CarGurus Executive Chair Steinert sells 2,577 shares

The reported weighted-average prices cover multiple transactions; the footnotes give separate transaction-price ranges for the two groups of sales.

Available on EDGAR 11/06/2026 - 04:14 PM EST Accepted by SEC EDGAR 11/06/2026 - 04:10 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

On November 4, 2026, CarGurus, Inc. (CARG) Executive Chair Langley Steinert reported sales of Class A common stock under a Rule 10b5-1 trading plan. Direct sales were 2,000 shares at a $37.4003 weighted-average price and 577 shares at $38.1053. Separately, The Langley Steinert Irrevocable Family Trust dated June 21, 2004, owned 224 shares sold at $37.4003 and 65 at $38.1053; Steinert disclaims beneficial ownership of those trust shares. Each reported price is a weighted average across multiple transactions.

Insider Trade Summary 10b5-1

Net Seller: 2,866 shares

Net Sell 4 txns

Insider Steinert Langley

Role Executive Chair

Sold 2,866 shs ($108K)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock F1, F2	2,000	$37.4003	$75K
Sale	Class A Common Stock F1, F3	577	$38.1053	$22K
Sale	Class A Common Stock F1, F2, F4	224	$37.4003	$8K
Sale	Class A Common Stock F1, F3, F4	65	$38.1053	$2K

Holdings After Transaction: Class A Common Stock — 881,906 shares (Direct); Class A Common Stock — 74,711 shares (Indirect, See Footnote)

Footnotes (4)

1. F1. This sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person.
2. F2. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $37.00 to $37.9999 per share, inclusive. Information regarding the number of shares sold at each separate price will be made available from the Reporting Person upon request by the staff of the U.S. Securities and Exchange Commission, the Issuer or any security holder of the Issuer.
3. F3. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $38.00 to $38.2096 per share, inclusive. Information regarding the number of shares sold at each separate price will be made available from the Reporting Person upon request by the staff of the U.S. Securities and Exchange Commission, the Issuer or any security holder of the Issuer.
4. F4. 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.

Key Figures

Reported sales: 2,866 shares Direct sale tranche: 2,000 shares Weighted-average price: $37.4003 per share +4 more

7 metrics

Reported sales 2,866 shares Class A common stock sales reported for November 4, 2026

Direct sale tranche 2,000 shares Reported for November 4, 2026

Weighted-average price $37.4003 per share Direct 2,000-share tranche; individual transaction prices ranged from $37.00 to $37.9999

Direct sale tranche 577 shares Reported for November 4, 2026

Weighted-average price $38.1053 per share Direct 577-share tranche; individual transaction prices ranged from $38.00 to $38.2096

Trust-held sale tranche 224 shares Owned by The Langley Steinert Irrevocable Family Trust dated June 21, 2004; reported for November 4, 2026

Trust-held sale tranche 65 shares Owned by The Langley Steinert Irrevocable Family Trust dated June 21, 2004; reported for November 4, 2026

Key Terms

Rule 10b5-1 trading plan, weighted average price, indirect ownership, beneficial ownership

4 terms

Rule 10b5-1 trading plan regulatory

"effected pursuant to a Rule 10b5-1 trading plan"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

weighted average price financial

"The reported price in Column 4 is a weighted average price"

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

indirect ownership technical

"may be deemed to have indirect ownership over such shares"

beneficial ownership technical

"expressly disclaims beneficial ownership of such shares"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What CARG share sales were reported for Langley Steinert on November 4, 2026?

The report lists sales totaling 2,866 Class A shares under a Rule 10b5-1 trading plan. Directly held shares were sold in tranches of 2,000 at a $37.4003 weighted-average price and 577 at $38.1053. The Langley Steinert Irrevocable Family Trust dated June 21, 2004, owned two additional tranches of 224 and 65 shares.

What price ranges were reported for the CARG share sales?

For the 2,000 directly held shares and 224 trust-held shares, the weighted-average price was $37.4003, with individual transaction prices from $37.00 to $37.9999. For the 577 directly held shares and 65 trust-held shares, the weighted-average price was $38.1053, with individual transaction prices from $38.00 to $38.2096.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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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).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Steinert Langley

(Last) (First) (Middle)

1001 BOYLSTON STREET

16TH FLOOR

(Street)

BOSTON MASSACHUSETTS 02115

(City) (State) (Zip)

UNITED STATES

(Country)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
11/04/2026

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

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

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

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	11/04/2026		S(1)		2,000	D	$37.4003(2)	882,483	D
Class A Common Stock	11/04/2026		S(1)		577	D	$38.1053(3)	881,906	D
Class A Common Stock	11/04/2026		S(1)		224	D	$37.4003(2)	74,776	I	See Footnote(4)
Class A Common Stock	11/04/2026		S(1)		65	D	$38.1053(3)	74,711	I	See Footnote(4)

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. This sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person.

2. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $37.00 to $37.9999 per share, inclusive. Information regarding the number of shares sold at each separate price will be made available from the Reporting Person upon request by the staff of the U.S. Securities and Exchange Commission, the Issuer or any security holder of the Issuer.

3. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $38.00 to $38.2096 per share, inclusive. Information regarding the number of shares sold at each separate price will be made available from the Reporting Person upon request by the staff of the U.S. Securities and Exchange Commission, the Issuer or any security holder of the Issuer.

4. 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	11/06/2026
	** 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.
* Form 4: SEC 1474 (03-26)