Benjamin E. Huston - May 14, 2025 Form 4 Insider Report for CARVANA CO. (CVNA)

Role: Chief Operating Officer
Signature: /s/ Paul Breaux, by Power of Attorney for Benjamin E. Huston
Stock symbol: CVNA
Transactions as of: May 14, 2025
Transactions value $: -$7,009,286
Form type: 4
Date filed: 5/16/2025, 05:48 PM
Previous filing: May 12, 2025
Next filing: Jun 3, 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
HUSTON BENJAMIN E.	Chief Operating Officer	C/O CARVANA CO., 300 E. RIO SALADO PARKWAY, TEMPE	/s/ Paul Breaux, by Power of Attorney for Benjamin E. Huston	2025-05-16	0001700537

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CVNA	Class A Common Stock	Options Exercise	$1.02M	+26.8K	+17.92%	$38.00	176K	May 14, 2025	Direct	F1
transaction	CVNA	Class A Common Stock	Sale	-$8.03M	-26.8K	-15.2%	$300.00	149K	May 14, 2025	Direct	F1

Showing 1 to 2 of 2 entries

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)	Options Exercise	$0	-26.8K	-50%	$0.00	26.8K	May 14, 2025	Class A Common Stock	26.8K	$38.00	Direct	F1, F2

* 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 option exercises and sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 13, 2024 (the "10b5-1 Plan").
F2	The non-qualified stock options representing the right to purchase for the exercise price Class A Common Stock of the Issuer vested 25% on April 1, 2020 and monthly thereafter for the following three years, subject to the Reporting Person's continued service with the Issuer.