Form 4: CarGurus CTO Sells Shares Under Pre-Arranged Trading Plan
Insider Transaction Report
CarGurus, Inc.'s Chief Technology Officer, Matthew Todd Quinn, reported the sale of Class A Common Stock, including shares withheld for tax liabilities, totaling 12,247 shares in early July 2025.
Summary
- Matthew Todd Quinn, Chief Technology Officer of CarGurus, Inc. (CARG), reported changes in his beneficial ownership of Class A Common Stock.
- On July 1, 2025, 8,458 shares were disposed of at a price of $33.74 per share, representing shares withheld for payment of tax liability upon the vesting of restricted stock units.
- Following this transaction, Matthew Todd Quinn beneficially owned 220,666 shares of Class A Common Stock.
- On July 2, 2025, an additional 3,789 shares were sold at a price of $33.09 per share.
- This sale was executed pursuant to a Rule 10b5-1 trading plan previously adopted by Matthew Todd Quinn.
- After both reported transactions, Matthew Todd Quinn's direct beneficial ownership stands at 216,877 shares of Class A Common Stock.
Sentiment
Score: 5
Explanation: The sentiment is neutral. While insider selling can sometimes be perceived negatively, the transactions are routine (tax withholding) and pre-planned (10b5-1 sale), which mitigates any strong negative signal. It does not indicate any new positive or negative developments for the company.
Negatives
- An insider, the Chief Technology Officer, sold a total of 12,247 shares of Class A Common Stock over two days in early July 2025.
Future Outlook
The document does not provide any forward-looking statements or guidance regarding the company's future performance or strategic direction.
Management Comments
- The sale of 3,789 shares was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person.
Industry Context
This Form 4 filing reports routine insider transactions and does not provide information that directly relates to broader industry trends or competitive dynamics within the online automotive marketplace sector.
Stakeholder Impact
- Shareholders: The sale of shares by a key executive could be interpreted as a minor signal, though the pre-planned nature of the sale under Rule 10b5-1 reduces its significance as a discretionary action.
Key Dates
| Date | Description |
|---|---|
| 07/01/2025 | Date of disposition of 8,458 shares of Class A Common Stock for tax liability upon RSU vesting. |
| 07/02/2025 | Date of sale of 3,789 shares of Class A Common Stock under a Rule 10b5-1 trading plan. |
| 07/03/2025 | Date the Form 4 filing was signed. |
Keywords
CarGurus, CARG, Insider Trading, Form 4, Stock Sale, CTO, Matthew Todd Quinn, 10b5-1 Plan, Restricted Stock Units, Tax Withholding
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