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	100	$356.32	Disposed	401340	Indirect
2025-09-25	Class A Common Stock	S	100	$356.32	Disposed	501340	Indirect
2025-09-25	Class A Common Stock	S	250	$357.65	Disposed	401090	Indirect
2025-09-25	Class A Common Stock	S	250	$357.65	Disposed	501090	Indirect
2025-09-25	Class A Common Stock	S	150	$358.62	Disposed	400940	Indirect
2025-09-25	Class A Common Stock	S	150	$358.62	Disposed	500940	Indirect
2025-09-25	Class A Common Stock	S	150	$359.77	Disposed	400790	Indirect
2025-09-25	Class A Common Stock	S	150	$359.77	Disposed	500790	Indirect
2025-09-25	Class A Common Stock	S	100	$360.80	Disposed	400690	Indirect
2025-09-25	Class A Common Stock	S	100	$360.80	Disposed	500690	Indirect
2025-09-25	Class A Common Stock	S	100	$362.37	Disposed	400590	Indirect
2025-09-25	Class A Common Stock	S	100	$362.37	Disposed	500590	Indirect
2025-09-25	Class A Common Stock	S	50	$363.53	Disposed	400540	Indirect
2025-09-25	Class A Common Stock	S	50	$363.53	Disposed	500540	Indirect
2025-09-25	Class A Common Stock	S	100	$364.54	Disposed	400440	Indirect
2025-09-25	Class A Common Stock	S	100	$364.54	Disposed	500440	Indirect
2025-09-25	Class A Common Stock	S	50	$365.17	Disposed	400390	Indirect
2025-09-25	Class A Common Stock	S	50	$365.17	Disposed	500390	Indirect
2025-09-25	Class A Common Stock	S	150	$366.07	Disposed	400240	Indirect
2025-09-25	Class A Common Stock	S	150	$366.07	Disposed	500240	Indirect
2025-09-25	Class A Common Stock	S	100	$367.54	Disposed	400140	Indirect
2025-09-25	Class A Common Stock	S	100	$367.54	Disposed	500140	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 $355.83 to $356.65, 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 $357.20 to $357.95, inclusive.

F7: This transaction was executed in multiple trades at prices ranging from $358.40 to $358.96, inclusive.

F8: This transaction was executed in multiple trades at prices ranging from $359.64 to $359.99, inclusive.

F9: This transaction was executed in multiple trades at prices ranging from $360.67 to $360.93, inclusive.

F10: This transaction was executed in multiple trades at prices ranging from $361.92 to $362.81, inclusive.

F11: This transaction was executed in multiple trades at prices ranging from $364.38 to $364.69, inclusive.

F12: This transaction was executed in multiple trades at prices ranging from $365.78 to $366.43, inclusive.

F13: This transaction was executed in multiple trades at prices ranging from $367.34 to $367.73, inclusive.