Form 4: CarGurus Executive Chair Disposes of Shares for Tax Obligations
Insider Transaction Report
CarGurus, Inc. Executive Chair Langley Steinert disposed of 12,361 shares of Class A Common Stock to cover tax liabilities related to restricted stock unit vesting.
Summary
- Langley Steinert, Executive Chair, Director, and 10% Owner of CarGurus, Inc. (CARG), reported a transaction on July 1, 2025.
- The transaction involved the disposition of 12,361 shares of Class A Common Stock at a price of $33.74 per share.
- This disposition was coded as 'F', indicating shares withheld for the payment of tax liability upon the vesting of restricted stock units.
- Following this transaction, Langley Steinert directly beneficially owns 483,235 shares of Class A Common Stock.
- Additional shares are indirectly owned by The Langley Steinert Irrevocable Family Trust dated June 21, 2004, for which the reporting person expressly disclaims beneficial ownership.
Sentiment
Score: 5
Explanation: The transaction is a routine administrative event related to executive compensation and tax obligations, carrying a neutral sentiment from an investment perspective.
Positives
- The transaction indicates the vesting of restricted stock units, which is a positive event for the executive as it represents the realization of compensation.
Negatives
- The transaction resulted in a reduction of 12,361 shares from the executive's direct beneficial ownership, although this was for a routine tax purpose.
Risks
- NA
Future Outlook
NA
Management Comments
- Shares were withheld for payment of tax liability upon vesting of restricted stock units.
- The Reporting Person may be deemed to have indirect ownership over shares held by The Langley Steinert Irrevocable Family Trust, but expressly disclaims beneficial ownership of such shares.
Industry Context
NA
Comparison to Industry Standards
- NA
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| NA | NA | NA | NA | NA |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| NA | NA | NA | NA |
Legal Proceedings
- NA
Related Party Transactions
- Shares are indirectly owned by The Langley Steinert Irrevocable Family Trust dated June 21, 2004, of which the reporting person's children are the beneficiaries. The reporting person disclaims beneficial ownership of these shares.
Stakeholder Impact
- Shareholders: A minor reduction in direct insider ownership, which is a routine occurrence for tax purposes and not indicative of a change in confidence.
- Employees: The vesting of restricted stock units demonstrates the company's compensation structure for executives.
Next Steps
- NA
Key Dates
| Date | Description |
|---|---|
| 06/21/2004 | Date of The Langley Steinert Irrevocable Family Trust. |
| 07/01/2025 | Date of the reported transaction (disposition of shares). |
| 07/03/2025 | Signature date of the Form 4 filing. |
Recommendation
holdKeywords
CarGurus, CARG, Langley Steinert, Form 4, SEC filing, insider transaction, stock disposition, restricted stock units, RSU, tax withholding, executive compensation
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