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: 2025-10-06

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
2025-10-06	Class A Common Stock	S	250	$367.23	Disposed	366190	Indirect
2025-10-06	Class A Common Stock	S	250	$367.23	Disposed	466190	Indirect
2025-10-06	Class A Common Stock	S	450	$368.32	Disposed	365740	Indirect
2025-10-06	Class A Common Stock	S	450	$368.32	Disposed	465740	Indirect
2025-10-06	Class A Common Stock	S	100	$368.90	Disposed	365640	Indirect
2025-10-06	Class A Common Stock	S	100	$369.49	Disposed	465640	Indirect
2025-10-06	Class A Common Stock	S	200	$370.35	Disposed	365440	Indirect
2025-10-06	Class A Common Stock	S	200	$370.35	Disposed	465440	Indirect
2025-10-06	Class A Common Stock	S	361	$371.57	Disposed	365079	Indirect
2025-10-06	Class A Common Stock	S	361	$371.57	Disposed	465079	Indirect
2025-10-06	Class A Common Stock	S	2098	$372.49	Disposed	362981	Indirect
2025-10-06	Class A Common Stock	S	2098	$372.49	Disposed	462981	Indirect
2025-10-06	Class A Common Stock	S	1181	$373.21	Disposed	361800	Indirect
2025-10-06	Class A Common Stock	S	1180	$373.81	Disposed	461801	Indirect
2025-10-06	Class A Common Stock	S	310	$374.29	Disposed	361490	Indirect
2025-10-06	Class A Common Stock	S	311	$374.83	Disposed	461490	Indirect
2025-10-06	Class A Common Stock	S	50	$379.19	Disposed	361440	Indirect
2025-10-06	Class A Common Stock	S	50	$379.19	Disposed	461440	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 $366.85 to $367.75, 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: 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 $367.89 to $368.85, inclusive.

F7: This transaction was executed in multiple trades at prices ranging from $369.95 to $370.69, inclusive.

F8: This transaction was executed in multiple trades at prices ranging from $370.99 to $371.99, inclusive.

F9: This transaction was executed in multiple trades at prices ranging from $372.01 to $373.01, inclusive.

F10: This transaction was executed in multiple trades at prices ranging from $373.02 to $373.60, inclusive.

F11: This transaction was executed in multiple trades at prices ranging from $373.60 to $374.00, inclusive.

F12: This transaction was executed in multiple trades at prices ranging from $374.10 to $374.44, inclusive.

F13: This transaction was executed in multiple trades at prices ranging from $374.44 to $374.97, inclusive.