Ernest C. Garcia III - 10 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
10 Sep 2025
Net transactions value
-$3,670,577
Form type
4
Filing time
11 Sep 2025, 18:25:49 UTC
Previous filing
11 Sep 2025
Next filing
15 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 $91,592 -252 -0.06% $363.46 456,188 10 Sep 2025 Ernest Irrevocable 2004 Trust III F1, F2, F3
transaction CVNA Class A Common Stock Sale $91,331 -251 -0.05% $363.87 556,189 10 Sep 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F4, F5
transaction CVNA Class A Common Stock Sale $257,473 -705 -0.15% $365.21 455,483 10 Sep 2025 Ernest Irrevocable 2004 Trust III F1, F3, F6
transaction CVNA Class A Common Stock Sale $257,473 -705 -0.13% $365.21 555,484 10 Sep 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F5, F6
transaction CVNA Class A Common Stock Sale $590,433 -1,614 -0.35% $365.82 453,869 10 Sep 2025 Ernest Irrevocable 2004 Trust III F1, F3, F7
transaction CVNA Class A Common Stock Sale $591,445 -1,615 -0.29% $366.22 553,869 10 Sep 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F5, F8
transaction CVNA Class A Common Stock Sale $469,367 -1,279 -0.28% $366.98 452,590 10 Sep 2025 Ernest Irrevocable 2004 Trust III F1, F3, F9
transaction CVNA Class A Common Stock Sale $469,367 -1,279 -0.23% $366.98 552,590 10 Sep 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F5, F9
transaction CVNA Class A Common Stock Sale $128,568 -349 -0.08% $368.39 452,241 10 Sep 2025 Ernest Irrevocable 2004 Trust III F1, F3, F10
transaction CVNA Class A Common Stock Sale $128,568 -349 -0.06% $368.39 552,241 10 Sep 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F5, F10
transaction CVNA Class A Common Stock Sale $153,645 -416 -0.09% $369.34 451,825 10 Sep 2025 Ernest Irrevocable 2004 Trust III F1, F3, F11
transaction CVNA Class A Common Stock Sale $153,645 -416 -0.08% $369.34 551,825 10 Sep 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F5, F11
transaction CVNA Class A Common Stock Sale $18,502 -50 -0.01% $370.05 451,775 10 Sep 2025 Ernest Irrevocable 2004 Trust III F1, F3
transaction CVNA Class A Common Stock Sale $18,502 -50 -0.01% $370.05 551,775 10 Sep 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F5
transaction CVNA Class A Common Stock Sale $65,160 -175 -0.04% $372.34 451,600 10 Sep 2025 Ernest Irrevocable 2004 Trust III F1, F3, F12
transaction CVNA Class A Common Stock Sale $65,160 -175 -0.03% $372.34 551,600 10 Sep 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F5, F12
transaction CVNA Class A Common Stock Sale $18,680 -50 -0.01% $373.60 451,550 10 Sep 2025 Ernest Irrevocable 2004 Trust III F1, F3
transaction CVNA Class A Common Stock Sale $18,680 -50 -0.01% $373.60 551,550 10 Sep 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F5
transaction CVNA Class A Common Stock Sale $18,740 -50 -0.01% $374.81 451,500 10 Sep 2025 Ernest Irrevocable 2004 Trust III F1, F3
transaction CVNA Class A Common Stock Sale $18,740 -50 -0.01% $374.81 551,500 10 Sep 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F5
transaction CVNA Class A Common Stock Sale $22,751 -60 -0.01% $379.18 451,440 10 Sep 2025 Ernest Irrevocable 2004 Trust III F1, F3, F13
transaction CVNA Class A Common Stock Sale $22,751 -60 -0.01% $379.18 551,440 10 Sep 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F5, F13
holding CVNA Class A Common Stock 921,926 10 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 $363.23 to $363.84 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 $363.84 to $363.92 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 $364.57 to $365.55 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 $365.59 to $366.05 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.
F8 This transaction was executed in multiple trades at prices ranging from $366.05 to $366.59 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 $366.61 to $367.58, 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 $368.00 to $368.75, 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 $369.03 to $369.95, 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 $372.28 to $372.40, 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 $379.14 to $379.41, 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.