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

Langley Steinert, Executive Chair of CarGurus, Inc., executed multiple sales of Class A Common Stock on February 20 and 21, 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 February 20 and 21, 2025.
• The sales were executed under a Rule 10b5-1 trading plan.
• On February 20, 2025, Steinert sold 45,130 shares at a weighted average price of $37.3398 and 277 shares at a weighted average price of $37.9803.
• Additional sales on February 20, 2025, involved 5,013 shares and 29 shares indirectly held through The Langley Steinert Irrevocable Family Trust.
• On February 21, 2025, Steinert sold 11,875 shares at a weighted average price of $30.48, 8,315 shares at $31.1091, 372 shares at $32.4381, and 77 shares at $33.67.
• Further sales on February 21, 2025, involved 1,319 shares, 923 shares, 41 shares, and 9 shares indirectly held through The Langley Steinert Irrevocable Family Trust.
• Following these transactions, Steinert directly owns 496,134 shares and indirectly owns 7,743 shares through the family trust.
• The prices for the sales varied within specified ranges, and detailed information about the number of shares sold at each price is available upon request.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing regarding stock sales by an executive, indicating a neutral sentiment.

Future Outlook

The document does not contain any specific forward-looking statements or guidance.

Industry Context

This filing is a routine disclosure of stock sales by a company executive and doesn't necessarily reflect broader industry trends. However, it's common for executives to utilize 10b5-1 plans to diversify their holdings over time.

Comparison to Industry Standards

• Executive stock sales are a common occurrence in publicly traded companies.
• The use of a 10b5-1 trading plan is a standard practice to avoid accusations of insider trading.
• Comparable companies like AutoTrader Group or Cars.com also see similar filings from their executives.

Stakeholder Impact

• The stock sales could have a minor impact on shareholders, potentially causing a slight decrease in stock price due to increased supply.
• The impact on other stakeholders such as employees, customers, suppliers, and creditors is likely to be negligible.

Key Dates

Keywords

CarGurus, Langley Steinert, Executive Chair, Class A Common Stock, SEC Form 4, Rule 10b5-1, Share Sale, Beneficial Ownership, Trading Plan