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 April 24 and 25, 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 April 24 and April 25, 2025.
• The sales were executed under a Rule 10b5-1 trading plan.
• On April 24, 2025, Steinert sold 20,640 shares at a weighted average price of $28.1696, and an additional 2,291 shares were sold indirectly.
• On April 25, 2025, Steinert sold 20,640 shares at a weighted average price of $28.3281, and an additional 2,291 shares were sold indirectly.
• Following these transactions, Steinert directly owns 905,385 shares and indirectly owns 45,542 shares through The Langley Steinert Irrevocable Family Trust.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting insider trading activity. The sentiment is neutral as it simply reports facts without expressing any opinion or forward-looking statements.

Industry Context

Insider sales are a common occurrence, and the use of a 10b5-1 trading plan suggests 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 use of a 10b5-1 plan mitigates this concern.

Key Dates

Keywords

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