v3.24.3
Insider Trading Arrangements
3 Months Ended
Sep. 30, 2024
shares
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement

Rule 10b5-1 Plan Trading Arrangements

During the three months ended September 30, 2024, the following officer adopted a “Rule 10b5-1 trading arrangement” (as defined in Item 408 of Regulation S-K) that is intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act and our policies on insider trading:

 

 

 

Name & Title

 

Date Adopted

Aggregate Number of Shares of Class A Common Stock to be Purchased or Sold Pursuant to Trading Arrangement

 

Expiration Date

Zachary Hallowell,

Chief Executive Officer, CarOffer

August 16, 2024

Up to 78,915 shares to be sold(1)

August 15, 2025(2)

 

 

 

 

 

 

 

Langley Steinert,

Executive Chair and Chair of the Board of Directors(3)

 

September 12, 2024

 

1,782,923 shares to be sold(3)

 

June 18, 2025(4)

 

Samuel Zales,

President and Chief Operating Officer

 

September 13, 2024

 

Up to 264,374 shares to be sold(5)

 

December 31, 2025(2)

 

(1) The Rule 10b5-1 trading arrangement includes the sale of shares to be received upon future vesting of certain outstanding equity awards, net of any shares withheld by us to satisfy applicable taxes. The number of shares to be withheld, and thus the exact number of shares to be sold pursuant to Mr. Hallowell’s Rule 10b5-1 trading arrangement, can only be determined upon the occurrence of the future vesting events. For purposes of this disclosure, we have reported the gross number of shares to be received upon the future vesting of such equity awards, before subtracting any shares to be withheld by us to satisfy applicable taxes in connection with such future vesting events. Furthermore, the Rule 10b5-1 trading arrangement provides for the sale of 7,148 shares directly held by Mr. Hallowell and the sale of up to 50% of the net shares that vest on certain applicable vesting dates, up to 71,767 shares.

 

(2) The Rule 10b5-1 trading arrangement permits transactions through and including the earlier to occur of (a) the completion of all sales or (b) the date listed in the table. The arrangement also provides for automatic expiration in the event of liquidation, dissolution, bankruptcy, insolvency, or death of the adopting person.

 

(3) The Rule 10b5-1 trading arrangement was entered into among Hilary and Langley Steinert, acting jointly; Langley Steinert Irrevocable Family Trust dated June 21, 2024, or the Steinert Trust; and Comet Foundation, which we collectively refer to as the Steinert Sellers. Of the 1,782,923 shares to be sold pursuant to this Rule 10b5-1 trading arrangement, Hilary and Langley Steinert, acting jointly, contributed 1,386,889 shares, the Steinert Trust contributed 154,099 shares, and the Comet Foundation contributed 241,935 shares.

 

(4) The Rule 10b5-1 trading arrangement permits transactions through June 18, 2025, subject to early termination for certain specified events set forth in the Rule 10b5-1 trading arrangement, or earlier if all transactions under the Rule 10b5-1 trading arrangement are completed.

 

(5) The Rule 10b5-1 trading arrangement includes the sale of 120,000 shares directly held by Mr. Zales and an aggregate of 19,714 shares underlying vested and unvested stock options, plus additional shares that remain unsold under Mr. Zales’ existing Rule 10b5-1 trading arrangement up to 124,660 shares.

Other than those disclosed above, none of our directors or officers adopted, modified, or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” in each case as defined in Item 408 of Regulation S-K.

Other Directors and Officers  
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
Rule 10b 51 Arr Modified Flag false
Non Rule 10b 51 Arr Modified Flag false
Zachary Hallowell  
Trading Arrangements, by Individual  
Name Zachary Hallowell
Title Chief Executive Officer, CarOffer
Rule 10b5-1 Arrangement Adopted true
Adoption Date August 16, 2024
Expiration Date August 15, 2025
Arrangement Duration 365 days
Aggregate Available 78,915
Langley Steinert  
Trading Arrangements, by Individual  
Name Langley Steinert
Title Executive Chair and Chair of the Board of Directors
Rule 10b5-1 Arrangement Adopted true
Adoption Date September 12, 2024
Expiration Date June 18, 2025
Arrangement Duration 280 days
Aggregate Available 1,782,923
Samuel Zales  
Trading Arrangements, by Individual  
Name Samuel Zales
Title President and Chief Operating Officer
Rule 10b5-1 Arrangement Adopted true
Adoption Date September 13, 2024
Expiration Date December 31, 2025
Arrangement Duration 475 days
Aggregate Available 264,374
Rule 10b5-1 Trading Arrangement | Langley Steinert  
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted true
Adoption Date June 21, 2024
Expiration Date June 18, 2025
Arrangement Duration 363 days
Aggregate Available 1,782,923
Rule 10b5-1 Trading Arrangement | Hilary and Langley Steinert  
Trading Arrangements, by Individual  
Aggregate Available 1,386,889
Rule 10b5-1 Trading Arrangement | Steinert Trust  
Trading Arrangements, by Individual  
Aggregate Available 154,099
Rule 10b5-1 Trading Arrangement | Comet Foundation  
Trading Arrangements, by Individual  
Aggregate Available 241,935
Rule 10b5-1 Trading Arrangement One | Zachary Hallowell  
Trading Arrangements, by Individual  
Aggregate Available 7,148
Rule 10b5-1 Trading Arrangement Two | Zachary Hallowell  
Trading Arrangements, by Individual  
Aggregate Available 71,767
Rule 10b5-1 Trading Arrangement Three | Samuel Zales  
Trading Arrangements, by Individual  
Aggregate Available 120,000
Vested And Unvested Stock Options | Samuel Zales  
Trading Arrangements, by Individual  
Aggregate Available 19,714
Unsold Under Rule 10b5-1 Trading Arrangement | Samuel Zales  
Trading Arrangements, by Individual  
Aggregate Available 124,660