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: 2025-09-25

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
2025-09-25	Class A Common Stock	S	250	$368.65	Disposed	399890	Indirect
2025-09-25	Class A Common Stock	S	250	$368.65	Disposed	499890	Indirect
2025-09-25	Class A Common Stock	S	250	$369.92	Disposed	399640	Indirect
2025-09-25	Class A Common Stock	S	250	$369.92	Disposed	499640	Indirect
2025-09-25	Class A Common Stock	S	362	$371.12	Disposed	399278	Indirect
2025-09-25	Class A Common Stock	S	362	$371.12	Disposed	499278	Indirect
2025-09-25	Class A Common Stock	S	350	$372.91	Disposed	398928	Indirect
2025-09-25	Class A Common Stock	S	350	$372.91	Disposed	498928	Indirect
2025-09-25	Class A Common Stock	S	850	$373.97	Disposed	398078	Indirect
2025-09-25	Class A Common Stock	S	850	$373.97	Disposed	498078	Indirect
2025-09-25	Class A Common Stock	S	588	$374.97	Disposed	397490	Indirect
2025-09-25	Class A Common Stock	S	588	$374.97	Disposed	497490	Indirect
2025-09-25	Class A Common Stock	S	500	$376.12	Disposed	396990	Indirect
2025-09-25	Class A Common Stock	S	500	$376.12	Disposed	496990	Indirect
2025-09-25	Class A Common Stock	S	500	$377.12	Disposed	396490	Indirect
2025-09-25	Class A Common Stock	S	500	$377.12	Disposed	496490	Indirect
2025-09-25	Class A Common Stock	S	50	$377.84	Disposed	396440	Indirect
2025-09-25	Class A Common Stock	S	50	$377.84	Disposed	496440	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 $368.37 to $368.85, 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 $369.64 to $370.49, inclusive.

F7: This transaction was executed in multiple trades at prices ranging from $370.73 to $371.44, inclusive.

F8: This transaction was executed in multiple trades at prices ranging from $372.49 to $373.23, inclusive.

F9: This transaction was executed in multiple trades at prices ranging from $373.62 to $374.57, inclusive.

F10: This transaction was executed in multiple trades at prices ranging from $374.65 to $375.53, inclusive.

F11: This transaction was executed in multiple trades at prices ranging from $375.72 to $376.64, inclusive.

F12: This transaction was executed in multiple trades at prices ranging from $376.74 to $377.67, inclusive.