4Filing Date: Jan 5, 2026

Carvana (CVNA) 4: JENKINS MARK W. sold 887 shares of Class A Common Stock at… (Jan 5, 2026)

Statement of Changes in Beneficial Ownership

View SEC Filing
ACC: 0001700540-26-000002
Total Value$5.17M
Trades27
Insiders1

Transaction Details

JENKINS MARK W.
Chief Financial Officer·Direct
Exercise · Acquire
Class A Common Stock
Shares+750
Price$51.97
Total Value$39.0K
Shares Owned After216.79K
Transaction DateJan 2, 2026
10b5-1
Footnotes ▸

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.

JENKINS MARK W.
Chief Financial Officer·Direct
Sell · Dispose
Class A Common Stock
Shares-701
Price$397.27
Total Value$278.5K
Shares Owned After213.79K
Transaction DateJan 2, 2026
10b5-1
Footnotes ▸

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. | 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. | This transaction was executed in multiple trades at prices ranging from $396.85 to $397.78 inclusive.

JENKINS MARK W.
Chief Financial Officer·Direct
Sell · Dispose
Class A Common Stock
Shares-332
Price$403.53
Total Value$134.0K
Shares Owned After207.55K
Transaction DateJan 2, 2026
10b5-1
Footnotes ▸

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. | 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. | This transaction was executed in multiple trades at prices ranging from $403.06 to $403.97, inclusive.

JENKINS MARK W.
Chief Financial Officer·Direct
Sell · Dispose
Class A Common Stock
Shares-320
Price$404.54
Total Value$129.5K
Shares Owned After207.23K
Transaction DateJan 2, 2026
10b5-1
Footnotes ▸

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. | 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. | This transaction was executed in multiple trades at prices ranging from $404.07 to $405.03, inclusive.

JENKINS MARK W.
Chief Financial Officer·Direct
Sell · Dispose
Class A Common Stock
Shares-150
Price$410.13
Total Value$61.5K
Shares Owned After206.67K
Transaction DateJan 2, 2026
10b5-1
Footnotes ▸

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. | 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. | This transaction was executed in multiple trades at prices ranging from $409.74 to $410.36, inclusive.

JENKINS MARK W.
Chief Financial Officer·Direct
Sell · Dispose
Class A Common Stock
Shares-360
Price$417.85
Total Value$150.4K
Shares Owned After205.11K
Transaction DateJan 2, 2026
10b5-1
Footnotes ▸

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. | 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. | This transaction was executed in multiple trades at prices ranging from $417.18 to $418.17, inclusive.

JENKINS MARK W.
Chief Financial Officer·Direct
Sell · Dispose
Class A Common Stock
Shares-950
Price$419.53
Total Value$398.6K
Shares Owned After204.04K
Transaction DateJan 2, 2026
10b5-1
Footnotes ▸

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. | 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. | This transaction was executed in multiple trades at prices ranging from $419.43 to $420.15, inclusive.

JENKINS MARK W.
Chief Financial Officer·Direct
Exercise · Dispose
Stock Options (Right to Buy)Derivative
Shares-750
Price$0.00
Total Value$0
Shares Owned After20.85K
Transaction DateJan 2, 2026
ExpiresFeb 13, 2034
10b5-1
Footnotes ▸

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. | 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.

JENKINS MARK W.
Chief Financial Officer·Direct
Sell · Dispose
Class A Common Stock
Shares-1.12K
Price$401.62
Total Value$449.8K
Shares Owned After208.72K
Transaction DateJan 2, 2026
10b5-1
Footnotes ▸

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. | 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. | This transaction was executed in multiple trades at prices ranging from $400.97 to $401.95, inclusive.

JENKINS MARK W.
Chief Financial Officer·Direct
Sell · Dispose
Class A Common Stock
Shares-832
Price$402.44
Total Value$334.8K
Shares Owned After207.89K
Transaction DateJan 2, 2026
10b5-1
Footnotes ▸

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. | 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. | This transaction was executed in multiple trades at prices ranging from $401.99 to $402.98, inclusive.

JENKINS MARK W.
Chief Financial Officer·Direct
Sell · Dispose
Class A Common Stock
Shares-120
Price$407.14
Total Value$48.9K
Shares Owned After206.91K
Transaction DateJan 2, 2026
10b5-1
Footnotes ▸

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. | 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. | This transaction was executed in multiple trades at prices ranging from $407.13 to $407.16, inclusive.

