CARVANA CO. — Director's Dealing 2025

Aug 5, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARVANA CO. (CVNA)
CIK: 0001690820
Period of Report: 2025-08-04

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
2025-08-04	Class A Common Stock	S	141	$366.45	Disposed	582672	Indirect
2025-08-04	Class A Common Stock	S	140	$366.90	Disposed	682673	Indirect
2025-08-04	Class A Common Stock	S	259	$367.62	Disposed	582413	Indirect
2025-08-04	Class A Common Stock	S	260	$368.32	Disposed	682413	Indirect
2025-08-04	Class A Common Stock	S	430	$368.94	Disposed	581983	Indirect
2025-08-04	Class A Common Stock	S	429	$369.44	Disposed	681984	Indirect
2025-08-04	Class A Common Stock	S	441	$369.79	Disposed	581542	Indirect
2025-08-04	Class A Common Stock	S	442	$370.37	Disposed	681542	Indirect
2025-08-04	Class A Common Stock	S	102	$370.74	Disposed	581440	Indirect
2025-08-04	Class A Common Stock	S	102	$370.74	Disposed	681440	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: This transaction was executed in multiple trades at prices ranging from $366.45 to $367.06 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.

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 $367.49 to $367.87 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.

F6: This transaction was executed in multiple trades at prices ranging from $367.87 to $368.49 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.

F7: This transaction was executed in multiple trades at prices ranging from $368.57 to $369.30, 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.

F8: This transaction was executed in multiple trades at prices ranging from $369.30 to $369.50, 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 $369.60 to $370.01 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 $370.01 to $370.58 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.

F11: This transaction was executed in multiple trades at prices ranging from $370.71 to $370.77 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.