Form 4: CarGurus Executive Matthew Todd Quinn Reports Stock Transactions

Matthew Todd Quinn, Chief Technology Officer of CarGurus, Inc., reported the disposition of Class A Common Stock to cover tax liabilities and sales under a Rule 10b5-1 trading plan.

Summary

• On October 1, 2024, Matthew Todd Quinn, the Chief Technology Officer of CarGurus, Inc., had 8,183 Class A Common Stock shares withheld for payment of tax liability at a price of $29.65.
• Following this transaction, Quinn directly owned 209,191 shares of Class A Common Stock.
• On October 2, 2024, Quinn sold 3,495 shares of Class A Common Stock at a price of $29.43 per share.
• This sale was executed under a pre-arranged Rule 10b5-1 trading plan.
• After the sale, Quinn directly owned 205,696 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing simply reports stock transactions by an executive, which is a routine occurrence. The use of a 10b5-1 plan suggests pre-planned transactions.

Industry Context

Form 4 filings are standard practice and provide transparency into the trading activities of company insiders. The use of a 10b5-1 trading plan is a common method for insiders to sell shares while avoiding accusations of trading on non-public information.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the increased transparency of insider trading activities.

Key Dates