CARVANA CO. — Director's Dealing 2025

Dec 13, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARVANA CO. (CVNA)
CIK: 0001690820
Period of Report: 2025-12-11

Reporting Person: BREAUX PAUL W. (See Remarks)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-12-11	Class A Common Stock	M	8473	$10.07	Acquired	77762	Direct
2025-12-11	Class A Common Stock	S	8473	$475	Disposed	69289	Direct
2025-12-12	Class A Common Stock	M	1527	$10.07	Acquired	70816	Direct
2025-12-12	Class A Common Stock	S	1527	$475	Disposed	69289	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-12-11	Stock Options (Right to Buy)	$10.07	M	8473	Disposed	2033-02-22	Class A Common Stock (8473)	Direct
2025-12-12	Stock Options (Right to Buy)	$10.07	M	1527	Disposed	2033-02-22	Class A Common Stock (1527)	Direct

Footnotes

F1: The reported option exercises and sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 10, 2025 (the "10b5-1 Plan").

F2: The non-qualified stock options representing the right to purchase for the exercise price Class A Common Stock of the Issuer vested 25% on April 1, 2024 and vest monthly thereafter for the following three years, subject to the Reporting Person's continued service with the Issuer.