Samuel Zales - Feb 25, 2022 Form 4 Insider Report for CarGurus, Inc. (CARG)

Role: COO and President
Signature: /s/ Josh Goldstein, as attorney-in-fact
Stock symbol: CARG
Transactions as of: Feb 25, 2022
Transactions value $: -$109,572
Form type: 4
Date filed: 3/1/2022, 04:52 PM
Previous filing: Feb 16, 2022
Next filing: Mar 18, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CARG	Class A Common Stock	Options Exercise	$416K	+11.7K	+2.82%	$35.61	426K	Feb 25, 2022	Direct	F1
transaction	CARG	Class A Common Stock	Sale	-$525K	-11.7K	-2.74%	$45.00	414K	Feb 25, 2022	Direct	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	CARG	Stock Option	Options Exercise	$0	-11.7K	-7.4%	$0.00	146K	Feb 25, 2022	Class A Common Stock	11.7K	$35.61	Direct	F1, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	This stock option exercise was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person.
F2	This sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person.
F3	Subject to the Reporting Person's continuous service as an employee of the Issuer, 6.25% of the shares underlying the stock option vested and became exercisable on April 1, 2021 and 6.25% of the shares underlying the stock option will vest and become exercisable (or have vested and became exercisable, as applicable) on the last day of each three-month period thereafter until January 1, 2025. Such vesting may be accelerated in connection with a Change of Control (as defined in the Issuer's Omnibus Incentive Compensation Plan).