CARVANA CO. — Director's Dealing 2025

Aug 14, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARVANA CO. (CVNA)
CIK: 0001690820
Period of Report: 2025-08-13

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
2025-08-13	Class A Common Stock	S	50	$343.83	Disposed	551390	Indirect
2025-08-13	Class A Common Stock	S	50	$343.83	Disposed	651390	Indirect
2025-08-13	Class A Common Stock	S	400	$345.55	Disposed	550990	Indirect
2025-08-13	Class A Common Stock	S	400	$345.55	Disposed	650990	Indirect
2025-08-13	Class A Common Stock	S	800	$346.49	Disposed	550190	Indirect
2025-08-13	Class A Common Stock	S	800	$346.49	Disposed	650190	Indirect
2025-08-13	Class A Common Stock	S	850	$347.53	Disposed	549340	Indirect
2025-08-13	Class A Common Stock	S	850	$347.53	Disposed	649340	Indirect
2025-08-13	Class A Common Stock	S	800	$348.70	Disposed	548540	Indirect
2025-08-13	Class A Common Stock	S	800	$348.70	Disposed	648540	Indirect
2025-08-13	Class A Common Stock	S	1016	$349.65	Disposed	547524	Indirect
2025-08-13	Class A Common Stock	S	1016	$349.65	Disposed	647524	Indirect
2025-08-13	Class A Common Stock	S	1034	$350.67	Disposed	546490	Indirect
2025-08-13	Class A Common Stock	S	1034	$350.67	Disposed	646490	Indirect
2025-08-13	Class A Common Stock	S	50	$351.24	Disposed	546440	Indirect
2025-08-13	Class A Common Stock	S	50	$351.24	Disposed	646440	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: 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: This transaction was executed in multiple trades at prices ranging from $344.91 to $345.90 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.

F5: This transaction was executed in multiple trades at prices ranging from $345.95 to $346.95, 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 $346.99 to $347.99 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.

F7: This transaction was executed in multiple trades at prices ranging from $348.07 to $349.06 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 $349.11 to $350.07, 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 $350.19 to $351.09 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.