Ernest C. Garcia III - 11 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
11 Sep 2025
Net transactions value
-$3,566,633
Form type
4
Filing time
15 Sep 2025, 17:46:25 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 15 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 $106,017 -300 -0.07% $353.39 451,140 11 Sep 2025 Ernest Irrevocable 2004 Trust III F1, F2, F3
transaction CVNA Class A Common Stock Sale $106,017 -300 -0.05% $353.39 551,140 11 Sep 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F2, F4
transaction CVNA Class A Common Stock Sale $240,832 -678 -0.15% $355.21 450,462 11 Sep 2025 Ernest Irrevocable 2004 Trust III F1, F3, F5
transaction CVNA Class A Common Stock Sale $240,832 -678 -0.12% $355.21 550,462 11 Sep 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F4, F5
transaction CVNA Class A Common Stock Sale $538,462 -1,513 -0.34% $355.89 448,949 11 Sep 2025 Ernest Irrevocable 2004 Trust III F1, F3, F6
transaction CVNA Class A Common Stock Sale $538,847 -1,512 -0.27% $356.38 548,950 11 Sep 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F4, F7
transaction CVNA Class A Common Stock Sale $413,821 -1,159 -0.26% $357.05 447,790 11 Sep 2025 Ernest Irrevocable 2004 Trust III F1, F3, F8
transaction CVNA Class A Common Stock Sale $414,654 -1,160 -0.21% $357.46 547,790 11 Sep 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F4, F9
transaction CVNA Class A Common Stock Sale $125,356 -350 -0.08% $358.16 447,440 11 Sep 2025 Ernest Irrevocable 2004 Trust III F1, F3, F10
transaction CVNA Class A Common Stock Sale $125,356 -350 -0.06% $358.16 547,440 11 Sep 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F4, F10
transaction CVNA Class A Common Stock Sale $215,748 -600 -0.13% $359.58 446,840 11 Sep 2025 Ernest Irrevocable 2004 Trust III F1, F3, F11
transaction CVNA Class A Common Stock Sale $215,748 -600 -0.11% $359.58 546,840 11 Sep 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F4, F11
transaction CVNA Class A Common Stock Sale $36,071 -100 -0.02% $360.71 446,740 11 Sep 2025 Ernest Irrevocable 2004 Trust III F1, F3, F12
transaction CVNA Class A Common Stock Sale $36,071 -100 -0.02% $360.71 546,740 11 Sep 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F4, F12
transaction CVNA Class A Common Stock Sale $54,339 -150 -0.03% $362.26 446,590 11 Sep 2025 Ernest Irrevocable 2004 Trust III F1, F3, F13
transaction CVNA Class A Common Stock Sale $48,939 -150 -0.03% $326.26 546,590 11 Sep 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F4, F13
transaction CVNA Class A Common Stock Sale $54,762 -150 -0.03% $365.08 446,440 11 Sep 2025 Ernest Irrevocable 2004 Trust III F1, F3, F14
transaction CVNA Class A Common Stock Sale $54,762 -150 -0.03% $365.08 546,440 11 Sep 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F4, F14
holding CVNA Class A Common Stock 921,926 11 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 $353.01 to $353.73 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 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.
F5 This transaction was executed in multiple trades at prices ranging from $354.65 to $355.65 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.
F6 This transaction was executed in multiple trades at prices ranging from $355.69 to $356.09 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 $356.09 to $356.68 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 $356.75 to $357.24, 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 $357.24 to $357.75, 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.
F10 This transaction was executed in multiple trades at prices ranging from $357.82 to $358.40, 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.
F11 This transaction was executed in multiple trades at prices ranging from $359.06 to $359.99, 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 $360.48 to $360.93, 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 $361.71 to $362.54, 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 $364.71 to $365.56, 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.