CARVANA CO. — Director's Dealing 2025

Jul 17, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARVANA CO. (CVNA)
CIK: 0001690820
Period of Report: 2025-07-14

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
2025-07-14	Class A Common Stock	S	450	$343.87	Disposed	660990	Indirect
2025-07-14	Class A Common Stock	S	450	$343.87	Disposed	760990	Indirect
2025-07-14	Class A Common Stock	S	300	$345.21	Disposed	660690	Indirect
2025-07-14	Class A Common Stock	S	300	$345.21	Disposed	760690	Indirect
2025-07-14	Class A Common Stock	S	1016	$346.17	Disposed	659674	Indirect
2025-07-14	Class A Common Stock	S	1015	$346.64	Disposed	759675	Indirect
2025-07-14	Class A Common Stock	S	1074	$347.17	Disposed	658600	Indirect
2025-07-14	Class A Common Stock	S	1075	$347.62	Disposed	758600	Indirect
2025-07-14	Class A Common Stock	S	1284	$348.63	Disposed	657316	Indirect
2025-07-14	Class A Common Stock	S	1284	$348.63	Disposed	757316	Indirect
2025-07-14	Class A Common Stock	S	376	$349.05	Disposed	656940	Indirect
2025-07-14	Class A Common Stock	S	376	$349.05	Disposed	756940	Indirect
2025-07-14	Class A Common Stock	S	200	$350.15	Disposed	656740	Indirect
2025-07-14	Class A Common Stock	S	200	$350.15	Disposed	756740	Indirect
2025-07-14	Class A Common Stock	S	150	$351.83	Disposed	656590	Indirect
2025-07-14	Class A Common Stock	S	150	$351.83	Disposed	756590	Indirect
2025-07-14	Class A Common Stock	S	50	$352.51	Disposed	656540	Indirect
2025-07-14	Class A Common Stock	S	50	$352.51	Disposed	756540	Indirect
2025-07-14	Class A Common Stock	S	100	$353.67	Disposed	656440	Indirect
2025-07-14	Class A Common Stock	S	100	$354.40	Disposed	756440	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 $343.46 to $344.41 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.

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 $344.64 to $345.57 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 $345.86 to $346.45, 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.

F7: This transaction was executed in multiple trades at prices ranging from $346.45 to $346.85, 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 $346.87 to $347.49 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.

F9: This transaction was executed in multiple trades at prices ranging from $347.49 to $347.86 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.

F10: This transaction was executed in multiple trades at prices ranging from $347.93 to $348.93 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 $348.95 to $349.28, 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 $349.98 to $350.38 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 $351.49 to $352.03, 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.