Paul Breaux - Sep 11, 2023 Form 4 Insider Report for CARVANA CO. (CVNA)

Role: Vice President, General Counsel, & Secretary
Signature: /s/ Paul Breaux
Stock symbol: CVNA
Transactions as of: Sep 11, 2023
Transactions value $: -$980,000
Form type: 4
Date filed: 9/12/2023, 07:14 PM
Previous filing: Sep 5, 2023
Next filing: Oct 3, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CVNA	Class A Common Stock	Sale	-$980K	-20K	-10.8%	$49.00	165K	Sep 11, 2023	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id	Content
F1	The reported sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 9, 2023.

Remarks:

Vice President, General Counsel, & Secretary