CARVANA CO. — Director's Dealing 2025

Sep 26, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARVANA CO. (CVNA)
CIK: 0001690820
Period of Report: 2025-09-24

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
2025-09-24	Class A Common Stock	S	50	$369.30	Disposed	406390	Indirect
2025-09-24	Class A Common Stock	S	50	$369.30	Disposed	506390	Indirect
2025-09-24	Class A Common Stock	S	50	$370.31	Disposed	406340	Indirect
2025-09-24	Class A Common Stock	S	50	$370.31	Disposed	506340	Indirect
2025-09-24	Class A Common Stock	S	1038	$371.66	Disposed	405302	Indirect
2025-09-24	Class A Common Stock	S	1038	$371.66	Disposed	505302	Indirect
2025-09-24	Class A Common Stock	S	1331	$372.42	Disposed	403971	Indirect
2025-09-24	Class A Common Stock	S	1331	$372.42	Disposed	503971	Indirect
2025-09-24	Class A Common Stock	S	871	$373.61	Disposed	403100	Indirect
2025-09-24	Class A Common Stock	S	871	$373.61	Disposed	503100	Indirect
2025-09-24	Class A Common Stock	S	320	$374.55	Disposed	402780	Indirect
2025-09-24	Class A Common Stock	S	320	$374.55	Disposed	502780	Indirect
2025-09-24	Class A Common Stock	S	440	$375.57	Disposed	402340	Indirect
2025-09-24	Class A Common Stock	S	440	$375.57	Disposed	502340	Indirect
2025-09-24	Class A Common Stock	S	525	$377.04	Disposed	401815	Indirect
2025-09-24	Class A Common Stock	S	525	$377.04	Disposed	501815	Indirect
2025-09-24	Class A Common Stock	S	375	$378.39	Disposed	401440	Indirect
2025-09-24	Class A Common Stock	S	375	$378.39	Disposed	501440	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: 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.

F3: 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.

F4: 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.

F5: This transaction was executed in multiple trades at prices ranging from $371.05 to $372.02, inclusive.

F6: This transaction was executed in multiple trades at prices ranging from $372.07 to $373.02, inclusive.

F7: This transaction was executed in multiple trades at prices ranging from $373.06 to $373.97, inclusive.

F8: This transaction was executed in multiple trades at prices ranging from $374.11 to $374.80, inclusive.

F9: This transaction was executed in multiple trades at prices ranging from $375.13 to $376.10, inclusive.

F10: This transaction was executed in multiple trades at prices ranging from $376.52 to $377.51, inclusive.

F11: This transaction was executed in multiple trades at prices ranging from $377.99 to $378.96, inclusive.