JENKINS MARK W.
Chief Financial Officer·Direct
Sell · Dispose
Class A Common Stock
Shares-90
Price$409.07
Total Value$36.8K
Shares Owned After206.82K
Transaction DateJan 2, 2026
10b5-1
Footnotes ▸

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. | 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. | This transaction was executed in multiple trades at prices ranging from $408.59 to $409.52, inclusive.

JENKINS MARK W.
Chief Financial Officer·Direct
Sell · Dispose
Class A Common Stock
Shares-160
Price$416.26
Total Value$66.6K
Shares Owned After205.47K
Transaction DateJan 2, 2026
10b5-1
Footnotes ▸

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. | 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. | This transaction was executed in multiple trades at prices ranging from $416.17 to $416.35, inclusive.

JENKINS MARK W.
Chief Financial Officer·Direct
Exercise · Dispose
Stock Options (Right to Buy)Derivative
Shares-2.00K
Price$0.00
Total Value$0
Shares Owned After54.70K
Transaction DateJan 2, 2026
ExpiresJan 24, 2034
10b5-1
Footnotes ▸

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. | 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.

JENKINS MARK W.
Chief Financial Officer·Direct
Exercise · Acquire
Class A Common Stock
Shares+2.00K
Price$42.03
Total Value$84.1K
Shares Owned After216.04K
Transaction DateJan 2, 2026
10b5-1
Footnotes ▸

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.

JENKINS MARK W.
Chief Financial Officer·Direct
Sell · Dispose
Class A Common Stock
Shares-370
Price$393.77
Total Value$145.7K
Shares Owned After215.70K
Transaction DateJan 2, 2026
10b5-1
Footnotes ▸

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. | 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. | This transaction was executed in multiple trades at prices ranging from $393.35 to $394.27, inclusive.

JENKINS MARK W.
Chief Financial Officer·Direct
Sell · Dispose
Class A Common Stock
Shares-600
Price$395.13
Total Value$237.1K
Shares Owned After215.10K
Transaction DateJan 2, 2026
10b5-1
Footnotes ▸

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. | 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. | This transaction was executed in multiple trades at prices ranging from $394.60 to $395.56, inclusive.

JENKINS MARK W.
Chief Financial Officer·Direct
Sell · Dispose
Class A Common Stock
Shares-1.76K
Price$399.35
Total Value$702.9K
Shares Owned After211.35K
Transaction DateJan 2, 2026
10b5-1
Footnotes ▸

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. | 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. | This transaction was executed in multiple trades at prices ranging from $398.92 to $399.86, inclusive.

JENKINS MARK W.
Chief Financial Officer·Direct
Sell · Dispose
Class A Common Stock
Shares-1.52K
Price$400.46
Total Value$607.5K
Shares Owned After209.84K
Transaction DateJan 2, 2026
10b5-1
Footnotes ▸

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. | 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. | This transaction was executed in multiple trades at prices ranging from $399.96 to $400.93, inclusive.

JENKINS MARK W.
Chief Financial Officer·Direct
Sell · Dispose
Class A Common Stock
Shares-200
Price$405.52
Total Value$81.1K
Shares Owned After207.03K
Transaction DateJan 2, 2026
10b5-1
Footnotes ▸

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. | 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. | This transaction was executed in multiple trades at prices ranging from $405.13 to $405.79, inclusive.

JENKINS MARK W.
Chief Financial Officer·Direct
Exercise · Acquire
Class A Common Stock
Shares+10.00K
Price$10.07
Total Value$100.7K
Shares Owned After214.04K
Transaction DateJan 2, 2026
10b5-1
Footnotes ▸

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.

JENKINS MARK W.
Chief Financial Officer·Direct
Sell · Dispose
Class A Common Stock
Shares-280
Price$391.79
Total Value$109.7K
Shares Owned After216.51K
Transaction DateJan 2, 2026
10b5-1
Footnotes ▸

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. | 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. | This transaction was executed in multiple trades at prices ranging from $391.19 to $392.08, inclusive.

