# EDGAR Filing Document

**Accession Number:** 0001700538
**File Stem:** 0001700538-25-000013
**Filing Date:** 2025-12
**Character Count:** 8540
**Document Hash:** 36bb69183c4f7dc83e5bd4868dd1963d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001700538-25-000013.hdr.sgml**: 20251210

**ACCESSION NUMBER**: 0001700538-25-000013

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251208

**FILED AS OF DATE**: 20251210

**DATE AS OF CHANGE**: 20251210

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** GILL DANIEL J.
- **CENTRAL INDEX KEY:** 0001700538

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38073
- **FILM NUMBER:** 251562940

**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>GILL DANIEL J.<br><sub>(Last) (First) (Middle)</sub><br>C/O CARVANA CO.<br>300 E. RIO SALADO PARKWAY<br><sub>(Street)</sub><br>TEMPE, AZ 85281<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-12-08 | **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 Product 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 | 2025-12-08 |  | M |  | 34826<sup>(1)</sup> | A | $10.07 | 225932 | D |  |
| Class A Common Stock | 2025-12-08 |  | M |  | 25283<sup>(1)</sup> | A | $42.03 | 251215 | D |  |
| Class A Common Stock | 2025-12-08 |  | M |  | 9597<sup>(1)</sup> | A | $51.97 | 260812 | D |  |
| Class A Common Stock | 2025-12-08 |  | M |  | 2715<sup>(1)</sup> | A | $126.40 | 263527 | D |  |
| Class A Common Stock | 2025-12-08 |  | M |  | 7579<sup>(1)</sup> | A | $296.05 | 271106 | D |  |
| Class A Common Stock | 2025-12-08 |  | S |  | 40000<sup>(1)</sup> | D | $429 | 231106 | D |  |
| Class A Common Stock | 2025-12-08 |  | S |  | 40000<sup>(1)</sup> | D | $450 | 191106 | 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 | 2025-12-08 |  | M<sup>(1)</sup> |  |  | 34826 | 2024-04-01<sup>(2)</sup> | 2033-02-22 | Class A Common Stock | 34826 | $0 | 200902 | D |  |
| Stock Options (Right to Buy) | $42.03 | 2025-12-08 |  | M<sup>(1)</sup> |  |  | 25283 | 2025-04-01<sup>(3)</sup> | 2034-01-24 | Class A Common Stock | 25283 | $0 | 61401 | D |  |
| Stock Options (Right to Buy) | $51.97 | 2025-12-08 |  | M<sup>(1)</sup> |  |  | 9597 | 2025-04-01<sup>(4)</sup> | 2034-02-13 | Class A Common Stock | 9597 | $0 | 56211 | D |  |
| Stock Options (Right to Buy) | $126.40 | 2025-12-08 |  | M<sup>(1)</sup> |  |  | 2715 | 2023-04-01<sup>(5)</sup> | 2032-02-21 | Class A Common Stock | 2715 | $0 | 9051 | D |  |
| Stock Options (Right to Buy) | $296.05 | 2025-12-08 |  | M<sup>(1)</sup> |  |  | 7579 | 2022-04-01<sup>(6)</sup> | 2031-02-17 | Class A Common Stock | 7579 | $0 | 0 | D |  |

---

### Footnotes:

(1) The reported option exercises and sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 13, 2024 (the "10b5-1 Plan").

(2) 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 followingthree years, subject to the Reporting Person's continued service with the Issuer.

(3) The non-qualified stock options representing the right to purchase for the exercise price Class A Common Stock of the Issuer vest 25% on April 1, 2025 and monthly thereafter for the following three years, subject to the Reporting Person's continued service with the Issuer.

(4) The non-qualified stock options representing the right to purchase for the exercise price Class A Common Stock of the Issuer vests 25% on April 1, 2025 and monthly thereafter for the following three years, subject to the Reporting Person's continued service with the Issuer.

(5) 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, 2023 and monthly thereafter for the following three years, subject to the Reporting Person's continued service with the Issuer.

(6) 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, 2022 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 Daniel J. Gill  
**Date:** 2025-12-10

### 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.**