CARVANA CO. — Director's Dealing 2025

Sep 29, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARVANA CO. (CVNA)
CIK: 0001690820
Period of Report: 2025-09-26

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
2025-09-26	Class A Common Stock	S	250	$361.22	Disposed	396190	Indirect
2025-09-26	Class A Common Stock	S	250	$361.22	Disposed	496190	Indirect
2025-09-26	Class A Common Stock	S	300	$362.72	Disposed	395890	Indirect
2025-09-26	Class A Common Stock	S	300	$362.72	Disposed	495890	Indirect
2025-09-26	Class A Common Stock	S	250	$363.73	Disposed	395640	Indirect
2025-09-26	Class A Common Stock	S	250	$363.73	Disposed	495640	Indirect
2025-09-26	Class A Common Stock	S	600	$364.85	Disposed	395040	Indirect
2025-09-26	Class A Common Stock	S	600	$364.85	Disposed	495040	Indirect
2025-09-26	Class A Common Stock	S	377	$365.96	Disposed	394663	Indirect
2025-09-26	Class A Common Stock	S	377	$365.96	Disposed	494663	Indirect
2025-09-26	Class A Common Stock	S	1241	$367.20	Disposed	393422	Indirect
2025-09-26	Class A Common Stock	S	1241	$367.20	Disposed	493422	Indirect
2025-09-26	Class A Common Stock	S	1563	$368.11	Disposed	391859	Indirect
2025-09-26	Class A Common Stock	S	1563	$368.11	Disposed	491859	Indirect
2025-09-26	Class A Common Stock	S	319	$368.93	Disposed	391540	Indirect
2025-09-26	Class A Common Stock	S	319	$368.93	Disposed	491540	Indirect
2025-09-26	Class A Common Stock	S	100	$369.93	Disposed	391440	Indirect
2025-09-26	Class A Common Stock	S	100	$369.93	Disposed	491440	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 $360.72 to $361.59, 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 $362.21 to $363.13, inclusive.

F7: This transaction was executed in multiple trades at prices ranging from $363.27 to $364.12, inclusive.

F8: This transaction was executed in multiple trades at prices ranging from $364.52 to $365.44, inclusive.

F9: This transaction was executed in multiple trades at prices ranging from $365.58 to $366.56, inclusive.

F10: This transaction was executed in multiple trades at prices ranging from $366.62 to $367.58, inclusive.

F11: This transaction was executed in multiple trades at prices ranging from $367.66 to $368.56, inclusive.

F12: This transaction was executed in multiple trades at prices ranging from $368.74 to $369.12, inclusive.

F13: This transaction was executed in multiple trades at prices ranging from $369.87 to $369.99, inclusive.