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

Langley Steinert, Executive Chair of CarGurus, sold Class A Common Stock on May 21 and 22, 2025, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Langley Steinert, the Executive Chair of CarGurus, Inc., executed sales of Class A Common Stock on May 21 and May 22, 2025.
• The sales were conducted under a Rule 10b5-1 trading plan.
• On May 21, 2025, Steinert sold 20,639 shares at a weighted average price of $31.7891, with prices ranging from $31.51 to $32.30.
• Additionally, on the same day, 2,292 shares held by The Langley Steinert Irrevocable Family Trust were sold.
• On May 22, 2025, Steinert sold another 20,639 shares at a weighted average price of $31.6898, with prices ranging from $31.26 to $31.92.
• A further 2,292 shares held by The Langley Steinert Irrevocable Family Trust were sold on May 22, 2025.
• Following these transactions, Steinert directly owns 644,189 shares and may be deemed to indirectly own 16,518 shares held by 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.

Industry Context

Insider sales are a common occurrence, and the use of a 10b5-1 plan suggests the sales were pre-planned and not based on any specific non-public information.

Related Party Transactions

• Sales included shares held by The Langley Steinert Irrevocable Family Trust, of which Steinert's children are the beneficiaries.

Stakeholder Impact

• The share sales by a key executive could have a minor impact on investor sentiment.

Key Dates

Keywords

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