What portion of Jennifer Ladd Hanson’s CarGurus (CARG) transactions were tax-related?

Of the reported activity, 1,192 shares of CarGurus Class A Common Stock were withheld to satisfy tax liabilities upon vesting of restricted stock units. This tax-withholding disposition is not an open-market sale and is a routine mechanism for covering tax obligations.

CarGurus (CARG) Chief People Officer sells shares, 1,192 withheld for taxes

Filing Impact

(Moderate)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

CarGurus, Inc. Chief People Officer Jennifer Ladd Hanson reported an open-market sale of 2,499 shares of Class A Common Stock at $35.61 per share. This transaction was executed under a pre-arranged Rule 10b5-1 trading plan adopted by the reporting person.

In a separate transaction, 1,192 shares were withheld at $33.55 per share to cover tax liabilities upon vesting of restricted stock units, which is a non-market, tax-related disposition. After these transactions, Hanson directly holds 96,999 shares of Class A Common Stock.

Insider Trade Summary 10b5-1

Net Seller: 2,499 shares ($88,989)

Net Sell 2 txns

Insider Hanson Jennifer Ladd

Role Chief People Officer

Sold 2,499 shs ($89K)

Type	Security	Shares	Price	Value
Tax Withholding	Class A Common Stock	1,192	$33.55	$40K
Sale	Class A Common Stock	2,499	$35.61	$89K

Holdings After Transaction: Class A Common Stock — 96,999 shares (Direct)

Footnotes (1)

This sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person. Shares withheld for payment of tax liability upon vesting of restricted stock units.

Key Figures

Open-market shares sold: 2,499 shares Sale price: $35.61 per share Tax-withheld shares: 1,192 shares +2 more

5 metrics

Open-market shares sold 2,499 shares Class A Common Stock sold at $35.61 per share on 2026-03-31

Sale price $35.61 per share Open-market sale of 2,499 shares of Class A Common Stock

Tax-withheld shares 1,192 shares Shares withheld at $33.55 per share for RSU tax liability

Tax-withholding price $33.55 per share Value used for 1,192 shares withheld for taxes

Shares held after sale 96,999 shares Directly held Class A Common Stock following reported transactions

Key Terms

Rule 10b5-1 trading plan, restricted stock units, tax-withholding disposition, open-market sale, +1 more

5 terms

Rule 10b5-1 trading plan regulatory

"This sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person."

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

restricted stock units financial

"Shares withheld for payment of tax liability upon vesting of restricted stock units."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

tax-withholding disposition financial

"transaction_action: tax-withholding disposition"

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

open-market sale financial

"transaction_action: open-market sale"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Class A Common Stock financial

"security_title: Class A Common Stock"

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

Form 4 Insider Transactions: What Each Field Means →

04/02/2026 - 05:38 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Hanson Jennifer Ladd

(Last)

(First)

(Middle)

1001 BOYLSTON STREET, 16TH FLOOR

(Street)

BOSTON

MASSACHUSETTS

02115

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
CarGurus, Inc. [ CARG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief People Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/31/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	03/31/2026		S⁽¹⁾		2,499	D	$35.61	98,191	D
Class A Common Stock	04/01/2026		F⁽²⁾		1,192	D	$33.55	96,999	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. This sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person.

2. Shares withheld for payment of tax liability upon vesting of restricted stock units.

	/s/ Ariel Borgendale, as attorney-in-fact	04/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did CarGurus (CARG) report for Jennifer Ladd Hanson?

CarGurus reported that Chief People Officer Jennifer Ladd Hanson sold 2,499 shares of Class A Common Stock at $35.61 per share and had 1,192 shares withheld to cover taxes on restricted stock unit vesting, leaving her with 96,999 directly held shares.

Was the CarGurus (CARG) insider sale made under a Rule 10b5-1 plan?

Yes. The open-market sale of 2,499 CarGurus shares by Chief People Officer Jennifer Ladd Hanson was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person, indicating the sale was pre-arranged rather than opportunistic.

How many CarGurus (CARG) shares does Jennifer Ladd Hanson hold after the Form 4 transactions?

After the reported transactions, Chief People Officer Jennifer Ladd Hanson directly holds 96,999 shares of CarGurus Class A Common Stock. This figure reflects both the 2,499-share open-market sale and the 1,192 shares withheld for tax obligations related to restricted stock unit vesting.

What prices were involved in Jennifer Ladd Hanson’s CarGurus (CARG) Form 4 transactions?

The open-market sale of 2,499 CarGurus shares occurred at $35.61 per share. Separately, 1,192 shares were withheld at $33.55 per share to pay taxes upon restricted stock unit vesting, reflecting different prices for the sale and the tax-withholding events.