Ernest C. Garcia III - Aug 20, 2025 Form 4 Insider Report for CARVANA CO. (CVNA)

Signature
/s/ Paul Breaux, by Power of Attorney for Ernest C. Garcia, III
Stock symbol
CVNA
Transactions as of
Aug 20, 2025
Transactions value $
-$2,037,504
Form type
4
Date filed
8/22/2025, 05:46 PM
Previous filing
Aug 20, 2025
Next filing
Aug 22, 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 2025-08-22 0001700548

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CVNA Class A Common Stock Sale -$17.6K -55 -0.01% $319.23 526K Aug 20, 2025 Ernest Irrevocable 2004 Trust III F1, F2, F3
transaction CVNA Class A Common Stock Sale -$17.2K -54 -0.01% $319.25 626K Aug 20, 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F4, F5
transaction CVNA Class A Common Stock Sale -$27.5K -86 -0.02% $319.72 526K Aug 20, 2025 Ernest Irrevocable 2004 Trust III F1, F3, F6
transaction CVNA Class A Common Stock Sale -$27.8K -87 -0.01% $319.81 626K Aug 20, 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F5, F7
transaction CVNA Class A Common Stock Sale -$22.1K -69 -0.01% $320.84 526K Aug 20, 2025 Ernest Irrevocable 2004 Trust III F1, F3, F8
transaction CVNA Class A Common Stock Sale -$22.1K -69 -0.01% $320.84 626K Aug 20, 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F5, F8
transaction CVNA Class A Common Stock Sale -$148K -459 -0.09% $322.65 526K Aug 20, 2025 Ernest Irrevocable 2004 Trust III F1, F3, F9
transaction CVNA Class A Common Stock Sale -$148K -458 -0.07% $323.02 626K Aug 20, 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F5, F10
transaction CVNA Class A Common Stock Sale -$177K -547 -0.1% $323.74 525K Aug 20, 2025 Ernest Irrevocable 2004 Trust III F1, F3, F11
transaction CVNA Class A Common Stock Sale -$178K -548 -0.09% $324.13 625K Aug 20, 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F5, F12
transaction CVNA Class A Common Stock Sale -$28.9K -89 -0.02% $324.88 525K Aug 20, 2025 Ernest Irrevocable 2004 Trust III F1, F3, F13
transaction CVNA Class A Common Stock Sale -$28.9K -89 -0.01% $324.88 625K Aug 20, 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F5, F13
transaction CVNA Class A Common Stock Sale -$16.3K -50 -0.01% $326.20 525K Aug 20, 2025 Ernest Irrevocable 2004 Trust III F1, F3
transaction CVNA Class A Common Stock Sale -$16.3K -50 -0.01% $326.20 625K Aug 20, 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F5
transaction CVNA Class A Common Stock Sale -$34.1K -104 -0.02% $327.83 525K Aug 20, 2025 Ernest Irrevocable 2004 Trust III F1, F3, F14
transaction CVNA Class A Common Stock Sale -$33.8K -103 -0.02% $328.19 625K Aug 20, 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F5, F15
transaction CVNA Class A Common Stock Sale -$50K -152 -0.03% $328.66 525K Aug 20, 2025 Ernest Irrevocable 2004 Trust III F1, F3, F16
transaction CVNA Class A Common Stock Sale -$50K -152 -0.02% $328.66 625K Aug 20, 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F5, F16
transaction CVNA Class A Common Stock Sale -$99.7K -302 -0.06% $330.13 525K Aug 20, 2025 Ernest Irrevocable 2004 Trust III F1, F3, F17
transaction CVNA Class A Common Stock Sale -$100K -303 -0.05% $330.36 625K Aug 20, 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F5, F18
transaction CVNA Class A Common Stock Sale -$176K -532 -0.1% $331.29 524K Aug 20, 2025 Ernest Irrevocable 2004 Trust III F1, F3, F19
transaction CVNA Class A Common Stock Sale -$176K -532 -0.09% $331.29 624K Aug 20, 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F5, F19
transaction CVNA Class A Common Stock Sale -$221K -665 -0.13% $332.19 523K Aug 20, 2025 Ernest Irrevocable 2004 Trust III F1, F3, F20
transaction CVNA Class A Common Stock Sale -$221K -665 -0.11% $332.19 623K Aug 20, 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F5, F20
holding CVNA Class A Common Stock 923K Aug 20, 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 $318.54 to $319.24 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.
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 $319.24 to $319.45 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 $319.64 to $319.72 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 $319.72 to $320.50 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.
F8 This transaction was executed in multiple trades at prices ranging from $320.71 to $320.89, 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 $322.35 to $322.95 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.
F10 This transaction was executed in multiple trades at prices ranging from $322.95 to $323.08 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 $323.43 to $323.98 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.
F12 This transaction was executed in multiple trades at prices ranging from $323.98 to $324.41 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.
F13 This transaction was executed in multiple trades at prices ranging from $324.55 to $325.16, 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.
F14 This transaction was executed in multiple trades at prices ranging from $327.25 to $327.87 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 $327.87 to $328.20 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.
F16 This transaction was executed in multiple trades at prices ranging from $328.46 to $329.46 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 $329.55 to $330.22 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.
F18 This transaction was executed in multiple trades at prices ranging from $330.22 to $330.55 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.
F19 This transaction was executed in multiple trades at prices ranging from $330.63 to $331.60 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.
F20 This transaction was executed in multiple trades at prices ranging from $331.65 to $332.62 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.