CARVANA CO. — Director's Dealing 2025

Oct 2, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARVANA CO. (CVNA)
CIK: 0001690820
Period of Report: 2025-09-30

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
2025-09-30	Class A Common Stock	S	104	$374.79	Disposed	386336	Indirect
2025-09-30	Class A Common Stock	S	104	$374.79	Disposed	486336	Indirect
2025-09-30	Class A Common Stock	S	296	$375.87	Disposed	386040	Indirect
2025-09-30	Class A Common Stock	S	295	$376.24	Disposed	486041	Indirect
2025-09-30	Class A Common Stock	S	937	$377.34	Disposed	385103	Indirect
2025-09-30	Class A Common Stock	S	937	$377.34	Disposed	485104	Indirect
2025-09-30	Class A Common Stock	S	510	$378.41	Disposed	384593	Indirect
2025-09-30	Class A Common Stock	S	510	$378.41	Disposed	484594	Indirect
2025-09-30	Class A Common Stock	S	1021	$379.42	Disposed	383572	Indirect
2025-09-30	Class A Common Stock	S	1021	$379.42	Disposed	483573	Indirect
2025-09-30	Class A Common Stock	S	427	$380.36	Disposed	383145	Indirect
2025-09-30	Class A Common Stock	S	427	$380.36	Disposed	483146	Indirect
2025-09-30	Class A Common Stock	S	670	$381.56	Disposed	382475	Indirect
2025-09-30	Class A Common Stock	S	670	$381.56	Disposed	482476	Indirect
2025-09-30	Class A Common Stock	S	350	$382.75	Disposed	382125	Indirect
2025-09-30	Class A Common Stock	S	350	$382.75	Disposed	482126	Indirect
2025-09-30	Class A Common Stock	S	171	$383.64	Disposed	381954	Indirect
2025-09-30	Class A Common Stock	S	172	$384.01	Disposed	481954	Indirect
2025-09-30	Class A Common Stock	S	215	$385.17	Disposed	381739	Indirect
2025-09-30	Class A Common Stock	S	215	$385.17	Disposed	481739	Indirect
2025-09-30	Class A Common Stock	S	2	$385.95	Disposed	381737	Indirect
2025-09-30	Class A Common Stock	S	2	$385.95	Disposed	481737	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	921926	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 $374.60 to $374.96, 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 $375.67 to $376.14, inclusive.

F7: This transaction was executed in multiple trades at prices ranging from $376.14 to $376.28, inclusive.

F8: This transaction was executed in multiple trades at prices ranging from $376.83 to $377.79, inclusive.

F9: This transaction was executed in multiple trades at prices ranging from $377.88 to $378.87, inclusive.

F10: This transaction was executed in multiple trades at prices ranging from $378.93 to $379.93, inclusive.

F11: This transaction was executed in multiple trades at prices ranging from $379.95 to $380.86, inclusive.

F12: This transaction was executed in multiple trades at prices ranging from $381.12 to $382.03, inclusive.

F13: This transaction was executed in multiple trades at prices ranging from $382.16 to $383.10, inclusive.

F14: This transaction was executed in multiple trades at prices ranging from $383.50 to $383.72, inclusive.

F15: This transaction was executed in multiple trades at prices ranging from $383.72 to $384.14, inclusive.

F16: This transaction was executed in multiple trades at prices ranging from $384.54 to $385.47, inclusive.

F17: This transaction was executed in multiple trades at prices ranging from $385.64 to $386.49, inclusive.