CarGurus Files 8-K on Financials, Officer Changes
Ticker: CARG · Form: 8-K · Filed: Feb 26, 2024 · CIK: 1494259
| Field | Detail |
|---|---|
| Company | Cargurus, Inc. (CARG) |
| Form Type | 8-K |
| Filed Date | Feb 26, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001, $258,750 |
| Sentiment | neutral |
Sentiment: neutral
Topics: financial-condition, officer-changes, compensatory-arrangements
TL;DR
**CarGurus just dropped an 8-K covering financials and executive shake-ups, so keep an eye on their stock!**
AI Summary
CarGurus, Inc. filed an 8-K on February 26, 2024, reporting on its results of operations and financial condition. The filing also addressed the departure or election of directors or officers and compensatory arrangements for certain officers. This report was filed under the Securities Exchange Act of 1934, with the earliest event reported also on February 26, 2024.
Why It Matters
This filing provides investors with updated information on CarGurus' financial performance and any significant changes in its executive leadership or compensation structures, which can influence stock valuation and future strategic direction.
Risk Assessment
Risk Level: low — This is a routine 8-K filing reporting on standard business operations and personnel changes, not indicating immediate high risk.
Key Players & Entities
- CarGurus, Inc. (company) — Registrant
- February 26, 2024 (date) — Date of earliest event reported and filing date
- 001-38233 (other) — Commission File Number
- Delaware (other) — State of Incorporation
- 55 Cambridge Parkway, 6th Floor Cambridge, Massachusetts 02142 (other) — Principal Executive Offices
FAQ
What was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on February 26, 2024.
What specific items were reported in CarGurus, Inc.'s 8-K filing?
The 8-K filing reported on 'Results of Operations and Financial Condition', 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers', and 'Financial Statements and Exhibits'.
What is the Commission File Number for CarGurus, Inc.?
The Commission File Number for CarGurus, Inc. is 001-38233.
Where are CarGurus, Inc.'s principal executive offices located?
CarGurus, Inc.'s principal executive offices are located at 55 Cambridge Parkway, 6th Floor, Cambridge, Massachusetts 02142.
Under which act was this Form 8-K filed?
This Form 8-K was filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
Filing Stats: 789 words · 3 min read · ~3 pages · Grade level 10.9 · Accepted 2024-02-26 16:05:18
Key Financial Figures
- $0.001 — ered Class A Common Stock, par value $0.001 per share CARG The Nasdaq Stock Mar
- $258,750 — lump sum cash payment in the amount of $258,750, which is equal to nine months of Ms. E
Filing Documents
- carg-20240226.htm (8-K) — 48KB
- carg-ex99_1.htm (EX-99.1) — 1356KB
- img239243378_0.jpg (GRAPHIC) — 73KB
- 0000950170-24-020133.txt ( ) — 1675KB
- carg-20240226.xsd (EX-101.SCH) — 27KB
- carg-20240226_htm.xml (XML) — 5KB
02 Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition. On February 26, 2024, CarGurus, Inc. (the "Company") announced its financial results for the quarter and year ended December 31, 2023. The full text of the press release issued by the Company in connection with the announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The press release attached as Exhibit 99.1 hereto is being furnished pursuant to Item 2.02 of this Current Report on Form 8-K and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing. Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On January 12, 2024, the Company announced that, effective as of April 5, 2024 (the "Separation Date"), Andrea Eldridge will step down as the Chief People Officer. In connection with Ms. Eldridge's departure, on February 26, 2024, the Company and Ms. Eldridge entered into a separation agreement, pursuant to which, in exchange for granting and not revoking a customary release and in recognition of Ms. Eldridge's contributions to the Company, Ms. Eldridge will receive the following payments consisting of (a) a lump sum cash payment in the amount of $258,750, which is equal to nine months of Ms. Eldridge's current base salary (the "Severance Pay"); (b) continuation of certain subsidized medical and dental benefits until January 31, 2025; and (c) the acceleration of vesting of (x) 34,364 restricted stock units and (y) 6,161 shares subject to nonqualified stock options granted to Ms. Eldridge during her employment that would have vested during the nine month peri
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press Release of CarGurus, Inc., dated February 26, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. CARGURUS, INC. Date: February 26, 2024 By: /s/ Jason Trevisan Name: Jason Trevisan Title: Chief Executive Officer