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

Langley Steinert, Executive Chair of CarGurus, Inc., executed sales of Class A Common Stock on May 19 and May 20, 2025, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Langley Steinert, the Executive Chair of CarGurus, Inc., reported the sale of Class A Common Stock on May 19 and May 20, 2025.
• The sales were executed under a Rule 10b5-1 trading plan.
• On May 19, 2025, Steinert sold 20,639 shares at a weighted average price of $32.0975, with prices ranging from $31.975 to $32.36.
• On the same day, 2,292 shares held indirectly through The Langley Steinert Irrevocable Family Trust were sold at the same weighted average price.
• On May 20, 2025, Steinert sold another 20,639 shares at a weighted average price of $32.2541, with prices ranging from $31.80 to $32.50.
• Additionally, 2,292 shares held indirectly through the family trust were sold at the same weighted average price on May 20, 2025.
• Following these transactions, Steinert directly owns 685,467 shares and indirectly owns 21,102 shares through the family trust.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating insider trading activity. The sentiment is neutral as it simply reports transactions without expressing any positive or negative outlook.

Industry Context

Insider sales are a common occurrence, especially when executed under pre-arranged trading plans like Rule 10b5-1. These plans allow insiders to sell shares over a period of time without being accused of trading on non-public information. The market typically views these sales in the context of the overall trading volume and the individual's holdings.

Key Dates

Keywords

CarGurus, Langley Steinert, Class A Common Stock, Rule 10b5-1, Executive Chair, insider trading, stock sale