CARVANA CO. — Director's Dealing 2025

Dec 3, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARVANA CO. (CVNA)
CIK: 0001690820
Period of Report: 2025-12-01

Reporting Person: JENKINS MARK W. (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-12-01	Class A Common Stock	F	1219	$375.26	Disposed	204923	Direct
2025-12-01	Class A Common Stock	M	10000	$10.07	Acquired	214923	Direct
2025-12-01	Class A Common Stock	M	2000	$42.03	Acquired	216923	Direct
2025-12-01	Class A Common Stock	M	750	$51.97	Acquired	217673	Direct
2025-12-01	Class A Common Stock	S	40	$370.38	Disposed	217633	Direct
2025-12-01	Class A Common Stock	S	3030	$372.35	Disposed	214603	Direct
2025-12-01	Class A Common Stock	S	596	$373.55	Disposed	214007	Direct
2025-12-01	Class A Common Stock	S	1168	$374.60	Disposed	212839	Direct
2025-12-01	Class A Common Stock	S	1728	$375.60	Disposed	211111	Direct
2025-12-01	Class A Common Stock	S	1341	$376.63	Disposed	209770	Direct
2025-12-01	Class A Common Stock	S	1090	$377.61	Disposed	208680	Direct
2025-12-01	Class A Common Stock	S	1668	$378.57	Disposed	207012	Direct
2025-12-01	Class A Common Stock	S	969	$379.49	Disposed	206043	Direct
2025-12-01	Class A Common Stock	S	800	$380.90	Disposed	205243	Direct
2025-12-01	Class A Common Stock	S	320	$381.69	Disposed	204923	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-12-01	Stock Options (Right to Buy)	$10.07	M	10000	Disposed	2033-02-22	Class A Common Stock (10000)	Direct
2025-12-01	Stock Options (Right to Buy)	$42.03	M	2000	Disposed	2034-01-24	Class A Common Stock (2000)	Direct
2025-12-01	Stock Options (Right to Buy)	$51.97	M	750	Disposed	2034-02-13	Class A Common Stock (750)	Direct

Footnotes

F1: Represents total number of shares of Class A Common Stock of the Issuer withheld for taxes upon vesting of restricted stock units pursuant to various awards.

F2: The reported option exercises and sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 5, 2024.

F3: 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.

F4: This transaction was executed in multiple trades at prices ranging from $372.00 to $372.95, inclusive.

F5: This transaction was executed in multiple trades at prices ranging from $373.03 to $374.02, inclusive.

F6: This transaction was executed in multiple trades at prices ranging from $374.07 to $375.06, inclusive.

F7: This transaction was executed in multiple trades at prices ranging from $375.07 to $376.06, inclusive.

F8: This transaction was executed in multiple trades at prices ranging from $376.08 to $377.07, inclusive.

F9: This transaction was executed in multiple trades at prices ranging from $377.09 to $378.05, inclusive.

F10: This transaction was executed in multiple trades at prices ranging from $378.09 to $379.06, inclusive.

F11: This transaction was executed in multiple trades at prices ranging from $379.09 to $380.04, inclusive.

F12: This transaction was executed in multiple trades at prices ranging from $380.36 to $381.35, inclusive.

F13: This transaction was executed in multiple trades at prices ranging from $381.37 to $382.06, inclusive.

F14: 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 monthly thereafter for the following three years, subject to the Reporting Person's continued service with the Issuer.

F15: 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, 2025 and monthly thereafter for the following three years, subject to the Reporting Person's continued service with the Issuer.