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	150	$371.92	Disposed	391290	Indirect
2025-09-29	Class A Common Stock	S	150	$371.92	Disposed	491290	Indirect
2025-09-29	Class A Common Stock	S	150	$373.48	Disposed	391140	Indirect
2025-09-29	Class A Common Stock	S	150	$373.48	Disposed	491140	Indirect
2025-09-29	Class A Common Stock	S	50	$374.38	Disposed	391090	Indirect
2025-09-29	Class A Common Stock	S	50	$374.38	Disposed	491090	Indirect
2025-09-29	Class A Common Stock	S	50	$375.95	Disposed	391040	Indirect
2025-09-29	Class A Common Stock	S	50	$375.95	Disposed	491040	Indirect
2025-09-29	Class A Common Stock	S	50	$376.98	Disposed	390990	Indirect
2025-09-29	Class A Common Stock	S	50	$376.98	Disposed	490990	Indirect
2025-09-29	Class A Common Stock	S	50	$379.32	Disposed	390940	Indirect
2025-09-29	Class A Common Stock	S	50	$379.32	Disposed	490940	Indirect
2025-09-29	Class A Common Stock	S	50	$380.45	Disposed	390890	Indirect
2025-09-29	Class A Common Stock	S	50	$380.45	Disposed	490890	Indirect
2025-09-29	Class A Common Stock	S	250	$383.30	Disposed	390640	Indirect
2025-09-29	Class A Common Stock	S	250	$383.30	Disposed	490640	Indirect
2025-09-29	Class A Common Stock	S	397	$385.14	Disposed	390243	Indirect
2025-09-29	Class A Common Stock	S	396	$385.84	Disposed	490244	Indirect
2025-09-29	Class A Common Stock	S	400	$386.59	Disposed	389843	Indirect
2025-09-29	Class A Common Stock	S	400	$386.59	Disposed	489844	Indirect
2025-09-29	Class A Common Stock	S	1003	$387.39	Disposed	388840	Indirect
2025-09-29	Class A Common Stock	S	1004	$387.79	Disposed	488840	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 $371.49 to $372.35, 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 $373.23 to $373.98, inclusive.

F7: This transaction was executed in multiple trades at prices ranging from $382.66 to $383.62, inclusive.

F8: This transaction was executed in multiple trades at prices ranging from $384.98 to $385.69, inclusive.

F9: This transaction was executed in multiple trades at prices ranging from $385.69 to $385.96, inclusive.

F10: This transaction was executed in multiple trades at prices ranging from $386.04 to $387.03, inclusive.

F11: This transaction was executed in multiple trades at prices ranging from $387.19 to $387.53, inclusive.

F12: This transaction was executed in multiple trades at prices ranging from $387.53 to $388.19, inclusive.