Dafna Sarnoff - Dec 1, 2022 Form 4 Insider Report for CarGurus, Inc. (CARG)

Signature
/s/ Josh Goldstein, as attorney-in-fact
Stock symbol
CARG
Transactions as of
Dec 1, 2022
Transactions value $
-$51,941
Form type
4
Date filed
12/2/2022, 05:03 PM
Previous filing
Dec 9, 2021
Next filing
Feb 17, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CARG Class A Common Stock Tax liability -$51.9K -3.97K -9.02% $13.08 40.1K Dec 1, 2022 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares withheld for payment of tax liability upon vesting of restricted stock units ("RSUs").
F2 The Reporting Person previously reported a prior award of performance-based RSUs in Table II of the Form 4 filed by the Reporting Person on December 9, 2021 (the "Prior Form 4"). These awards were amended by the Compensation Committee of the Issuer's Board of Directors on February 8, 2022 to revise the vesting terms thereunder from performance-based to time-based and therefore are being moved to Table I, consistent with prior grants of time-based RSUs by the Issuer to the Reporting Person. The total reported in Column 5 of this Form 4 includes the 14,682 time-based RSUs previously reported as performance-based RSUs in Table II of the Prior Form 4.
F3 Due to a 1000 character limit, Footnote 3 is a continuation of Footnote 2: Each such RSU represents a contingent right to receive one share of the Issuer's Class A Common Stock. Subject to the Reporting Person's continuous service as an employee of the Issuer, 25% of the RSUs will vest on December 1, 2022 and 6.25% of the RSUs will vest on the last day of each three-month period thereafter until December 1, 2025. Such vesting may be accelerated in connection with a Change of Control (as defined in the Issuer's Omnibus Incentive Compensation Plan).