CARVANA CO. — Director's Dealing 2025

Sep 20, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARVANA CO. (CVNA)
CIK: 0001690820
Period of Report: 2025-09-18

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
2025-09-18	Class A Common Stock	S	200	$393.58	Disposed	421590	Indirect
2025-09-18	Class A Common Stock	S	200	$393.58	Disposed	521590	Indirect
2025-09-18	Class A Common Stock	S	100	$395.10	Disposed	421490	Indirect
2025-09-18	Class A Common Stock	S	100	$395.10	Disposed	521490	Indirect
2025-09-18	Class A Common Stock	S	50	$395.99	Disposed	421440	Indirect
2025-09-18	Class A Common Stock	S	50	$395.99	Disposed	521440	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 $393.21 to $393.83, 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 $394.71 to $395.48, inclusive.