CARVANA CO. — Director's Dealing 2025

Oct 7, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARVANA CO. (CVNA)
CIK: 0001690820
Period of Report: 2025-10-03

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
2025-10-03	Class A Common Stock	S	250	$387.66	Disposed	367240	Indirect
2025-10-03	Class A Common Stock	S	250	$387.66	Disposed	467240	Indirect
2025-10-03	Class A Common Stock	S	100	$388.66	Disposed	367140	Indirect
2025-10-03	Class A Common Stock	S	100	$389.27	Disposed	467140	Indirect
2025-10-03	Class A Common Stock	S	150	$390.52	Disposed	366990	Indirect
2025-10-03	Class A Common Stock	S	150	$390.52	Disposed	466990	Indirect
2025-10-03	Class A Common Stock	S	399	$391.51	Disposed	366591	Indirect
2025-10-03	Class A Common Stock	S	398	$392.05	Disposed	466592	Indirect
2025-10-03	Class A Common Stock	S	151	$392.54	Disposed	366440	Indirect
2025-10-03	Class A Common Stock	S	152	$393.05	Disposed	466440	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 $387.33 to $388.26 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 $390.19 to $390.92 inclusive.

F7: This transaction was executed in multiple trades at prices ranging from $391.28 to $391.89, inclusive.

F8: This transaction was executed in multiple trades at prices ranging from $391.89 to $392.23, inclusive.

F9: This transaction was executed in multiple trades at prices ranging from $392.30 to $392.88, inclusive.

F10: This transaction was executed in multiple trades at prices ranging from $392.88 to $393.22, inclusive.