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	200	$374.64	Disposed	371240	Indirect
2025-10-03	Class A Common Stock	S	200	$374.64	Disposed	471240	Indirect
2025-10-03	Class A Common Stock	S	512	$375.66	Disposed	370728	Indirect
2025-10-03	Class A Common Stock	S	512	$375.66	Disposed	470728	Indirect
2025-10-03	Class A Common Stock	S	850	$376.59	Disposed	369878	Indirect
2025-10-03	Class A Common Stock	S	850	$376.59	Disposed	469878	Indirect
2025-10-03	Class A Common Stock	S	388	$377.60	Disposed	369490	Indirect
2025-10-03	Class A Common Stock	S	388	$377.60	Disposed	469490	Indirect
2025-10-03	Class A Common Stock	S	200	$378.90	Disposed	369290	Indirect
2025-10-03	Class A Common Stock	S	200	$378.90	Disposed	469290	Indirect
2025-10-03	Class A Common Stock	S	150	$379.75	Disposed	369140	Indirect
2025-10-03	Class A Common Stock	S	150	$379.75	Disposed	469140	Indirect
2025-10-03	Class A Common Stock	S	50	$381.02	Disposed	369090	Indirect
2025-10-03	Class A Common Stock	S	50	$381.02	Disposed	469090	Indirect
2025-10-03	Class A Common Stock	S	100	$382.98	Disposed	368990	Indirect
2025-10-03	Class A Common Stock	S	100	$383.28	Disposed	468990	Indirect
2025-10-03	Class A Common Stock	S	400	$384.61	Disposed	368590	Indirect
2025-10-03	Class A Common Stock	S	400	$384.61	Disposed	468590	Indirect
2025-10-03	Class A Common Stock	S	600	$385.73	Disposed	367990	Indirect
2025-10-03	Class A Common Stock	S	600	$385.73	Disposed	467990	Indirect
2025-10-03	Class A Common Stock	S	500	$386.63	Disposed	367490	Indirect
2025-10-03	Class A Common Stock	S	500	$386.63	Disposed	467490	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 $373.98 to $374.90, 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 $375.02 to $376.01 inclusive.

F7: This transaction was executed in multiple trades at prices ranging from $376.25 to $377.14, inclusive.

F8: This transaction was executed in multiple trades at prices ranging from $377.29 to $378.02, inclusive.

F9: This transaction was executed in multiple trades at prices ranging from $378.46 to $379.40, inclusive.

F10: This transaction was executed in multiple trades at prices ranging from $379.49 to $380.23, inclusive.

F11: This transaction was executed in multiple trades at prices ranging from $384.20 to $385.18 inclusive.

F12: This transaction was executed in multiple trades at prices ranging from $385.21 to $386.17, inclusive.

F13: This transaction was executed in multiple trades at prices ranging from $386.23 to $387.19 inclusive.