Benjamin E. Huston - Dec 12, 2025 Form 4 Insider Report for CARVANA CO. (CVNA)

Signature
/s/ Paul Breaux, by Power of Attorney for Benjamin E. Huston
Stock symbol
CVNA
Transactions as of
Dec 12, 2025
Transactions value $
-$9,298,600
Form type
4
Date filed
12/12/2025, 06:02 PM
Previous filing
Dec 10, 2025

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 2025-12-12 0001700537

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CVNA Class A Common Stock Options Exercise $201K +20K +19.85% $10.07 121K Dec 12, 2025 Direct F1
transaction CVNA Class A Common Stock Sale -$9.5M -20K -16.56% $475.00 101K Dec 12, 2025 Direct F1

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 -20K -5.43% $0.00 349K Dec 12, 2025 Class A Common Stock 20K $10.07 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, 2024 and monthly thereafter for the following three years, subject to the Reporting Person's continued service with the Issuer.