Director Kenneth Booth exits Credit Acceptance (NASDAQ: CACC) board
Rhea-AI Filing Summary
Credit Acceptance Corporation reported that on July 21, 2026, director Kenneth S. Booth resigned from its board of directors.
The company stated that his resignation was not due to any disagreement with the company, its management, the board, or any committee of the board. In connection with his departure, the board reduced its size from six directors to five directors, updating its overall board composition.
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8-K Event Classification
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
1 item
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Key Figures
Board size before change: 6 directors
Board size after change: 5 directors
Resignation notice date: July 21, 2026
+1 more
4 metrics
Board size before change
6 directors
Size of the board prior to Kenneth S. Booth’s resignation
Board size after change
5 directors
Size of the board after Kenneth S. Booth’s resignation
Resignation notice date
July 21, 2026
Date Kenneth S. Booth notified the company of his resignation
Par value per share
$.01 per share
Par value of Credit Acceptance common stock listed on Nasdaq
Key Terms
Emerging growth company, soliciting material pursuant to Rule 14a-12, pre-commencement communications, Section 12(b) of the Act
4 terms
Emerging growth company regulatory
"Emerging growth company o Item 5.02."
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
soliciting material pursuant to Rule 14a-12 regulatory
"Soliciting material pursuant to Rule 14a-12 under the Exchange Act"
pre-commencement communications regulatory
"Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act"
Section 12(b) of the Act regulatory
"Securities registered pursuant to Section 12(b) of the Act"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
Who resigned from Credit Acceptance’s (CACC) board in July 2026?
Kenneth S. Booth resigned from Credit Acceptance’s board of directors on July 21, 2026. He notified the company of his decision and confirmed it was not due to any disagreement with the company, its management, the board, or its committees.
Did Kenneth S. Booth cite any disagreement with Credit Acceptance (CACC)?
The company reports that Mr. Booth’s resignation was not due to any disagreement with Credit Acceptance, its management, the board, or any board committee. This indicates the departure was not triggered by a disclosed dispute over company matters.
How did Kenneth S. Booth’s resignation affect CACC’s board size?
In connection with Mr. Booth’s departure, the board reduced its size from six directors to five directors. This change aligns the authorized number of directors with the remaining members and reflects the updated board composition after his resignation.
When did Credit Acceptance (CACC) receive Kenneth S. Booth’s resignation notice?
Credit Acceptance received Mr. Booth’s resignation notice on July 21, 2026. That date marks when he formally notified the company that he would step down from the board of directors, prompting the subsequent reduction in the authorized board size.
What stock does Credit Acceptance (CACC) list on Nasdaq?
Credit Acceptance lists its Common Stock, $.01 par value on The Nasdaq Stock Market under the trading symbol CACC. This security is registered under Section 12(b) of the Securities Exchange Act of 1934 as disclosed by the company.