CARVANA CO. — Director's Dealing 2025

Oct 3, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARVANA CO. (CVNA)
CIK: 0001690820
Period of Report: 2025-10-01

Reporting Person: JENKINS MARK W. (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-10-01	Class A Common Stock	F	1219	$395.41	Disposed	207362	Direct
2025-10-01	Class A Common Stock	M	10000	$10.07	Acquired	217362	Direct
2025-10-01	Class A Common Stock	M	2000	$42.03	Acquired	219362	Direct
2025-10-01	Class A Common Stock	M	750	$51.97	Acquired	220112	Direct
2025-10-01	Class A Common Stock	S	400	$379.93	Disposed	219712	Direct
2025-10-01	Class A Common Stock	S	300	$381.21	Disposed	219412	Direct
2025-10-01	Class A Common Stock	S	569	$382.98	Disposed	218843	Direct
2025-10-01	Class A Common Stock	S	856	$384.41	Disposed	217987	Direct
2025-10-01	Class A Common Stock	S	800	$385.09	Disposed	217187	Direct
2025-10-01	Class A Common Stock	S	1185	$386.17	Disposed	216002	Direct
2025-10-01	Class A Common Stock	S	527	$386.89	Disposed	215475	Direct
2025-10-01	Class A Common Stock	S	970	$388.10	Disposed	214505	Direct
2025-10-01	Class A Common Stock	S	1457	$390.02	Disposed	213048	Direct
2025-10-01	Class A Common Stock	S	1256	$390.55	Disposed	211792	Direct
2025-10-01	Class A Common Stock	S	901	$391.65	Disposed	210891	Direct
2025-10-01	Class A Common Stock	S	499	$392.67	Disposed	210392	Direct
2025-10-01	Class A Common Stock	S	999	$393.78	Disposed	209393	Direct
2025-10-01	Class A Common Stock	S	1563	$395.19	Disposed	207830	Direct
2025-10-01	Class A Common Stock	S	368	$395.57	Disposed	207462	Direct
2025-10-01	Class A Common Stock	S	100	$396.56	Disposed	207362	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-10-01	Stock Options (Right to Buy)	$10.07	M	10000	Disposed	2033-02-22	Class A Common Stock (10000)	Direct
2025-10-01	Stock Options (Right to Buy)	$42.03	M	2000	Disposed	2034-01-24	Class A Common Stock (2000)	Direct
2025-10-01	Stock Options (Right to Buy)	$51.97	M	750	Disposed	2034-02-13	Class A Common Stock (750)	Direct

Footnotes

F1: Represents total number of shares of Class A Common Stock of the Issuer withheld for taxes upon vesting of restricted stock units pursuant to various awards.

F2: The reported option exercises and sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 5, 2024.

F3: 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.

F4: This transaction was executed in multiple trades at prices ranging from $379.64 to $380.62, inclusive.

F5: This transaction was executed in multiple trades at prices ranging from $380.96 to $381.70, inclusive.

F6: This transaction was executed in multiple trades at prices ranging from $382.65 to $383.64, inclusive.

F7: This transaction was executed in multiple trades at prices ranging from $383.65 to $384.63, inclusive.

F8: This transaction was executed in multiple trades at prices ranging from $384.66 to $385.43, inclusive.

F9: This transaction was executed in multiple trades at prices ranging from $385.66 to $386.65, inclusive.

F10: This transaction was executed in multiple trades at prices ranging from $386.69 to $387.07, inclusive.

F11: This transaction was executed in multiple trades at prices ranging from $387.69 to $388.51, inclusive.

F12: This transaction was executed in multiple trades at prices ranging from $389.21 to $390.20, inclusive.

F13: This transaction was executed in multiple trades at prices ranging from $390.21 to $391.19, inclusive.

F14: This transaction was executed in multiple trades at prices ranging from $391.22 to $392.21, inclusive.

F15: This transaction was executed in multiple trades at prices ranging from $392.34 to $393.16, inclusive.

F16: This transaction was executed in multiple trades at prices ranging from $393.42 to $394.37, inclusive.

F17: This transaction was executed in multiple trades at prices ranging from $394.53 to $395.52, inclusive.

F18: This transaction was executed in multiple trades at prices ranging from $395.56 to $395.59, inclusive.

F19: The non-qualified stock options representing the right to purchase for the exercise price Class A Common Stock of the Issuer vested 25% on April 1, 2024 and monthly thereafter for the following three years, subject to the Reporting Person's continued service with the Issuer.

F20: The non-qualified stock options representing the right to purchase for the exercise price Class A Common Stock of the Issuer vested 25% on April 1, 2025 and monthly thereafter for the following three years, subject to the Reporting Person's continued service with the Issuer.