CARVANA CO. — Director's Dealing 2025

Aug 11, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARVANA CO. (CVNA)
CIK: 0001690820
Period of Report: 2025-08-07

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
2025-08-07	Class A Common Stock	S	400	$353.24	Disposed	571040	Indirect
2025-08-07	Class A Common Stock	S	400	$353.24	Disposed	671040	Indirect
2025-08-07	Class A Common Stock	S	472	$354.05	Disposed	570568	Indirect
2025-08-07	Class A Common Stock	S	472	$354.05	Disposed	670568	Indirect
2025-08-07	Class A Common Stock	S	1549	$355.10	Disposed	569019	Indirect
2025-08-07	Class A Common Stock	S	1548	$355.59	Disposed	669020	Indirect
2025-08-07	Class A Common Stock	S	729	$355.98	Disposed	568290	Indirect
2025-08-07	Class A Common Stock	S	730	$356.41	Disposed	668290	Indirect
2025-08-07	Class A Common Stock	S	200	$357.03	Disposed	568090	Indirect
2025-08-07	Class A Common Stock	S	200	$357.03	Disposed	668090	Indirect
2025-08-07	Class A Common Stock	S	250	$358.45	Disposed	567840	Indirect
2025-08-07	Class A Common Stock	S	250	$358.45	Disposed	667840	Indirect
2025-08-07	Class A Common Stock	S	246	$360	Disposed	567594	Indirect
2025-08-07	Class A Common Stock	S	246	$360	Disposed	667594	Indirect
2025-08-07	Class A Common Stock	S	188	$361.05	Disposed	567406	Indirect
2025-08-07	Class A Common Stock	S	188	$361.05	Disposed	667406	Indirect
2025-08-07	Class A Common Stock	S	304	$361.95	Disposed	567102	Indirect
2025-08-07	Class A Common Stock	S	304	$361.95	Disposed	667102	Indirect
2025-08-07	Class A Common Stock	S	162	$363.50	Disposed	566940	Indirect
2025-08-07	Class A Common Stock	S	162	$363.50	Disposed	666940	Indirect
2025-08-07	Class A Common Stock	S	250	$364.44	Disposed	566690	Indirect
2025-08-07	Class A Common Stock	S	250	$364.44	Disposed	666690	Indirect
2025-08-07	Class A Common Stock	S	50	$365.36	Disposed	566640	Indirect
2025-08-07	Class A Common Stock	S	50	$365.36	Disposed	666640	Indirect
2025-08-07	Class A Common Stock	S	150	$366.96	Disposed	566490	Indirect
2025-08-07	Class A Common Stock	S	150	$366.96	Disposed	666490	Indirect
2025-08-07	Class A Common Stock	S	50	$367.88	Disposed	666440	Indirect
2025-08-07	Class A Common Stock	S	50	$367.88	Disposed	566440	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 $352.72 to $353.61 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 $353.76 to $354.58 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 $354.82 to $355.30, 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.

F7: This transaction was executed in multiple trades at prices ranging from $355.30 to $355.80, 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 $355.83 to $356.06 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.

F9: This transaction was executed in multiple trades at prices ranging from $356.06 to $356.79 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.

F10: This transaction was executed in multiple trades at prices ranging from $356.84 to $357.35 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 $357.99 to $358.86, 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 $359.52 to $360.22 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 $360.60 to $361.40 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.

F14: This transaction was executed in multiple trades at prices ranging from $361.68 to $362.34 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.

F15: This transaction was executed in multiple trades at prices ranging from $362.98 to $363.98 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.

F16: This transaction was executed in multiple trades at prices ranging from $364.09 to $364.86 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.

F17: This transaction was executed in multiple trades at prices ranging from $366.81 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.