CARG Form 4: Director owns 470,874 shares after tax-withheld sale

Rhea-AI Filing Summary

Steinert Langley, who serves as Executive Chair, a Director and a 10% owner of CarGurus, Inc. (CARG), reported a transaction dated 10/01/2025. The filing shows 12,361 shares of Class A common stock were disposed of at a price of $37.55; the form explains these shares were withheld to cover tax withholding on vested restricted stock units. After the transaction, the reporting person beneficially owned 470,874 shares of Class A common stock directly. The filing also discloses indirect ownership of additional shares held by The Langley Steinert Irrevocable Family Trust dated June 21, 2004, of which the reporting person disclaims beneficial ownership. The form is signed by an attorney-in-fact on 10/02/2025.

Positive

• Reporting person retains a sizable direct stake: 470,874 Class A shares remain beneficially owned after the transaction
• Disposition was for tax withholding on vested RSUs, a standard, non-trading disposition method

Negative

• 12,361 Class A shares were disposed at $37.55 on 10/01/2025, reducing the reporting person's direct holdings

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Steinert Langley

Role Executive Chair

Type	Security	Shares	Price	Value
Tax Withholding	Class A Common Stock	12,361	$37.55	$464K
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Class A Common Stock — 470,874 shares (Direct); Class A Common Stock — 2 shares (Indirect, See Footnote)

Footnotes (1)

1. Shares withheld for payment of tax liability upon vesting of restricted stock units. These shares are owned directly by The Langley Steinert Irrevocable Family Trust dated June 21, 2004, of which the Reporting Person's children are the beneficiaries. The Reporting Person may be deemed to have indirect ownership over such shares, but expressly disclaims beneficial ownership of such shares.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Steinert Langley

(Last) (First) (Middle)

1001 BOYLSTON STREET

16TH FLOOR

(Street)

BOSTON MA 02115

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CarGurus, Inc. [ CARG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Executive Chair

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	10/01/2025		F(1)		12,361	D	$37.55	470,874	D
Class A Common Stock								2	I	See Footnote(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Shares withheld for payment of tax liability upon vesting of restricted stock units.

2. These shares are owned directly by The Langley Steinert Irrevocable Family Trust dated June 21, 2004, of which the Reporting Person's children are the beneficiaries. The Reporting Person may be deemed to have indirect ownership over such shares, but expressly disclaims beneficial ownership of such shares.

	/s/ Suzanne Murray, as attorney-in-fact	10/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

Who filed the Form 4 for CarGurus (CARG)?

The Form 4 was filed by Steinert Langley, identified as Executive Chair, a Director and a 10% owner.

What transaction was reported on the Form 4 dated 10/01/2025 for CARG?

The filing reports the disposition of 12,361 shares of Class A common stock at $37.55 on 10/01/2025.

Why were the 12,361 shares disposed of according to the filing?

The filing states those shares were withheld to pay tax liability upon vesting of restricted stock units.

How many Class A shares does the reporting person own after the transaction?

After the reported transaction the reporting person beneficially owns 470,874 Class A shares directly.

Does the filing disclose any indirect ownership?

Yes. The filing discloses indirect ownership of additional shares held by The Langley Steinert Irrevocable Family Trust dated June 21, 2004, which the reporting person expressly disclaims beneficial ownership of.