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: 2025-07-01

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
2025-07-01	Class A Common Stock	F	1229	$338.26	Disposed	924384	Direct
2025-07-01	Class A Common Stock	S	150	$333.26	Disposed	701290	Indirect
2025-07-01	Class A Common Stock	S	150	$333.26	Disposed	801290	Indirect
2025-07-01	Class A Common Stock	S	150	$334.48	Disposed	701140	Indirect
2025-07-01	Class A Common Stock	S	150	$334.48	Disposed	801140	Indirect
2025-07-01	Class A Common Stock	S	772	$335.74	Disposed	700368	Indirect
2025-07-01	Class A Common Stock	S	772	$335.74	Disposed	800368	Indirect
2025-07-01	Class A Common Stock	S	600	$336.83	Disposed	699768	Indirect
2025-07-01	Class A Common Stock	S	600	$336.83	Disposed	799768	Indirect
2025-07-01	Class A Common Stock	S	900	$337.95	Disposed	698868	Indirect
2025-07-01	Class A Common Stock	S	900	$337.95	Disposed	798868	Indirect
2025-07-01	Class A Common Stock	S	1028	$338.77	Disposed	697840	Indirect
2025-07-01	Class A Common Stock	S	1028	$338.77	Disposed	797840	Indirect
2025-07-01	Class A Common Stock	S	496	$340.12	Disposed	697344	Indirect
2025-07-01	Class A Common Stock	S	495	$340.59	Disposed	797345	Indirect
2025-07-01	Class A Common Stock	S	649	$341.08	Disposed	696695	Indirect
2025-07-01	Class A Common Stock	S	650	$341.53	Disposed	796695	Indirect
2025-07-01	Class A Common Stock	S	205	$342.32	Disposed	696490	Indirect
2025-07-01	Class A Common Stock	S	205	$342.32	Disposed	796490	Indirect
2025-07-01	Class A Common Stock	S	50	$343.19	Disposed	696440	Indirect
2025-07-01	Class A Common Stock	S	50	$343.19	Disposed	796440	Indirect
2025-07-02	Class A Common Stock	S	162	$337.89	Disposed	696278	Indirect
2025-07-02	Class A Common Stock	S	162	$337.89	Disposed	796278	Indirect
2025-07-02	Class A Common Stock	S	324	$339.28	Disposed	695954	Indirect
2025-07-02	Class A Common Stock	S	323	$339.82	Disposed	795955	Indirect
2025-07-02	Class A Common Stock	S	1043	$340.60	Disposed	694911	Indirect
2025-07-02	Class A Common Stock	S	1043	$340.60	Disposed	794912	Indirect
2025-07-02	Class A Common Stock	S	752	$341.54	Disposed	694159	Indirect
2025-07-02	Class A Common Stock	S	752	$341.54	Disposed	794160	Indirect

Footnotes

F1: Represents total number of shares of Class A Common Stock of the Issuer withheld for taxes upon vesting of restricted stock units pursuant to various awards.

F2: The reported sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 13, 2024.

F3: This transaction was executed in multiple trades at prices ranging from $332.86 to $333.74 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.

F4: 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.

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 $334.11 to $334.67 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 $335.25 to $336.23, 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 $336.38 to $337.30 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.

F9: This transaction was executed in multiple trades at prices ranging from $337.44 to $338.35 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 $338.46 to $339.18, 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.

F11: This transaction was executed in multiple trades at prices ranging from $339.78 to $340.44 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.

F12: This transaction was executed in multiple trades at prices ranging from $340.44 to $340.73, 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.

F13: This transaction was executed in multiple trades at prices ranging from $340.83 to $341.38, 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 $341.38 to $341.75, 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 $341.84 to $342.69, 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 $337.32 to $338.29, 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 $339.01 to $339.57, 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 $339.57 to $339.97, 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 $340.09 to $341.04, 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 $341.13 to $342.13, 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.