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: 2025-07-30

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
2025-07-30	Class A Common Stock	S	130	$329.36	Disposed	601310	Indirect
2025-07-30	Class A Common Stock	S	130	$329.36	Disposed	701310	Indirect
2025-07-30	Class A Common Stock	S	146	$330.52	Disposed	601164	Indirect
2025-07-30	Class A Common Stock	S	146	$330.52	Disposed	701164	Indirect
2025-07-30	Class A Common Stock	S	233	$331.40	Disposed	600931	Indirect
2025-07-30	Class A Common Stock	S	233	$331.40	Disposed	700931	Indirect
2025-07-30	Class A Common Stock	S	179	$332.20	Disposed	600752	Indirect
2025-07-30	Class A Common Stock	S	178	$332.77	Disposed	700753	Indirect
2025-07-30	Class A Common Stock	S	411	$333.41	Disposed	600341	Indirect
2025-07-30	Class A Common Stock	S	412	$333.81	Disposed	700341	Indirect
2025-07-30	Class A Common Stock	S	1277	$334.42	Disposed	599064	Indirect
2025-07-30	Class A Common Stock	S	1276	$334.81	Disposed	699065	Indirect
2025-07-30	Class A Common Stock	S	720	$335.18	Disposed	598344	Indirect
2025-07-30	Class A Common Stock	S	721	$335.71	Disposed	698344	Indirect
2025-07-30	Class A Common Stock	S	862	$336.35	Disposed	597482	Indirect
2025-07-30	Class A Common Stock	S	861	$336.80	Disposed	697483	Indirect
2025-07-30	Class A Common Stock	S	553	$337.24	Disposed	596929	Indirect
2025-07-30	Class A Common Stock	S	554	$337.71	Disposed	696929	Indirect
2025-07-30	Class A Common Stock	S	218	$338.45	Disposed	596711	Indirect
2025-07-30	Class A Common Stock	S	218	$338.45	Disposed	696711	Indirect
2025-07-30	Class A Common Stock	S	210	$339.63	Disposed	596501	Indirect
2025-07-30	Class A Common Stock	S	210	$339.63	Disposed	696501	Indirect
2025-07-30	Class A Common Stock	S	61	$340.40	Disposed	596440	Indirect
2025-07-30	Class A Common Stock	S	61	$340.40	Disposed	696440	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 $328.87 to $329.87 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 $329.89 to $330.77 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.

F6: This transaction was executed in multiple trades at prices ranging from $330.92 to $331.86, 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 $331.96 to $332.45 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 $332.49 to $332.96 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.

F9: This transaction was executed in multiple trades at prices ranging from $332.97 to $333.60 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 $333.60 to $333.97 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.

F11: This transaction was executed in multiple trades at prices ranging from $333.99 to $334.64, 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 $334.64 to $334.99, 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.

F13: This transaction was executed in multiple trades at prices ranging from $335.00 to $335.41 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.

F14: This transaction was executed in multiple trades at prices ranging from $335.41 to $336.00 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 $336.02 to $336.60 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 $336.60 to $337.02 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 $337.05 to $337.44 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.

F18: This transaction was executed in multiple trades at prices ranging from $337.44 to $337.96 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.

F19: This transaction was executed in multiple trades at prices ranging from $338.19 to $339.07 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 $339.20 to $340.20 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 $340.28 to $340.65 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.