JENKINS MARK W.
Chief Financial Officer·Direct
Sell · Dispose
Class A Common Stock
Shares-440
Price$392.62
Total Value$172.8K
Shares Owned After216.07K
Transaction DateJan 2, 2026
10b5-1
Footnotes ▸

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. | 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. | This transaction was executed in multiple trades at prices ranging from $392.19 to $393.06, inclusive.

JENKINS MARK W.
Chief Financial Officer·Direct
Sell · Dispose
Class A Common Stock
Shares-680
Price$398.40
Total Value$270.9K
Shares Owned After213.12K
Transaction DateJan 2, 2026
10b5-1
Footnotes ▸

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. | 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. | This transaction was executed in multiple trades at prices ranging from $397.91 to $398.88, inclusive.

JENKINS MARK W.
Chief Financial Officer·Direct
Sell · Dispose
Class A Common Stock
Shares-368
Price$414.27
Total Value$152.5K
Shares Owned After205.91K
Transaction DateJan 2, 2026
10b5-1
Footnotes ▸

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. | 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. | This transaction was executed in multiple trades at prices ranging from $413.93 to $414.66, inclusive.

JENKINS MARK W.
Chief Financial Officer·Direct
Exercise · Dispose
Stock Options (Right to Buy)Derivative
Shares-10.00K
Price$0.00
Total Value$0
Shares Owned After168.51K
Transaction DateJan 2, 2026
ExpiresFeb 22, 2033
10b5-1
Footnotes ▸

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. | 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.

JENKINS MARK W.
Chief Financial Officer·Direct
Tax W/H · Dispose
Class A Common Stock
Shares-887
Price$422.02
Total Value$374.3K
Shares Owned After204.04K
Transaction DateJan 1, 2026
10b5-1
Footnotes ▸

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.

