Jason Trevisan - Feb 16, 2023 Form 4 Insider Report for CarGurus, Inc. (CARG)

Role: Chief Executive Officer, Director
Signature: /s/ Javier Zamora, as attorney-in-fact
Stock symbol: CARG
Transactions as of: Feb 16, 2023
Transactions value $: $0
Form type: 4
Date filed: 2/17/2023, 03:06 PM
Previous filing: Jan 5, 2023
Next filing: Apr 3, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CARG	Class A Common Stock	Award	$0	+153K	+29.2%	$0.00	679K	Feb 16, 2023	Direct	F1
holding	CARG	Class A Common Stock						29.3K	Feb 16, 2023	See Footnote
holding	CARG	Class A Common Stock						50.7K	Feb 16, 2023	See Footnote	F2

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

Explanation of Responses:

Id	Content
F1	Represents shares issuable upon settlement of restricted stock units ("RSUs") granted to the Reporting Person. Each 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, 12.50% of the RSUs will vest on April 1, 2023 and 12.50% of the RSUs will vest 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).
F2	These shares are held directly by the Trevisan 2021 Grantor Retained Annuity Trust dated March 12, 2021 (the "GRAT"), of which the Reporting Person is trustee. The Reporting Person's children are the beneficiaries of the GRAT.

Content

Represents shares issuable upon settlement of restricted stock units ("RSUs") granted to the Reporting Person. Each 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, 12.50% of the RSUs will vest on April 1, 2023 and 12.50% of the RSUs will vest 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).

These shares are held directly by the Trevisan 2021 Grantor Retained Annuity Trust dated March 12, 2021 (the "GRAT"), of which the Reporting Person is trustee. The Reporting Person's children are the beneficiaries of the GRAT.