<SEC-DOCUMENT>0001700537-25-000007.txt : 20251002
<SEC-HEADER>0001700537-25-000007.hdr.sgml : 20251002
<ACCEPTANCE-DATETIME>20251002181152
ACCESSION NUMBER:		0001700537-25-000007
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20251001
FILED AS OF DATE:		20251002
DATE AS OF CHANGE:		20251002

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:		251371120

	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>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>wk-form4_1759443109.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
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    <periodOfReport>2025-10-01</periodOfReport>

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        <issuerName>CARVANA CO.</issuerName>
        <issuerTradingSymbol>CVNA</issuerTradingSymbol>
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            <rptOwnerStreet1>C/O CARVANA CO.</rptOwnerStreet1>
            <rptOwnerStreet2>300 E. RIO SALADO PARKWAY</rptOwnerStreet2>
            <rptOwnerCity>TEMPE</rptOwnerCity>
            <rptOwnerState>AZ</rptOwnerState>
            <rptOwnerZipCode>85281</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Operating Officer</officerTitle>
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                <directOrIndirectOwnership>
                    <value>D</value>
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        <nonDerivativeTransaction>
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                    <footnoteId id="F2"/>
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                    <footnoteId id="F3"/>
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                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
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                <sharesOwnedFollowingTransaction>
                    <value>103297</value>
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                <directOrIndirectOwnership>
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                </directOrIndirectOwnership>
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        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class A Common Stock</value>
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                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
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            <transactionAmounts>
                <transactionShares>
                    <value>100</value>
                    <footnoteId id="F2"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>396.76</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
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                <sharesOwnedFollowingTransaction>
                    <value>103197</value>
                </sharesOwnedFollowingTransaction>
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                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Options (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>10.07</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2025-10-01</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F2"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>10000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2024-04-01</value>
                <footnoteId id="F18"/>
            </exerciseDate>
            <expirationDate>
                <value>2033-02-22</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>10000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>428513</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </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 option exercises 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">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 $379.67 to $380.38, inclusive.</footnote>
        <footnote id="F5">This transaction was executed in multiple trades at prices ranging from $381.11 to $381.56, inclusive.</footnote>
        <footnote id="F6">This transaction was executed in multiple trades at prices ranging from $382.62 to $383.46, inclusive.</footnote>
        <footnote id="F7">This transaction was executed in multiple trades at prices ranging from $383.71 to $384.67, inclusive.</footnote>
        <footnote id="F8">This transaction was executed in multiple trades at prices ranging from $384.78 to $385.73, inclusive.</footnote>
        <footnote id="F9">This transaction was executed in multiple trades at prices ranging from $385.86 to $386.73, inclusive.</footnote>
        <footnote id="F10">This transaction was executed in multiple trades at prices ranging from $386.88 to $387.75, inclusive.</footnote>
        <footnote id="F11">This transaction was executed in multiple trades at prices ranging from $388.31 to $389.11, inclusive.</footnote>
        <footnote id="F12">This transaction was executed in multiple trades at prices ranging from $389.63 to $390.62, inclusive.</footnote>
        <footnote id="F13">This transaction was executed in multiple trades at prices ranging from $390.63 to $391.60, inclusive.</footnote>
        <footnote id="F14">This transaction was executed in multiple trades at prices ranging from $391.69 to $392.60, inclusive.</footnote>
        <footnote id="F15">This transaction was executed in multiple trades at prices ranging from $392.94 to $393.84, inclusive.</footnote>
        <footnote id="F16">This transaction was executed in multiple trades at prices ranging from $393.97 to $394.93, inclusive.</footnote>
        <footnote id="F17">This transaction was executed in multiple trades at prices ranging from $395.13 to $395.81, inclusive.</footnote>
        <footnote id="F18">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, 2024 and monthly thereafter for the following
three years, subject to the Reporting Person's continued service with the Issuer.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>/s/ Paul Breaux, by Power of Attorney for Benjamin E. Huston</signatureName>
        <signatureDate>2025-10-02</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
