Daniel J. Gill - 12 Dec 2025 Form 4 Insider Report for CARVANA CO. (CVNA)

Role
Chief Product Officer
Signature
/s/ Paul Breaux, by Power of Attorney for Daniel J. Gill
Issuer symbol
CVNA
Transactions as of
12 Dec 2025
Net transactions value
-$18,406,571
Form type
4
Filing time
12 Dec 2025, 18:02:22 UTC
Previous filing
10 Dec 2025
Next filing
05 Jan 2026
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
GILL DANIEL J. Chief Product Officer C/O CARVANA CO., 300 E. RIO SALADO PARKWAY, TEMPE /s/ Paul Breaux, by Power of Attorney for Daniel J. Gill 12 Dec 2025 0001700538

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CVNA Class A Common Stock Options Exercise $339,681 +33,732 +18% $10.07 224,838 12 Dec 2025 Direct F1
transaction CVNA Class A Common Stock Options Exercise $263,444 +6,268 +2.8% $42.03 231,106 12 Dec 2025 Direct F1
transaction CVNA Class A Common Stock Sale $18,000,576 -37,880 -16% $475.20 193,226 12 Dec 2025 Direct F1, F2, F3
transaction CVNA Class A Common Stock Sale $1,009,120 -2,120 -1.1% $476.00 191,106 12 Dec 2025 Direct F1, F2, F4

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 -33,732 -17% $0.000000 167,170 12 Dec 2025 Class A Common Stock 33,732 $10.07 Direct F1, F5
transaction CVNA Stock Options (Right to Buy) Options Exercise $0 -6,268 -10% $0.000000 55,133 12 Dec 2025 Class A Common Stock 6,268 $42.03 Direct F1, F6
* 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 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.
F3 This transaction was executed in multiple trades at prices ranging from $475.00 to $475.91 inclusive.
F4 This transaction was executed in multiple trades at prices ranging from $476.00 to $476.01 inclusive.
F5 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.
F6 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.