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: 2025-09-29

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
2025-09-29	Class A Common Stock	S	550	$388.61	Disposed	388290	Indirect
2025-09-29	Class A Common Stock	S	550	$388.61	Disposed	488290	Indirect
2025-09-29	Class A Common Stock	S	435	$389.66	Disposed	387855	Indirect
2025-09-29	Class A Common Stock	S	435	$389.66	Disposed	487855	Indirect
2025-09-29	Class A Common Stock	S	315	$390.69	Disposed	387540	Indirect
2025-09-29	Class A Common Stock	S	315	$390.69	Disposed	487540	Indirect
2025-09-29	Class A Common Stock	S	665	$391.90	Disposed	386875	Indirect
2025-09-29	Class A Common Stock	S	665	$391.90	Disposed	486875	Indirect
2025-09-29	Class A Common Stock	S	385	$392.72	Disposed	386490	Indirect
2025-09-29	Class A Common Stock	S	385	$392.72	Disposed	486490	Indirect
2025-09-29	Class A Common Stock	S	50	$393.46	Disposed	386440	Indirect
2025-09-29	Class A Common Stock	S	50	$393.46	Disposed	486440	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 $388.24 to $389.16, 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 $389.26 to $390.26, inclusive.

F7: This transaction was executed in multiple trades at prices ranging from $390.27 to $391.26, inclusive.

F8: This transaction was executed in multiple trades at prices ranging from $391.34 to $392.32 inclusive.

F9: This transaction was executed in multiple trades at prices ranging from $392.45 to $393.13, inclusive.