Cars.com Announces Inducement Award Under NYSE Rule 303A.08

CHICAGO, Nov. 8, 2026 /PRNewswire/ -- Cars.com Inc. (NYSE: CARS) ("Cars.com" or the "Company"), today announced that on November 5, 2026, the Company's Compensation Committee granted restricted stock units ("RSUs") covering an aggregate of 373,345 shares of the Company's common stock to Mausam Bhatt as a material inducement to his employment as Chief Product Officer, effective November 2, 2026 (the "Inducement Awards").

The Inducement Awards were granted under the Cars.com Inc. 2025 Inducement Equity Plan, as amended, and consist of (i) 302,457 RSUs that vest in three equal installments on each of the first three anniversaries of the grant date and (ii) 70,888 RSUs that vest in two equal installments on each of the first two anniversaries of the grant date, in each case subject to Mr. Bhatt's continued employment with the Company through each applicable vesting date.

The Inducement Awards were granted in reliance on the employment inducement exemption from the NYSE's shareholder approval requirements under Section 303A.08 of the NYSE Listed Company Manual. The Company is issuing this press release in accordance with Section 303A.08.

About Cars.com

Cars.com (NYSE: CARS) is a leading marketplace for automotive sales. For over 25 years, we've combined the most reviews in the industry, straight answers, and tools that cut through the noise to help shoppers make confident car decisions. Our scaled marketplace paired with interconnected technology, data, and media gives dealers and OEMs everything they need to sell more cars. Learn more at Cars.com.

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SOURCE Cars.com Inc.