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

Langley Steinert, Executive Chair of CarGurus, sold shares of Class A Common Stock over three days in late April 2025 under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Langley Steinert, the Executive Chair of CarGurus, Inc., sold shares of Class A Common Stock on April 28, 29, and 30, 2025.
• The sales were executed under a Rule 10b5-1 trading plan.
• On April 28, 2025, Steinert sold 20,640 shares at a weighted average price of $28.3828, with prices ranging from $28.11 to $28.71.
• An additional 2,291 shares were sold on the same day at the same weighted average price.
• On April 29, 2025, Steinert sold 20,640 shares at a weighted average price of $28.4885, with prices ranging from $28.07 to $28.76.
• Another 2,291 shares were sold on April 29, 2025, at the same weighted average price.
• On April 30, 2025, Steinert sold 9,575 shares at a weighted average price of $27.9024, with prices ranging from $27.28 to $28.07.
• Finally, 1,062 shares were sold on April 30, 2025, at the same weighted average price.
• Following these transactions, Steinert directly owns 854,530 shares and may be deemed to indirectly own 39,898 shares held by The Langley Steinert Irrevocable Family Trust.
• Steinert disclaims beneficial ownership of the shares held by the family trust.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, reporting the sale of shares by an executive. It is neutral in tone and content, simply reporting facts about the 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 inside information. Investors often monitor insider transactions for signals about a company's prospects, but pre-planned sales are generally viewed as less informative.

Stakeholder Impact

• The sale of shares by a key executive could be perceived negatively by some shareholders, although the use of a 10b5-1 plan mitigates this concern.

Key Dates

Keywords

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