CARVANA CO. — Director's Dealing 2025

Aug 18, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARVANA CO. (CVNA)
CIK: 0001690820
Period of Report: 2025-08-14

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
2025-08-14	Class A Common Stock	S	179	$341.47	Disposed	546261	Indirect
2025-08-14	Class A Common Stock	S	179	$341.47	Disposed	646261	Indirect
2025-08-14	Class A Common Stock	S	729	$342.63	Disposed	545532	Indirect
2025-08-14	Class A Common Stock	S	728	$343.06	Disposed	645533	Indirect
2025-08-14	Class A Common Stock	S	692	$343.65	Disposed	544840	Indirect
2025-08-14	Class A Common Stock	S	692	$343.65	Disposed	644841	Indirect
2025-08-14	Class A Common Stock	S	1605	$344.75	Disposed	543235	Indirect
2025-08-14	Class A Common Stock	S	1605	$344.75	Disposed	643236	Indirect
2025-08-14	Class A Common Stock	S	1220	$345.48	Disposed	542015	Indirect
2025-08-14	Class A Common Stock	S	1221	$345.86	Disposed	642015	Indirect
2025-08-14	Class A Common Stock	S	310	$346.81	Disposed	541705	Indirect
2025-08-14	Class A Common Stock	S	310	$346.81	Disposed	641705	Indirect
2025-08-14	Class A Common Stock	S	239	$347.81	Disposed	541466	Indirect
2025-08-14	Class A Common Stock	S	239	$347.81	Disposed	641466	Indirect
2025-08-14	Class A Common Stock	S	26	$348.74	Disposed	541440	Indirect
2025-08-14	Class A Common Stock	S	26	$348.74	Disposed	641440	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 $341.12 to $341.96 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 $342.23 to $342.84 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 $342.84 to $343.23 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.

F7: This transaction was executed in multiple trades at prices ranging from $343.24 to $344.24, 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.

F8: This transaction was executed in multiple trades at prices ranging from $344.25 to $345.25 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 $345.26 to $345.69 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 $345.69 to $346.24 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.

F11: This transaction was executed in multiple trades at prices ranging from $346.29 to $347.20, 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 $347.30 to $348.30 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 $348.70 to $348.87 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.