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
Transactions value $
-$18,406,571
Form type
4
Filing time
12 Dec 2025, 18:02:22 UTC
Previous filing
10 Dec 2025
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 $340K +33.7K +17.65% $10.07 225K 12 Dec 2025 Direct F1
transaction CVNA Class A Common Stock Options Exercise $263K +6.27K +2.79% $42.03 231K 12 Dec 2025 Direct F1
transaction CVNA Class A Common Stock Sale -$18M -37.9K -16.39% $475.20 193K 12 Dec 2025 Direct F1, F2, F3
transaction CVNA Class A Common Stock Sale -$1.01M -2.12K -1.1% $476.00 191K 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 -33.7K -16.79% $0.00 167K 12 Dec 2025 Class A Common Stock 33.7K $10.07 Direct F1, F5
transaction CVNA Stock Options (Right to Buy) Options Exercise $0 -6.27K -10.21% $0.00 55.1K 12 Dec 2025 Class A Common Stock 6.27K $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.