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Walter Mark, et al. – ‘4’ for 12/3/21 re: Carvana Co.

On:  Monday, 12/6/21, at 7:54pm ET   ·   For:  12/3/21   ·   Accession #:  899243-21-47008   ·   File #:  1-38073

Previous ‘4’:  ‘4’ on 5/26/21 for 5/24/21   ·   Latest ‘4’:  This Filing

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

12/06/21  Walter Mark                       4                      1:18K  Carvana Co.                       Donnelley Fin’l S… 06/FA
          CVAN Holdings LLC
          Delaware Life Holdings Manager, LLC
          Delaware Life Holdings Parent, LLC
          Delaware Life Holdings Parent II, LLC

Statement of Changes in Beneficial Ownership of Securities by an Insider   —   Form 4   —   SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 4           Form 4 Submission -- doc4.xml/3.6                   HTML      3K


        

This ‘4’ Document is an XML Data File that may be rendered in various formats:

  Form 4    –   Plain Text   –  SEC Website  –  EDGAR System  –    XML Data    –  <?xml?> File
 
 
XML Data rendering:  Form 4 Submission
 
                                                                                                                                                                                
<?xml version="1.0" encoding="windows-1252"?>
<ownershipDocument>
<schemaVersion> X0306 </schemaVersion>
<documentType> 4 </documentType>
<periodOfReport> 2021-12-03 </periodOfReport>
<notSubjectToSection16> 1 </notSubjectToSection16>
<issuer>
<issuerCik> 0001690820 </issuerCik>
<issuerName> CARVANA CO. </issuerName>
<issuerTradingSymbol> CVNA </issuerTradingSymbol>
</issuer>
<reportingOwner>
<reportingOwnerId>
<rptOwnerCik> 0001705079 </rptOwnerCik>
<rptOwnerName> CVAN Holdings LLC </rptOwnerName>
</reportingOwnerId>
<reportingOwnerAddress>
<rptOwnerStreet1> 227 W. MONROE, SUITE 4800 </rptOwnerStreet1>
<rptOwnerStreet2></rptOwnerStreet2>
<rptOwnerCity> CHICAGO </rptOwnerCity>
<rptOwnerState> IL </rptOwnerState>
<rptOwnerZipCode> 60606 </rptOwnerZipCode>
<rptOwnerStateDescription></rptOwnerStateDescription>
</reportingOwnerAddress>
<reportingOwnerRelationship>
<isDirector> 0 </isDirector>
<isOfficer> 0 </isOfficer>
<isTenPercentOwner> 1 </isTenPercentOwner>
<isOther> 0 </isOther>
</reportingOwnerRelationship>
</reportingOwner>
<reportingOwner>
<reportingOwnerId>
<rptOwnerCik> 0001705178 </rptOwnerCik>
<rptOwnerName> Delaware Life Holdings Parent, LLC </rptOwnerName>
</reportingOwnerId>
<reportingOwnerAddress>
<rptOwnerStreet1> 227 WEST MONROE, SUITE 5000 </rptOwnerStreet1>
<rptOwnerStreet2></rptOwnerStreet2>
<rptOwnerCity> CHICAGO </rptOwnerCity>
<rptOwnerState> IL </rptOwnerState>
<rptOwnerZipCode> 60606 </rptOwnerZipCode>
<rptOwnerStateDescription></rptOwnerStateDescription>
</reportingOwnerAddress>
<reportingOwnerRelationship>
<isDirector> 0 </isDirector>
<isOfficer> 0 </isOfficer>
<isTenPercentOwner> 1 </isTenPercentOwner>
<isOther> 0 </isOther>
</reportingOwnerRelationship>
</reportingOwner>
<reportingOwner>
<reportingOwnerId>
<rptOwnerCik> 0001705179 </rptOwnerCik>
<rptOwnerName> Delaware Life Holdings Parent II, LLC </rptOwnerName>
</reportingOwnerId>
<reportingOwnerAddress>
<rptOwnerStreet1> 227 WEST MONROE, SUITE 5000 </rptOwnerStreet1>
<rptOwnerStreet2></rptOwnerStreet2>
<rptOwnerCity> CHICAGO </rptOwnerCity>
<rptOwnerState> IL </rptOwnerState>
<rptOwnerZipCode> 60606 </rptOwnerZipCode>
<rptOwnerStateDescription></rptOwnerStateDescription>
</reportingOwnerAddress>
<reportingOwnerRelationship>
<isDirector> 0 </isDirector>
<isOfficer> 0 </isOfficer>
<isTenPercentOwner> 1 </isTenPercentOwner>
<isOther> 0 </isOther>
</reportingOwnerRelationship>
</reportingOwner>
<reportingOwner>
<reportingOwnerId>
<rptOwnerCik> 0001705180 </rptOwnerCik>
