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: HUSTON BENJAMIN E. (Chief Operating 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	100758	Direct
2025-12-01	Class A Common Stock	M	10000	$10.07	Acquired	110758	Direct
2025-12-01	Class A Common Stock	S	40	$370.70	Disposed	110718	Direct
2025-12-01	Class A Common Stock	S	640	$373.10	Disposed	110078	Direct
2025-12-01	Class A Common Stock	S	584	$374.03	Disposed	109494	Direct
2025-12-01	Class A Common Stock	S	1876	$375.14	Disposed	107618	Direct
2025-12-01	Class A Common Stock	S	1240	$375.97	Disposed	106378	Direct
2025-12-01	Class A Common Stock	S	1160	$377.04	Disposed	105218	Direct
2025-12-01	Class A Common Stock	S	1490	$378.09	Disposed	103728	Direct
2025-12-01	Class A Common Stock	S	1508	$379.02	Disposed	102220	Direct
2025-12-01	Class A Common Stock	S	480	$380.01	Disposed	101740	Direct
2025-12-01	Class A Common Stock	S	822	$381.17	Disposed	100918	Direct
2025-12-01	Class A Common Stock	S	160	$381.91	Disposed	100758	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

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 December 13, 2024 (the "10b5-1 Plan").

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 $372.48 to $373.47, inclusive.

F5: This transaction was executed in multiple trades at prices ranging from $373.53 to $374.52 inclusive.

F6: This transaction was executed in multiple trades at prices ranging from $374.54 to $375.53, inclusive.

F7: This transaction was executed in multiple trades at prices ranging from $375.54 to $376.50, inclusive.

F8: This transaction was executed in multiple trades at prices ranging from $376.55 to $377.44 inclusive.

F9: This transaction was executed in multiple trades at prices ranging from $377.59 to $378.57, inclusive.

F10: This transaction was executed in multiple trades at prices ranging from $378.60 to $379.54, inclusive.

F11: This transaction was executed in multiple trades at prices ranging from $379.61 to $380.59, inclusive.

F12: This transaction was executed in multiple trades at prices ranging from $380.72 to $381.65 inclusive.

F13: This transaction was executed in multiple trades at prices ranging from $381.79 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.