CARVANA CO. — Director's Dealing 2025

Jul 11, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARVANA CO. (CVNA)
CIK: 0001690820
Period of Report: 2025-07-08

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
2025-07-08	Class A Common Stock	S	96	$343.43	Disposed	681344	Indirect
2025-07-08	Class A Common Stock	S	96	$343.46	Disposed	781344	Indirect
2025-07-08	Class A Common Stock	S	1429	$345.34	Disposed	679915	Indirect
2025-07-08	Class A Common Stock	S	1429	$345.34	Disposed	779915	Indirect
2025-07-08	Class A Common Stock	S	1040	$346.29	Disposed	678875	Indirect
2025-07-08	Class A Common Stock	S	1040	$346.29	Disposed	778875	Indirect
2025-07-08	Class A Common Stock	S	540	$347.31	Disposed	678335	Indirect
2025-07-08	Class A Common Stock	S	540	$347.31	Disposed	778335	Indirect
2025-07-08	Class A Common Stock	S	298	$348.53	Disposed	678037	Indirect
2025-07-08	Class A Common Stock	S	298	$348.53	Disposed	778037	Indirect
2025-07-08	Class A Common Stock	S	444	$349.95	Disposed	677593	Indirect
2025-07-08	Class A Common Stock	S	444	$349.95	Disposed	777593	Indirect
2025-07-08	Class A Common Stock	S	104	$351.04	Disposed	677489	Indirect
2025-07-08	Class A Common Stock	S	103	$351.57	Disposed	777490	Indirect
2025-07-08	Class A Common Stock	S	51	$352.01	Disposed	677438	Indirect
2025-07-08	Class A Common Stock	S	51	$352.01	Disposed	777439	Indirect
2025-07-08	Class A Common Stock	S	87	$353.33	Disposed	677351	Indirect
2025-07-08	Class A Common Stock	S	88	$354.18	Disposed	777351	Indirect
2025-07-08	Class A Common Stock	S	135	$354.69	Disposed	677216	Indirect
2025-07-08	Class A Common Stock	S	135	$354.69	Disposed	777216	Indirect
2025-07-08	Class A Common Stock	S	198	$356.35	Disposed	677018	Indirect
2025-07-08	Class A Common Stock	S	198	$356.35	Disposed	777018	Indirect
2025-07-08	Class A Common Stock	S	306	$357.45	Disposed	676712	Indirect
2025-07-08	Class A Common Stock	S	306	$357.45	Disposed	776712	Indirect
2025-07-08	Class A Common Stock	S	100	$358.07	Disposed	676612	Indirect
2025-07-08	Class A Common Stock	S	100	$359.01	Disposed	776612	Indirect
2025-07-09	Class A Common Stock	S	124	$359.73	Disposed	676488	Indirect
2025-07-09	Class A Common Stock	S	124	$359.73	Disposed	776488	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: 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.

F3: 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.

F4: This transaction was executed in multiple trades at prices ranging from $344.81 to $345.79 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.

F5: This transaction was executed in multiple trades at prices ranging from $345.84 to $346.80, 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 $346.99 to $347.82 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 $348.26 to $348.99 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.

F8: This transaction was executed in multiple trades at prices ranging from $349.48 to $350.44, 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.

F9: This transaction was executed in multiple trades at prices ranging from $350.86 to $351.30 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 $351.30 to $351.59 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 $352.00 to $352.50, 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 $353.19 to $354.18, 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 $354.20 to $355.15, 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 $355.90 to $356.81, 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 $357.04 to $358.01, 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 $359.36 to $360.03, 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.