<rptOwnerName> Delaware Life Holdings Manager, LLC </rptOwnerName>
</reportingOwnerId>
<reportingOwnerAddress>
<rptOwnerStreet1> 227 WEST MONROE, SUITE 5000 </rptOwnerStreet1>
<rptOwnerStreet2></rptOwnerStreet2>
<rptOwnerCity> CHICAGO </rptOwnerCity>
<rptOwnerState> IL </rptOwnerState>
<rptOwnerZipCode> 60606 </rptOwnerZipCode>
<rptOwnerStateDescription></rptOwnerStateDescription>
</reportingOwnerAddress>
<reportingOwnerRelationship>
<isDirector> 0 </isDirector>
<isOfficer> 0 </isOfficer>
<isTenPercentOwner> 1 </isTenPercentOwner>
<isOther> 0 </isOther>
</reportingOwnerRelationship>
</reportingOwner>
<reportingOwner>
<reportingOwnerId>
<rptOwnerCik> 0001705117 </rptOwnerCik>
<rptOwnerName> Walter Mark </rptOwnerName>
</reportingOwnerId>
<reportingOwnerAddress>
<rptOwnerStreet1> 227 WEST MONROE, SUITE 5000 </rptOwnerStreet1>
<rptOwnerStreet2></rptOwnerStreet2>
<rptOwnerCity> CHICAGO </rptOwnerCity>
<rptOwnerState> IL </rptOwnerState>
<rptOwnerZipCode> 60606 </rptOwnerZipCode>
<rptOwnerStateDescription></rptOwnerStateDescription>
</reportingOwnerAddress>
<reportingOwnerRelationship>
<isDirector> 0 </isDirector>
<isOfficer> 0 </isOfficer>
<isTenPercentOwner> 1 </isTenPercentOwner>
<isOther> 0 </isOther>
</reportingOwnerRelationship>
</reportingOwner>
<nonDerivativeTable>
<nonDerivativeTransaction>
<securityTitle>
<value> Class B Common Stock </value>
</securityTitle>
<transactionDate>
<value> 2021-12-03 </value>
</transactionDate>
<deemedExecutionDate></deemedExecutionDate>
<transactionCoding>
<transactionFormType> 4 </transactionFormType>
<transactionCode> C </transactionCode>
<equitySwapInvolved> 0 </equitySwapInvolved>
<footnoteId id="F1"/>
</transactionCoding>
<transactionTimeliness>
<value></value>
</transactionTimeliness>
<transactionAmounts>
<transactionShares>
<value> 4300000 </value>
<footnoteId id="F1"/>
</transactionShares>
<transactionPricePerShare>
<value> 0.00 </value>
</transactionPricePerShare>
<transactionAcquiredDisposedCode>
<value> D </value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<postTransactionAmounts>
<sharesOwnedFollowingTransaction>
<value> 8495376 </value>
<footnoteId id="F1"/>
<footnoteId id="F2"/>
<footnoteId id="F3"/>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature>
<directOrIndirectOwnership>
<value> D </value>
</directOrIndirectOwnership>
</ownershipNature>
</nonDerivativeTransaction>
<nonDerivativeTransaction>
<securityTitle>
<value> Class A Common Stock </value>
</securityTitle>
<transactionDate>
<value> 2021-12-03 </value>
</transactionDate>
<deemedExecutionDate></deemedExecutionDate>
<transactionCoding>
<transactionFormType> 4 </transactionFormType>
<transactionCode> C </transactionCode>
<equitySwapInvolved> 0 </equitySwapInvolved>
<footnoteId id="F1"/>
</transactionCoding>
<transactionTimeliness>
<value></value>
</transactionTimeliness>
<transactionAmounts>
<transactionShares>
<value> 4300000 </value>
</transactionShares>
<transactionPricePerShare>
<value> 0.00 </value>
</transactionPricePerShare>
<transactionAcquiredDisposedCode>
<value> A </value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<postTransactionAmounts>
<sharesOwnedFollowingTransaction>
<value> 5150000 </value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature>
<directOrIndirectOwnership>
<value> D </value>
</directOrIndirectOwnership>
</ownershipNature>
</nonDerivativeTransaction>
<nonDerivativeTransaction>
<securityTitle>
<value> Class A Common Stock </value>
</securityTitle>
<transactionDate>
<value> 2021-12-03 </value>
</transactionDate>
<deemedExecutionDate></deemedExecutionDate>
<transactionCoding>
<transactionFormType> 4 </transactionFormType>
<transactionCode> J </transactionCode>
<equitySwapInvolved> 0 </equitySwapInvolved>
<footnoteId id="F5"/>
</transactionCoding>
<transactionTimeliness>
