SplitMay 6, 2026, 04:52 PM
Carvana Stockholders Approve 5-for-1 Forward Stock Split, Incentive Plan
AI Summary
Carvana Co. held its 2026 Annual Meeting, where stockholders approved a five-for-one forward stock split of Class A and Class B common stock, effective May 7, 2026. Trading on a split-adjusted basis is expected to begin on May 8, 2026. Stockholders also approved the 2026 Omnibus Incentive Plan, an amendment to increase authorized shares, the compensation of named executive officers, and ratified Grant Thornton LLP as the independent auditor. Michael Maroone and Neha Parikh were elected as Class III directors.
Key Highlights
- Stockholders approved a five-for-one forward stock split for Carvana's Class A and Class B common stock.
- The stock split will become effective on May 7, 2026, with split-adjusted trading expected to begin on May 8, 2026.
- An amendment to increase the number of authorized shares of Class A and Class B common stock was approved.
- The Carvana Co. 2026 Omnibus Incentive Plan was approved by stockholders with 730,926,830 votes For.
- Michael Maroone (800,290,111 For) and Neha Parikh (780,134,766 For) were elected as Class III directors.
- Stockholders approved the compensation of named executive officers with 803,726,520 votes For.
- Grant Thornton LLP was ratified as the independent auditor for 2026 with 820,578,537 votes For.