Ernest C. Garcia III - Sep 23, 2025 Form 4 Insider Report for CARVANA CO. (CVNA)

Role
Chief Executive Officer, Director, 10%+ Owner
Signature
/s/ Paul Breaux, by Power of Attorney for Ernest C. Garcia, III
Stock symbol
CVNA
Transactions as of
Sep 23, 2025
Transactions value $
-$511,105
Form type
4
Date filed
9/25/2025, 06:29 PM
Previous filing
Sep 23, 2025
Next filing
Sep 25, 2025
SEC
View on sec.gov

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 2025-09-25 0001700548

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CVNA Class A Common Stock Sale -$111K -282 -0.07% $392.46 407K Sep 23, 2025 Ernest Irrevocable 2004 Trust III F1, F2, F3, F4
transaction CVNA Class A Common Stock Sale -$111K -282 -0.06% $392.46 507K Sep 23, 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F2, F3, F5
transaction CVNA Class A Common Stock Sale -$127K -324 -0.08% $393.11 406K Sep 23, 2025 Ernest Irrevocable 2004 Trust III F1, F2, F4, F6
transaction CVNA Class A Common Stock Sale -$127K -324 -0.06% $393.11 506K Sep 23, 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F2, F5, F6
transaction CVNA Class A Common Stock Sale -$17.3K -44 -0.01% $393.48 406K Sep 23, 2025 Ernest Irrevocable 2004 Trust III F1, F2, F4, F7
transaction CVNA Class A Common Stock Sale -$17.7K -45 -0.01% $393.54 506K Sep 23, 2025 Ernest C. Garcia III Multi-Generational Trust III F1, F2, F5, F8
holding CVNA Class A Common Stock 922K Sep 23, 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 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 This transaction was executed in multiple trades at prices ranging from $391.80 to $392.74, inclusive.
F4 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.
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 $392.77 to $393.38, inclusive.
F7 This transaction was executed in multiple trades at prices ranging from $393.47 to $393.54, inclusive.
F8 This transaction was executed in multiple trades at prices ranging from $393.54 to $393.68, inclusive.