# EDGAR Filing Document

**Accession Number:** 0001690820
**File Stem:** 0001690820-23-000068
**Filing Date:** 2023-2
**Character Count:** 9587
**Document Hash:** a886f95a518f1f18d6407af14a4eee66
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001690820-23-000068.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001690820-23-000068

**CONFORMED SUBMISSION TYPE**: 4/A

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230222

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** GARCIA ERNEST C. III
- **CENTRAL INDEX KEY:** 0001700548

**FILING VALUES:**
- **FORM TYPE:** 4/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38073
- **FILM NUMBER:** 23688204

**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]
- **IRS NUMBER:** 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/A

### 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).

[ ] 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>GARCIA ERNEST C. III<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>2023-02-22 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [X] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_Chief Executive 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 | 2023-02-22 |  | A |  | 99549<sup>(1)</sup> | A | 0<sup>(1)</sup> | 872178 | D |  |
| Class A Common Stock |  |  |  |  |  |  |  | 950000 | I | Ernest C. Garcia III Multi-Generational Trust III<sup>(2)(3)</sup> |
| Class A Common Stock |  |  |  |  |  |  |  | 850000 | I | Ernest Irrevocable 2004 Trust III<sup>(4)(5)</sup> |
| Class B Common Stock |  |  |  |  |  |  |  | 11834021 | I | Ernest Irrevocable 2004 Trust III<sup>(4)(6)</sup> |
| Class B Common Stock |  |  |  |  |  |  |  | 11952000 | I | Ernest C. Garcia III Multi-Generational Trust III<sup>(2)(7)</sup> |
| Class B Common Stock |  |  |  |  |  |  |  | 3664526 | 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 | 2023-02-22 |  | A |  | 500000<sup>(8)</sup> |  | 2024-04-01<sup>(9)</sup> | 2033-02-22 | Class A Common Stock | 500000.0 | $0 | 500000 | D |  |
| Class A Units | <sup>(10)</sup> |  |  |  |  |  |  | <sup>(10)</sup> | <sup>(10)</sup> | Class A Common Stock | 11952000.0<sup>(10)</sup> |  | 14940000 | I | Ernest C. Garcia III Multi-Generational Trust III<sup>(2)(11)</sup> |
| Class A Units | <sup>(10)</sup> |  |  |  |  |  |  | <sup>(10)</sup> | <sup>(10)</sup> | Class A Common Stock | 11834021.0<sup>(10)</sup> |  | 14792526 | I | Ernest Irrevocable 2004 Trust III<sup>(4)(12)</sup> |
| Class A Units | <sup>(10)</sup> |  |  |  |  |  |  | <sup>(10)</sup> | <sup>(10)</sup> | Class A Common Stock | 3664526.0<sup>(10)</sup> |  | 4580658 | D |  |

---

### Footnotes:

(1) 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, 2024 and monthly thereafter for the following three years, subject to the Reporting Person's continued service with the Issuer.

(2) The Reporting Person is the Co-Administrative Trustee and Co-Investment Trustee of the Ernest C. Garcia III Multi-Generational Trust III (the "Multi-Generational Trust") and therefore shares voting and dispositive power over the units and shares held directly by the Multi-Generational Trust. The reported securities are directly held by the Multi-Generational Trust, for which the Reporting Person was formally named Co-Trustee on February 1, 2022.  Because this change in the Reporting Person's beneficial ownership did not involve a reportable transfer or other transaction with respect to the Issuer's securities, this filing is voluntarily being made now in order to incorporate securities held by the Multi-Generational Trust into his reported holdings.

(3) These shares of Class A Common Stock are held directly by the Multi-Generational Trust.

(4) The Reporting Person is the Co-Administrative Trustee and Co-Investment Trustee of the Ernest Irrevocable 2004 Trust III (the "Irrevocable Trust") and therefore shares voting and dispositive power over the shares held directly by the Irrevocable Trust.

(5) These shares of Class A Common Stock are held directly by the Irrevocable Trust.

(6) These shares of Class B Common Stock are held directly by the Irrevocable Trust.

(7) These shares of Class B Common Stock are held directly by the Multi-Generational Trust.

(8) On February 24, 2023 the Reporting Person filed a Form 4 which, due to a clerical error, incorrectly reported a grant of a non-qualified stock option representing the right to purchase 502,619 shares of Class A Common Stock of the Issuer. This amended Form 4 is filed solely to report the correct amount of 500,000 shares.

(9) 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, 2024 and monthly thereafter for the following three years, subject to the Reporting Person's continued service with the Issuer.

(10) Pursuant to the Exchange Agreeement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group, LLC and the members of Carvana Group, LLC, the Class A Units are exchangeable for 0.8 shares of Class A Common Stock of the Issuer, together with an equivalent number of shares of Class B Common Stock of the Issuer.

(11) These Class A Units are held directly by the Multi-Generational Trust.

(12) These Class A Units are held directly by the Irrevocable Trust.

**Signature:** /s/ Paul Breaux, by Power of Attorney for Ernest C. Garcia, III  
**Date:** 2023-02-28

### 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.**