TrueCar CEO J. Reigersman Withholds 29,493 TRUE Shares to Cover Taxes

Rhea-AI Filing Summary

TrueCar, Inc. reporting person Jantoon Reigersman, who serves as President, CEO and a director, reported a disposition of 29,493 shares of TrueCar common stock on 09/15/2025 at a price of $2.43 per share. The filing states the shares were withheld to satisfy tax liabilities arising from the vesting of restricted stock units. After the transaction the reporting person beneficially owns 1,777,779 shares, held directly. The Form 4 was signed by a power of attorney on 09/16/2025.

Positive

• Transaction was a tax-withholding for RSU vesting, indicating routine compensation settlement rather than market sale.
• Reporting person retains substantial direct ownership of 1,777,779 shares after the transaction, maintaining alignment with shareholders.
• Reporting person holds executive and director roles (President and CEO), ensuring continued insider oversight.

Negative

• Reported disposition reduced direct holdings by 29,493 shares, lowering the reporting person’s share count.

Insights

Financial Analyst

TL;DR: Routine tax-withholding disposition by an insider; ownership remains substantial and transaction is non-dispositive for governance control.

The 29,493-share disposition at $2.43 appears to be a tax-withholding event tied to RSU vesting rather than an open-market sell for liquidity. Such transactions commonly reduce share count slightly while preserving executive ownership alignment. Post-transaction direct ownership of 1,777,779 shares indicates continued meaningful stake. No other compensatory or market-timing details are provided, limiting further market-impact assessment.

Corporate Governance Expert

TL;DR: Insider maintained director/CEO roles and retained a significant direct holding; the Form 4 documents standard tax-related withholding.

The filing confirms the reporting person’s roles as President, CEO and director and documents a withholding to cover taxes on vested RSUs, a routine governance/compensation action. The Form 4 was executed via power of attorney, which is standard practice. There is no indication of additional governance changes, option exercises for cash, or unusual timing in the disclosed data.

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

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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^*

Reigersman Jantoon

(Last) (First) (Middle)

C/O TRUECAR, INC.

225 SANTA MONICA BLVD, 12TH FLOOR

(Street)

SANTA MONICA CA 90401

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
TrueCar, Inc. [ TRUE ]

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

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2025

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
Common Stock	09/15/2025		F		29,493(1)	D	$2.43	1,777,779	D

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. The reported securities were withheld to satisfy the Reporting Person's tax liability in connection with the vesting of restricted stock units.

Remarks:

Ex. 24 - Power of Attorney

	/s/ Tobin Watkinson, by Power of Attorney	09/16/2025
	** 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

What did TRUE insider Jantoon Reigersman report on Form 4?

The Form 4 reports a disposition of 29,493 TrueCar shares on 09/15/2025 at $2.43 per share, withheld to satisfy taxes from RSU vesting.

How many TrueCar shares does the reporting person own after the transaction?

After the reported transaction the reporting person beneficially owns 1,777,779 shares, held directly.

Why were the shares disposed of according to the filing?

The filing states the shares were withheld to satisfy the reporting person’s tax liability in connection with RSU vesting.

What positions does the reporting person hold at TrueCar (TRUE)?

The filing lists the reporting person as a Director and as an Officer with the title President and CEO.

When was the Form 4 signed and by whom?

The Form 4 shows a signature by Tobin Watkinson acting by power of attorney, dated 09/16/2025.