Form 4: CarGurus Executive Quinn Matthew Todd Reports Stock Transactions

Chief Technology Officer of CarGurus, Matthew Todd Quinn, reports the disposal and acquisition of Class A Common Stock on January 2nd and 3rd, 2025.

Summary

• Matthew Todd Quinn, Chief Technology Officer of CarGurus, Inc., filed a Form 4 detailing changes in beneficial ownership.
• On January 2, 2025, 5,223 shares of Class A Common Stock were withheld for payment of tax liability at a price of $35.73.
• On January 3, 2025, 4,678 shares of Class A Common Stock were sold at a price of $35.78.
• Following these transactions, Quinn directly owns 195,795 shares of Class A Common Stock.
• The sale on January 3, 2025, was executed under a pre-arranged Rule 10b5-1 trading plan.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing stock transactions, which carries a neutral sentiment.

Industry Context

Executive stock transactions are a normal part of corporate governance and are publicly disclosed to ensure transparency. The use of a 10b5-1 trading plan suggests the sales were pre-planned and not based on insider information.

Comparison to Industry Standards

• Executive stock sales are common across publicly traded companies like CarGurus.
• Companies like Zillow, Autotrader, and Cars.com also have executives who periodically report stock transactions.
• The use of Rule 10b5-1 trading plans is a standard practice to avoid accusations of insider trading, similar to what executives at other tech companies such as Facebook (Meta) and Google (Alphabet) employ.

Stakeholder Impact

• The stock transactions may have a minor impact on shareholders due to the relatively small volume of shares involved.
• The transactions do not directly impact employees, customers, suppliers, or creditors.

Key Dates