Ernest C. Garcia III - Jan 24, 2024 Form 4 Insider Report for CARVANA CO. (CVNA)

Role: Chief Executive Officer, Director, 10%+ Owner
Signature: /s/ Paul Breaux, by Power of Attorney for Ernest C. Garcia, III
Stock symbol: CVNA
Transactions as of: Jan 24, 2024
Transactions value $: $0
Form type: 4
Date filed: 1/26/2024, 06:56 PM
Previous filing: Jan 3, 2024
Next filing: Feb 1, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CVNA	Class A Common Stock	Award	$0	+32.6K	+3.88%	$0.00	872K	Jan 24, 2024	Direct	F1
holding	CVNA	Class A Common Stock						950K	Jan 24, 2024	Ernest C. Garcia III Multi-Generational Trust III	F2
holding	CVNA	Class A Common Stock						850K	Jan 24, 2024	Ernest Irrevocable 2004 Trust III	F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	CVNA	Stock Options (Right to Buy)	Award	$0	+97.7K		$0.00	97.7K	Jan 24, 2024	Class A Common Stock	97.7K	$42.03	Direct	F4

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

Explanation of Responses:

Id	Content
F1	Represents shares of Class A Common Stock of Carvana Co. (the "Issuer") underlying restricted stock units acquired by the Reporting Person. The restricted stock units vest 25% on April 1, 2025 and monthly thereafter for the following three years, subject to the Reporting Person's continued service with the Issuer.
F2	These shares of Class A 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 Co-Administrative Trustee and Co-Investment Trustee of the Multi-Generational Trust and therefore shares voting and dispositive power over the shares held directly by the Multi-Generational Trust.
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 Co-Administrative Trustee and Co-Investment Trustee of the Irrevocable Trust and therefore shares voting and dispositive power over the shares held directly by the Irrevocable Trust.
F4	The non-qualified stock options representing the right to purchase for the exercise price Class A Common Stock of the Issuer vest 25% on April 1, 2025 and monthly thereafter for the following three years, subject to the Reporting Person's continued service with the Issuer.