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: 2025-10-08

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
2025-10-08	Class A Common Stock	S	459	$362.58	Disposed	355981	Indirect
2025-10-08	Class A Common Stock	S	459	$362.58	Disposed	455981	Indirect
2025-10-08	Class A Common Stock	S	703	$363.26	Disposed	355278	Indirect
2025-10-08	Class A Common Stock	S	702	$363.73	Disposed	455279	Indirect
2025-10-08	Class A Common Stock	S	1094	$364.30	Disposed	354184	Indirect
2025-10-08	Class A Common Stock	S	1094	$364.30	Disposed	454185	Indirect
2025-10-08	Class A Common Stock	S	671	$365.36	Disposed	353513	Indirect
2025-10-08	Class A Common Stock	S	671	$365.36	Disposed	453514	Indirect
2025-10-08	Class A Common Stock	S	519	$366.42	Disposed	352994	Indirect
2025-10-08	Class A Common Stock	S	519	$366.42	Disposed	452995	Indirect
2025-10-08	Class A Common Stock	S	670	$367.45	Disposed	352324	Indirect
2025-10-08	Class A Common Stock	S	670	$367.45	Disposed	452325	Indirect
2025-10-08	Class A Common Stock	S	666	$368.50	Disposed	351658	Indirect
2025-10-08	Class A Common Stock	S	666	$368.50	Disposed	451659	Indirect
2025-10-08	Class A Common Stock	S	163	$369.32	Disposed	351495	Indirect
2025-10-08	Class A Common Stock	S	164	$369.59	Disposed	451495	Indirect
2025-10-08	Class A Common Stock	S	55	$370	Disposed	351440	Indirect
2025-10-08	Class A Common Stock	S	55	$370	Disposed	451440	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 $361.91 to $362.91, 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: 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.

F6: This transaction was executed in multiple trades at prices ranging from $362.92 to $363.48, inclusive.

F7: This transaction was executed in multiple trades at prices ranging from $363.49 to $363.90, inclusive.

F8: This transaction was executed in multiple trades at prices ranging from $363.93 to $364.91, inclusive.

F9: This transaction was executed in multiple trades at prices ranging from $364.95 to $365.90, inclusive.

F10: This transaction was executed in multiple trades at prices ranging from $365.97 to $366.97, inclusive.

F11: This transaction was executed in multiple trades at prices ranging from $366.99 to $367.98, inclusive.

F12: This transaction was executed in multiple trades at prices ranging from $368.03 to $368.95, inclusive.

F13: This transaction was executed in multiple trades at prices ranging from $369.24 to $369.37, inclusive.

F14: This transaction was executed in multiple trades at prices ranging from $369.37 to $369.80, inclusive.

F15: This transaction was executed in multiple trades at prices ranging from $370.00 to $370.32, inclusive.