CARVANA CO. — Director's Dealing 2025

Aug 4, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARVANA CO. (CVNA)
CIK: 0001690820
Period of Report: 2025-07-31

Reporting Person: HUSTON BENJAMIN E. (Chief Operating Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-07-31	Class A Common Stock	M	40000	$10.07	Acquired	166855	Direct
2025-07-31	Class A Common Stock	S	13018	$393.72	Disposed	153837	Direct
2025-07-31	Class A Common Stock	S	500	$399.20	Disposed	153337	Direct
2025-07-31	Class A Common Stock	S	26482	$400	Disposed	126855	Direct
2025-08-01	Class A Common Stock	S	700	$365.81	Disposed	126155	Direct
2025-08-01	Class A Common Stock	S	1417	$367.05	Disposed	124738	Direct
2025-08-01	Class A Common Stock	S	1169	$367.87	Disposed	123569	Direct
2025-08-01	Class A Common Stock	S	1120	$368.89	Disposed	122449	Direct
2025-08-01	Class A Common Stock	S	1500	$369.91	Disposed	120949	Direct
2025-08-01	Class A Common Stock	S	700	$370.98	Disposed	120249	Direct
2025-08-01	Class A Common Stock	S	521	$372.39	Disposed	119728	Direct
2025-08-01	Class A Common Stock	S	1073	$373.29	Disposed	118655	Direct
2025-08-01	Class A Common Stock	S	700	$374.37	Disposed	117955	Direct
2025-08-01	Class A Common Stock	S	500	$375.67	Disposed	117455	Direct
2025-08-01	Class A Common Stock	S	300	$377.57	Disposed	117155	Direct
2025-08-01	Class A Common Stock	S	200	$378.66	Disposed	116955	Direct
2025-08-01	Class A Common Stock	S	100	$380.88	Disposed	116855	Direct
2025-08-01	Class A Common Stock	F	1220	$367.78	Disposed	115635	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-07-31	Stock Options (Right to Buy)	$10.07	M	40000	Disposed	2033-02-22	Class A Common Stock (40000)	Direct

Footnotes

F1: The reported option exercises and sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 13, 2024 (the "10b5-1 Plan").

F2: This transaction was executed in multiple trades at prices ranging from $398.88 to $399.44, 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: This transaction was executed in multiple trades at prices ranging from $365.40 to $366.26, 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.

F4: This transaction was executed in multiple trades at prices ranging from $366.44 to $367.35, 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.

F5: This transaction was executed in multiple trades at prices ranging from $367.44 to $368.24, 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.

F6: This transaction was executed in multiple trades at prices ranging from $368.44 to $369.34, 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.

F7: This transaction was executed in multiple trades at prices ranging from $369.58 to $370.26, 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.

F8: This transaction was executed in multiple trades at prices ranging from $370.66 to $371.59, 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.

F9: This transaction was executed in multiple trades at prices ranging from $371.68 to $372.65, 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 $372.94 to $373.84, 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.

F11: This transaction was executed in multiple trades at prices ranging from $374.10 to $374.79, 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.

F12: This transaction was executed in multiple trades at prices ranging from $375.33 to $376.24, 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.

F13: This transaction was executed in multiple trades at prices ranging from $377.08 to $377.97, 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 $378.51 to $378.80, 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.

F15: 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.

F16: The non-qualified stock options representing the right to purchase for the exercise price Class A Common Stock of the Issuer vested 25% on April 1, 2024 and monthly thereafter for the following three years, subject to the Reporting Person's continued service with the Issuer.