Michael E. Maroone - 03 Dec 2025 Form 4 Insider Report for CARVANA CO. (CVNA)

Reporting relationship: Director
Issuer ticker: CVNA
Reported as of: 03 Dec 2025
Net transaction value: -$11,917,748
SEC form: 4
Accepted by SEC: 04 Dec 2025, 18:46:08 UTC
Prior SEC filing: 11 Jun 2025
Next SEC filing: 04 Jun 2026
Source filing: View source filing
Reporting owner signature: /s/ Paul Breaux, by Power of Attorney for Michael E. Maroone

Key filing fact

Michael E. Maroone filed Form 4 for CARVANA CO. (CVNA) on 04 Dec 2025.

Key facts

This page summarizes Michael E. Maroone's Form 4 filing for CARVANA CO. (CVNA).
4 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 04 Dec 2025, 18:46.

Change

Previous filing in this sequence was filed on 11 Jun 2025.
Current net transaction value: -$11,917,748.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001088011 Primary reporting owner

MAROONE MICHAEL E

Relationship: Director
Address: C/O CARVANA CO., 300 E. RIO SALADO PARKWAY, TEMPE
Signature: /s/ Paul Breaux, by Power of Attorney for Michael E. Maroone
Signature date: 04 Dec 2025

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

CVNA transaction

Class A Common Stock

Options Exercise

Transaction value: $463,920
Shares: +30,928
Change %: +22%
Price: $15.00
Shares after: 174,501
Date: 03 Dec 2025
Ownership: Direct

CVNA transaction

Class A Common Stock

Sale

Transaction value: $11,839,273
Shares: -29,576
Change %: -17%
Price: $400.30
Shares after: 144,925
Date: 03 Dec 2025
Ownership: Direct
Footnotes: F1, F2, F3

CVNA transaction

Class A Common Stock

Sale

Transaction value: $542,395
Shares: -1,352
Change %: -0.93%
Price: $401.18
Shares after: 143,573
Date: 03 Dec 2025
Ownership: Direct
Footnotes: F1, F2, F4

CVNA holding

Class A Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 45,000
Date: 03 Dec 2025
Ownership: Michael Maroone Family Partnership, LP
Footnotes: F5

CVNA holding

Class A Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 264
Date: 03 Dec 2025
Ownership: By Family Trust FBO Michael E. Maroone
Footnotes: F6

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

CVNA transaction Derivative

Stock Options (Right to Buy)

Options Exercise

Transaction value: $0
Shares: -30,928
Change %: -100%
Price: $0.000000
Shares after: 0
Date: 03 Dec 2025
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 30,928
Exercise price: $15.00
Footnotes: F7

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Rule 10b5-1 trading plan

These transactions were reported as open-market trades under a Rule 10b5-1 plan. The plan lets an insider set trading instructions in advance, which can reduce the risk of trading while in possession of material nonpublic information.

Original filing language: transaction made pursuant to a contract, instruction, or written plan intended to satisfy Rule 10b5-1(c).

Explanation of responses 7 footnotes

Footnote F1

The reported sale and option exercise was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 30, 2025.

Footnote 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.

Footnote F3

This transaction was executed in multiple trades at prices ranging from $400.00 to $400.99, inclusive.

Footnote F4

This transaction was executed in multiple trades at prices ranging from $401.02 to $401.32, inclusive.

Footnote F5

Represents shares of Class A common stock held directly by the Michael Maroone Family Partnership, LP, an entity controlled by the Reporting Person.

Footnote F6

Represents shares of Class A common stock held directly by the Family Trust FBO Michael E. Maroone, where the Reporting Person is beneficiary and trustee.

Footnote F7

The options vested in three equal annual installments beginning on April 27, 2018.