CarGurus chair uses share withholding for taxes
CarGurus, Inc. Executive Chair Langley Steinert reported a routine tax-related share disposition.
Accepted by SEC EDGAR
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Form Type
4
Rhea-AI Filing Summary
CarGurus, Inc. Executive Chair Langley Steinert reported a routine tax-related share disposition. On shares of Class A Common Stock, 12,654 shares were withheld at $35.14 per share to cover tax obligations upon vesting of restricted stock units, rather than being sold on the open market. After this tax-withholding disposition, Steinert holds 897,136 shares directly and 75,000 shares are held indirectly by The Langley Steinert Irrevocable Family Trust, for which he disclaims beneficial ownership.
Insider Trade Summary
Exercise Price or Tax Liability: 12,654 shares
Exercise Price or Tax Liability
1 txn
Insider
Steinert Langley
Role
Executive Chair
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise Price or Tax Liability | Class A Common Stock | 12,654 | $35.14 | $445K |
| Holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Class A Common Stock — 897,136 shares (Direct);
Class A Common Stock — 75,000 shares (Indirect, See Footnote)
Footnotes (2)
- F1. Shares withheld for payment of tax liability upon vesting of restricted stock units.
- F2. 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
Shares withheld for taxes: 12,654 shares
Withholding price: $35.14 per share
Direct holdings after transaction: 897,136 shares
+1 more
4 metrics
Shares withheld for taxes
12,654 shares
Tax-withholding disposition on Class A Common Stock
Withholding price
$35.14 per share
Price used for RSU tax-withholding shares
Direct holdings after transaction
897,136 shares
Class A Common Stock held directly by Steinert
Indirect trust holdings
75,000 shares
Held by Langley Steinert Irrevocable Family Trust; beneficial ownership disclaimed
Key Terms
restricted stock units, tax-withholding disposition, Irrevocable Family Trust, beneficial ownership
4 terms
restricted stock units financial
"Shares withheld for payment of tax liability upon vesting of restricted stock units."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
tax-withholding disposition financial
"transaction_action": "tax-withholding disposition""
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
Irrevocable Family Trust financial
"The Langley Steinert Irrevocable Family Trust dated June 21, 2004"
beneficial ownership financial
"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 insider transaction did CarGurus (CARG) report for Langley Steinert?
CarGurus reported a tax-related share disposition for Executive Chair Langley Steinert. 12,654 Class A Common shares were withheld to satisfy tax obligations from vesting restricted stock units, rather than sold in the market, reflecting a routine compensation-related event.
What are Langley Steinert’s direct CarGurus (CARG) holdings after this filing?
After the tax-withholding transaction, Langley Steinert directly holds 897,136 shares of CarGurus Class A Common Stock. This figure reflects his direct ownership position following the share withholding for tax obligations tied to restricted stock unit vesting.
What indirect CarGurus (CARG) holdings are linked to Langley Steinert?
An additional 75,000 CarGurus shares are held by The Langley Steinert Irrevocable Family Trust. The trust’s beneficiaries are Steinert’s children, and he may be deemed to have indirect ownership but expressly disclaims beneficial ownership of these shares in the filing.
Was this CarGurus (CARG) insider transaction an open-market sale?
No, the filing describes a tax-withholding disposition, not an open-market sale. Shares were withheld by the issuer to pay Steinert’s tax liability on vesting restricted stock units, which is a common administrative step in equity compensation.
AI-generated analysis. How Rhea-AI works. Not financial advice.
