Form 4: CarGurus Executive Chair Langley Steinert Reports Stock Transaction

Langley Steinert, Executive Chair of CarGurus, Inc., reports a transaction involving Class A Common Stock on October 1, 2024, resulting from shares withheld for tax liability upon vesting of restricted stock units.

Summary

• On October 1, 2024, Langley Steinert, the Executive Chair of CarGurus, Inc., engaged in a transaction involving Class A Common Stock.
• 11,525 shares were disposed of at a price of $29.65 per share to cover tax liabilities upon the vesting of restricted stock units.
• Following the transaction, Steinert directly owns 433,826 shares of Class A Common Stock.
• Steinert may be deemed to have indirect ownership over shares held by The Langley Steinert Irrevocable Family Trust dated June 21, 2004, of which his children are the beneficiaries, but he disclaims beneficial ownership of these shares.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing a routine stock transaction for tax purposes. It doesn't inherently convey positive or negative sentiment.

Industry Context

This Form 4 filing is a routine disclosure required by the SEC when a company insider, like the Executive Chair, engages in transactions involving the company's stock. It provides transparency to the market regarding insider activity.

Stakeholder Impact

• The transaction has a minimal impact on stakeholders as it is a routine sale of shares to cover tax obligations.

Key Dates