Form 4: CarGurus Executive Chair Langley Steinert Converts Class B Common Stock to Class A

Langley Steinert, Executive Chair of CarGurus, converted 241,935 shares of Class B Common Stock into Class A Common Stock on September 4, 2024.

Summary

• On September 4, 2024, Langley Steinert, the Executive Chair of CarGurus, converted 241,935 shares of Class B Common Stock into Class A Common Stock.
• The conversion was done at the Reporting Person's election.
• Following the transaction, Steinert directly owns 687,286 shares of Class A Common Stock.
• Steinert may be deemed to have indirect ownership over shares held by The Langley Steinert Irrevocable Family Trust, but disclaims beneficial ownership of those shares.
• After the transaction, Steinert directly owns 13,908,952 shares of Class B Common Stock.

Sentiment

Score: 5

Explanation: This is a neutral event, simply a conversion of stock classes by an executive. It doesn't inherently indicate positive or negative sentiment.

Industry Context

Form 4 filings are standard disclosures required by the SEC when insiders of a company, like directors or officers, trade in the company's stock. This filing indicates a change in Steinert's holdings of CarGurus stock.

Key Dates