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: GARCIA ERNEST C. III (Director, Chief Executive Officer, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-10-01	Class A Common Stock	F	1230	$395.41	Disposed	920696	Direct
2025-10-01	Class A Common Stock	S	100	$379.52	Disposed	381340	Indirect
2025-10-01	Class A Common Stock	S	100	$379.52	Disposed	481340	Indirect
2025-10-01	Class A Common Stock	S	150	$380.54	Disposed	381190	Indirect
2025-10-01	Class A Common Stock	S	150	$380.54	Disposed	481190	Indirect
2025-10-01	Class A Common Stock	S	150	$382.50	Disposed	381040	Indirect
2025-10-01	Class A Common Stock	S	150	$382.50	Disposed	481040	Indirect
2025-10-01	Class A Common Stock	S	200	$383.95	Disposed	380840	Indirect
2025-10-01	Class A Common Stock	S	200	$383.95	Disposed	480840	Indirect
2025-10-01	Class A Common Stock	S	350	$384.76	Disposed	380490	Indirect
2025-10-01	Class A Common Stock	S	350	$384.76	Disposed	480490	Indirect
2025-10-01	Class A Common Stock	S	450	$385.89	Disposed	380040	Indirect
2025-10-01	Class A Common Stock	S	450	$385.89	Disposed	480040	Indirect
2025-10-01	Class A Common Stock	S	450	$386.91	Disposed	379590	Indirect
2025-10-01	Class A Common Stock	S	450	$386.91	Disposed	479590	Indirect
2025-10-01	Class A Common Stock	S	300	$388.11	Disposed	379290	Indirect
2025-10-01	Class A Common Stock	S	300	$388.11	Disposed	479290	Indirect
2025-10-01	Class A Common Stock	S	499	$389.75	Disposed	378791	Indirect
2025-10-01	Class A Common Stock	S	499	$389.75	Disposed	478791	Indirect
2025-10-01	Class A Common Stock	S	450	$390.47	Disposed	378341	Indirect
2025-10-01	Class A Common Stock	S	450	$390.47	Disposed	478341	Indirect

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 sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 13, 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 $379.09 to $379.95, inclusive.

F5: 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.

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 $380.11 to $380.87, inclusive.

F8: This transaction was executed in multiple trades at prices ranging from $382.35 to $382.73, inclusive.

F9: This transaction was executed in multiple trades at prices ranging from $383.37 to $384.34, inclusive.

F10: This transaction was executed in multiple trades at prices ranging from $384.38 to $385.06, inclusive.

F11: This transaction was executed in multiple trades at prices ranging from $385.52 to $386.51, inclusive.

F12: This transaction was executed in multiple trades at prices ranging from $386.64 to $387.45 inclusive.

F13: This transaction was executed in multiple trades at prices ranging from $387.82 to $388.54, inclusive.

F14: This transaction was executed in multiple trades at prices ranging from $389.00 to $389.99, inclusive.

F15: This transaction was executed in multiple trades at prices ranging from $390.02 to $390.98, inclusive.