CARVANA CO. — Director's Dealing 2025

Oct 9, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARVANA CO. (CVNA)
CIK: 0001690820
Period of Report: 2025-10-07

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
2025-10-07	Class A Common Stock	S	100	$363.49	Disposed	361340	Indirect
2025-10-07	Class A Common Stock	S	100	$363.49	Disposed	461340	Indirect
2025-10-07	Class A Common Stock	S	400	$364.77	Disposed	360940	Indirect
2025-10-07	Class A Common Stock	S	400	$364.77	Disposed	460940	Indirect
2025-10-07	Class A Common Stock	S	400	$365.73	Disposed	360540	Indirect
2025-10-07	Class A Common Stock	S	400	$365.73	Disposed	460540	Indirect
2025-10-07	Class A Common Stock	S	100	$366.51	Disposed	360440	Indirect
2025-10-07	Class A Common Stock	S	100	$367.24	Disposed	460440	Indirect
2025-10-07	Class A Common Stock	S	700	$367.90	Disposed	359740	Indirect
2025-10-07	Class A Common Stock	S	700	$367.90	Disposed	459740	Indirect
2025-10-07	Class A Common Stock	S	150	$369.30	Disposed	359590	Indirect
2025-10-07	Class A Common Stock	S	150	$369.30	Disposed	459590	Indirect
2025-10-07	Class A Common Stock	S	300	$370.48	Disposed	359290	Indirect
2025-10-07	Class A Common Stock	S	300	$370.48	Disposed	459290	Indirect
2025-10-07	Class A Common Stock	S	881	$371.49	Disposed	358409	Indirect
2025-10-07	Class A Common Stock	S	880	$371.97	Disposed	458410	Indirect
2025-10-07	Class A Common Stock	S	1284	$372.43	Disposed	357125	Indirect
2025-10-07	Class A Common Stock	S	1285	$372.97	Disposed	457125	Indirect
2025-10-07	Class A Common Stock	S	435	$373.43	Disposed	356690	Indirect
2025-10-07	Class A Common Stock	S	435	$373.43	Disposed	456690	Indirect
2025-10-07	Class A Common Stock	S	100	$374.76	Disposed	356590	Indirect
2025-10-07	Class A Common Stock	S	100	$374.76	Disposed	456590	Indirect
2025-10-07	Class A Common Stock	S	100	$375.99	Disposed	356490	Indirect
2025-10-07	Class A Common Stock	S	100	$376.02	Disposed	456490	Indirect
2025-10-07	Class A Common Stock	S	50	$377.07	Disposed	356440	Indirect
2025-10-07	Class A Common Stock	S	50	$377.07	Disposed	456440	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 $363.20 to $363.77, 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 $364.23 to $365.08, inclusive.

F7: This transaction was executed in multiple trades at prices ranging from $365.44 to $366.13, inclusive.

F8: This transaction was executed in multiple trades at prices ranging from $367.56 to $368.29, inclusive.

F9: This transaction was executed in multiple trades at prices ranging from $368.98 to $369.57, inclusive.

F10: This transaction was executed in multiple trades at prices ranging from $370.11 to $370.95, inclusive.

F11: This transaction was executed in multiple trades at prices ranging from $371.14 to $371.78, inclusive.

F12: This transaction was executed in multiple trades at prices ranging from $371.78 to $372.13, inclusive.

F13: This transaction was executed in multiple trades at prices ranging from $372.19 to $372.73, inclusive.

F14: This transaction was executed in multiple trades at prices ranging from $372.73 to $373.15, inclusive.

F15: This transaction was executed in multiple trades at prices ranging from $373.20 to $373.78, inclusive.

F16: This transaction was executed in multiple trades at prices ranging from $374.54 to $375.00, inclusive.