<SEC-DOCUMENT>0000950170-24-081684.txt : 20240703
<SEC-HEADER>0000950170-24-081684.hdr.sgml : 20240703
<ACCEPTANCE-DATETIME>20240703183430
ACCESSION NUMBER:		0000950170-24-081684
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20240701
FILED AS OF DATE:		20240703
DATE AS OF CHANGE:		20240703

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			GARCIA ERNEST C. II
		CENTRAL INDEX KEY:			0001017608
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38073
		FILM NUMBER:		241101252

	MAIL ADDRESS:	
		STREET 1:		5430 LYNDON B. JOHNSON FWY, TOWER 3
		STREET 2:		SUITE 1250
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75240

	FORMER NAME:	
		FORMER CONFORMED NAME:	GARCIA ERNEST C II
		DATE OF NAME CHANGE:	19960626

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ECG II SPE, LLC
		CENTRAL INDEX KEY:			0001754720
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			AZ
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38073
		FILM NUMBER:		241101250

	BUSINESS ADDRESS:	
		STREET 1:		5430 LYNDON B. JOHNSON FWY, TOWER 3
		STREET 2:		SUITE 1250
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75240
		BUSINESS PHONE:		469.564.4800

	MAIL ADDRESS:	
		STREET 1:		5430 LYNDON B. JOHNSON FWY, TOWER 3
		STREET 2:		SUITE 1250
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75240

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			VERDE INVESTMENTS, INC.
		CENTRAL INDEX KEY:			0001704727
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			AZ
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38073
		FILM NUMBER:		241101251

	BUSINESS ADDRESS:	
		STREET 1:		5430 LYNDON B. JOHNSON FWY, TOWER 3
		STREET 2:		SUITE 1250
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75201
		BUSINESS PHONE:		469.564.4800

	MAIL ADDRESS:	
		STREET 1:		5430 LYNDON B. JOHNSON FWY, TOWER 3
		STREET 2:		SUITE 1250
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75201

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
		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
</SEC-HEADER>
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<SEQUENCE>1
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            <securityTitle>
                <value>Class A Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>850000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Ernest Irrevocable 2004 Trust III</value>
                    <footnoteId id="F5"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Class A Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>950000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Ernest C. Garcia III Multi-Generational Trust III</value>
                    <footnoteId id="F6"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Class B Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>41442317</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Class B Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>11834021</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Ernest Irrevocable 2004 Trust III</value>
                    <footnoteId id="F7"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Class B Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>11952000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Ernest C. Garcia III Multi-Generational Trust III</value>
                    <footnoteId id="F8"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Class B Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>8000000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>ECG II SPE, LLC</value>
                    <footnoteId id="F9"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Class A Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F10"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F10"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F10"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>51802896</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>51802896</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Class A Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F11"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F11"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F11"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>14792526</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>14792526</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Ernest Irrevocable 2004 Trust III</value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Class A Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F12"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F12"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F12"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>14940000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>14940000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Ernest C. Garcia III Multi-Generational Trust III</value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Class A Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F13"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F13"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F13"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>10000000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>10000000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>ECG II SPE, LLC</value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by Ernest C. Garcia II and Elizabeth Joanne Garcia on March 11, 2024.</footnote>
        <footnote id="F2">The prices reported in Column 4 are weighted average prices.  These shares were sold in multiple transactions at prices ranging from $121.20 to $122.16, inclusive (weighted average of $121.6644); $122.37 to $123.3698, inclusive (weighted average of $123.0937); $123.37 to $124.36, inclusive (weighted average of $123.8645); $124.38 to $125.36, inclusive (weighted average of $124.9203); $125.39 to $126.37, inclusive (weighted average of $125.6599); $126.4268 to $127.3115, inclusive (weighted average of $126.6324); $127.7002 to $128.6553, inclusive (weighted average of $128.2705); and $128.74 to $129.03, inclusive (weighted average of $128.9867), respectively.  The reporting person undertakes to provide to the issuer or to the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth herein.</footnote>
        <footnote id="F3">The prices reported in Column 4 are weighted average prices.  These shares were sold in multiple transactions at prices ranging from $121.6039 to $122.60, inclusive (weighted average of $122.1947); $122.6075 to $123.604, inclusive (weighted average of $123.0154); $123.61 to $124.59, inclusive (weighted average of $124.1496); $124.61 to $125.58, inclusive (weighted average of $125.0496); $125.64 to $126.62, inclusive (weighted average of $126.0919); $126.79 to $127.78, inclusive (weighted average of $127.2475); and $127.80 to $128.32, inclusive (weighted average of $127.9736), respectively.  The reporting person undertakes to provide to the issuer or to the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth herein.</footnote>
        <footnote id="F4">These Class A Shares are owned directly by Verde Investments, Inc., an entity which Mr. Garcia wholly owns and controls.</footnote>
        <footnote id="F5">These Class A Shares are owned directly by the Ernest Irrevocable 2004 Trust III (the &quot;2004 Trust&quot;). Mr. Garcia may have shared voting and dispositive power with respect to the Class A Shares held by the 2004 Trust. Mr. Garcia is a non-voting co-trustee with respect to the 2004 Trust and Mr. Garcia's son, Ernie Garcia III, is the sole beneficiary.</footnote>
        <footnote id="F6">These Class A Shares are owned directly by the Ernest C. Garcia III Multi-Generational Trust III (the &quot;Multi-Generational Trust&quot;). Mr. Garcia may have shared voting and dispositive power with respect to the Class A Shares held by the Multi-Generational Trust. Mr. Garcia is a non-voting co-trustee with respect to the Multi-Generational Trust, and Ernie Garcia III and his children are the sole beneficiaries.</footnote>
        <footnote id="F7">These Class B Shares are owned directly by the 2004 Trust.</footnote>
        <footnote id="F8">These Class B Shares are owned directly by the Multi-Generational Trust.</footnote>
        <footnote id="F9">These Class B Shares are owned directly by ECG II SPE, LLC (&quot;E-SPE&quot;), an entity which Mr. Garcia wholly owns and controls.</footnote>
        <footnote id="F10">These Class A Units are exchangeable for 0.8 Class A Shares pursuant to the Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the &quot;Exchange Agreement&quot;).</footnote>
        <footnote id="F11">These Class A Units are owned directly by the 2004 Trust and are exchangeable for 0.8 Class A Shares pursuant to the Exchange Agreement.</footnote>
        <footnote id="F12">These Class A Units are owned directly by the Multi-Generational Trust and are exchangeable for 0.8 Class A Shares pursuant to the Exchange Agreement.</footnote>
        <footnote id="F13">These Class A Units are owned directly by E-SPE and are exchangeable for 0.8 Class A Shares pursuant to the Exchange Agreement.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Ernest c. Garcia II</signatureName>
        <signatureDate>2024-07-03</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Ernest C. Garcia II, Verde Investments, Inc.</signatureName>
        <signatureDate>2024-07-03</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Ernest C. Garcia II, ECG II SPE, LLC</signatureName>
        <signatureDate>2024-07-03</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
