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	236	$353.48	Disposed	586204	Indirect
2025-08-04	Class A Common Stock	S	236	$353.48	Disposed	686204	Indirect
2025-08-04	Class A Common Stock	S	204	$354.34	Disposed	586000	Indirect
2025-08-04	Class A Common Stock	S	203	$354.87	Disposed	686001	Indirect
2025-08-04	Class A Common Stock	S	304	$355.54	Disposed	585696	Indirect
2025-08-04	Class A Common Stock	S	304	$355.54	Disposed	685697	Indirect
2025-08-04	Class A Common Stock	S	169	$356.25	Disposed	585527	Indirect
2025-08-04	Class A Common Stock	S	170	$356.55	Disposed	685527	Indirect
2025-08-04	Class A Common Stock	S	161	$357.73	Disposed	585366	Indirect
2025-08-04	Class A Common Stock	S	161	$357.73	Disposed	685366	Indirect
2025-08-04	Class A Common Stock	S	125	$359.32	Disposed	585241	Indirect
2025-08-04	Class A Common Stock	S	124	$359.59	Disposed	685242	Indirect
2025-08-04	Class A Common Stock	S	78	$360.13	Disposed	585163	Indirect
2025-08-04	Class A Common Stock	S	78	$360.13	Disposed	685164	Indirect
2025-08-04	Class A Common Stock	S	513	$361.63	Disposed	584650	Indirect
2025-08-04	Class A Common Stock	S	513	$361.63	Disposed	684651	Indirect
2025-08-04	Class A Common Stock	S	187	$362.30	Disposed	584463	Indirect
2025-08-04	Class A Common Stock	S	188	$363.01	Disposed	684463	Indirect
2025-08-04	Class A Common Stock	S	517	$363.68	Disposed	583946	Indirect
2025-08-04	Class A Common Stock	S	517	$363.68	Disposed	683946	Indirect
2025-08-04	Class A Common Stock	S	877	$364.54	Disposed	583069	Indirect
2025-08-04	Class A Common Stock	S	876	$365.03	Disposed	683070	Indirect
2025-08-04	Class A Common Stock	S	256	$365.59	Disposed	582813	Indirect
2025-08-04	Class A Common Stock	S	257	$365.98	Disposed	682813	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 $353.08 to $354.04 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 $354.12 to $354.66 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 $354.66 to $355.09 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.

F7: This transaction was executed in multiple trades at prices ranging from $355.13 to $356.03, 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 $356.19 to $356.32 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.

F9: This transaction was executed in multiple trades at prices ranging from $356.32 to $357.14 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 $357.20 to $357.96 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.

F11: This transaction was executed in multiple trades at prices ranging from $358.84 to $359.47 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.

F12: This transaction was executed in multiple trades at prices ranging from $359.47 to $359.68, 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.

F13: This transaction was executed in multiple trades at prices ranging from $359.85 to $360.81 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 $361.19 to $362.09 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.

F15: This transaction was executed in multiple trades at prices ranging from $362.23 to $362.49 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.

F16: This transaction was executed in multiple trades at prices ranging from $362.49 to $363.22 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.

F17: This transaction was executed in multiple trades at prices ranging from $363.28 to $364.26 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.

F18: This transaction was executed in multiple trades at prices ranging from $364.33 to $364.77 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.

F19: This transaction was executed in multiple trades at prices ranging from $364.77 to $365.32 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.

F20: This transaction was executed in multiple trades at prices ranging from $365.44 to $365.84 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.

F21: This transaction was executed in multiple trades at prices ranging from $365.84 to $366.29 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.