# EDGAR Filing Document

**Accession Number:** 0001700537
**File Stem:** 0001690820-25-000209
**Filing Date:** 2025-6
**Character Count:** 13663
**Document Hash:** 1d71f55cc38b0727af33ef8cffb0d81a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001690820-25-000209.hdr.sgml**: 20250603

**ACCESSION NUMBER**: 0001690820-25-000209

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250530

**FILED AS OF DATE**: 20250603

**DATE AS OF CHANGE**: 20250603

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** HUSTON BENJAMIN E.
- **CENTRAL INDEX KEY:** 0001700537

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38073
- **FILM NUMBER:** 251021299

**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>HUSTON BENJAMIN E.<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>2025-05-30 | **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 Operating 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 | 2025-05-30 |  | M |  | 26753<sup>(1)</sup> | A | $38 | 176047 | D |  |
| Class A Common Stock | 2025-05-30 |  | S |  | 26753<sup>(1)</sup> | D | 325.13<sup>(2)</sup> | 149294 | D |  |
| Class A Common Stock | 2025-06-01 |  | F |  | 1220<sup>(3)</sup> | D | $327.16 | 148074 | D |  |
| Class A Common Stock | 2025-06-02 |  | S |  | 200<sup>(1)</sup> | D | 317.43<sup>(4)</sup> | 147874 | D |  |
| Class A Common Stock | 2025-06-02 |  | S |  | 388<sup>(1)</sup> | D | 319.06<sup>(5)</sup> | 147486 | D |  |
| Class A Common Stock | 2025-06-02 |  | S |  | 500<sup>(1)</sup> | D | 319.95<sup>(6)</sup> | 146986 | D |  |
| Class A Common Stock | 2025-06-02 |  | S |  | 700<sup>(1)</sup> | D | 321.19<sup>(7)</sup> | 146286 | D |  |
| Class A Common Stock | 2025-06-02 |  | S |  | 500<sup>(1)</sup> | D | 322.33<sup>(8)</sup> | 145786 | D |  |
| Class A Common Stock | 2025-06-02 |  | S |  | 300<sup>(1)</sup> | D | 323.26<sup>(9)</sup> | 145486 | D |  |
| Class A Common Stock | 2025-06-02 |  | S |  | 500<sup>(1)</sup> | D | 324.72<sup>(10)</sup> | 144986 | D |  |
| Class A Common Stock | 2025-06-02 |  | S |  | 1140<sup>(1)</sup> | D | 325.84<sup>(11)</sup> | 143846 | D |  |
| Class A Common Stock | 2025-06-02 |  | S |  | 1192<sup>(1)</sup> | D | 326.48<sup>(12)</sup> | 142654 | D |  |
| Class A Common Stock | 2025-06-02 |  | S |  | 853<sup>(1)</sup> | D | 327.70<sup>(13)</sup> | 141801 | D |  |
| Class A Common Stock | 2025-06-02 |  | S |  | 347<sup>(1)</sup> | D | 328.86<sup>(14)</sup> | 141454 | D |  |
| Class A Common Stock | 2025-06-02 |  | S |  | 1300<sup>(1)</sup> | D | 329.86<sup>(15)</sup> | 140154 | D |  |
| Class A Common Stock | 2025-06-02 |  | S |  | 1480<sup>(1)</sup> | D | 330.93<sup>(16)</sup> | 138674 | D |  |
| Class A Common Stock | 2025-06-02 |  | S |  | 600<sup>(1)</sup> | D | 331.70<sup>(17)</sup> | 138074 | 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) | $38 | 2025-05-30 |  | M<sup>(1)</sup> |  |  | 26753 | 2020-04-01<sup>(18)</sup> | 2029-02-25 | Class A Common Stock | 26753 | $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) This transaction was executed in multiple trades at prices ranging from $325.00 to $325.75, 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.

(3) 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.

(4) This transaction was executed in multiple trades at prices ranging from $317.02 to $317.83, 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 $318.60 to $319.37, 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 $319.68 to $320.37, 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 $320.78 to $321.43, 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 $321.88 to $322.75, 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 $323.00 to $323.61, 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 $324.13 to $325.02, 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 $325.13 to $326.10, 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) This transaction was executed in multiple trades at prices ranging from $326.21 to $326.84, 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.

(13) This transaction was executed in multiple trades at prices ranging from $327.26 to $328.15, 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.

(14) This transaction was executed in multiple trades at prices ranging from $328.27 to $329.26, 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.

(15) This transaction was executed in multiple trades at prices ranging from $329.50 to $330.34, 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.

(16) This transaction was executed in multiple trades at prices ranging from $330.55to $331.21, 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.

(17) This transaction was executed in multiple trades at prices ranging from $331.58 to $331.90, 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.

(18) 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, 2020 and monthly thereafter for the followingthree years, subject to the Reporting Person's continued service with the Issuer.

**Signature:** /s/ Paul Breaux, by Power of Attorney for Benjamin E. Huston  
**Date:** 2025-06-03

### 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.**