Post-Transaction Holdings

JENKINS MARK W. · Chief Financial Officer
SecuritySharesChange
Class A Common Stock216.79K+513 (0.24%)
Stock Options (Right to Buy)20.85K-12.75K (-37.95%)
Original SEC Filing Textexpand_more
=== SEC Form 4 — Statement of Changes in Beneficial Ownership === Document Type: 4 Period of Report: 2026-01-01 10b5-1 Pre-arranged Plan: Yes --- Issuer --- Name: CARVANA CO. (CVNA) CIK: 0001690820 --- Reporting Owner --- Name: JENKINS MARK W. CIK: 0001700540 Role: Officer (Chief Financial Officer) --- Non-Derivative Transactions --- [Transaction #1] Security: Class A Common Stock Date: 2026-01-01 | Code: F (Payment of exercise/tax) Shares: -887 | Price: $422.02 Total Value: $374,331.74 Shares Owned After: 204,036 | Ownership: D (Direct) Footnotes: [F1] 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. [Transaction #2] Security: Class A Common Stock Date: 2026-01-02 | Code: M (Exercise of derivative) Shares: +10,000 | Price: $10.07 Total Value: $100,700.00 Shares Owned After: 214,036 | Ownership: D (Direct) Footnotes: [F2] 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. [Transaction #3] Security: Class A Common Stock Date: 2026-01-02 | Code: M (Exercise of derivative) Shares: +2,000 | Price: $42.03 Total Value: $84,060.00 Shares Owned After: 216,036 | Ownership: D (Direct) Footnotes: [F2] 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. [Transaction #4] Security: Class A Common Stock Date: 2026-01-02 | Code: M (Exercise of derivative) Shares: +750 | Price: $51.97 Total Value: $38,977.50 Shares Owned After: 216,786 | Ownership: D (Direct) Footnotes: [F2] 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. [Transaction #5] Security: Class A Common Stock Date: 2026-01-02 | Code: S (Open market sale) Shares: -280 | Price: $391.79 Total Value: $109,701.20 Shares Owned After: 216,506 | Ownership: D (Direct) Footnotes: [F2] 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. [F3] 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. [F4] This transaction was executed in multiple trades at prices ranging from $391.19 to $392.08, inclusive. [Transaction #6] Security: Class A Common Stock Date: 2026-01-02 | Code: S (Open market sale) Shares: -440 | Price: $392.62 Total Value: $172,752.80 Shares Owned After: 216,066 | Ownership: D (Direct) Footnotes: [F2] 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. [F3] 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. [F5] This transaction was executed in multiple trades at prices ranging from $392.19 to $393.06, inclusive. [Transaction #7] Security: Class A Common Stock Date: 2026-01-02 | Code: S (Open market sale) Shares: -370 | Price: $393.77 Total Value: $145,694.90 Shares Owned After: 215,696 | Ownership: D (Direct) Footnotes: [F2] 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. [F3] 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. [F6] This transaction was executed in multiple trades at prices ranging from $393.35 to $394.27, inclusive. [Transaction #8] Security: Class A Common Stock Date: 2026-01-02 | Code: S (Open market sale) Shares: -600 | Price: $395.13 Total Value: $237,078.00 Shares Owned After: 215,096 | Ownership: D (Direct) Footnotes: [F2] 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. [F3] 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. [F7] This transaction was executed in multiple trades at prices ranging from $394.60 to $395.56, inclusive. [Transaction #9] Security: Class A Common Stock Date: 2026-01-02 | Code: S (Open market sale) Shares: -600 | Price: $396.08 Total Value: $237,648.00 Shares Owned After: 214,496 | Ownership: D (Direct) Footnotes: [F2] 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. [F3] 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. [F8] This transaction was executed in multiple trades at prices ranging from $395.79 to $396.54, inclusive. [Transaction #10] Security: Class A Common Stock Date: 2026-01-02 | Code: S (Open market sale) Shares: -701 | Price: $397.27 Total Value: $278,486.27 Shares Owned After: 213,795 | Ownership: D (Direct) Footnotes: [F2] 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. [F3] 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. [F9] This transaction was executed in multiple trades at prices ranging from $396.85 to $397.78 inclusive. [Transaction #11] Security: Class A Common Stock Date: 2026-01-02 | Code: S (Open market sale) Shares: -680 | Price: $398.40 Total Value: $270,912.00 Shares Owned After: 213,115 | Ownership: D (Direct) Footnotes: [F2] 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. [F3] 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. [F10] This transaction was executed in multiple trades at prices ranging from $397.91 to $398.88, inclusive. [Transaction #12] Security: Class A Common Stock Date: 2026-01-02 | Code: S (Open market sale) Shares: -1,760 | Price: $399.35 Total Value: $702,856.00 Shares Owned After: 211,355 | Ownership: D (Direct) Footnotes: [F2] 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. [F3] 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. [F11] This transaction was executed in multiple trades at prices ranging from $398.92 to $399.86, inclusive. [Transaction #13] Security: Class A Common Stock Date: 2026-01-02 | Code: S (Open market sale) Shares: -1,517 | Price: $400.46 Total Value: $607,497.82 Shares Owned After: 209,838 | Ownership: D (Direct) Footnotes: [F2] 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. [F3] 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. [F12] This transaction was executed in multiple trades at prices ranging from $399.96 to $400.93, inclusive. [Transaction #14] Security: Class