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

Role: COO and President
Signature: /s/ Josh Goldstein, as attorney-in-fact
Issuer symbol: CARG
Transactions as of: 25 Feb 2022
Net transactions value: -$109,572
Form type: 4
Filing time: 01 Mar 2022, 16:52:42 UTC
Previous filing: 16 Feb 2022
Next filing: 18 Mar 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CARG	Class A Common Stock	Options Exercise	$415,533	+11,669	+2.8%	$35.61	425,888	25 Feb 2022	Direct	F1
transaction	CARG	Class A Common Stock	Sale	$525,105	-11,669	-2.7%	$45.00	414,219	25 Feb 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	-11,669	-7.4%	$0.000000	146,041	25 Feb 2022	Class A Common Stock	11,669	$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).