CARVANA Insider Sales: 15,000-Share Form 144 Notice Filed

Rhea-AI Filing Summary

Form 144 filed for CARVANA CO. (CVNA) shows a proposed sale of 15,000 shares of common stock through Morgan Stanley Smith Barney LLC on the NYSE with an aggregate market value of $5,658,600.00. The filing lists prior acquisitions: 528 shares from restricted and performance stock units acquired 01/01/2023 and 14,472 shares from exercise of stock options dated 10/01/2025. The record of sales in the past three months shows four transactions by Paul Breaux totaling 63,000 shares on 08/01/2025, 08/04/2025, 08/05/2025 and 09/09/2025 with gross proceeds reported for each sale. The filer certifies they do not possess undisclosed material adverse information and references Rule 10b5-1 activity where indicated.

Insights

Financial Analyst

TL;DR: Insider sales continuing over several months; current notice covers a 15,000-share proposed sale via a broker.

The filing documents ongoing disposition activity by an individual associated with the issuer, including four prior sales in the past three months totaling 63,000 shares and a new proposed sale of 15,000 shares executed through Morgan Stanley Smith Barney LLC. Acquisition entries indicate both restricted/performance stock units and option exercises as the source of the shares to be sold. The filer affirms no undisclosed material information and notes Rule 10b5-1 sales where listed. For investors, this is a disclosure of insider liquidity events rather than operational or financial performance data.

Corporate Governance Expert

TL;DR: The notice is a routine insider sale filing with a 10b5-1 reference and a standard representation about material nonpublic information.

The form includes a certification that the signer lacks material nonpublic information and indicates at least one sale designated as a 10b5-1 plan. The mix of RSUs and option exercises as sources of shares is disclosed, and sales have been executed through an institutional broker. This filing is primarily a governance and disclosure matter showing compliance with Rule 144 reporting requirements and, where applicable, Rule 10b5-1 procedures rather than signaling corporate governance changes.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	15000	5658600.00	138083496	10/01/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	01/01/2023	Restricted and Performance Stock Units	Issuer			528	01/01/2023	N/A
Common	10/01/2025	Exercise of Stock Options	Issuer			14472	10/01/2025	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
10b5-1 Sales for PAUL BREAUX 300 E. Rio Salado Parkway Tempe AZ 85281	Common	09/09/2025	15000	5625000.00
PAUL BREAUX 300 E. Rio Salado Parkway Tempe AZ 85281	Common	08/05/2025	15000	5429458.08
PAUL BREAUX 300 E. Rio Salado Parkway Tempe AZ 85281	Common	08/04/2025	15000	5510100.00
PAUL BREAUX 300 E. Rio Salado Parkway Tempe AZ 85281	Common	08/01/2025	18000	6750720.00

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)