Form 4: CarGurus Executive Chair Langley Steinert Reports Tax-Related Stock Transaction

Langley Steinert, Executive Chair of CarGurus, Inc., reports a transaction involving the withholding of shares for payment of tax liability upon vesting of restricted stock units.

Summary

• On April 1, 2024, Langley Steinert, the Executive Chair of CarGurus, Inc., had 7,417 Class A Common Stock shares withheld to cover tax obligations.
• The transaction was executed at a price of $23 per share.
• Following the transaction, Steinert directly owns 456,878 shares of Class A Common Stock.
• Steinert also has indirect ownership of Class A Common Stock through The Langley Steinert Irrevocable Family Trust dated June 21, 2004, of which the Reporting Person's children are the beneficiaries.
• Steinert disclaims beneficial ownership of the shares held by the trust.

Sentiment

Score: 7

Explanation: This Form 4 filing is a routine disclosure of a tax-related transaction, indicating standard corporate governance practices. It doesn't inherently suggest positive or negative sentiment, but rather transparency.

Industry Context

This is a routine disclosure related to executive compensation and tax obligations, common among publicly traded companies.

Stakeholder Impact

• The transaction has a minimal direct impact on shareholders, as it relates to tax obligations of an executive.

Key Dates