Carvana (NYSE: CVNA) VP of Accounting sells 1,000 shares, holds 40,224

Rhea-AI Filing Summary

Carvana Co. insider reports stock transactions and tax withholding

Carvana Co. executive Stephen R. Palmer, Vice President of Accounting, reported two transactions in the company’s Class A common stock on 12/01/2025. First, 644 shares were withheld to cover taxes upon the vesting of restricted stock units, at a price of $375.26 per share. This is a non-open-market transaction tied to equity compensation.

On the same date, Palmer sold 1,000 shares of Class A common stock at a price of $372.31 per share under a pre-arranged Rule 10b5-1 trading plan adopted on May 28, 2025. After these transactions, he beneficially owned 40,224 shares of Carvana Class A common stock directly.

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Palmer Stephen R

(Last) (First) (Middle)

C/O CARVANA CO.

300 E. RIO SALADO PKWY

(Street)

TEMPE AZ 85281

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CARVANA CO. [ CVNA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Vice President of Accounting

3. Date of Earliest Transaction (Month/Day/Year)
12/01/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	12/01/2025		F		644(1)	D	$375.26	41,224	D
Class A Common Stock	12/01/2025		S		1,000(2)	D	$372.31	40,224	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

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 sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 28, 2025 (the "10b5-1 Plan").

Remarks:

	/s/ Paul Breaux, by Power of Attorney for Stephen R. Palmer	12/02/2025
	** Signature of Reporting Person	Date
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.

FAQ

What insider transaction did Carvana (CVNA) report for Stephen R. Palmer?

Carvana’s Vice President of Accounting, Stephen R. Palmer, reported two transactions in Class A common stock on 12/01/2025: a tax withholding of 644 shares upon restricted stock unit vesting and an open-market sale of 1,000 shares.

How many Carvana (CVNA) shares did the insider sell and at what price?

Stephen R. Palmer sold 1,000 shares of Carvana Class A common stock on 12/01/2025 at a price of $372.31 per share.

Were the Carvana (CVNA) insider sales under a Rule 10b5-1 plan?

Yes. The 1,000-share sale reported for 12/01/2025 was effected pursuant to a Rule 10b5-1 trading plan adopted by Stephen R. Palmer on May 28, 2025.

Why were 644 Carvana (CVNA) shares withheld from Stephen R. Palmer?

The 644 shares of Class A common stock were withheld to pay taxes due upon the vesting of restricted stock units under various equity awards.

How many Carvana (CVNA) shares does the insider own after these transactions?

Following the reported transactions on 12/01/2025, Stephen R. Palmer beneficially owned 40,224 shares of Carvana Class A common stock directly.

What is Stephen R. Palmer’s role at Carvana (CVNA)?

Stephen R. Palmer is identified as an officer of Carvana Co., serving as Vice President of Accounting.