=== SEC Form 4 — Statement of Changes in Beneficial Ownership ===
Document Type: 4
Period of Report: 2026-08-01
10b5-1 Pre-arranged Plan: Yes
--- Issuer ---
Name: CARVANA CO. (CVNA)
CIK: 0001690820
--- Reporting Owner ---
Name: JENKINS MARK W.
CIK: 0001700540
Role: Officer (Chief Financial Officer)
--- Non-Derivative Transactions ---
[Transaction #1]
Security: Class A Common Stock
Date: 2026-08-01 | Code: F (Payment of exercise/tax)
Shares: -7,018 | Price: $62.36
Total Value: $437,642.48
Shares Owned After: 1,022,562 | Ownership: D (Direct)
Footnotes:
[F1] Represents total number of shares of Class A Common Stock of the Issuer withheld for taxes upon vesting of restricted stock units pursuant to various awards.
[Transaction #2]
Security: Class A Common Stock
Date: 2026-08-03 | Code: A (Grant or award)
Shares: +133,972 | Price: $0.00
Shares Owned After: 1,156,534 | Ownership: D (Direct)
Footnotes:
[F2] Represents shares of Class A Common Stock of Carvana Co. (the "Issuer") underlying restricted stock units acquired by the Reporting Person. The restricted stock units vest 25% on April 1, 2027 and monthly thereafter for the following three years, subject to the Reporting Person's continued service with the Issuer.
[Transaction #3]
Security: Class A Common Stock
Date: 2026-08-03 | Code: M (Exercise of derivative)
Shares: +50,000 | Price: $2.01
Total Value: $100,500.00
Shares Owned After: 1,206,534 | Ownership: D (Direct)
Footnotes:
[F3] The reported option exercises and sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 5, 2024.
[Transaction #4]
Security: Class A Common Stock
Date: 2026-08-03 | Code: M (Exercise of derivative)
Shares: +10,000 | Price: $8.41
Total Value: $84,100.00
Shares Owned After: 1,216,534 | Ownership: D (Direct)
Footnotes:
[F3] The reported option exercises and sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 5, 2024.
[Transaction #5]
Security: Class A Common Stock
Date: 2026-08-03 | Code: M (Exercise of derivative)
Shares: +3,750 | Price: $10.39
Total Value: $38,962.50
Shares Owned After: 1,220,284 | Ownership: D (Direct)
Footnotes:
[F3] The reported option exercises and sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 5, 2024.
[Transaction #6]
Security: Class A Common Stock
Date: 2026-08-03 | Code: S (Open market sale)
Shares: -7,940 | Price: $63.17
Total Value: $501,569.80
Shares Owned After: 1,212,344 | Ownership: D (Direct)
Footnotes:
[F3] The reported option exercises and sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 5, 2024.
[F4] 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] This transaction was executed in multiple trades at prices ranging from $62.41 to $63.40 inclusive.
[Transaction #7]
Security: Class A Common Stock
Date: 2026-08-03 | Code: S (Open market sale)
Shares: -24,287 | Price: $64.08
Total Value: $1,556,310.96
Shares Owned After: 1,188,057 | Ownership: D (Direct)
Footnotes:
[F3] The reported option exercises and sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 5, 2024.
[F4] 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 $63.41 to $64.40 inclusive.
[Transaction #8]
Security: Class A Common Stock
Date: 2026-08-03 | Code: S (Open market sale)
Shares: -22,886 | Price: $64.93
Total Value: $1,485,987.98
Shares Owned After: 1,165,171 | Ownership: D (Direct)
Footnotes:
[F3] The reported option exercises and sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 5, 2024.
[F4] 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 $64.41 to $65.40 inclusive.
[Transaction #9]
Security: Class A Common Stock
Date: 2026-08-03 | Code: S (Open market sale)
Shares: -8,637 | Price: $65.75
Total Value: $567,882.75
Shares Owned After: 1,156,534 | Ownership: D (Direct)
Footnotes:
[F3] The reported option exercises and sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 5, 2024.
[F4] 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 $65.41 to $66.04 inclusive.
--- Derivative Transactions ---
[Transaction #1]
Security: Stock Options (Right to Buy)
Date: 2026-08-03 | Code: M (Exercise of derivative)
Shares: -0 | Price: $0.00
Exercisable: N/A | Expires: 2033-02-22
Shares Owned After: 542,565 | Ownership: D (Direct)
Footnotes:
[F3] The reported option exercises and sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 5, 2024.
[F9] The non-qualified stock options representing the right to purchase for the exercise price Class A Common Stock of the Issuer vested 25% on April 1, 2024 and monthly thereafter for the following three years, subject to the Reporting Person's continued service with the Issuer.
[Transaction #2]
Security: Stock Options (Right to Buy)
Date: 2026-08-03 | Code: M (Exercise of derivative)
Shares: -0 | Price: $0.00
Exercisable: N/A | Expires: 2034-01-24
Shares Owned After: 213,515 | Ownership: D (Direct)
Footnotes:
[F3] The reported option exercises and sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 5, 2024.
[F10] The non-qualified stock options representing the right to purchase for the exercise price Class A Common Stock of the Issuer vested 25% on April 1, 2025 and monthly thereafter for the following three years, subject to the Reporting Person's continued service with the Issuer.
[Transaction #3]
Security: Stock Options (Right to Buy)
Date: 2026-08-03 | Code: M (Exercise of derivative)
Shares: -0 | Price: $0.00
Exercisable: N/A | Expires: 2034-02-13
Shares Owned After: 81,730 | Ownership: D (Direct)
Footnotes:
[F3] The reported option exercises and sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 5, 2024.
[F10] The non-qualified stock options representing the right to purchase for the exercise price Class A Common Stock of the Issuer vested 25% on April 1, 2025 and monthly thereafter for the following three years, subject to the Reporting Person's continued service with the Issuer.
--- Footnotes (Complete Index) ---
F1: Represents total number of shares of Class A Common Stock of the Issuer withheld for taxes upon vesting of restricted stock units pursuant to various awards.
F10: The non-qualified stock options representing the right to purchase for the exercise price Class A Common Stock of the Issuer vested 25% on April 1, 2025 and monthly thereafter for the following three years, subject to the Reporting Person's continued service with the Issuer.
F2: Represents shares of Class A Common Stock of Carvana Co. (the "Issuer") underlying restricted stock units acquired by the Reporting Person. The restricted stock units vest 25% on April 1, 2027 and monthly thereafter for the following three years, subject to the Reporting Person's continued service with the Issuer.
F3: The reported option exercises and sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 5, 2024.
F4: 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: This transaction was executed in multiple trades at prices ranging from $62.41 to $63.40 inclusive.
F6: This transaction was executed in multiple trades at prices ranging from $63.41 to $64.40 inclusive.
F7: This transaction was executed in multiple trades at prices ranging from $64.41 to $65.40 inclusive.
F8: This transaction was executed in multiple trades at prices ranging from $65.41 to $66.04 inclusive.
F9: The non-qualified stock options representing the right to purchase for the exercise price Class A Common Stock of the Issuer vested 25% on April 1, 2024 and monthly thereafter for the following three years, subject to the Reporting Person's continued service with the Issuer.
--- Signature ---
/s/ /s/ Paul Breaux, by Power of Attorney for Mark W. Jenkins (2026-08-04)
