CARG Form 144: 567 Class A Shares Sourced from Restricted Stock Vesting

Rhea-AI Filing Summary

Form 144 notice for CarGurus, Inc. (CARG) shows an intended sale of 567 Class A shares through Fidelity Brokerage Services with an aggregate market value of $21,375.90, scheduled approximately 10/02/2025 on NASDAQ. The 567 shares were acquired on 10/01/2025 via restricted stock vesting and were paid as compensation. The filer (person for whose account the sale is to be made) previously sold 9,998 Class A shares on 10/01/2025 generating $368,726.24. The form includes the standard representation that the seller does not possess undisclosed material information.

Positive

• Securities to be sold were acquired through restricted stock vesting, indicating the shares are compensation rather than a purchased holding
• Filing specifies broker, quantity, value, and planned date, providing transparency on the planned transaction

Negative

• Insider sale activity: the filer sold 9,998 Class A shares on 10/01/2025 for $368,726.24, indicating recent insider liquidity

Insights

Securities Analyst

TL;DR: Small, routine insider sale sourced from recent restricted stock vesting; immaterial to company valuation.

The filing documents a proposed sale of 567 Class A shares valued at $21,375.90, representing a de minimis fraction of the 85,043,939 shares outstanding. The shares were acquired through restricted stock vesting and paid as compensation, indicating this is an expected liquidity event for the recipient rather than a financing or related-party transfer. A prior sale of 9,998 shares on 10/01/2025 produced $368,726.24, which suggests the filer is liquidating vested holdings. Overall, market impact is likely negligible given the small size relative to total float.

Corporate Governance Expert

TL;DR: Disclosure meets Rule 144 requirements; includes seller attestation about no undisclosed material information.

The notice supplies required details: acquisition date, nature of acquisition (restricted stock vesting), payment characterization (compensation), broker identity, and proposed sale timing. The seller also provided the mandatory attestation regarding material nonpublic information and the signature notice. From a governance perspective, the filing is routine and compliant in form; it documents insider liquidity but does not signal governance concerns absent other disclosures.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Class A	Fidelity Brokerage Services LLC 900 Salem Street Smithfield RI 02917	567	21375.90	85043939	10/02/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Class A	10/01/2025	Restricted Stock Vesting	Issuer			567	10/01/2025	Compensation

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Jennifer Hanson 1001 Boylston Street 16th Floor Boston MA 02115	Class A	10/01/2025	9998	368726.24

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the Form 144 filed for CarGurus (CARG) report?

The form reports a proposed sale of 567 Class A shares via Fidelity with aggregate market value $21,375.90, approximately 10/02/2025 on NASDAQ.

How were the 567 Class A shares acquired?

The shares were acquired on 10/01/2025 through restricted stock vesting and the payment was characterized as compensation.

Has the filer sold any CarGurus shares recently?

Yes: the filer sold 9,998 Class A shares on 10/01/2025, generating $368,726.24 in gross proceeds.

Who is the broker handling the proposed sale?

Fidelity Brokerage Services LLC (900 Salem Street, Smithfield RI 02917) is listed as the broker for the proposed transaction.

Is there any statement about material nonpublic information in the filing?

Yes: the filer represents by signing the notice that they do not know any undisclosed material adverse information about the issuer.