Form 4: CarGurus Executive Chair Langley Steinert Sells Shares Under 10b5-1 Plan

Langley Steinert, Executive Chair of CarGurus, sold 12,160 shares of Class A Common Stock on December 23, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• Langley Steinert, the Executive Chair of CarGurus, sold a total of 12,160 shares of Class A Common Stock on December 23, 2024.
• The sales were executed under a pre-arranged Rule 10b5-1 trading plan.
• 10,935 shares were sold directly at a weighted average price of $35.9221 per share.
• An additional 1,225 shares were sold indirectly through The Langley Steinert Irrevocable Family Trust, also at a weighted average price of $35.9221 per share.
• The direct sales resulted in Steinert holding 896,122 shares directly after the transaction.
• The indirect sales resulted in the trust holding 51,368 shares, with Steinert disclaiming beneficial ownership of these shares.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing detailing stock sales by an executive under a pre-arranged plan. It does not indicate any significant positive or negative sentiment.

Industry Context

This is a routine filing related to insider trading activity. It is common for executives to use 10b5-1 plans to sell shares over time to avoid accusations of insider trading.

Comparison to Industry Standards

• The use of a 10b5-1 trading plan is a standard practice among corporate executives to manage their stock sales and avoid potential insider trading issues.
• The reported transaction is consistent with typical Form 4 filings for insider stock sales.
• The price range of $35.66 to $36.17 per share is within the normal trading range for CarGurus stock.

Stakeholder Impact

• The stock sale may have a minor impact on the share price, but it is unlikely to be significant given the pre-arranged nature of the transaction.

Key Dates

Keywords

CarGurus, Langley Steinert, insider trading, Form 4, Rule 10b5-1, stock sale, executive chair, Class A Common Stock