CARVANA CO. — Director's Dealing 2025

Aug 7, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARVANA CO. (CVNA)
CIK: 0001690820
Period of Report: 2025-08-06

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
2025-08-06	Class A Common Stock	S	300	$346.81	Disposed	576140	Indirect
2025-08-06	Class A Common Stock	S	300	$346.81	Disposed	676140	Indirect
2025-08-06	Class A Common Stock	S	378	$347.20	Disposed	575762	Indirect
2025-08-06	Class A Common Stock	S	377	$347.87	Disposed	675763	Indirect
2025-08-06	Class A Common Stock	S	822	$349.08	Disposed	574940	Indirect
2025-08-06	Class A Common Stock	S	823	$349.52	Disposed	674940	Indirect
2025-08-06	Class A Common Stock	S	600	$350.09	Disposed	574340	Indirect
2025-08-06	Class A Common Stock	S	600	$350.09	Disposed	674340	Indirect
2025-08-06	Class A Common Stock	S	200	$351.19	Disposed	574140	Indirect
2025-08-06	Class A Common Stock	S	200	$351.19	Disposed	674140	Indirect
2025-08-06	Class A Common Stock	S	350	$352.99	Disposed	573790	Indirect
2025-08-06	Class A Common Stock	S	350	$352.99	Disposed	673790	Indirect
2025-08-06	Class A Common Stock	S	964	$354.38	Disposed	572826	Indirect
2025-08-06	Class A Common Stock	S	964	$354.38	Disposed	672826	Indirect
2025-08-06	Class A Common Stock	S	964	$355.03	Disposed	571862	Indirect
2025-08-06	Class A Common Stock	S	964	$355.03	Disposed	671862	Indirect
2025-08-06	Class A Common Stock	S	372	$356.24	Disposed	571490	Indirect
2025-08-06	Class A Common Stock	S	372	$356.24	Disposed	671490	Indirect
2025-08-06	Class A Common Stock	S	50	$357.07	Disposed	571440	Indirect
2025-08-06	Class A Common Stock	S	50	$357.07	Disposed	671440	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 $346.11 to $347.11 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 $347.17 to $347.21 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 $347.21 to $348.07 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.

F7: This transaction was executed in multiple trades at prices ranging from $348.71 to $349.34, 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.

F8: This transaction was executed in multiple trades at prices ranging from $349.34 to $349.68, 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 $349.90 to $350.49 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 $350.99 to $351.56 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 $352.42 to $353.32, 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 $353.75 to $354.69 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.

F13: This transaction was executed in multiple trades at prices ranging from $354.80 to $355.47 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 $355.96 to $356.64 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.