<SEC-DOCUMENT>0001690820-25-000149.txt : 20250505
<SEC-HEADER>0001690820-25-000149.hdr.sgml : 20250505
<ACCEPTANCE-DATETIME>20250505192415
ACCESSION NUMBER:		0001690820-25-000149
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250501
FILED AS OF DATE:		20250505
DATE AS OF CHANGE:		20250505

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:		25914659

	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
</SEC-HEADER>
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<TYPE>4
<SEQUENCE>1
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<DESCRIPTION>FORM 4
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                <value>Class A Common Stock</value>
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                <transactionCode>C</transactionCode>
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    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Class B Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0</value>
                <footnoteId id="F13"/>
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            <transactionDate>
                <value>2025-05-05</value>
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            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>C</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
                <transactionShares>
                    <value>12500</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F13"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
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            <exerciseDate>
                <footnoteId id="F13"/>
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            <expirationDate>
                <footnoteId id="F13"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>10000</value>
                    <footnoteId id="F14"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>45561</value>
                </sharesOwnedFollowingTransaction>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">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.</footnote>
        <footnote id="F2">The reported unit conversions and sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 13, 2024 (the &quot;10b5-1 Plan&quot;).</footnote>
        <footnote id="F3">This transaction was executed in multiple trades at prices ranging from $248.05 to $248.96, 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.</footnote>
        <footnote id="F4">This transaction was executed in multiple trades at prices ranging from $250.05 to $250.33, 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.</footnote>
        <footnote id="F5">This transaction was executed in multiple trades at prices ranging from $251.59 to $252.57, 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.</footnote>
        <footnote id="F6">This transaction was executed in multiple trades at prices ranging from $252.61 to $253.58, 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.</footnote>
        <footnote id="F7">This transaction was executed in multiple trades at prices ranging from $253.85 to $254.78, 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.</footnote>
        <footnote id="F8">This transaction was executed in multiple trades at prices ranging from $254.97 to $255.91, 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.</footnote>
        <footnote id="F9">This transaction was executed in multiple trades at prices ranging from $255.98 to $256.80, 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.</footnote>
        <footnote id="F10">This transaction was executed in multiple trades at prices ranging from $257.14 to $258.03, 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.</footnote>
        <footnote id="F11">This transaction was executed in multiple trades at prices ranging from $259.10 to $259.67, 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.</footnote>
        <footnote id="F12">This transaction was executed in multiple trades at prices ranging from $262.03 to $262.42, 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.</footnote>
        <footnote id="F13">Mr. Huston was granted 1,000,000 Class B common units (&quot;Class B Units&quot;) of Carvana Group, LLC (&quot;Carvana Group&quot;) on March 24, 2015 with a participation threshold of $0.00; 250,000 vested on the grant date and 16,667 vest on the first of each month thereafter.</footnote>
        <footnote id="F14">Pursuant to an exchange agreement among the Issuer and certain common unit holders of Carvana Group, LLC, dated April 27, 2017 (the &quot;Exchange Agreement&quot;), holders of Class B Units may
exchange their Class B Units for a number of shares of the Issuer's Class A Common Stock equal to the Class A Common Stock Value less the Adjusted Participation Threshold (as each term is defined
in the Exchange Agreement) multiplied by 0.8 times the number of Class B Units being exchanged, divided by the Class A Common Stock Value.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>/s/ Paul Breaux, by Power of Attorney for Benjamin E. Huston</signatureName>
        <signatureDate>2025-05-05</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</SEC-DOCUMENT>
