CarGurus, Inc. — Director's Dealing 2021

May 5, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CarGurus, Inc. (CARG)
CIK: 0001494259
Period of Report: 2021-05-04

Reporting Person: Fredo Scot Christopher (CFO and Treasurer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-05-04	Class A Common Stock	F	99	$23.71	Disposed	60591	Direct
2021-05-04	Class A Common Stock	M	224	—	Acquired	60815	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-05-04	Restricted Stock Units	$0	M	224	Disposed		Class B Common Stock (224)	Direct

Footnotes

F1: Shares withheld for payment of tax liability upon vesting of restricted stock units ("RSUs").

F2: Represents the conversion of Class B common stock into Class A common stock at the Reporting Person's election.

F3: Each share of Class B common stock is convertible into one share of Class A common stock at the option of the holder and has no expiration date.

F4: On May 4, 2017, the Reporting Person was granted 3,600 RSUs convertible into shares of Class B common stock. The RSUs are subject to a liquidity-based vesting requirement, which was satisfied in connection with the Issuer's initial public offering, and a service-based vesting requirement. Subject to the Reporting Person's continued employment, 25% of the RSUs vested on May 4, 2018 and 6.25% of the RSUs vested on the last day of each three-month period thereafter until May 4, 2021. Any vested RSUs will settle within 60 days of the date of vesting.