CARVANA CO. — Director's Dealing 2025

Jul 14, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARVANA CO. (CVNA)
CIK: 0001690820
Period of Report: 2025-07-11

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
2025-07-11	Class A Common Stock	S	571	$342.78	Disposed	665869	Indirect
2025-07-11	Class A Common Stock	S	571	$342.78	Disposed	765869	Indirect
2025-07-11	Class A Common Stock	S	494	$343.43	Disposed	665375	Indirect
2025-07-11	Class A Common Stock	S	493	$343.96	Disposed	765376	Indirect
2025-07-11	Class A Common Stock	S	232	$344.79	Disposed	665143	Indirect
2025-07-11	Class A Common Stock	S	232	$344.79	Disposed	765144	Indirect
2025-07-11	Class A Common Stock	S	705	$345.62	Disposed	664438	Indirect
2025-07-11	Class A Common Stock	S	705	$345.62	Disposed	764439	Indirect
2025-07-11	Class A Common Stock	S	128	$346.93	Disposed	664310	Indirect
2025-07-11	Class A Common Stock	S	128	$346.93	Disposed	764311	Indirect
2025-07-11	Class A Common Stock	S	663	$348.02	Disposed	663647	Indirect
2025-07-11	Class A Common Stock	S	663	$348.02	Disposed	763648	Indirect
2025-07-11	Class A Common Stock	S	632	$349.04	Disposed	663015	Indirect
2025-07-11	Class A Common Stock	S	632	$349.04	Disposed	763016	Indirect
2025-07-11	Class A Common Stock	S	1160	$349.70	Disposed	661855	Indirect
2025-07-11	Class A Common Stock	S	1161	$350.10	Disposed	761855	Indirect
2025-07-11	Class A Common Stock	S	348	$350.58	Disposed	661507	Indirect
2025-07-11	Class A Common Stock	S	347	$350.90	Disposed	761508	Indirect
2025-07-11	Class A Common Stock	S	67	$351.54	Disposed	661440	Indirect
2025-07-11	Class A Common Stock	S	68	$351.64	Disposed	761440	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 $342.13 to $343.13 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 $343.14 to $343.78 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 $343.78 to $344.13 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 $344.15 to $345.13, 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 $345.17 to $346.13 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 $346.18 to $347.17 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.

F10: This transaction was executed in multiple trades at prices ranging from $347.41 to $348.39 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 $348.43 to $349.42 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.

F12: This transaction was executed in multiple trades at prices ranging from $349.45 to $349.91, 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 $349.91 to $350.42, 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.

F14: This transaction was executed in multiple trades at prices ranging from $350.46 to $350.70, 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 $350.70 to $351.43, 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.

F16: This transaction was executed in multiple trades at prices ranging from $351.52 to $351.63, 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.

F17: This transaction was executed in multiple trades at prices ranging from $351.63 to $351.68, 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.