CARG Form 144: 6.1k insider shares flagged for potential sale

Rhea-AI Filing Summary

CarGurus, Inc. (CARG) – Form 144 filing dated 07/10/2025

The notice discloses that Javier Zamora, an affiliate of the company, plans to sell 6,154 Class A shares through Fidelity Brokerage Services on or about 10 July 2025. The proposed sale is valued at $215,390, based on the market price at the time of filing. CarGurus has 84.63 million Class A shares outstanding, so the sale represents roughly 0.007% of the float.

The shares were acquired via restricted-stock vesting on 04/01/2025 (2,088 shares), 05/01/2025 (2,746 shares) and 07/01/2025 (1,320 shares) as compensation. Over the past three months Zamora has already sold 13,585 shares for $428,313 in gross proceeds (transactions on 06/04/2025 and 06/10/2025).

This Form 144 is a routine disclosure that signals potential insider selling but does not oblige the filer to complete the sale. Given the small size relative to market capitalization, the transaction is unlikely to be materially impactful to CarGurus’ share price, yet it provides investors with transparency into insider trading intentions.

Positive

• None.

Negative

• Insider intends to sell shares, which some investors may interpret as a lack of confidence, even though the amount is immaterial.

Insights

Securities Analyst

TL;DR: Minor insider sale (0.007% of float); unlikely to move CARG shares.

The filing merely notifies the market that an insider intends to sell 6,154 shares worth about $215k. With 84.6 m shares outstanding, dilution or supply pressure is negligible. The seller previously liquidated 13,585 shares in June, totalling $428k, so this continues a modest diversification pattern. No operational or financial data accompany the notice, and the sale stems from routine equity compensation vesting—a common practice among executives. I view the disclosure as neutral for valuation and liquidity.

Corporate Governance Expert

TL;DR: Standard Form 144 filing; governance transparency maintained.

The filer certifies no undisclosed adverse information, satisfying Rule 144 and 10b5-1 safeguards. The presence of a broker (Fidelity) and the modest transaction size show adherence to best practices. Insider selling can raise perception issues, but the amount is immaterial and tied to compensation vesting, not a strategic shift. Overall governance signals remain intact.

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	6154	215390.00	84630375	07/10/2025	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	04/01/2025	Restricted Stock Vesting	Issuer			2088	04/01/2025	Compensation
Class A	05/01/2025	Restricted Stock Vesting	Issuer			2746	05/01/2025	Compensation
Class A	07/01/2025	Restricted Stock Vesting	Issuer			1320	07/01/2025	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
Javier Zamora 1001 Boylston Street 16th Floor Boston MA 02115	Class A	06/04/2025	12265	384753.05
Javier Zamora 1001 Boylston Street 16th Floor Boston MA 02115	Class A	06/10/2025	1320	43560.00

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

How many CarGurus (CARG) shares are proposed for sale in this Form 144?

The filing covers 6,154 Class A shares valued at approximately $215,390.

What percentage of CarGurus’ outstanding shares does the sale represent?

The proposed sale equals about 0.007% of the 84.63 million shares outstanding.

When were the shares acquired by the insider?

They vested as restricted-stock awards on 04/01/2025, 05/01/2025, and 07/01/2025.

Has the insider sold CarGurus stock recently?

Yes. The same insider sold 13,585 shares in June 2025 for $428,313 in gross proceeds.

Does a Form 144 filing guarantee the shares will be sold?

No. It merely provides notice of intent; the filer is not obligated to complete the sale.