Ernest C. Garcia III - 09 Sep 2025 Form 4 Insider Report for CARVANA CO. (CVNA)

Signature
/s/ Paul Breaux, by Power of Attorney for Ernest C. Garcia, III
Issuer symbol
CVNA
Transactions as of
09 Sep 2025
Net transactions value
-$3,717,208
Form type
4
Filing time
11 Sep 2025, 18:24:47 UTC
Previous filing
09 Sep 2025
Next filing
11 Sep 2025

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
GARCIA ERNEST C. III Chief Executive Officer, Director, 10%+ Owner C/O CARVANA CO., 300 E. RIO SALADO PARKWAY, TEMPE /s/ Paul Breaux, by Power of Attorney for Ernest C. Garcia, III 11 Sep 2025 0001700548

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CVNA Class A Common Stock Sale $67,134 -182 -0.04% $368.87 461,258 09 Sep 2025 Ernest Irrevocable 2004 Trust III F1, F2, F3
transaction CVNA Class A Common Stock Sale $66,851 -181 -0.03% $369.34 561,259 09 Sep 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F4, F5
transaction CVNA Class A Common Stock Sale $265,502 -718 -0.16% $369.78 460,540 09 Sep 2025 Ernest Irrevocable 2004 Trust III F1, F3, F6
transaction CVNA Class A Common Stock Sale $266,239 -719 -0.13% $370.29 560,540 09 Sep 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F5, F7
transaction CVNA Class A Common Stock Sale $651,160 -1,756 -0.38% $370.82 458,784 09 Sep 2025 Ernest Irrevocable 2004 Trust III F1, F3, F8
transaction CVNA Class A Common Stock Sale $651,842 -1,755 -0.31% $371.42 558,785 09 Sep 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F5, F9
transaction CVNA Class A Common Stock Sale $406,891 -1,094 -0.24% $371.93 457,690 09 Sep 2025 Ernest Irrevocable 2004 Trust III F1, F3, F10
transaction CVNA Class A Common Stock Sale $407,800 -1,095 -0.2% $372.42 557,690 09 Sep 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F5, F11
transaction CVNA Class A Common Stock Sale $329,341 -883 -0.19% $372.98 456,807 09 Sep 2025 Ernest Irrevocable 2004 Trust III F1, F3, F12
transaction CVNA Class A Common Stock Sale $330,236 -884 -0.16% $373.57 556,806 09 Sep 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F5, F13
transaction CVNA Class A Common Stock Sale $137,273 -367 -0.08% $374.04 456,440 09 Sep 2025 Ernest Irrevocable 2004 Trust III F1, F3, F14
transaction CVNA Class A Common Stock Sale $136,939 -366 -0.07% $374.15 556,440 09 Sep 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F5, F15
holding CVNA Class A Common Stock 921,926 09 Sep 2025 Direct
* 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 sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 13, 2024.
F2 This transaction was executed in multiple trades at prices ranging from $368.67 to $369.12 inclusive. 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 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 Investment Trustee and Co-Administrative Trustee of the Irrevocable Trust.
F4 This transaction was executed in multiple trades at prices ranging from $369.12 to $369.52 inclusive. 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.
F5 These shares of 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 Investment Trustee and Co-Administrative Trustee of the Multi-Generational Trust.
F6 This transaction was executed in multiple trades at prices ranging from $369.68 to $369.98 inclusive. 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.
F7 This transaction was executed in multiple trades at prices ranging from $369.98 to $370.62 inclusive. 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.
F8 This transaction was executed in multiple trades at prices ranging from $370.70 to $371.05 inclusive. 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.
F9 This transaction was executed in multiple trades at prices ranging from $371.05 to $371.69 inclusive. 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.
F10 This transaction was executed in multiple trades at prices ranging from $371.71 to $372.16, inclusive. 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.
F11 This transaction was executed in multiple trades at prices ranging from $372.16 to $372.66, inclusive. 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.
F12 This transaction was executed in multiple trades at prices ranging from $372.74 to $373.29, inclusive. 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.
F13 This transaction was executed in multiple trades at prices ranging from $373.29 to $373.70, inclusive. 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.
F14 This transaction was executed in multiple trades at prices ranging from $373.98 to $374.11, inclusive. 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.
F15 This transaction was executed in multiple trades at prices ranging from $374.11 to $374.20, inclusive. 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.