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).

1. Name and Address of Reporting Person* GARCIA ERNEST C. II (Last) (First) (Middle) 1720 W. RIO SALADO PARKWAY, SUITE A (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 X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 05/21/2019
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X 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	05/21/2019		S(1)		6,481	D	$66.1027(2)	1,163,349	I	Verde Investments, Inc.(3)
Class A Common Stock	05/21/2019		S(1)		107,548	D	$67.3628(2)	1,055,801	I	Verde Investments, Inc.(3)
Class A Common Stock	05/21/2019		S(1)		39,331	D	$68.165(2)	1,016,470	I	Verde Investments, Inc.(3)
Class A Common Stock	05/21/2019		S(1)		12,463	D	$69.0666(2)	1,004,007	I	Verde Investments, Inc.(3)
Class A Common Stock	05/22/2019		S(1)		213,179	D	$65.1657(4)	790,828	I	Verde Investments, Inc.(3)
Class A Common Stock	05/22/2019		S(1)		15,661	D	$66.1056(4)	775,167	I	Verde Investments, Inc.(3)
Class A Common Stock								100,000	I	Ernest C. Garcia III Multi-Generational Trust III(5)
Class B Common Stock								52,937,458	D
Class B Common Stock								11,922,461	I	Ernest Irrevocable 2004 Trust III(6)
Class B Common Stock								11,952,000	I	Ernest C. Garcia III Multi-Generational Trust III(7)
Class B Common Stock								8,000,000	I	ECG II SPE, LLC(8)

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
Class A Units	(9)							(9)	(9)	Class A Common Stock	(9)		66,171,823	D
Class A Units	(10)							(10)	(10)	Class A Common Stock	(10)		14,903,076	I	Ernest Irrevocable 2004 Trust III
Class A Units	(11)							(11)	(11)	Class A Common Stock	(11)		14,940,000	I	Ernest C. Garcia III Multi-Generational Trust III
Class A Units	(12)							(12)	(12)	Class A Common Stock	(12)		10,000,000	I	ECG II SPE, LLC

1. Name and Address of Reporting Person* GARCIA ERNEST C. II (Last) (First) (Middle) 1720 W. RIO SALADO PARKWAY, SUITE A (Street) TEMPE AZ 85281 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* VERDE INVESTMENTS, INC. (Last) (First) (Middle) 1720 W. RIO SALADO PARKWAY, SUITE A (Street) TEMPE AZ 85281 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by Verde Investments, Inc. on March 14, 2019.

2. The prices reported in Column 4 are weighted average prices. These shares were sold in multiple transactions at prices ranging from $65.70 to $66.65, inclusive (weighted average of $66.1027); $66.725 to $67.72, inclusive (weighted average of $67.3628); $67.73 to $68.70, inclusive (weighted average of $68.1650); and $68.73 to $69.45, inclusive (weighted average of $69.0666), 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.

3. These Class A Shares are owned directly by Verde Investments, Inc., an entity which Mr. Garcia wholly owns and controls.

4. The prices reported in Column 4 are weighted average prices. These shares were sold in multiple transactions at prices ranging from $65.00 to $65.99, inclusive (weighted average of $65.1657); and $66.00 to $66.22, inclusive (weighted average of $66.1056), 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.

5. These Class A Shares are owned directly by the Ernest C. Garcia III Multi-Generational Trust III (the "Multi-Generational Trust"). Mr. Garcia has sole investment and dispository power over the Multi-Generational Trust assets and Mr. Garcia's son, Ernie Garcia, III, together with Ernie Garcia, III's children, are the sole beneficiaries of the Multi-Generational Trust.

6. These Class B Shares are owned directly by the Ernest Irrevocable 2004 Trust III (the "2004 Trust"). Mr. Garcia has shared investment and dispository power over the 2004 Trust assets and Mr. Garcia's son, Ernie Garcia, III, is the sole beneficiary of the 2004 Trust.

7. These Class B Shares are owned directly by the Multi-Generational Trust.

8. These Class B Shares are owned directly by ECG II SPE, LLC ("E-SPE"), an entity which Mr. Garcia wholly owns and controls.

9. These Class A Units ("Class A Units") of Carvana Group, LLC ("Carvana Group") are owned directly by Ernest C. Garcia II and are exchangeable for 0.8 Class A Shares pursuant to an Exchange Agreement, dated April 27, 2017, by and among the Issuer, Carvana Co. Sub LLC, Carvana Group and the members of Carvana Group (the "Exchange Agreement").

10. 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.

11. 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.

12. These Class A Units are owned directly by E-SPE and are exchangeable for 0.8 Class A Shares pursuant to the Exchange Agreement.

Remarks:

	/s/ Ernest C. Garcia II	05/23/2019
	/s/ Ernest C. Garcia II, Verde Investments, Inc.	05/23/2019
	** Signature of Reporting Person	Date
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