<value></value>
</transactionTimeliness>
<transactionAmounts>
<transactionShares>
<value> 4300000 </value>
</transactionShares>
<transactionPricePerShare>
<value> 0.00 </value>
</transactionPricePerShare>
<transactionAcquiredDisposedCode>
<value> D </value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<postTransactionAmounts>
<sharesOwnedFollowingTransaction>
<value> 850000 </value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature>
<directOrIndirectOwnership>
<value> D </value>
</directOrIndirectOwnership>
</ownershipNature>
</nonDerivativeTransaction>
</nonDerivativeTable>
<derivativeTable>
<derivativeTransaction>
<securityTitle>
<value> Class A Common Units </value>
</securityTitle>
<conversionOrExercisePrice>
<value> 0.00 </value>
</conversionOrExercisePrice>
<transactionDate>
<value> 2021-12-03 </value>
</transactionDate>
<deemedExecutionDate></deemedExecutionDate>
<transactionCoding>
<transactionFormType> 4 </transactionFormType>
<transactionCode> C </transactionCode>
<equitySwapInvolved> 0 </equitySwapInvolved>
<footnoteId id="F1"/>
</transactionCoding>
<transactionTimeliness>
<value></value>
</transactionTimeliness>
<transactionAmounts>
<transactionShares>
<value> 5375000 </value>
<footnoteId id="F1"/>
<footnoteId id="F2"/>
</transactionShares>
<transactionPricePerShare>
<value> 0.00 </value>
</transactionPricePerShare>
<transactionAcquiredDisposedCode>
<value> D </value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<exerciseDate>
<footnoteId id="F4"/>
</exerciseDate>
<expirationDate>
<footnoteId id="F4"/>
</expirationDate>
<underlyingSecurity>
<underlyingSecurityTitle>
<value> Class A Common Stock </value>
</underlyingSecurityTitle>
<underlyingSecurityShares>
<value> 4300000 </value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts>
<sharesOwnedFollowingTransaction>
<value> 10619220 </value>
<footnoteId id="F1"/>
<footnoteId id="F3"/>
<footnoteId id="F4"/>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature>
<directOrIndirectOwnership>
<value> D </value>
</directOrIndirectOwnership>
</ownershipNature>
</derivativeTransaction>
<derivativeTransaction>
<securityTitle>
<value> Forward Sale Contract (obligation to sell) </value>
</securityTitle>
<conversionOrExercisePrice>
<footnoteId id="F5"/>
</conversionOrExercisePrice>
<transactionDate>
<value> 2021-12-03 </value>
</transactionDate>
<deemedExecutionDate></deemedExecutionDate>
<transactionCoding>
<transactionFormType> 4 </transactionFormType>
<transactionCode> J </transactionCode>
<equitySwapInvolved> 0 </equitySwapInvolved>
</transactionCoding>
<transactionTimeliness>
<value></value>
</transactionTimeliness>
<transactionAmounts>
<transactionShares>
<value> 4300000 </value>
</transactionShares>
<transactionPricePerShare>
<footnoteId id="F5"/>
</transactionPricePerShare>
<transactionAcquiredDisposedCode>
<value> D </value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<exerciseDate>
<footnoteId id="F5"/>
</exerciseDate>
<expirationDate>
<footnoteId id="F5"/>
</expirationDate>
<underlyingSecurity>
<underlyingSecurityTitle>
<value> Class A Common Stock </value>
</underlyingSecurityTitle>
<underlyingSecurityShares>
<value> 4300000 </value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts>
<sharesOwnedFollowingTransaction>
<value> 0 </value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature>
<directOrIndirectOwnership>
<value> D </value>
</directOrIndirectOwnership>
</ownershipNature>
</derivativeTransaction>
</derivativeTable>
<footnotes>
