares of Class A Common Stock are held directly by the Ernest C. Garcia III Multi-Generational Trust III (the "Multi-Generational Trust"). The Reporting Person is the Investment Trustee and Co-Administrative Trustee of the Multi-Generational Trust.
6. This transaction was executed in multiple trades at prices ranging from $343.20 to $344.16 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 $344.26 to $345.11 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 $345.28 to $346.00 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 $346.47 to $347.21 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.
Remarks:
/s/ Paul Breaux, by Power of Attorney for Ernest C. Garcia, III 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.

FAQ

What did ContextLogic (WISH) change in the reorganization agreement?

The Board added a clause stating that the 4.9% ownership transfer restriction will expire no later than three years after the reorganization becomes effective.

Why was the amendment necessary?

Institutional Shareholder Services recommended voting against the deal because the transfer restriction had no sunset; the three-year limit removes that concern.

Does the amendment affect the economic terms of the deal?

No. The filing states that no valuation, consideration, or other economic provisions were altered.

When will shareholders vote on the revised proposal?

At the Annual Meeting scheduled for July 10, 2025.

What happens if shareholders approve the reorganization proposal?

Approval will also be deemed approval of the new "Expiration Date" definition; no further board action is required to implement it.

Where can investors read the full amended documents?

The Second A&R Agreement (Exhibit 2.1) and amended certificate (Exhibit 3.1) are available within the 8-K filing on the SEC’s EDGAR system.
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