CARVANA CO. — Director's Dealing 2025

Jul 3, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARVANA CO. (CVNA)
CIK: 0001690820
Period of Report: 2025-07-02

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
2025-07-02	Class A Common Stock	S	807	$342.41	Disposed	693352	Indirect
2025-07-02	Class A Common Stock	S	808	$342.99	Disposed	793352	Indirect
2025-07-02	Class A Common Stock	S	905	$343.54	Disposed	692447	Indirect
2025-07-02	Class A Common Stock	S	905	$343.54	Disposed	792447	Indirect
2025-07-02	Class A Common Stock	S	344	$344.53	Disposed	692103	Indirect
2025-07-02	Class A Common Stock	S	344	$344.53	Disposed	792103	Indirect
2025-07-02	Class A Common Stock	S	492	$345.58	Disposed	691611	Indirect
2025-07-02	Class A Common Stock	S	492	$345.58	Disposed	791611	Indirect
2025-07-02	Class A Common Stock	S	171	$346.91	Disposed	691440	Indirect
2025-07-02	Class A Common Stock	S	171	$346.91	Disposed	791440	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 $342.14 to $342.79 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.

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: This transaction was executed in multiple trades at prices ranging from $342.79 to $343.14 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: 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.

F6: This transaction was executed in multiple trades at prices ranging from $343.20 to $344.16 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 $344.26 to $345.11 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.

F8: This transaction was executed in multiple trades at prices ranging from $345.28 to $346.00 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 $346.47 to $347.21 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.