<footnote id="F1"> On December 3, 2021, CVAN Holdings, LLC ("CVAN") exchanged 5,375,000 Class A common units of Carvana Group, LLC ("Class A Units") and 4,300,000 shares of Class B common stock, par value $0.001 per share, of the Issuer (the "Class B Common Stock") for 4,300,000 shares of Class A common stock, par value $0.001 per share, of the Issuer (the "Class A Common Stock") pursuant to an exchange agreement entered into by and among the Issuer, CVAN and certain other holders of Class A Units immediately prior to the effectiveness of the Registration Statement on Form S-1 (File No. 333-217085) relating to the Issuer's initial public offering (the "Exchange Agreement"). </footnote>
<footnote id="F2"> The Exchange Agreement permits holders of Class A Units to exchange their Class A Units for shares of Class A Common Stock at a rate of four shares of Class A Common Stock for every five Class A Units being exchanged. Additionally, to the extent such holders of Class A Units also hold Class B Common Stock, they are required to deliver to the Issuer a number of shares of Class B Common Stock equal to the number of shares of Class A Common Stock being received in the exchange. </footnote>
<footnote id="F3"> CVAN is a wholly-owned subsidiary of Delaware Life Holdings Parent, LLC ("Parent I"). Parent I is a wholly-owned subsidiary Delaware Life Holdings Parent II, LLC ("Parent II"). Each of Parent I and Parent II is managed by Delaware Life Holdings Manager, LLC ("Manager") and each of Parent II and Manager is controlled by Mr. Mark Walter ("Mr. Walter"). Each of Parent I, Parent II, Manager and Mr. Walter may be deemed for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, to be the indirect beneficial owner of some or all of the shares owned by CVAN. </footnote>
<footnote id="F4"> The Class A Units are exchangeable for shares of Class A Common Stock at a rate of four shares of Class A Common Stock for every five Class A Units being exchanged, or at the Carvana Co. Sub LLC's election, for cash equal to the value of a share of Class A Common Stock multiplied by 0.8 times the number of Class A Units being exchanged. The Class A Units have no expiration date. </footnote>
<footnote id="F5"> On June 14, 2019, CVAN entered into a prepaid variable forward sale contract (as amended on September 30, 2021, the "VPF) with an unaffiliated third party (the "Counterparty"), the effectiveness of which was conditioned upon the satisfaction of certain conditions precedent. On December 3, 2021, CVAN and the Counterparty terminated the VPF. Pursuant to the terms of the termination, CVAN will pay to the Counterparty $1,800,000 and deliver 4,300,000 shares of Class A Common Stock. In order to satisfy its obligation to deliver 4,300,000 shares of Class A Comon Stock under the terms of the termination, CVAN has exchanged 5,375,000 Class A Units and 4,3000,000 shares of Class B Common Stock, that were previously pledged to the Counterparty under the terms of the prepaid variable forward sale contract, into 5,375,000 shares of Class A Common Stock. </footnote>
</footnotes>
<remarks></remarks>
<ownerSignature>
<signatureName> CVAN Holdings, LLC, By: /s/ Joe Nicosia, Vice President </signatureName>
<signatureDate> 2021-12-06 </signatureDate>
</ownerSignature>
<ownerSignature>
<signatureName> Delaware Life Holdings Parent, LLC, By: /s/ Joe Nicosia, Authorized Person </signatureName>
<signatureDate> 2021-12-06 </signatureDate>
</ownerSignature>
<ownerSignature>
<signatureName> Delaware Life Holdings Parent II, LLC, By: /s/ Joe Nicosia, Authorized Person </signatureName>
<signatureDate> 2021-12-06 </signatureDate>
</ownerSignature>
<ownerSignature>
<signatureName> Delaware Life Holdings Manager, LLC, By: /s/ Joe Nicosia, Authorized Person </signatureName>
<signatureDate> 2021-12-06 </signatureDate>
</ownerSignature>
<ownerSignature>
<signatureName> /s/ Mark Walter </signatureName>
<signatureDate> 2021-12-06 </signatureDate>
</ownerSignature>
</ownershipDocument>


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