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	478	$377.09	Disposed	425962	Indirect
2025-09-18	Class A Common Stock	S	478	$377.09	Disposed	525962	Indirect
2025-09-18	Class A Common Stock	S	200	$378.32	Disposed	425762	Indirect
2025-09-18	Class A Common Stock	S	200	$378.32	Disposed	525762	Indirect
2025-09-18	Class A Common Stock	S	550	$380.03	Disposed	425212	Indirect
2025-09-18	Class A Common Stock	S	550	$380.03	Disposed	525212	Indirect
2025-09-18	Class A Common Stock	S	411	$381.07	Disposed	424801	Indirect
2025-09-18	Class A Common Stock	S	410	$381.69	Disposed	524802	Indirect
2025-09-18	Class A Common Stock	S	311	$382.23	Disposed	424490	Indirect
2025-09-18	Class A Common Stock	S	312	$382.53	Disposed	524490	Indirect
2025-09-18	Class A Common Stock	S	148	$383.96	Disposed	424342	Indirect
2025-09-18	Class A Common Stock	S	148	$383.96	Disposed	524342	Indirect
2025-09-18	Class A Common Stock	S	102	$384.85	Disposed	424240	Indirect
2025-09-18	Class A Common Stock	S	102	$384.85	Disposed	524240	Indirect
2025-09-18	Class A Common Stock	S	200	$386.07	Disposed	424040	Indirect
2025-09-18	Class A Common Stock	S	200	$386.07	Disposed	524040	Indirect
2025-09-18	Class A Common Stock	S	105	$387.51	Disposed	423935	Indirect
2025-09-18	Class A Common Stock	S	105	$387.51	Disposed	523935	Indirect
2025-09-18	Class A Common Stock	S	645	$388.42	Disposed	423290	Indirect
2025-09-18	Class A Common Stock	S	645	$388.42	Disposed	523290	Indirect
2025-09-18	Class A Common Stock	S	450	$389.47	Disposed	422840	Indirect
2025-09-18	Class A Common Stock	S	450	$389.47	Disposed	522840	Indirect
2025-09-18	Class A Common Stock	S	350	$390.55	Disposed	422490	Indirect
2025-09-18	Class A Common Stock	S	350	$390.55	Disposed	522490	Indirect
2025-09-18	Class A Common Stock	S	311	$391.46	Disposed	422179	Indirect
2025-09-18	Class A Common Stock	S	311	$391.46	Disposed	522179	Indirect
2025-09-18	Class A Common Stock	S	389	$392.72	Disposed	421790	Indirect
2025-09-18	Class A Common Stock	S	389	$392.72	Disposed	521790	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 $376.78 to $377.59 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 $378.14 to $378.52, inclusive.

F7: This transaction was executed in multiple trades at prices ranging from $379.52 to $380.52, inclusive.

F8: This transaction was executed in multiple trades at prices ranging from $380.99 to $381.33, inclusive.

F9: This transaction was executed in multiple trades at prices ranging from $381.33 to $381.96, inclusive.

F10: This transaction was executed in multiple trades at prices ranging from $382.07 to $382.43, inclusive.

F11: This transaction was executed in multiple trades at prices ranging from $382.49 to $382.59, inclusive.

F12: This transaction was executed in multiple trades at prices ranging from $383.69 to $384.46, inclusive.

F13: This transaction was executed in multiple trades at prices ranging from $384.72 to $384.98, inclusive.

F14: This transaction was executed in multiple trades at prices ranging from $385.85 to $386.20, inclusive.

F15: This transaction was executed in multiple trades at prices ranging from $387.03 to $388.02, inclusive.

F16: This transaction was executed in multiple trades at prices ranging from $388.03 to $388.99, inclusive.

F17: This transaction was executed in multiple trades at prices ranging from $389.04 to $389.89, inclusive.

F18: This transaction was executed in multiple trades at prices ranging from $390.05 to $391.04, inclusive.

F19: This transaction was executed in multiple trades at prices ranging from $391.17 to $392.07, inclusive.

F20: This transaction was executed in multiple trades at prices ranging from $392.18 to $393.14, inclusive.