CARVANA CO. — Director's Dealing 2023

Jul 21, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARVANA CO. (CVNA)
CIK: 0001690820
Period of Report: 2023-07-19

Reporting Person: GARCIA ERNEST C. III (Director, Chief Executive Officer, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-07-19	Class A Common Stock	A	53091	$55.80	Acquired	892334	Direct
2023-07-19	Class A Common Stock	F	20718	$55.80	Disposed	871616	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	950000	Indirect
Class A Common Stock	850000	Indirect

Footnotes

F1: Represents restricted stock units ("RSUs") granted on February 22, 2023 under the Reporting Person's Performance Restricted Stock Unit Award Agreement between Carvana Co. and the Reporting Person, dated February 22, 2023 ("2023 PRSU Agreement"). The performance condition in the 2023 PRSU Agreement has been met, and all RSUs vested on July 19, 2023.

F2: Represents shares of Class A Common Stock of the Issuer withheld for taxes upon vesting of RSUs under the 2023 PRSU Agreement.

F3: These shares of Class A Common Stock are held directly by the Ernest C. Garcia III Multi-Generational Trust III (the "Multi-Generational Trust"). The Reporting Person is the Co-Administrative Trustee and Co-Investment Trustee of the Multi-Generational Trust and therefore shares voting and dispositive power over the shares held directly by the Multi-Generational Trust.

F4: These shares of Class A Common Stock are held directly by the Ernest Irrevocable 2004 Trust III (the "Irrevocable Trust"). The Reporting Person is the Co-Administrative Trustee and Co-Investment Trustee of the Irrevocable Trust and therefore shares voting and dispositive power over the shares held directly by the Irrevocable Trust.