CARVANA CO. — Director's Dealing 2025

Jul 18, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARVANA CO. (CVNA)
CIK: 0001690820
Period of Report: 2025-07-17

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
2025-07-17	Class A Common Stock	S	600	$345.20	Disposed	645840	Indirect
2025-07-17	Class A Common Stock	S	600	$345.20	Disposed	745840	Indirect
2025-07-17	Class A Common Stock	S	800	$346.12	Disposed	645040	Indirect
2025-07-17	Class A Common Stock	S	800	$346.12	Disposed	745040	Indirect
2025-07-17	Class A Common Stock	S	909	$347.18	Disposed	644131	Indirect
2025-07-17	Class A Common Stock	S	908	$347.67	Disposed	744132	Indirect
2025-07-17	Class A Common Stock	S	411	$348.12	Disposed	643720	Indirect
2025-07-17	Class A Common Stock	S	412	$348.51	Disposed	743720	Indirect
2025-07-17	Class A Common Stock	S	369	$349.21	Disposed	643351	Indirect
2025-07-17	Class A Common Stock	S	368	$349.75	Disposed	743352	Indirect
2025-07-17	Class A Common Stock	S	161	$350.22	Disposed	643190	Indirect
2025-07-17	Class A Common Stock	S	162	$350.62	Disposed	743190	Indirect
2025-07-17	Class A Common Stock	S	350	$351.89	Disposed	642840	Indirect
2025-07-17	Class A Common Stock	S	350	$351.89	Disposed	742840	Indirect
2025-07-17	Class A Common Stock	S	687	$353.25	Disposed	642153	Indirect
2025-07-17	Class A Common Stock	S	687	$353.25	Disposed	742153	Indirect
2025-07-17	Class A Common Stock	S	263	$354.38	Disposed	641890	Indirect
2025-07-17	Class A Common Stock	S	263	$354.38	Disposed	741890	Indirect
2025-07-17	Class A Common Stock	S	200	$355.96	Disposed	641690	Indirect
2025-07-17	Class A Common Stock	S	200	$355.96	Disposed	741690	Indirect
2025-07-17	Class A Common Stock	S	150	$356.81	Disposed	641540	Indirect
2025-07-17	Class A Common Stock	S	150	$356.81	Disposed	741540	Indirect
2025-07-17	Class A Common Stock	S	100	$358.19	Disposed	641440	Indirect
2025-07-17	Class A Common Stock	S	100	$358.19	Disposed	741440	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 $344.74 to $345.61 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 $345.77 to $346.77 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 $346.98 to $347.42, 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.

F7: This transaction was executed in multiple trades at prices ranging from $347.42 to $347.98, 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 $347.99 to $348.40 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.

F9: This transaction was executed in multiple trades at prices ranging from $348.40 to $348.96 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.

F10: This transaction was executed in multiple trades at prices ranging from $349.03 to $349.29 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 $349.29 to $349.99 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.

F12: This transaction was executed in multiple trades at prices ranging from $350.10 to $350.55, 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 $350.55 to $350.68, 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 $351.52 to $352.26 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.

F15: This transaction was executed in multiple trades at prices ranging from $352.78 to $353.74, 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 $353.86 to $354.72 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 $355.48 to $356.43 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 $356.52 to $357.23, 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.

F19: This transaction was executed in multiple trades at prices ranging from $357.74 to $358.49, 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.