CARVANA CO. — Director's Dealing 2025

Dec 5, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARVANA CO. (CVNA)
CIK: 0001690820
Period of Report: 2025-12-03

Reporting Person: MAROONE MICHAEL E (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-12-03	Class A Common Stock	M	30928	$15	Acquired	174501	Direct
2025-12-03	Class A Common Stock	S	29576	$400.30	Disposed	144925	Direct
2025-12-03	Class A Common Stock	S	1352	$401.18	Disposed	143573	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-12-03	Stock Options (Right to Buy)	$15	M	30928	Disposed	2027-04-27	Class A Common Stock (30928)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	45000	Indirect
Class A Common Stock	264	Indirect

Footnotes

F1: The reported sale and option exercise was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 30, 2025.

F2: The price reported above reflects the volume weighted average sale price. The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price.

F3: This transaction was executed in multiple trades at prices ranging from $400.00 to $400.99, inclusive.

F4: This transaction was executed in multiple trades at prices ranging from $401.02 to $401.32, inclusive.

F5: Represents shares of Class A common stock held directly by the Michael Maroone Family Partnership, LP, an entity controlled by the Reporting Person.

F6: Represents shares of Class A common stock held directly by the Family Trust FBO Michael E. Maroone, where the Reporting Person is beneficiary and trustee.

F7: The options vested in three equal annual installments beginning on April 27, 2018.