Carvana, an industry pioneer for buying and selling cars online, announced that its Board of Directors approved a 5 for 1 split of its common stock. The split is designed to ensure that earning and buying whole shares of Carvana stock is within reach for all of its team members.
“This is the first split in Carvana’s history, and we believe it achieves the important goal of keeping our stock accessible to all of our team members,” said Mark Jenkins, Chief Financial Officer of Carvana. “This decision follows significant stock appreciation as Carvana reached new all-time records for units and profitability while continuing to lead the industry in growth in 2025.”
Carvana has a long history of company-wide equity and benefits programs. All tenured full time team members across all roles are eligible to earn equity through their years of service with Carvana. The company also offers a discounted Employee Stock Purchase Plan to encourage and facilitate long-term team member ownership.
“‘We’re all in this together’ is more than just a Carvana value; it is a reality of how we work and what makes us successful in delivering amazing customer experiences and in building toward our ambitious company goals. We’re proud to have an incredible team that truly owns outcomes and to give each team member an opportunity to participate in the value we create together over time,” said Ernie Garcia, Founder and CEO of Carvana.
Carvana intends to effect the stock split and a corresponding increase in authorized shares through an amendment of its Certificate of Incorporation, which will be submitted for approval of Carvana’s stockholders.
If stockholders approve the Certificate of Incorporation amendment at the company’s Annual Meeting of Stockholders on May 5, 2026, each record holder of Class A and Class B common stock as of the close of market on May 6 will receive four additional shares of common stock. No action by stockholders is required to receive the additional shares. Trading is expected to commence on a split-adjusted basis at the market open on May 7 under the company’s existing trading symbol “CVNA.”