A Common Stock Date: 2026-01-02 | Code: S (Open market sale) Shares: -1,120 | Price: $401.62 Total Value: $449,814.40 Shares Owned After: 208,718 | Ownership: D (Direct) Footnotes: [F2] 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. [F3] 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. [F13] This transaction was executed in multiple trades at prices ranging from $400.97 to $401.95, inclusive. [Transaction #15] Security: Class A Common Stock Date: 2026-01-02 | Code: S (Open market sale) Shares: -832 | Price: $402.44 Total Value: $334,830.08 Shares Owned After: 207,886 | Ownership: D (Direct) Footnotes: [F2] 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. [F3] 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. [F14] This transaction was executed in multiple trades at prices ranging from $401.99 to $402.98, inclusive. [Transaction #16] Security: Class A Common Stock Date: 2026-01-02 | Code: S (Open market sale) Shares: -332 | Price: $403.53 Total Value: $133,971.96 Shares Owned After: 207,554 | Ownership: D (Direct) Footnotes: [F2] 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. [F3] 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. [F15] This transaction was executed in multiple trades at prices ranging from $403.06 to $403.97, inclusive. [Transaction #17] Security: Class A Common Stock Date: 2026-01-02 | Code: S (Open market sale) Shares: -320 | Price: $404.54 Total Value: $129,452.80 Shares Owned After: 207,234 | Ownership: D (Direct) Footnotes: [F2] 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. [F3] 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. [F16] This transaction was executed in multiple trades at prices ranging from $404.07 to $405.03, inclusive. [Transaction #18] Security: Class A Common Stock Date: 2026-01-02 | Code: S (Open market sale) Shares: -200 | Price: $405.52 Total Value: $81,104.00 Shares Owned After: 207,034 | Ownership: D (Direct) Footnotes: [F2] 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. [F3] 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. [F17] This transaction was executed in multiple trades at prices ranging from $405.13 to $405.79, inclusive. [Transaction #19] Security: Class A Common Stock Date: 2026-01-02 | Code: S (Open market sale) Shares: -120 | Price: $407.14 Total Value: $48,856.80 Shares Owned After: 206,914 | Ownership: D (Direct) Footnotes: [F2] 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. [F3] 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. [F18] This transaction was executed in multiple trades at prices ranging from $407.13 to $407.16, inclusive. [Transaction #20] Security: Class A Common Stock Date: 2026-01-02 | Code: S (Open market sale) Shares: -90 | Price: $409.07 Total Value: $36,816.30 Shares Owned After: 206,824 | Ownership: D (Direct) Footnotes: [F2] 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. [F3] 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. [F19] This transaction was executed in multiple trades at prices ranging from $408.59 to $409.52, inclusive. [Transaction #21] Security: Class A Common Stock Date: 2026-01-02 | Code: S (Open market sale) Shares: -150 | Price: $410.13 Total Value: $61,519.50 Shares Owned After: 206,674 | Ownership: D (Direct) Footnotes: [F2] 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. [F3] 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. [F20] This transaction was executed in multiple trades at prices ranging from $409.74 to $410.36, inclusive. [Transaction #22] Security: Class A Common Stock Date: 2026-01-02 | Code: S (Open market sale) Shares: -200 | Price: $411.68 Total Value: $82,336.00 Shares Owned After: 206,474 | Ownership: D (Direct) Footnotes: [F2] 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. [F3] 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. [F21] This transaction was executed in multiple trades at prices ranging from $411.54 to $411.90, inclusive. [Transaction #23] Security: Class A Common Stock Date: 2026-01-02 | Code: S (Open market sale) Shares: -200 | Price: $413.16 Total Value: $82,632.00 Shares Owned After: 206,274 | Ownership: D (Direct) Footnotes: [F2] 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. [F3] 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. [F22] This transaction was executed in multiple trades at prices ranging from $412.86 to $413.79, inclusive. [Transaction #24] Security: Class A Common Stock Date: 2026-01-02 | Code: S (Open market sale) Shares: -368 | Price: $414.27 Total Value: $152,451.36 Shares Owned After: 205,906 | Ownership: D (Direct) Footnotes: [F2] 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. [F3] 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. [F23] This transaction was executed in multiple trades at prices ranging from $413.93 to $414.66, inclusive. [Transaction #25] Security: Class A Common Stock Date: 2026-01-02 | Code: S (Open market sale) Shares: -280 | Price: $415.21 Total Value: $116,258.80 Shares Owned After: 205,626 | Ownership: D (Direct) Footnotes: [F2] 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. [F3] 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. [F24] This transaction was executed in multiple trades at prices ranging from $414.94 to $415.79, inclusive. [Transaction #26] Security: Class A Common Stock Date: 2026-01-02 | Code: S (Open market sale) Shares: -160 | Price: $416.26 Total Value: $66,601.60 Shares Owned After: 205,466 | Ownership: D (Direct) Footnotes: [F2] 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. [F3] 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. [F25] This transaction was executed in multiple trades at prices ranging