CARVANA CO. — Director's Dealing 2025

Sep 2, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARVANA CO. (CVNA)
CIK: 0001690820
Period of Report: 2025-08-29

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
2025-08-29	Class A Common Stock	S	150	$366.82	Disposed	491290	Indirect
2025-08-29	Class A Common Stock	S	150	$366.82	Disposed	591290	Indirect
2025-08-29	Class A Common Stock	S	1350	$367.92	Disposed	489940	Indirect
2025-08-29	Class A Common Stock	S	1350	$367.92	Disposed	589940	Indirect
2025-08-29	Class A Common Stock	S	900	$369.02	Disposed	489040	Indirect
2025-08-29	Class A Common Stock	S	900	$369.02	Disposed	589040	Indirect
2025-08-29	Class A Common Stock	S	700	$370.27	Disposed	488340	Indirect
2025-08-29	Class A Common Stock	S	700	$370.27	Disposed	588340	Indirect
2025-08-29	Class A Common Stock	S	750	$371.20	Disposed	487590	Indirect
2025-08-29	Class A Common Stock	S	750	$371.20	Disposed	587590	Indirect
2025-08-29	Class A Common Stock	S	629	$372.17	Disposed	486961	Indirect
2025-08-29	Class A Common Stock	S	628	$372.47	Disposed	586962	Indirect
2025-08-29	Class A Common Stock	S	271	$373.86	Disposed	486690	Indirect
2025-08-29	Class A Common Stock	S	272	$374.28	Disposed	586690	Indirect
2025-08-29	Class A Common Stock	S	50	$374.99	Disposed	486640	Indirect
2025-08-29	Class A Common Stock	S	50	$374.99	Disposed	586640	Indirect
2025-08-29	Class A Common Stock	S	150	$376.52	Disposed	486490	Indirect
2025-08-29	Class A Common Stock	S	150	$376.52	Disposed	586490	Indirect
2025-08-29	Class A Common Stock	S	50	$378.25	Disposed	486440	Indirect
2025-08-29	Class A Common Stock	S	50	$378.25	Disposed	586440	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	923155	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: This transaction was executed in multiple trades at prices ranging from $366.33 to $367.24 inclusive. 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: 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.

F4: 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.

F5: This transaction was executed in multiple trades at prices ranging from $367.39 to $368.34 inclusive. 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.

F6: This transaction was executed in multiple trades at prices ranging from $368.49 to $369.33 inclusive. 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.

F7: This transaction was executed in multiple trades at prices ranging from $369.81 to $370.64, inclusive. 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.

F8: This transaction was executed in multiple trades at prices ranging from $370.87 to $371.79, inclusive. 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.

F9: This transaction was executed in multiple trades at prices ranging from $372.07 to $372.23, inclusive. 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.

F10: This transaction was executed in multiple trades at prices ranging from $372.23 to $372.88, inclusive. 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.

F11: This transaction was executed in multiple trades at prices ranging from $373.80 to $373.99, inclusive. 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.

F12: This transaction was executed in multiple trades at prices ranging from $373.99 to $374.60, inclusive. 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.

F13: This transaction was executed in multiple trades at prices ranging from $376.06 to $376.97, inclusive. 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.