Matthew Todd Quinn - Jan 3, 2023 Form 4 Insider Report for CarGurus, Inc. (CARG)

Signature
/s/ Javier Zamora, as attorney-in-fact
Stock symbol
CARG
Transactions as of
Jan 3, 2023
Transactions value $
-$52,019
Form type
4
Date filed
1/5/2023, 03:44 PM
Previous filing
Jan 5, 2022
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 -$52K -3.71K -8.66% $14.01 39.1K Jan 3, 2023 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 January 5, 2022 (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 14,285 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 January 1, 2023 and 6.25% of the RSUs will vest on the last day of each three-month period thereafter until January 1, 2026. Such vesting may be accelerated in connection with a Change of Control (as defined in the Issuer's Omnibus Incentive Compensation Plan).

Remarks:

Exhibit 24.1 - Power of Attorney