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	343	$383.85	Disposed	596097	Indirect
2025-07-31	Class A Common Stock	S	343	$383.85	Disposed	696097	Indirect
2025-07-31	Class A Common Stock	S	300	$385.14	Disposed	595797	Indirect
2025-07-31	Class A Common Stock	S	300	$385.14	Disposed	695797	Indirect
2025-07-31	Class A Common Stock	S	250	$385.80	Disposed	595547	Indirect
2025-07-31	Class A Common Stock	S	250	$385.80	Disposed	695547	Indirect
2025-07-31	Class A Common Stock	S	400	$387.01	Disposed	595147	Indirect
2025-07-31	Class A Common Stock	S	400	$387.01	Disposed	695147	Indirect
2025-07-31	Class A Common Stock	S	207	$388.17	Disposed	594940	Indirect
2025-07-31	Class A Common Stock	S	207	$388.17	Disposed	694940	Indirect
2025-07-31	Class A Common Stock	S	450	$389.24	Disposed	594490	Indirect
2025-07-31	Class A Common Stock	S	450	$389.24	Disposed	694490	Indirect
2025-07-31	Class A Common Stock	S	450	$390.22	Disposed	594040	Indirect
2025-07-31	Class A Common Stock	S	450	$390.22	Disposed	694040	Indirect
2025-07-31	Class A Common Stock	S	100	$391.34	Disposed	593940	Indirect
2025-07-31	Class A Common Stock	S	100	$391.34	Disposed	693940	Indirect
2025-07-31	Class A Common Stock	S	300	$392.87	Disposed	593640	Indirect
2025-07-31	Class A Common Stock	S	300	$392.87	Disposed	693640	Indirect
2025-07-31	Class A Common Stock	S	200	$393.55	Disposed	593440	Indirect
2025-07-31	Class A Common Stock	S	200	$393.55	Disposed	693440	Indirect
2025-07-31	Class A Common Stock	S	450	$394.86	Disposed	592990	Indirect
2025-07-31	Class A Common Stock	S	450	$394.86	Disposed	692990	Indirect
2025-07-31	Class A Common Stock	S	200	$396.03	Disposed	592790	Indirect
2025-07-31	Class A Common Stock	S	200	$396.03	Disposed	692790	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 $383.40 to $384.21 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 $384.41 to $385.40 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.

F6: This transaction was executed in multiple trades at prices ranging from $385.47 to $386.17, 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.

F7: This transaction was executed in multiple trades at prices ranging from $386.64 to $387.44 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.

F8: This transaction was executed in multiple trades at prices ranging from $387.70 to $388.63 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.

F9: This transaction was executed in multiple trades at prices ranging from $388.75 to $389.71, 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 $389.81 to $390.69 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 $391.19 to $391.49 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.

F12: This transaction was executed in multiple trades at prices ranging from $392.24 to $393.23 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 $393.25 to $394.24 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.

F14: This transaction was executed in multiple trades at prices ranging from $394.38 to $395.34 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.

F15: This transaction was executed in multiple trades at prices ranging from $395.61 to $396.41 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.