CVNA 2019 Proxy Statement

TABLE OF CONTENTS Commonly Asked Questions and Answers About the Annual Meeting........................................................ 1 Board of Directors and Corporate Governance............................................................................................. 5 ITEM 1—ELECTION OF DIRECTORS ................................................................................................. 8 Director Nominees .................................................................................................................................... 8 Continuing Directors ................................................................................................................................. 9 Independence Status ................................................................................................................................ 10 Controlled Company Status..................................................................................................................... 10 Board Meetings and Committees ............................................................................................................ 11 Board Leadership Structure..................................................................................................................... 13 Section 16(a) Beneficial Ownership Reporting Compliance. ................................................................. 14 Risk Oversight......................................................................................................................................... 14 Compensation Committee Interlocks and Insider Participation .............................................................. 15 Communications by Stockholders and Other Interested Parties with the Board of Directors................. 15 Director Compensation ........................................................................................................................... 15 Executive Officers....................................................................................................................................... 17 Compensation Discussion and Analysis ..................................................................................................... 19 Executive Summary ................................................................................................................................ 19 Compensation Objectives and Principles ................................................................................................ 22 Compensation Setting Process ................................................................................................................ 23 Competitiveness of Our Compensation Program.................................................................................... 24 Compensation Components..................................................................................................................... 24 Compensation-Related Policies............................................................................................................... 31 Compensation and Risk........................................................................................................................... 31 Tax and Accounting Implications............................................................................................................ 32 Compensation and Nominating Committee Report .................................................................................... 33 Compensation Tables .................................................................................................................................. 34 Summary Compensation Table................................................................................................................ 34 Grants of Plan-Based Awards .................................................................................................................. 35 Outstanding Equity Awards at 2018 Fiscal Year End .............................................................................. 36 Option Exercises and Stock Vested ......................................................................................................... 38 Potential Payments upon a Change of Control........................................................................................ 38 CEO Pay Ratio ........................................................................................................................................ 39 Certain Relationships and Related Party Transactions................................................................................ 39