from $416.17 to $416.35, inclusive. [Transaction #27] Security: Class A Common Stock Date: 2026-01-02 | Code: S (Open market sale) Shares: -360 | Price: $417.85 Total Value: $150,426.00 Shares Owned After: 205,106 | Ownership: D (Direct) Footnotes: [F2] 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. [F3] 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. [F26] This transaction was executed in multiple trades at prices ranging from $417.18 to $418.17, inclusive. [Transaction #28] Security: Class A Common Stock Date: 2026-01-02 | Code: S (Open market sale) Shares: -120 | Price: $418.58 Total Value: $50,229.60 Shares Owned After: 204,986 | Ownership: D (Direct) Footnotes: [F2] 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. [F3] 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. [F27] This transaction was executed in multiple trades at prices ranging from $418.38 to $418.97, inclusive. [Transaction #29] Security: Class A Common Stock Date: 2026-01-02 | Code: S (Open market sale) Shares: -950 | Price: $419.53 Total Value: $398,553.50 Shares Owned After: 204,036 | Ownership: D (Direct) Footnotes: [F2] 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. [F3] 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. [F28] This transaction was executed in multiple trades at prices ranging from $419.43 to $420.15, inclusive. --- Derivative Transactions --- [Transaction #1] Security: Stock Options (Right to Buy) Date: 2026-01-02 | Code: M (Exercise of derivative) Shares: -10,000 | Price: $0.00 Exercisable: N/A | Expires: 2033-02-22 Shares Owned After: 168,513 | Ownership: D (Direct) Footnotes: [F2] 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. [F29] 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. [Transaction #2] Security: Stock Options (Right to Buy) Date: 2026-01-02 | Code: M (Exercise of derivative) Shares: -2,000 | Price: $0.00 Exercisable: N/A | Expires: 2034-01-24 Shares Owned After: 54,703 | Ownership: D (Direct) Footnotes: [F2] 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. [F30] 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. [Transaction #3] Security: Stock Options (Right to Buy) Date: 2026-01-02 | Code: M (Exercise of derivative) Shares: -750 | Price: $0.00 Exercisable: N/A | Expires: 2034-02-13 Shares Owned After: 20,846 | Ownership: D (Direct) Footnotes: [F2] 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. [F30] 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. --- Footnotes (Complete Index) --- F1: 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. F10: This transaction was executed in multiple trades at prices ranging from $397.91 to $398.88, inclusive. F11: This transaction was executed in multiple trades at prices ranging from $398.92 to $399.86, inclusive. F12: This transaction was executed in multiple trades at prices ranging from $399.96 to $400.93, inclusive. F13: This transaction was executed in multiple trades at prices ranging from $400.97 to $401.95, inclusive. F14: This transaction was executed in multiple trades at prices ranging from $401.99 to $402.98, inclusive. F15: This transaction was executed in multiple trades at prices ranging from $403.06 to $403.97, inclusive. F16: This transaction was executed in multiple trades at prices ranging from $404.07 to $405.03, inclusive. F17: This transaction was executed in multiple trades at prices ranging from $405.13 to $405.79, inclusive. F18: This transaction was executed in multiple trades at prices ranging from $407.13 to $407.16, inclusive. F19: This transaction was executed in multiple trades at prices ranging from $408.59 to $409.52, inclusive. F2: 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. F20: This transaction was executed in multiple trades at prices ranging from $409.74 to $410.36, inclusive. F21: This transaction was executed in multiple trades at prices ranging from $411.54 to $411.90, inclusive. F22: This transaction was executed in multiple trades at prices ranging from $412.86 to $413.79, inclusive. F23: This transaction was executed in multiple trades at prices ranging from $413.93 to $414.66, inclusive. F24: This transaction was executed in multiple trades at prices ranging from $414.94 to $415.79, inclusive. F25: This transaction was executed in multiple trades at prices ranging from $416.17 to $416.35, inclusive. F26: This transaction was executed in multiple trades at prices ranging from $417.18 to $418.17, inclusive. F27: This transaction was executed in multiple trades at prices ranging from $418.38 to $418.97, inclusive. F28: This transaction was executed in multiple trades at prices ranging from $419.43 to $420.15, inclusive. F29: 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. F3: 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. F30: 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. F4: This transaction was executed in multiple trades at prices ranging from $391.19 to $392.08, inclusive. F5: This transaction was executed in multiple trades at prices ranging from $392.19 to $393.06, inclusive. F6: This transaction was executed in multiple trades at prices ranging from $393.35 to $394.27, inclusive. F7: This transaction was executed in multiple trades at prices ranging from $394.60 to $395.56, inclusive. F8: This transaction was executed in multiple trades at prices ranging from $395.79 to $396.54, inclusive. F9: This transaction was executed in multiple trades at prices ranging from $396.85 to $397.78 inclusive. --- Signature --- /s/ /s/ Paul Breaux, by Power of Attorney for Mark W. Jenkins (2026-01-05)

keid analysis is for reference only and does not constitute investment advice.