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: 2025-10-02

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
2025-10-02	Class A Common Stock	S	207	$388.23	Disposed	376233	Indirect
2025-10-02	Class A Common Stock	S	206	$388.74	Disposed	476234	Indirect
2025-10-02	Class A Common Stock	S	580	$389.67	Disposed	375653	Indirect
2025-10-02	Class A Common Stock	S	580	$389.67	Disposed	475654	Indirect
2025-10-02	Class A Common Stock	S	159	$390.64	Disposed	375494	Indirect
2025-10-02	Class A Common Stock	S	159	$390.64	Disposed	475495	Indirect
2025-10-02	Class A Common Stock	S	460	$391.66	Disposed	375034	Indirect
2025-10-02	Class A Common Stock	S	460	$391.66	Disposed	475035	Indirect
2025-10-02	Class A Common Stock	S	256	$392.93	Disposed	374778	Indirect
2025-10-02	Class A Common Stock	S	256	$392.93	Disposed	474779	Indirect
2025-10-02	Class A Common Stock	S	1224	$393.87	Disposed	373554	Indirect
2025-10-02	Class A Common Stock	S	1224	$393.87	Disposed	473555	Indirect
2025-10-02	Class A Common Stock	S	625	$394.70	Disposed	372929	Indirect
2025-10-02	Class A Common Stock	S	625	$394.70	Disposed	472930	Indirect
2025-10-02	Class A Common Stock	S	469	$395.63	Disposed	372460	Indirect
2025-10-02	Class A Common Stock	S	470	$396.24	Disposed	472460	Indirect
2025-10-02	Class A Common Stock	S	866	$396.59	Disposed	371594	Indirect
2025-10-02	Class A Common Stock	S	865	$397.08	Disposed	471595	Indirect
2025-10-02	Class A Common Stock	S	104	$397.41	Disposed	371490	Indirect
2025-10-02	Class A Common Stock	S	105	$397.84	Disposed	471490	Indirect
2025-10-02	Class A Common Stock	S	50	$400	Disposed	371440	Indirect
2025-10-02	Class A Common Stock	S	50	$400	Disposed	471440	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 $388.01 to $388.46, 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: This transaction was executed in multiple trades at prices ranging from $388.46 to $389.00, inclusive.

F6: 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.

F7: This transaction was executed in multiple trades at prices ranging from $389.11 to $390.09, inclusive.

F8: This transaction was executed in multiple trades at prices ranging from $390.13 to $390.96, inclusive.

F9: This transaction was executed in multiple trades at prices ranging from $391.17 to $392.13, inclusive.

F10: This transaction was executed in multiple trades at prices ranging from $392.20 to $393.17, inclusive.

F11: This transaction was executed in multiple trades at prices ranging from $393.28 to $394.27, inclusive.

F12: This transaction was executed in multiple trades at prices ranging from $394.30 to $395.24, inclusive.

F13: This transaction was executed in multiple trades at prices ranging from $395.34 to $395.73, inclusive.

F14: This transaction was executed in multiple trades at prices ranging from $395.73 to $396.33, inclusive.

F15: This transaction was executed in multiple trades at prices ranging from $396.36 to $396.70, inclusive.

F16: This transaction was executed in multiple trades at prices ranging from $396.70 to $397.36, inclusive.

F17: This transaction was executed in multiple trades at prices ranging from $397.41 to $397.86, inclusive.