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Credit Acceptance Corp (CACC) CLO exercises options and sells 1,753 shares

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Credit Acceptance Corp Chief Legal Officer Erin J. Kerber reported an option exercise paired with open-market sales of common stock. On May 6, 2026, she exercised employee stock options to acquire 1,753 shares of common stock at an exercise price of $333.94 per share and sold 1,753 shares in multiple open-market transactions, with weighted average sale prices reported between roughly $550 and $559 per share. She continues to hold an employee stock option covering 15,500 underlying shares at an exercise price of $454.11 per share, expiring in 2027, along with 240 shares held indirectly through the company’s 401(k) Profit Sharing Plan and Trust as of May 7, 2026.

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Insider KERBER ERIN J
Role Chief Legal Officer
Sold 1,753 shs ($967K)
Type Security Shares Price Value
Exercise Employee Stock Option (right to buy) 1,753 $0.00 --
Exercise Common Stock 1,753 $333.94 $585K
Sale Common Stock 1,032 $550.27 $568K
Sale Common Stock 168 $551.44 $93K
Sale Common Stock 91 $552.65 $50K
Sale Common Stock 372 $553.93 $206K
Sale Common Stock 22 $555.00 $12K
Sale Common Stock 54 $557.09 $30K
Sale Common Stock 14 $559.37 $8K
holding Employee Stock Option (right to buy) -- -- --
holding Common Stock -- -- --
Holdings After Transaction: Employee Stock Option (right to buy) — 12,872 shares (Direct, null); Common Stock — 27,463.7 shares (Direct, null); Common Stock — 240 shares (Indirect, By 401(k) Trust)
Footnotes (1)
  1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $550.00 to $550.94, inclusive. The reporting person undertakes to provide to Credit Acceptance Corporation, any security holder of Credit Acceptance Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in the footnotes to this Form 4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $551.30 to $551.48, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $552.30 to $553.27, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $553.35 to $554.01, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $555.00 to $555.01, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $557.08 to $557.09, inclusive. Held in the Credit Acceptance Stock Fund of the Credit Acceptance Corporation 401(k) Profit Sharing Plan and Trust as of May 7, 2026, according to the Plan trustee.
Shares sold 1,753 shares Open-market sales of common stock on May 6, 2026
Sale price range $550.00–$557.09 per share Weighted average price ranges across multiple sale transactions
Options exercised 1,753 shares at $333.94/share Employee stock option exercise on May 6, 2026
Remaining option position 15,500 underlying shares at $454.11 Employee stock option expiring June 28, 2027
Indirect 401(k) holdings 240 shares Held in Credit Acceptance Stock Fund as of May 7, 2026
open-market sale financial
"Sale in open market or private transaction"
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
Employee Stock Option (right to buy) financial
"Employee Stock Option (right to buy)"
weighted average price financial
"The price reported in Column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
derivative exercise/conversion financial
"transaction_action": "derivative exercise/conversion""
401(k) Profit Sharing Plan and Trust financial
"Credit Acceptance Corporation 401(k) Profit Sharing Plan and Trust as of May 7, 2026"
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
X
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
KERBER ERIN J
(Last)(First)(Middle)
25505 WEST TWELVE MILE ROAD
(Street)
SOUTHFIELD MICHIGAN 48034
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
CREDIT ACCEPTANCE CORP [ CACC ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
Chief Legal Officer
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
05/06/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Common Stock05/06/2026M1,753A$333.9427,463.7D
Common Stock05/06/2026S1,032D$550.27(1)26,431.7D
Common Stock05/06/2026S168D$551.44(2)26,263.7D
Common Stock05/06/2026S91D$552.65(3)26,172.7D
Common Stock05/06/2026S372D$553.93(4)25,800.7D
Common Stock05/06/2026S22D$555(5)25,778.7D
Common Stock05/06/2026S54D$557.09(6)25,724.7D
Common Stock05/06/2026S14D$559.3725,710.7D
Common Stock240IBy 401(k) Trust(7)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Employee Stock Option (right to buy)$333.9405/06/2026M1,75312/30/202412/30/2026Common Stock1,753$012,872D
Employee Stock Option (right to buy)$454.1106/28/202506/28/2027Common Stock15,50015,500D
Explanation of Responses:
1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $550.00 to $550.94, inclusive. The reporting person undertakes to provide to Credit Acceptance Corporation, any security holder of Credit Acceptance Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in the footnotes to this Form 4.
2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $551.30 to $551.48, inclusive.
3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $552.30 to $553.27, inclusive.
4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $553.35 to $554.01, inclusive.
5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $555.00 to $555.01, inclusive.
6. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $557.08 to $557.09, inclusive.
7. Held in the Credit Acceptance Stock Fund of the Credit Acceptance Corporation 401(k) Profit Sharing Plan and Trust as of May 7, 2026, according to the Plan trustee.
Remarks:
/s/ Erin J. Kerber05/08/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did CREDIT ACCEPTANCE CORP (CACC) report for Erin J. Kerber?

Erin J. Kerber reported exercising employee stock options for 1,753 shares of Credit Acceptance Corp common stock at an exercise price of $333.94 per share, and selling 1,753 shares in multiple open-market transactions at weighted average prices around $550–$559 per share.

How many CREDIT ACCEPTANCE CORP (CACC) shares did Erin J. Kerber sell and at what prices?

She sold 1,753 shares of Credit Acceptance Corp common stock in several open-market trades. Weighted average sale prices were reported in ranges, including $550.00–$550.94, $551.30–$551.48, $552.30–$553.27, $553.35–$554.01, $555.00–$555.01, and $557.08–$557.09 per share.

What employee stock options does Erin J. Kerber still hold in CREDIT ACCEPTANCE CORP (CACC)?

After the reported transactions, Erin J. Kerber continues to hold an Employee Stock Option over 15,500 underlying shares of Credit Acceptance Corp common stock with an exercise price of $454.11 per share and an expiration date in June 2027, according to the filing’s derivative summary.

Did the CREDIT ACCEPTANCE CORP (CACC) filing show any indirect holdings for Erin J. Kerber?

Yes. The filing notes 240 shares of Credit Acceptance Corp common stock held indirectly in the Credit Acceptance Stock Fund of the company’s 401(k) Profit Sharing Plan and Trust as of May 7, 2026, based on information from the plan trustee.

Were Erin J. Kerber’s CREDIT ACCEPTANCE CORP (CACC) stock sales single trades or aggregated transactions?

The reported sale prices are weighted averages, indicating the 1,753 shares were sold in multiple transactions within specified price ranges. Footnotes state she can provide detailed breakdowns of the number of shares sold at each individual price within those ranges upon request.