CARVANA CO. — Director's Dealing 2025

Jul 9, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

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

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
2025-07-07	Class A Common Stock	S	422	$353.79	Disposed	684140	Indirect
2025-07-07	Class A Common Stock	S	422	$353.79	Disposed	784140	Indirect
2025-07-07	Class A Common Stock	S	850	$355.31	Disposed	683290	Indirect
2025-07-07	Class A Common Stock	S	850	$355.31	Disposed	783290	Indirect
2025-07-07	Class A Common Stock	S	300	$356.19	Disposed	682990	Indirect
2025-07-07	Class A Common Stock	S	300	$356.19	Disposed	782990	Indirect
2025-07-07	Class A Common Stock	S	250	$357.09	Disposed	682740	Indirect
2025-07-07	Class A Common Stock	S	250	$357.09	Disposed	782740	Indirect
2025-07-07	Class A Common Stock	S	1000	$358.46	Disposed	681740	Indirect
2025-07-07	Class A Common Stock	S	1000	$358.46	Disposed	781740	Indirect
2025-07-07	Class A Common Stock	S	300	$359.41	Disposed	681440	Indirect
2025-07-07	Class A Common Stock	S	300	$359.41	Disposed	781440	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 $353.29 to $354.25, 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 $354.76 to $355.72 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.

F6: This transaction was executed in multiple trades at prices ranging from $355.79 to $356.74 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.

F7: This transaction was executed in multiple trades at prices ranging from $356.88 to $357.48 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 $357.94 to $358.91 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.

F9: This transaction was executed in multiple trades at prices ranging from $358.95 to $359.73 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.