Form 4: Camping World CEO Lemonis Sells Shares for Tax

Camping World Holdings CEO Marcus Lemonis disposed of 78,700 shares of Class A Common Stock at $10.81 per share to cover tax liabilities.

Summary

• Marcus Lemonis, Chief Executive Officer, Director, and 10% Owner of Camping World Holdings, Inc. (CWH), reported a transaction involving Class A Common Stock.
• On November 15, 2025, 78,700 shares of Class A Common Stock were disposed of.
• The transaction was coded 'F', indicating a payment of tax liability by withholding securities.
• The disposal occurred at a price of $10.81 per share.
• Following this transaction, Marcus Lemonis directly beneficially owns 1,426,568 shares of Class A Common Stock.
• The transaction was made pursuant to a contract, instruction, or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Sentiment

Score: 5

Explanation: The transaction is a routine disposal of shares by an insider to cover tax liabilities, executed under a pre-arranged 10b5-1 plan, which is generally considered neutral in terms of company sentiment.

Positives

• The transaction was executed under a Rule 10b5-1(c) plan, indicating a pre-arranged, non-discretionary sale for tax purposes.

Negatives

• Marcus Lemonis disposed of 78,700 shares of Class A Common Stock, reducing his direct beneficial ownership.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This insider transaction is a routine event and does not provide specific insights into broader industry trends or competitive landscape.

Corporate Governance

Stakeholder Impact

• Shareholders: A slight reduction in direct insider ownership by the CEO, but for a routine and pre-planned tax purpose, which typically has minimal impact on investor confidence.

Key Dates

Recommendation

The filing reports a routine insider transaction by CEO Marcus Lemonis to cover tax liabilities, executed under a pre-arranged 10b5-1 plan. This type of transaction is not indicative of a change in the company's fundamental performance or outlook, thus a 'hold' recommendation is appropriate as it provides no new information to alter an investment thesis.

Keywords

Camping World Holdings, CWH, Marcus Lemonis, insider transaction, stock sale, Form 4, CEO, director, 10% owner, equity, Class A Common Stock, 10b5-1 plan, tax liability