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: 2025-08-01

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
2025-08-01	Class A Common Stock	S	406	$365.28	Disposed	591034	Indirect
2025-08-01	Class A Common Stock	S	406	$365.28	Disposed	691034	Indirect
2025-08-01	Class A Common Stock	S	494	$366.84	Disposed	590540	Indirect
2025-08-01	Class A Common Stock	S	494	$366.84	Disposed	690540	Indirect
2025-08-01	Class A Common Stock	S	700	$367.96	Disposed	589840	Indirect
2025-08-01	Class A Common Stock	S	700	$367.96	Disposed	689840	Indirect
2025-08-01	Class A Common Stock	S	300	$368.62	Disposed	589540	Indirect
2025-08-01	Class A Common Stock	S	300	$368.62	Disposed	689540	Indirect
2025-08-01	Class A Common Stock	S	800	$369.81	Disposed	588740	Indirect
2025-08-01	Class A Common Stock	S	800	$369.81	Disposed	688740	Indirect
2025-08-01	Class A Common Stock	S	500	$370.97	Disposed	588240	Indirect
2025-08-01	Class A Common Stock	S	500	$370.97	Disposed	688240	Indirect
2025-08-01	Class A Common Stock	S	300	$372.16	Disposed	587940	Indirect
2025-08-01	Class A Common Stock	S	300	$372.16	Disposed	687940	Indirect
2025-08-01	Class A Common Stock	S	550	$373.11	Disposed	587390	Indirect
2025-08-01	Class A Common Stock	S	550	$373.11	Disposed	687390	Indirect
2025-08-01	Class A Common Stock	S	300	$374.55	Disposed	587090	Indirect
2025-08-01	Class A Common Stock	S	300	$374.55	Disposed	687090	Indirect
2025-08-01	Class A Common Stock	S	300	$375.79	Disposed	586790	Indirect
2025-08-01	Class A Common Stock	S	300	$375.79	Disposed	686790	Indirect
2025-08-01	Class A Common Stock	S	150	$377.03	Disposed	586640	Indirect
2025-08-01	Class A Common Stock	S	150	$377.03	Disposed	686640	Indirect
2025-08-01	Class A Common Stock	S	100	$377.94	Disposed	586540	Indirect
2025-08-01	Class A Common Stock	S	100	$377.94	Disposed	686540	Indirect
2025-08-01	Class A Common Stock	S	50	$378.66	Disposed	586490	Indirect
2025-08-01	Class A Common Stock	S	50	$378.66	Disposed	686490	Indirect
2025-08-01	Class A Common Stock	S	50	$381.36	Disposed	586440	Indirect
2025-08-01	Class A Common Stock	S	50	$381.36	Disposed	686440	Indirect
2025-08-01	Class A Common Stock	F	1229	$367.78	Disposed	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 $365.02 to $365.54 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 $366.32 to $367.27 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 $367.42 to $368.40, 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.

F7: This transaction was executed in multiple trades at prices ranging from $368.43 to $368.90 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.

F8: This transaction was executed in multiple trades at prices ranging from $369.49 to $370.49 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.

F9: This transaction was executed in multiple trades at prices ranging from $370.53 to $371.41, 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 $371.63 to $372.63 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 $372.67 to $373.59 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 $374.06 to $374.85 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 $375.29 to $376.17 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 $376.57 to $377.47 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.

F15: This transaction was executed in multiple trades at prices ranging from $377.58 to $378.30 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.

F16: Represents total number of shares of Class A Common Stock of the Issuer withheld for taxes upon vesting of restricted stock units pursuant to various awards.