SCHEDULE 13G/A: CarGurus Executive Chair Langley Steinert Discloses 13.7% Beneficial Ownership Stake
Beneficial Ownership Report
Langley Steinert, Executive Chair of CarGurus, Inc., has filed an amended Schedule 13G disclosing a beneficial ownership of 13.7% of the company's Class A common stock as of March 31, 2025.
Summary
- Langley Steinert, Executive Chair and Chair of the Board of Directors of CarGurus, Inc., filed an Amendment No. 8 to Schedule 13G.
- As of March 31, 2025, Mr. Steinert beneficially owns 13,267,313 shares of CarGurus, Inc. Class A common stock.
- This ownership represents 13.7% of the total Class A Common Stock outstanding.
- The beneficial ownership includes 719,689 shares of Class A Common Stock, 25,561 shares of Class A Common Stock underlying restricted stock units vesting within 60 days after March 31, 2025, and 12,522,063 shares of Class B common stock convertible into Class A shares.
- Mr. Steinert holds sole voting and sole dispositive power over these shares.
- The reported percentage is based on 84,630,375 shares of Class A Common Stock outstanding as of April 30, 2025, as reported in the company's Q1 2025 Form 10-Q.
- Mr. Steinert expressly disclaims beneficial ownership of shares held directly by The Langley Steinert Irrevocable Family Trust dated June 21, 2004.
- The securities were not acquired or held for the purpose of changing or influencing control of the issuer, except for activities solely in connection with a nomination under Rule 240.14a-11.
Sentiment
Score: 5
Explanation: Neutral. This is a standard regulatory filing disclosing beneficial ownership, which does not inherently convey positive or negative sentiment about the company's performance or prospects. It simply updates a significant insider's stake.
Future Outlook
NA
Industry Context
This filing is a routine disclosure of beneficial ownership by a key executive and board member of CarGurus, Inc. It does not provide broader insights into industry trends or competitive landscape.
Stakeholder Impact
- This filing provides transparency to shareholders and the market regarding the significant ownership stake held by a key executive and board member, Langley Steinert.
Key Dates
| Date | Description |
|---|---|
| 2004-06-21 | Date of The Langley Steinert Irrevocable Family Trust. |
| 2025-03-31 | Date of event requiring the filing of this statement, reflecting the beneficial ownership position. |
| 2025-04-30 | Date as of which the total Class A Common Stock outstanding (84,630,375 shares) was reported in the Issuer's Quarterly Report on Form 10-Q. |
| 2025-05-08 | Date CarGurus, Inc. filed its Quarterly Report on Form 10-Q for the quarter ended March 31, 2025. |
| 2025-05-14 | Date the Schedule 13G Amendment No. 8 was signed and filed. |
Keywords
CarGurus, Langley Steinert, Schedule 13G, Beneficial Ownership, Class A Common Stock, SEC Filing, Shareholder, Corporate Governance, Automotive Marketplace
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