Form 4: CarGurus Executive Chair Reports Tax-Related Stock Disposition

Langley Steinert, Executive Chair of CarGurus, reported a tax-related disposition of 12,361 Class A Common Stock shares at $37.55 per share following restricted stock unit vesting.

Summary

• Langley Steinert, Executive Chair, Director, and 10% Owner of CarGurus, Inc. [CARG], reported a transaction on October 1, 2025.
• The transaction involved the disposition of 12,361 shares of Class A Common Stock.
• The shares were disposed of at a price of $37.55 per share.
• This disposition was coded as 'F', indicating shares withheld for payment of tax liability upon the vesting of restricted stock units.
• Following this transaction, Mr. Steinert directly beneficially owns 470,874 shares of Class A Common Stock.
• Additional Class A Common Stock is indirectly owned by The Langley Steinert Irrevocable Family Trust, though Mr. Steinert expressly disclaims beneficial ownership of these shares.

Sentiment

Score: 5

Explanation: The transaction is a routine, non-discretionary disposition of shares for tax purposes upon RSU vesting, which is a neutral event from an investment sentiment perspective.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

This is a routine insider transaction related to executive compensation and tax obligations, which is common across all industries for publicly traded companies with RSU programs. It does not reflect broader industry trends or competitive positioning.

Related Party Transactions

• Class A Common Stock is indirectly owned by The Langley Steinert Irrevocable Family Trust, of which the Reporting Person's children are beneficiaries. The Reporting Person expressly disclaims beneficial ownership of these shares.

Stakeholder Impact

• Shareholders: Minimal impact as this is a routine, non-discretionary transaction related to executive compensation and tax obligations, not a discretionary sale or change in company fundamentals.

Key Dates

Recommendation

This Form 4 reports a routine, non-discretionary disposition of shares to cover tax obligations upon RSU vesting. It does not reflect a change in investment sentiment or operational performance, thus maintaining a 'hold' recommendation as there is no new information to alter the investment thesis.

Keywords

CarGurus, CARG, Form 4, insider transaction, stock disposition, restricted stock units, RSU vesting, Langley Steinert, executive compensation