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sole beneficiary of the Ernest Irrevocable 2004 Trust III and Mr. Garcia III and his children are the beneficiaries of the Ermest C. Garcia III Multi-
Generational Trust III. This information is based on the Form 4 filed with the SEC by Mr. Garcia II on February 27, 2019. Verde’s and Mr. Garcia
II’s address is 1720 W. Rio Salado Parkway, Suite A, Tempe, AZ 85281.
(3) This number includes 52,937,458 shares of Class B common stock owned directly by Mr. Garcia II; 8,000,000 shares of Class B common stock
owned by ECG III SPE, of which Mr. Garcia IT is the 100% owner; 2,860,439 shares of Class B common stock owned by DriveTime Sales and
Finance Company LLC. Mr. Garcia II is the chairman of the board of directors and largest stockholder of DriveTime, of which DriveTime Sales and
Finance Company LLC is a wholly owned subsidiary. This number also includes 11,952,000 shares of Class B common stock owned by the Emest
Irrevocable 2004 Trust II, of which Mr. Garcia III is the sole beneficiary, and 11,952,000 shares of Class B common stock owned by the Emest C.
Garcia III Multi-Generational Trust III, of which Mr. Garcia III is a beneficiary together with his children. While Ernest Garcia II is the investment
trustee over Ermest C. Garcia III Multi-Generational Trust II, the trust is irrevocable and he is not a beneficiary. While Ernest Garcia II and Ernest
Garcia III are the joint investment trustees over Ernest Irrevocable 2004 Trust III, the trust is irrevocable and Mr. Garcia II is not a beneficiary. These
shares of Class B common stock together with the corresponding LLC Units may be exchanged for 87,701,897 shares of Class A common stock.
These shares of Class A common stock represent approximately 58% of the shares of Class A common stock that would be outstanding if all
outstanding LLC Units were exchanged and all outstanding shares of Class B common stock were converted at that time. This information is based on
the Form 4 filed with the SEC by Mr. Garcia II on February 27, 2019. Verde’s, ECG III SPE’s, and Mr. Garcia IT’s address is 1720 W. Rio Salado
Parkway, Suite A, Tempe, AZ 85281.
(4) Spruce House Investment Management LLC; Spruce House Capital LLC; Spruce House Partnership LP; Zachary Sternberg and Benjamin Stein
report shared voting and dispositive power of 5,500,000 shares of Class A common stock. Zachary Sternberg and Benjamin Stein each report sole
voting and dispositive power of 50,000 shares of Class A common stock. Spruce House Partnership LP holds the 5,500,000 shares with shared voting
and dispositive power and Spruce House Capital LLC serves as the general partner and Spruce House Investment Management LLC serves as the
investment manager. Zachary Sternberg and Benjamin Stein each serve as a managing member of the Spruce House Capital LLC and the Spruce
House Investment Management LLC. This information is based on the Schedule 13G/A filed with the SEC on February 14, 2019. The address for
each of these reporting persons is 435 Hudson Street, 8th Floor New York, NY 10014.
(5) Melvin Capital Management LP is the investment manager of Melvin Capital Master Fund Ltd. Melvin Capital Management LP reports shared voting
and dispositive power of 3,725,000 shares of Class A common stock. The number of shares reported above consists of 1,606,827 shares of Class A
common stock and call options exercisable into 861,600 shares of Class A common stock held by Melvin Capital Master Fund Ltd; 300,909 shares of
Class A common stock and call options exercisable into 161,200 shares of Class A common stock held by Melvin Capital Onshore LP; and 517,264
shares of Class A common stock and call options exercisable into 277,200 shares of Class A common stock held by one or more managed accounts.
Melvin Capital Management LP, as the investment manager to these funds and accounts, may be deemed to beneficially own the 2,425,000 shares of
Common Stock and the call options exercisable into 1,300,000 shares of Class A common stock held by them. This information is based on the
Schedule 13G/A filed with the SEC on February 15, 2019. The address for each of these reporting persons is 527 Madison Avenue, 25th Floor, New
York, NY 10022.
(6) FMRLLC reports sole power to dispose or direct the disposition of 3,591,784 shares of Class A common stock. This information is based on the
Schedule 13G filed with the SEC on February 14, 2019. FMR LLC’s address is 245 Summer Street, Boston, MA 02210.
(7) The Vanguard Group reports shared power to dispose or direct the disposition of 63,700 of these shares of Class A common stock. This information is
based on the Schedule 13G filed with the SEC on February 11, 2019. The Vanguard Group’s address is 100 Vanguard Blvd., Malvern, PA 19355.
(8) Wilmot B. Harkey and Daniel Mack are the managing members of Nantahala Capital Management, LLC and together report shared voting and
dispositive power with respect to these shares. This number of shares includes call options exercisable into 1,450,000 shares of Class A common
stock. This information is based on the Schedule 13G filed with the SEC on February 14, 2019. The address for each of these reporting persons is 19
Old Kings Highway S, Suite 200 Darien, CT 06820.
(9) CAS Investment Partners, LLC, Sosin Partners, L.P., and Clifford Sosin report shared voting and dispositive power with respect to 2,167,766 of these
shares and Mr. Sosin reports sole voting and dispositive power with respect to 26,738 of these shares. Sosin Partners, L.P. owns an aggregate of
2,167,766 shares of Class A common stock and CAS Investment Partners, LLC,
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Document Details
| Filename | HOUSE_OVERSIGHT_024360.jpg |
| File Size | 0.0 KB |
| OCR Confidence | 85.0% |
| Has Readable Text | Yes |
| Text Length | 5,650 characters |
| Indexed | 2026-02-04T16:53:57.355219 |