Credit Acceptance (CACC) officer sells 3,379 shares after exercising options

Rhea-AI Filing Summary

Credit Acceptance Corp Chief Transformation Officer Nicholas J. Elliott reported option exercises and share sales. On May 29 and June 1, 2026, he exercised employee stock options to acquire a total of 3,379 shares of common stock at an exercise price of $333.94 per share, then sold the same number of shares in open-market transactions.

The reported sales were executed at weighted average prices, with individual trades occurring in ranges between $575.00 and $579.06 per share. After these transactions, Elliott directly holds 20,897.3 common shares and indirectly holds 324 shares through the company’s 401(k) profit sharing plan.

Insider Trade Summary 10b5-1

Net Seller: 3,379 shares ($1,947,892)

Net Sell 10 txns

Insider Elliott Nicholas J

Role Chief Transformation Officer

Sold 3,379 shs ($1.95M)

Type	Security	Shares	Price	Value
Exercise	Employee Stock Option (right to buy)	59	$0.00	--
Exercise	Common Stock	59	$333.94	$20K
Sale	Common Stock	59	$575.25	$34K
Exercise	Employee Stock Option (right to buy)	3,320	$0.00	--
Exercise	Common Stock	3,320	$333.94	$1.11M
Sale	Common Stock	1,508	$575.40	$868K
Sale	Common Stock	847	$576.73	$488K
Sale	Common Stock	645	$577.66	$373K
Sale	Common Stock	320	$578.65	$185K
holding	Common Stock	--	--	--

Holdings After Transaction: Employee Stock Option (right to buy) — 7,084 shares (Direct, null); Common Stock — 20,956.3 shares (Direct, null); Common Stock — 324 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 $575.00 to $575.86, 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 $576.23 to $577.13, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $577.28 to $578.22, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $578.37 to $579.06, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $575.00 to $575.68, inclusive. Held in the Credit Acceptance Stock Fund of the Credit Acceptance Corporation 401(k) Profit Sharing Plan and Trust as of June 1, 2026, according to the Plan trustee.

Key Figures

Shares sold: 3,379 shares Option exercise price: $333.94 per share Sale price ranges: $575.00–$579.06 per share +4 more

7 metrics

Shares sold 3,379 shares Total common shares sold in open-market transactions on May 29 and June 1, 2026

Option exercise price $333.94 per share Exercise price for employee stock options converted into 3,379 common shares

Sale price ranges $575.00–$579.06 per share Weighted-average sale prices across multiple trades noted in footnotes

Direct holdings after trades 20,897.3 shares Directly held CREDIT ACCEPTANCE CORP common shares following reported transactions

Indirect 401(k) holdings 324 shares Shares held in Credit Acceptance Stock Fund of the 401(k) Plan as of June 1, 2026

Options exercised (May 29) 3,320 options Employee stock options exercised into common stock on May 29, 2026

Options exercised (June 1) 59 options Employee stock options exercised into common stock on June 1, 2026

Key Terms

weighted average price, Employee Stock Option (right to buy), open-market sale, derivative exercise/conversion, +1 more

5 terms

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.

Employee Stock Option (right to buy) financial

"security_title: Employee Stock Option (right to buy)"

open-market sale financial

"transaction_action: open-market sale"

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.

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"

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Form 4 Insider Transactions: What Each Field Means →

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^*

Elliott Nicholas J

(Last) (First) (Middle)

25505 WEST TWELVE MILE RD

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Transformation Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/29/2026

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

X	Form 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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	05/29/2026		M		3,320	A	$333.94	24,217.3	D
Common Stock	05/29/2026		S		1,508	D	$575.4(1)	22,709.3	D
Common Stock	05/29/2026		S		847	D	$576.73(2)	21,862.3	D
Common Stock	05/29/2026		S		645	D	$577.66(3)	21,217.3	D
Common Stock	05/29/2026		S		320	D	$578.65(4)	20,897.3	D
Common Stock	06/01/2026		M		59	A	$333.94	20,956.3	D
Common Stock	06/01/2026		S		59	D	$575.25(5)	20,897.3	D
Common Stock								324	I	By 401(k) Trust(6)

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)	$333.94	05/29/2026		M			3,320	12/30/2024	12/30/2026	Common Stock	3,320	$0	7,143	D
Employee Stock Option (right to buy)	$333.94	06/01/2026		M			59	12/30/2024	12/30/2026	Common Stock	59	$0	7,084	D

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 $575.00 to $575.86, 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 $576.23 to $577.13, inclusive.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $577.28 to $578.22, inclusive.

4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $578.37 to $579.06, inclusive.

5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $575.00 to $575.68, inclusive.

6. Held in the Credit Acceptance Stock Fund of the Credit Acceptance Corporation 401(k) Profit Sharing Plan and Trust as of June 1, 2026, according to the Plan trustee.

Remarks:

	/s/ Nicholas J. Elliott	06/02/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did CREDIT ACCEPTANCE CORP (CACC) report for Nicholas J. Elliott?

CREDIT ACCEPTANCE CORP reported that Chief Transformation Officer Nicholas J. Elliott exercised options for 3,379 common shares and sold 3,379 shares in open-market transactions on May 29 and June 1, 2026.

How many CREDIT ACCEPTANCE CORP (CACC) shares did Nicholas J. Elliott sell?

Nicholas J. Elliott sold 3,379 shares of CREDIT ACCEPTANCE CORP common stock in multiple open-market trades, with reported weighted average sale prices generally between $575.00 and $579.06 per share over May 29 and June 1, 2026.

At what price did Nicholas J. Elliott exercise his CACC stock options?

Nicholas J. Elliott exercised employee stock options for 3,379 underlying CREDIT ACCEPTANCE CORP common shares at an exercise price of $333.94 per share, converting derivative awards into directly held stock before subsequently selling those shares.

What are Nicholas J. Elliott’s CACC share holdings after these transactions?

After the reported transactions, Nicholas J. Elliott directly holds 20,897.3 CREDIT ACCEPTANCE CORP common shares and indirectly holds 324 shares through the Credit Acceptance Stock Fund in the company’s 401(k) Profit Sharing Plan and Trust.

Were the CACC share sale prices fixed or ranges for Nicholas J. Elliott’s trades?

The reported sale prices are weighted averages. The Form 4 notes that individual trades occurred within price ranges such as $575.00 to $579.06 per share, and the company will provide detailed trade breakdowns upon request.

Does Nicholas J. Elliott still hold stock options in CREDIT ACCEPTANCE CORP after exercising?

The filing shows employee stock option entries where some options were exercised into common shares, and option balances remained outstanding afterward, indicating that Nicholas J. Elliott continues to hold unexercised employee stock options.