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: 2025-07-03

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
2025-07-03	Class A Common Stock	S	100	$339.35	Disposed	691340	Indirect
2025-07-03	Class A Common Stock	S	100	$339.35	Disposed	791340	Indirect
2025-07-03	Class A Common Stock	S	450	$341.09	Disposed	690890	Indirect
2025-07-03	Class A Common Stock	S	450	$341.09	Disposed	790890	Indirect
2025-07-03	Class A Common Stock	S	345	$342.82	Disposed	690545	Indirect
2025-07-03	Class A Common Stock	S	345	$342.82	Disposed	790545	Indirect
2025-07-03	Class A Common Stock	S	205	$344.08	Disposed	690340	Indirect
2025-07-03	Class A Common Stock	S	205	$344.08	Disposed	790340	Indirect
2025-07-03	Class A Common Stock	S	258	$344.97	Disposed	690082	Indirect
2025-07-03	Class A Common Stock	S	257	$345.44	Disposed	790083	Indirect
2025-07-03	Class A Common Stock	S	1202	$346.43	Disposed	688880	Indirect
2025-07-03	Class A Common Stock	S	1203	$346.70	Disposed	788880	Indirect
2025-07-03	Class A Common Stock	S	1317	$347.46	Disposed	687563	Indirect
2025-07-03	Class A Common Stock	S	1317	$347.46	Disposed	787563	Indirect
2025-07-03	Class A Common Stock	S	973	$348.29	Disposed	686590	Indirect
2025-07-03	Class A Common Stock	S	973	$348.29	Disposed	786590	Indirect
2025-07-03	Class A Common Stock	S	150	$349.31	Disposed	686440	Indirect
2025-07-03	Class A Common Stock	S	150	$349.31	Disposed	786440	Indirect
2025-07-07	Class A Common Stock	S	203	$347.77	Disposed	686237	Indirect
2025-07-07	Class A Common Stock	S	203	$347.77	Disposed	786237	Indirect
2025-07-07	Class A Common Stock	S	97	$348.75	Disposed	686140	Indirect
2025-07-07	Class A Common Stock	S	97	$348.75	Disposed	786140	Indirect
2025-07-07	Class A Common Stock	S	849	$350.24	Disposed	685291	Indirect
2025-07-07	Class A Common Stock	S	848	$350.81	Disposed	785292	Indirect
2025-07-07	Class A Common Stock	S	500	$351.45	Disposed	684791	Indirect
2025-07-07	Class A Common Stock	S	500	$351.45	Disposed	784792	Indirect
2025-07-07	Class A Common Stock	S	229	$352.23	Disposed	684562	Indirect
2025-07-07	Class A Common Stock	S	230	$352.75	Disposed	784562	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 $339.06 to $339.63 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.

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 $340.78 to $341.43 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.

F6: This transaction was executed in multiple trades at prices ranging from $342.59 to $343.50, 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.

F7: This transaction was executed in multiple trades at prices ranging from $343.60 to $344.49 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.

F8: This transaction was executed in multiple trades at prices ranging from $344.84 to $345.07 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 $345.07 to $345.84 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 $345.91 to $346.58, 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 $346.58 to $346.86 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.

F12: This transaction was executed in multiple trades at prices ranging from $346.95 to $347.88 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 $347.96 to $348.71, 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 $348.99 to $349.56, 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 $347.25 to $348.02, 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 $348.50 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.

F17: This transaction was executed in multiple trades at prices ranging from $350.13 to $350.48, 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.

F18: This transaction was executed in multiple trades at prices ranging from $350.48 to $351.11, 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 $351.16 to $351.86, 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.

F20: This transaction was executed in multiple trades at prices ranging from $352.21 to $352.25, 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.

F21: This transaction was executed in multiple trades at prices ranging from $352.25 to $353.15, 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.