[Form 4] ACV Auctions Inc. Insider Trading Activity

Rhea-AI Filing Summary

Andrew Peer, VP, Corporate Controller & CAO of ACV Auctions Inc. (ACVA), reported transactions dated 09/15/2025. He exercised 1,750 employee stock options at an exercise price of $2.00 per share and immediately sold 1,750 common shares pursuant to a Rule 10b5-1 trading plan entered on June 11, 2025.

Following the exercise, the Form 4 shows 58,500 shares beneficially owned, and after the reported sale the beneficial ownership is shown as 56,750 shares. The sale price is reported as a weighted average of $10.11 per share (individual execution prices ranged from $10.01 to $10.20). The filing is signed by an attorney-in-fact on 09/16/2025.

Positive

• Sale executed under a Rule 10b5-1 trading plan entered on June 11, 2025, indicating pre-authorized trading.
• Filing discloses weighted average sale price and execution price range ($10.01 to $10.20), providing transaction transparency.
• Option exercise disclosed with exercise price of $2.00, and vesting history is described in the explanation.

Negative

• Reported direct beneficial ownership decreased from 58,500 to 56,750 shares following the sale.
• Shares were sold immediately after exercise, resulting in no net increase in long-term shareholdings from this transaction.

Insights

Securities/Financial Analyst

TL;DR: Routine option exercise and matched sale under a 10b5-1 plan; transaction size is small relative to total outstanding shares.

The reporting person exercised 1,750 options at $2.00 and sold the same number of shares under a Rule 10b5-1 plan at a weighted average of $10.11. These actions are consistent with planned, pre-authorized trading and compliance with insider-trading rules. The filing discloses both pre-set plan date (June 11, 2025) and the weighted average sale price range ($10.01 to $10.20), providing transparency on execution. The net change in direct beneficial ownership shown in the form is a reduction from 58,500 to 56,750 shares.

Corporate Governance Expert

TL;DR: The filing documents compliance with Rule 10b5-1 and standard option vesting/exercise disclosures.

The Form 4 clearly states that the sale was made pursuant to a Rule 10b5-1 trading plan entered on June 11, 2025, and provides the weighted average sale price and range. The option vesting schedule note explains prior vesting mechanics for the reported option award. Signature by an attorney-in-fact on 09/16/2025 is included, meeting execution requirements. This filing is a routine insider disclosure that documents compliance and vesting history without introducing new governance concerns in the text provided.

SEC Form 4

FORM 4

UNITED 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^*

Peer Andrew

(Last) (First) (Middle)

C/O ACV AUCTIONS INC.

640 ELLICOTT ST., SUITE 321

(Street)

BUFFALO NY 14203

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ACV Auctions Inc. [ ACVA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	VP, Corporate Controller & CAO

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/15/2025		M		1,750	A	$2	58,500	D
Common Stock	09/15/2025		S(1)		1,750	D	$10.11(2)	56,750	D

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (Right to Buy)	$2	09/15/2025		M			1,750	(3)	03/05/2029	Common Stock	1,750	$0	8,750	D

Explanation of Responses:

1. Shares sold pursuant to a Rule 10b5-1 trading plan enter into on June 11, 2025.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.01 to $10.20 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, 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 range set forth in this footnote.

3. One-fourth (1/4th) of the shares subject to the option award vested on October 15, 2019, and thereafter one-forty-eighths of the shares subject to the option award vested monthly, subject to the Reporting Person's continuous service.

Remarks:

	/s/ Michelle Webb, Attorney-in-Fact	09/16/2025
	** Signature of Reporting Person	Date
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.

FAQ

What transactions did ACVA insider Andrew Peer report on the Form 4?

The filing reports that Andrew Peer exercised 1,750 employee stock options at $2.00 per share and sold 1,750 common shares on 09/15/2025.

Were the sales made under a 10b5-1 plan?

Yes. The Form 4 states the shares were sold pursuant to a Rule 10b5-1 trading plan entered on June 11, 2025.

What price did the shares sell for?

The reported weighted average sale price was $10.11 per share, with executions ranging from $10.01 to $10.20.

How did the transaction affect beneficial ownership?

After the exercise, beneficial ownership is shown as 58,500 shares, and following the sale it is shown as 56,750 shares.

When was the Form 4 signed and by whom?

The Form 4 was signed by Michelle Webb, Attorney-in-Fact on 09/16/2025.