Carvana Co. (NYSE:CVNA), the online car sales platform, on Friday announced that its board of directors has approved a 5-for-1 forward stock split.
The split, the first in Carvana’s history, is intended to make the stock more accessible to team members and shareholders. If approved by stockholders, each holder of Class A and Class B common stock as of May 6, 2026, would receive four additional shares for every share held.
Trading on a split-adjusted basis is expected to begin May 7 under the company's existing ticker symbol.
"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," Carvana’s chief financial officer Mark Jenkins said.
"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."
The stock split will be implemented pending stockholder approval of a corresponding amendment to Carvana’s Certificate of Incorporation at the company’s Annual Meeting on May 5, 2026. No action is required by stockholders to receive the additional shares.
Carvana also highlighted broad team member participation in equity ownership. The company offers long-tenured employees the opportunity to earn stock as part of its benefits programs, as well as a discounted Employee Stock Purchase Plan to encourage long-term ownership.
Following the announcement, Carvana’s shares were up about 1%, trading around $297.