may use a company-provided cellular phone; and each
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all outstanding vested stock options and time-based RSUs of that executive will become fully exercisable or vested. An executive
the Compensation and Nominating Committee approved the adoption of a “clawback” policy
and forfeiture of incentive awards in the event the executive engages in various types of conduct deemed detrimental
including theft or fraud against Carvana and engaging in competition with Carvana;
gross profit per unit ex-Gift and EBITDA margin ex-Gift as performance metrics
as described above under “Compensation Discussion and
we amended and restated Carvana Group’s existing
LLC Unitholders (and certain permitted transferees thereof) may exchange at any time their LLC Units for
we entered into several agreements with DriveTime and affiliated companies that were intended to facilitate our
subject to a minimum increase of 2% per year and a maximum increase of 5% per year. Total expense related to these lease
we entered into a lease with DriveTime that governs our utilization of office space and parking spaces at retail facilities that we
Carvana entered into a sublease agreement with DriveTime for an inspection and reconditioning center near Cleveland
and will further increase during each extension term over the then-current base rent by an amount equal to the percentage
with a maximum of 15% and a minimum of 10%.