# EDGAR Filing Document

**Accession Number:** 0001690820
**File Stem:** 0001700540-25-000003
**Filing Date:** 2025-7
**Character Count:** 11550
**Document Hash:** e419e2ea13fb72555b61cf830ca73d74
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001700540-25-000003.hdr.sgml**: 20250703

**ACCESSION NUMBER**: 0001700540-25-000003

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250701

**FILED AS OF DATE**: 20250703

**DATE AS OF CHANGE**: 20250703

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** JENKINS MARK W.
- **CENTRAL INDEX KEY:** 0001700540

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38073
- **FILM NUMBER:** 251105761

**MAIL ADDRESS:**
- **STREET 1:** 300 E RIO SALADO PKWY
- **CITY:** TEMPE
- **STATE:** AZ
- **ZIP:** 85281
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CARVANA CO.
- **CENTRAL INDEX KEY:** 0001690820
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-AUTO DEALERS & GASOLINE STATIONS [5500]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 814549921
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 300 E. RIO SALADO PARKWAY
- **CITY:** TEMPE
- **STATE:** AZ
- **ZIP:** 85281
- **BUSINESS PHONE:** (480) 719-8809

**MAIL ADDRESS:**
- **STREET 1:** 300 E. RIO SALADO PARKWAY
- **CITY:** TEMPE
- **STATE:** AZ
- **ZIP:** 85281

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[x] Check this box to indicate that a 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). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>JENKINS MARK W.<br><sub>(Last) (First) (Middle)</sub><br>C/O CARVANA CO.<br>300 E. RIO SALADO PKWY<br><sub>(Street)</sub><br>TEMPE, AZ 85281<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-07-01 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [ ] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_Chief Financial Officer_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>CARVANA CO. [ CVNA ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Class A Common Stock | 2025-07-01 |  | F |  | 1219<sup>(1)</sup> | D | $338.26 | 211020 | D |  |
| Class A Common Stock | 2025-07-01 |  | M |  | 10000<sup>(2)</sup> | A | $10.07 | 221020 | D |  |
| Class A Common Stock | 2025-07-01 |  | M |  | 2000<sup>(2)</sup> | A | $42.03 | 223020 | D |  |
| Class A Common Stock | 2025-07-01 |  | M |  | 750<sup>(2)</sup> | A | $51.97 | 223770 | D |  |
| Class A Common Stock | 2025-07-01 |  | S<sup>(2)</sup> |  | 300 | D | 333.84<sup>(3)</sup> | 223470 | D |  |
| Class A Common Stock | 2025-07-01 |  | S<sup>(2)</sup> |  | 402 | D | 334.63<sup>(4)</sup> | 223068 | D |  |
| Class A Common Stock | 2025-07-01 |  | S<sup>(2)</sup> |  | 1700 | D | 335.90<sup>(5)</sup> | 221368 | D |  |
| Class A Common Stock | 2025-07-01 |  | S<sup>(2)</sup> |  | 2443 | D | 337.05<sup>(6)</sup> | 218925 | D |  |
| Class A Common Stock | 2025-07-01 |  | S<sup>(2)</sup> |  | 2550 | D | 338.21<sup>(7)</sup> | 216375 | D |  |
| Class A Common Stock | 2025-07-01 |  | S<sup>(2)</sup> |  | 2255 | D | 339.17<sup>(8)</sup> | 214120 | D |  |
| Class A Common Stock | 2025-07-01 |  | S<sup>(2)</sup> |  | 800 | D | 340.37<sup>(9)</sup> | 213320 | D |  |
| Class A Common Stock | 2025-07-01 |  | S<sup>(2)</sup> |  | 1900 | D | 341.31<sup>(10)</sup> | 211420 | D |  |
| Class A Common Stock | 2025-07-01 |  | S<sup>(2)</sup> |  | 400 | D | 342.16<sup>(11)</sup> | 211020 | D |  |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Stock Options (Right to Buy) | $10.07 | 2025-07-01 |  | M<sup>(2)</sup> |  |  | 10000 | 2024-04-01<sup>(12)</sup> | 2033-02-22 | Class A Common Stock | 10000 | $0 | 228513 | D |  |
| Stock Options (Right to Buy) | $42.03 | 2025-07-01 |  | M<sup>(2)</sup> |  |  | 2000 | 2025-04-01<sup>(13)</sup> | 2034-01-24 | Class A Common Stock | 2000 | $0 | 66703 | D |  |
| Stock Options (Right to Buy) | $51.97 | 2025-07-01 |  | M<sup>(2)</sup> |  |  | 750 | 2025-04-01<sup>(13)</sup> | 2034-02-13 | Class A Common Stock | 750 | $0 | 25346 | D |  |

---

### Footnotes:

(1) 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.

(2) 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.

(3) This transaction was executed in multiple trades at prices ranging from $333.22 to $334.15 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.

(4) This transaction was executed in multiple trades at prices ranging from $334.36 to $335.29 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.

(5) This transaction was executed in multiple trades at prices ranging from $335.46 to $336.39 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.

(6) This transaction was executed in multiple trades at prices ranging from $336.62 to $337.59 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.

(7) This transaction was executed in multiple trades at prices ranging from $337.70 to $338.58 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.

(8) This transaction was executed in multiple trades at prices ranging from $338.70 to $339.67 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.

(9) This transaction was executed in multiple trades at prices ranging from $339.79 to $340.72 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.

(10) This transaction was executed in multiple trades at prices ranging from $340.82 to $341.80 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.

(11) This transaction was executed in multiple trades at prices ranging from $341.82 to $342.55 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.

(12) 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.

(13) 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.

**Signature:** /s/ Paul Breaux, by Power of Attorney for Mark W. Jenkins  
**Date:** 2025-07-03

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**