CARVANA CO. — Director's Dealing 2025

Aug 1, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

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

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
2025-07-31	Class A Common Stock	S	100	$397.08	Disposed	592690	Indirect
2025-07-31	Class A Common Stock	S	100	$397.08	Disposed	692690	Indirect
2025-07-31	Class A Common Stock	S	147	$399.03	Disposed	592543	Indirect
2025-07-31	Class A Common Stock	S	147	$399.03	Disposed	692543	Indirect
2025-07-31	Class A Common Stock	S	103	$400.13	Disposed	592440	Indirect
2025-07-31	Class A Common Stock	S	103	$400.13	Disposed	692440	Indirect
2025-07-31	Class A Common Stock	S	245	$401.45	Disposed	592195	Indirect
2025-07-31	Class A Common Stock	S	245	$401.45	Disposed	692195	Indirect
2025-07-31	Class A Common Stock	S	55	$402.18	Disposed	592140	Indirect
2025-07-31	Class A Common Stock	S	55	$402.18	Disposed	692140	Indirect
2025-07-31	Class A Common Stock	S	150	$403.95	Disposed	591990	Indirect
2025-07-31	Class A Common Stock	S	150	$403.95	Disposed	691990	Indirect
2025-07-31	Class A Common Stock	S	150	$405.56	Disposed	591840	Indirect
2025-07-31	Class A Common Stock	S	150	$405.56	Disposed	691840	Indirect
2025-07-31	Class A Common Stock	S	100	$406.84	Disposed	591740	Indirect
2025-07-31	Class A Common Stock	S	100	$406.84	Disposed	691740	Indirect
2025-07-31	Class A Common Stock	S	200	$409.11	Disposed	591540	Indirect
2025-07-31	Class A Common Stock	S	200	$409.11	Disposed	691540	Indirect
2025-07-31	Class A Common Stock	S	50	$410.89	Disposed	591490	Indirect
2025-07-31	Class A Common Stock	S	50	$410.89	Disposed	691490	Indirect
2025-07-31	Class A Common Stock	S	50	$412.77	Disposed	591440	Indirect
2025-07-31	Class A Common Stock	S	50	$412.77	Disposed	691440	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	924384	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 $396.78 to $397.42 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 $398.74 to $399.34 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.

F6: This transaction was executed in multiple trades at prices ranging from $400.02 to $400.53, 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 $401.05 to $401.99 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 $402.12 to $402.81 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.

F9: This transaction was executed in multiple trades at prices ranging from $403.86 to $404.01, 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 $405.15 to $406.12 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 $406.49 to $407.18 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 $408.61 to $409.49 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.