CARVANA CO. — Director's Dealing 2025

Oct 11, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARVANA CO. (CVNA)
CIK: 0001690820
Period of Report: 2025-10-09

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
2025-10-09	Class A Common Stock	S	49	$348.44	Disposed	351391	Indirect
2025-10-09	Class A Common Stock	S	48	$348.97	Disposed	451392	Indirect
2025-10-09	Class A Common Stock	S	64	$349.69	Disposed	351327	Indirect
2025-10-09	Class A Common Stock	S	64	$349.69	Disposed	451328	Indirect
2025-10-09	Class A Common Stock	S	27	$350.63	Disposed	351300	Indirect
2025-10-09	Class A Common Stock	S	27	$350.63	Disposed	451301	Indirect
2025-10-09	Class A Common Stock	S	90	$351.80	Disposed	351210	Indirect
2025-10-09	Class A Common Stock	S	90	$351.80	Disposed	451211	Indirect
2025-10-09	Class A Common Stock	S	243	$352.60	Disposed	350967	Indirect
2025-10-09	Class A Common Stock	S	244	$353.10	Disposed	450967	Indirect
2025-10-09	Class A Common Stock	S	215	$353.43	Disposed	350752	Indirect
2025-10-09	Class A Common Stock	S	214	$353.97	Disposed	450753	Indirect
2025-10-09	Class A Common Stock	S	99	$354.65	Disposed	350653	Indirect
2025-10-09	Class A Common Stock	S	100	$355.11	Disposed	450653	Indirect
2025-10-09	Class A Common Stock	S	148	$356.10	Disposed	350505	Indirect
2025-10-09	Class A Common Stock	S	148	$356.10	Disposed	450505	Indirect
2025-10-09	Class A Common Stock	S	87	$356.68	Disposed	350418	Indirect
2025-10-09	Class A Common Stock	S	86	$357.13	Disposed	450419	Indirect
2025-10-09	Class A Common Stock	S	87	$357.90	Disposed	350331	Indirect
2025-10-09	Class A Common Stock	S	87	$357.90	Disposed	450332	Indirect
2025-10-09	Class A Common Stock	S	141	$358.96	Disposed	350190	Indirect
2025-10-09	Class A Common Stock	S	141	$358.96	Disposed	450191	Indirect
2025-10-09	Class A Common Stock	S	139	$359.66	Disposed	350051	Indirect
2025-10-09	Class A Common Stock	S	140	$360.08	Disposed	450051	Indirect
2025-10-09	Class A Common Stock	S	36	$360.74	Disposed	350015	Indirect
2025-10-09	Class A Common Stock	S	35	$361	Disposed	450016	Indirect
2025-10-09	Class A Common Stock	S	15	$362	Disposed	350000	Indirect
2025-10-09	Class A Common Stock	S	16	$362	Disposed	450000	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	920696	Direct

Footnotes

F1: The reported sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 13, 2024.

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 $348.19 to $348.75, inclusive.

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 Investment Trustee and Co-Administrative Trustee of the Irrevocable Trust.

F5: This transaction was executed in multiple trades at prices ranging from $348.75 to $349.11, inclusive.

F6: 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 Investment Trustee
and Co-Administrative Trustee of the Multi-Generational Trust.

F7: This transaction was executed in multiple trades at prices ranging from $349.18 to $350.17 inclusive.

F8: This transaction was executed in multiple trades at prices ranging from $350.24 to $351.21, inclusive.

F9: This transaction was executed in multiple trades at prices ranging from $351.25 to $352.16 inclusive.

F10: This transaction was executed in multiple trades at prices ranging from $352.26 to $352.82, inclusive.

F11: This transaction was executed in multiple trades at prices ranging from $352.83 to $353.24, inclusive.

F12: This transaction was executed in multiple trades at prices ranging from $353.29 to $353.55, inclusive.

F13: This transaction was executed in multiple trades at prices ranging from $353.55 to $354.22, inclusive.

F14: This transaction was executed in multiple trades at prices ranging from $354.31 to $354.87, inclusive.

F15: This transaction was executed in multiple trades at prices ranging from $354.87 to $355.29, inclusive.

F16: This transaction was executed in multiple trades at prices ranging from $355.44 to $356.41, inclusive.

F17: This transaction was executed in multiple trades at prices ranging from $356.45 to $357.04, inclusive.

F18: This transaction was executed in multiple trades at prices ranging from $357.04 to $357.37, inclusive.

F19: This transaction was executed in multiple trades at prices ranging from $357.47 to $358.47, inclusive.

F20: This transaction was executed in multiple trades at prices ranging from $358.49 to $359.48, inclusive.

F21: This transaction was executed in multiple trades at prices ranging from $359.52 to $359.90, inclusive.

F22: This transaction was executed in multiple trades at prices ranging from $359.90 to $360.46, inclusive.

F23: This transaction was executed in multiple trades at prices ranging from $360.61 to $360.89, inclusive.

F24: This transaction was executed in multiple trades at prices ranging from $360.89 to $361.17, inclusive.