CarGurus, Inc. filed an 8-K with the SEC on September 3, 2026, disclosing the appointment of Matthew Mandel as Chief Financial Officer, principal financial officer, and principal accounting officer, effective October 19, 2026.

Key Highlights

  • New CFO effective October 19, 2026: Matthew Mandel, age 42, will join CarGurus as Chief Financial Officer on that date, which the filing refers to as the "Start Date."
  • Interim CFO role ends: CEO Jason Trevisan will step down as interim principal financial officer and principal accounting officer on the Start Date, while continuing as Chief Executive Officer.
  • Base salary and target bonus: Mandel will receive an annual base salary of $450,000 and a target bonus of up to $450,000 under the CarGurus Annual Incentive Plan, prorated for 2026.
  • Sign-on bonus of $250,000: The one-time cash sign-on bonus is payable in two equal installments, with clawback provisions if employment ends within 12 months under specified conditions.
  • RSU grant of $5,500,000: Mandel will receive restricted stock units valued at $5,500,000 on the Start Date, vesting 25% on the first anniversary and the balance in quarterly installments over three years.
  • Severance terms: A qualifying termination without Cause or for Good Reason entitles Mandel to nine months of base salary, any unpaid prior-year bonus, and nine months of COBRA premiums in a single lump-sum payment.
  • Prior roles: Mandel most recently served as CFO and COO at Fleetio since November 2023, and previously held roles at Cometeer, Wayfair Inc., and Advent International.

CarGurus CFO Appointment: Compensation and Employment Terms for Matthew Mandel

According to the filing, CarGurus, Inc. (NASDAQ:CARG) announced on September 3, 2026, that Matthew Mandel will assume the role of Chief Financial Officer effective October 19, 2026. Mandel joins from Fleetio, described in the filing as "a leading fleet maintenance and optimization software platform," where he has served as both CFO and COO since November 2023. Before that, he held multiple roles at Cometeer between August 2020 and August 2023, including Co-Chief Executive Officer, and previously served as General Manager at Wayfair Inc. and as Vice President at Advent International.

The filing discloses that Mandel's compensation package includes a $450,000 annual base salary, a target annual bonus of up to $450,000, and a one-time cash sign-on bonus of $250,000. The sign-on bonus is to be paid in two equal installments: 50% within 60 days of the Start Date and 50% on the next regular pay day after the six-month anniversary of the Start Date. The company also disclosed a one-time cash payment of $15,000 to cover legal fees incurred in negotiating his employment arrangements, payable within 60 days of the Start Date.

On the Start Date, Mandel is set to receive an RSU grant valued at $5,500,000 under the company's Omnibus Incentive Compensation Plan. The RSUs vest 25% on the first anniversary of the Start Date, with the remaining balance vesting in substantially equal quarterly installments over the following three years. The filing also specifies accelerated vesting provisions in the event of a Change of Control termination. In the event of a qualifying termination before the first anniversary of the Start Date, a prorated portion of the RSUs may vest based on completed three-month employment periods, ranging from 6.25% at three months to 18.75% at nine months. The filing states that no family relationships exist between Mandel and any of the company's directors or other executive officers.

What Was Disclosed

CarGurus disclosed the appointment of Matthew Mandel as CFO effective October 19, 2026, including full details of his compensation, RSU grant, severance terms, and the transition of interim CFO duties from CEO Jason Trevisan.