ACV Auctions Officer Updates Holdings; 13.3k Shares Withheld for Taxes
Rhea-AI Filing Summary
ACV Auctions Inc. (ACVA) – Form 4 filing dated 07/03/2025
Chief Commercial & Dealer Services Officer Craig Eric Anderson reported administrative adjustments and routine share-withholding transactions:
- 40,102 Performance Stock Units (PSUs) originally misclassified in a prior Form 4 are now correctly listed in Table II. PSUs vest one-third annually on 7/1/25-27, subject to a stock-price hurdle.
- On 07/01/2025, the issuer withheld 13,261 common shares at $16.48 per share (Code F) to satisfy tax obligations on vested restricted stock units; no open-market sale occurred.
- Following the transactions, Anderson directly owns 355,799 common shares and 40,102 PSUs.
No purchases or discretionary sales were executed; the filing is largely procedural and does not signal a change in insider sentiment.
Positive
- None.
Negative
- None.
Insights
TL;DR: Procedural Form 4; tax-withholding and correction—no material buy/sell signal.
The filing corrects a prior misclassification by moving 40,102 PSUs from Table I to Table II, clarifying that these are performance-based and contingent on share-price targets through 2027. The three Code F entries represent automatic share withholding for taxes on vested RSUs, typical for executives. Anderson retains a sizable equity stake (≈0.3 M shares) plus PSUs, suggesting continued alignment with shareholders. Because no discretionary trade occurred, the event is neutral for valuation and sentiment, carrying minimal market impact.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 3,645 | $16.48 | $60K |
| Tax Withholding | Common Stock | 5,185 | $16.48 | $85K |
| Tax Withholding | Common Stock | 4,431 | $16.48 | $73K |
| Other | Performance Stock Unit | 40,102 | $0.00 | -- |
| Other | Common Stock | 40,102 | $0.00 | -- |
Footnotes (1)
- The company's stock previously referred to as Class A Common Stock is now referred to as Common Stock following changes made to the company's articles of incorporation. There was no change to any rights related to the stock. In a Form 4 filed on June 3, 2024 the PSU grant reflected here, due to an administrative error, was reported as Class A Common Stock in Table I rather than a PSU grant in Table II. The PSUs are hereby being removed from Table I and correctly reported in Table II. These shares were withheld by the Issuer to cover the tax liability upon the vesting of a time-based restricted stock unit previously granted, and does not represent a discretionary sale by the reporting person. Includes 1,079 shares acquired pursuant to the Company's 2021 Employee Stock Purchase Plan ("ESPP") for the purchase period of 12/1/2024 to 5/31/2025. The PSUs are subject to both service-based vesting conditions and a requirement that the average closing price of the Class A Common Stock of Company, as measured over a period of 30 trading days commencing at the grant date and ending July 1, 2027, equals or exceeds a designated level (the "Stock Price Condition"). The PSUs will vest in one-third installments on each of July 1, 2025, 2026 and 2027, provided that the Stock Price Condition has been satisfied prior to the relevant date. If the Stock Price Condition has not yet been satisfied prior to the relevant date, then the PSUs that otherwise would have vested on such date will remain unvested unless and until the Stock Price Condition has been satisfied, subject to the Reporting Person's continuous service through the relevant vesting date.
