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

Langley Steinert, Executive Chair of CarGurus, sold shares of Class A Common Stock on February 27, 2025, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On February 27, 2025, Langley Steinert, the Executive Chair of CarGurus, Inc. [CARG], sold shares of Class A Common Stock.
• The sales were executed under a Rule 10b5-1 trading plan.
• A total of 7,643 shares were sold at a weighted average price of $31.125 per share, with individual transaction prices ranging from $30.70 to $31.57.
• Following the transaction, Steinert directly owns 1,120,019 shares of Class A Common Stock.
• Steinert may be deemed to have indirect ownership over 77,052 shares held by The Langley Steinert Irrevocable Family Trust dated June 21, 2004, of which his children are the beneficiaries, but he expressly disclaims beneficial ownership of these shares.

Sentiment

Score: 5

Explanation: The sentiment is neutral as it simply reports a transaction. The sale is under a 10b5-1 plan, which mitigates negative interpretations.

Industry Context

This filing is a routine disclosure of insider trading activity. Insiders may sell shares for a variety of reasons, including diversification or personal financial planning. The use of a 10b5-1 trading plan suggests that the sales were pre-planned and not based on any specific non-public information.

Stakeholder Impact

• The sale of shares by a key executive could be perceived negatively by some shareholders, although the existence of a 10b5-1 plan may mitigate concerns.

Key Dates