Ernest C. Garcia III - 12 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
12 Sep 2025
Net transactions value
-$2,154,030
Form type
4
Filing time
15 Sep 2025, 17:48:23 UTC
Previous filing
15 Sep 2025
Next filing
17 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 $61,856 -177 -0.04% $349.47 446,263 12 Sep 2025 Ernest Irrevocable 2004 Trust III F1, F2, F3
transaction CVNA Class A Common Stock Sale $61,575 -176 -0.03% $349.86 546,264 12 Sep 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F4, F5
transaction CVNA Class A Common Stock Sale $78,950 -225 -0.05% $350.89 446,038 12 Sep 2025 Ernest Irrevocable 2004 Trust III F1, F3, F6
transaction CVNA Class A Common Stock Sale $78,950 -225 -0.04% $350.89 546,039 12 Sep 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F5, F6
transaction CVNA Class A Common Stock Sale $91,450 -260 -0.06% $351.73 445,778 12 Sep 2025 Ernest Irrevocable 2004 Trust III F1, F3, F7
transaction CVNA Class A Common Stock Sale $91,885 -261 -0.05% $352.05 545,778 12 Sep 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F5, F8
transaction CVNA Class A Common Stock Sale $55,850 -158 -0.04% $353.48 445,620 12 Sep 2025 Ernest Irrevocable 2004 Trust III F1, F3, F9
transaction CVNA Class A Common Stock Sale $55,850 -158 -0.03% $353.48 545,620 12 Sep 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F5, F9
transaction CVNA Class A Common Stock Sale $43,602 -123 -0.03% $354.49 445,497 12 Sep 2025 Ernest Irrevocable 2004 Trust III F1, F3, F10
transaction CVNA Class A Common Stock Sale $43,602 -123 -0.02% $354.49 545,497 12 Sep 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F5, F10
transaction CVNA Class A Common Stock Sale $255,410 -719 -0.16% $355.23 444,778 12 Sep 2025 Ernest Irrevocable 2004 Trust III F1, F3, F11
transaction CVNA Class A Common Stock Sale $255,450 -718 -0.13% $355.78 544,779 12 Sep 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F5, F12
transaction CVNA Class A Common Stock Sale $211,060 -592 -0.13% $356.52 444,186 12 Sep 2025 Ernest Irrevocable 2004 Trust III F1, F3, F13
transaction CVNA Class A Common Stock Sale $211,060 -592 -0.11% $356.52 544,187 12 Sep 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F5, F13
transaction CVNA Class A Common Stock Sale $86,457 -242 -0.05% $357.26 443,944 12 Sep 2025 Ernest Irrevocable 2004 Trust III F1, F3, F14
transaction CVNA Class A Common Stock Sale $86,902 -243 -0.04% $357.62 543,944 12 Sep 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F5, F15
transaction CVNA Class A Common Stock Sale $47,049 -131 -0.03% $359.15 443,813 12 Sep 2025 Ernest Irrevocable 2004 Trust III F1, F3, F16
transaction CVNA Class A Common Stock Sale $47,049 -131 -0.02% $359.15 543,813 12 Sep 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F5, F16
transaction CVNA Class A Common Stock Sale $145,011 -403 -0.09% $359.83 443,410 12 Sep 2025 Ernest Irrevocable 2004 Trust III F1, F3, F17
transaction CVNA Class A Common Stock Sale $145,011 -403 -0.07% $359.83 543,410 12 Sep 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F5, F17
holding CVNA Class A Common Stock 921,926 12 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 $349.27 to $349.54 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.
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 $349.54 to $349.96 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 $350.40 to $351.40 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.
F7 This transaction was executed in multiple trades at prices ranging from $351.41 to $352.01 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 $352.01 to $352.17 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 $352.80 to $353.77, 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 $353.92 to $354.86, 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 $355.00 to $355.50, 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 $355.50 to $356.00, 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 $356.01 to $357.00, 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 $357.06 to $357.46, 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 $357.46 to $358.00, 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.
F16 This transaction was executed in multiple trades at prices ranging from $358.49 to $359.46, 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.
F17 This transaction was executed in multiple trades at prices ranging from $359.51 to $360.47, 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.