Form 4: CarGurus Executive Chair Langley Steinert Sells Shares Under 10b5-1 Trading Plan
SEC Form 4 Filing
Langley Steinert, Executive Chair of CarGurus, Inc., executed multiple sales of Class A Common Stock between March 28, 2025, and April 1, 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.
- The sales occurred on March 28, 2025, March 31, 2025, and April 1, 2025.
- The transactions were executed under a Rule 10b5-1 trading plan.
- On March 28, 2025, Steinert sold 19,163 shares at a weighted average price of $28.8689, 1,477 shares at $29.667, 2,127 shares at $28.8689 through an indirect trust, and 164 shares at $29.667 through an indirect trust.
- On March 31, 2025, Steinert sold 10,785 shares at a weighted average price of $28.6453, 9,855 shares at $29.2182, 1,196 shares at $28.6453 through an indirect trust, and 1,095 shares at $29.2182 through an indirect trust.
- On April 1, 2025, Steinert sold 4,108 shares at a weighted average price of $29.0784 and 482 shares at $29.0784 through an indirect trust.
- Following these transactions, Steinert directly owns 969,179 shares of Class A Common Stock and indirectly owns 51,369 shares through a family trust.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports transactions under a pre-existing trading plan. There is no indication of positive or negative implications for the company.
Industry Context
Executive share sales are a common occurrence and are often related to personal financial planning. The use of a 10b5-1 trading plan allows insiders to sell shares over a predetermined period, mitigating concerns about insider trading.
Stakeholder Impact
- The share sales could have a minor impact on shareholders due to the increased supply of shares in the market, but the impact is likely to be minimal given the pre-planned nature of the sales.
Key Dates
| Date | Description |
|---|---|
| 06/21/2004 | Date of The Langley Steinert Irrevocable Family Trust |
| 03/28/2025 | Date of first reported transaction |
| 03/31/2025 | Date of a reported transaction |
| 04/01/2025 | Date of last reported transaction and filing date |
Keywords
CarGurus, Langley Steinert, Class A Common Stock, Form 4, SEC, 10b5-1 trading plan, Executive Chair, Share Sale
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