CREDIT ACCEPTANCE CORP (CACC) officer sells 2,068 shares after option exercise
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
CREDIT ACCEPTANCE CORP Chief People Officer Wendy A. Rummler reported an option exercise and related share sales. On May 6, 2026, she exercised employee stock options for 2,068 shares of common stock at an exercise price of $333.94 per share. That same day, she sold 2,068 common shares in multiple open-market transactions at prices reported between $550.00 and $565.15 per share. After the transactions, she reports owning 19,990.1 common shares directly, plus additional indirect holdings through revocable trusts.
Positive
- None.
Negative
- None.
Insights
Routine exercise-and-sell; Rummler retains a sizable equity stake.
Chief People Officer Wendy A. Rummler exercised options for 2,068 shares at an exercise price of $333.94 and sold the same number of CREDIT ACCEPTANCE CORP shares in open-market trades around the mid-$550s.
The filing shows 2,068 shares sold across eight sale entries and one option exercise entry. After these moves, she still reports 19,990.1 common shares held directly, plus indirect trust holdings and remaining options over 11,250 underlying shares. The pattern appears as a liquidity event rather than a full exit.
Insider Trade Summary 10b5-1
Net Seller: 2,068 shares ($1,139,464)
Net Sell
14 txns
Insider
Rummler Wendy A
Role
Chief People Officer
Sold
2,068 shs ($1.14M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (right to buy) | 2,068 | $0.00 | -- |
| Exercise | Common Stock | 2,068 | $333.94 | $691K |
| Sale | Common Stock | 1,625 | $550.33 | $894K |
| Sale | Common Stock | 126 | $551.14 | $69K |
| Sale | Common Stock | 88 | $553.12 | $49K |
| Sale | Common Stock | 177 | $553.79 | $98K |
| Sale | Common Stock | 17 | $555.00 | $9K |
| Sale | Common Stock | 19 | $557.08 | $11K |
| Sale | Common Stock | 4 | $559.37 | $2K |
| Sale | Common Stock | 12 | $565.15 | $7K |
| holding | Employee Stock Option (right to buy) | -- | -- | -- |
| holding | Employee Stock Option (right to buy) | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Employee Stock Option (right to buy) — 1,994 shares (Direct, null);
Common Stock — 21,615.1 shares (Direct, null);
Common Stock — 2,704 shares (Indirect, By trust.)
Footnotes (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 $550.90, 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 $551.03 to $551.40, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $552.53 to $553.40, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $553.53 to $554.43, inclusive. These shares are owned of record by Kevin Rummler, spouse of Wendy A. Rummler, as trustee of the Kevin Rummler Revocable Trust. These shares are owned of record by Wendy A. Rummler, as trustee of the Wendy A. Rummler Revocable Trust. The option, initially representing the right to purchase 10,000 shares, is exercisable in four equal annual installments beginning on October 6, 2023, which was the first anniversary of the date on which the option was granted.
Key Figures
Shares sold: 2,068 shares
Sale price range: $550.00–$565.15 per share
Option exercise price: $333.94 per share
+5 more
8 metrics
Shares sold
2,068 shares
Open-market common stock sales on May 6, 2026
Sale price range
$550.00–$565.15 per share
Prices reported across multiple sale transactions
Option exercise price
$333.94 per share
Employee stock option exercise for 2,068 shares
Direct common shares after transactions
19,990.1 shares
Total direct holdings following reported trades
Option grant 1 underlying shares
10,000 shares
Options at $468.67, expiring October 6, 2028
Option grant 2 underlying shares
1,250 shares
Options at $390.39, expiring April 28, 2027
Indirect trust holding 1
2,365.5 shares
Common stock held by the Kevin Rummler Revocable Trust
Indirect trust holding 2
2,704 shares
Common stock held by the Wendy A. Rummler Revocable Trust
Key Terms
Employee Stock Option (right to buy), weighted average price, open-market sale, derivative security, +1 more
5 terms
Employee Stock Option (right to buy) financial
"security_title": "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.
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 security financial
"transaction_code_description": "Exercise or conversion of derivative security""
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
Revocable Trust financial
"as trustee of the Kevin Rummler Revocable Trust."
A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.
FAQ
What did CREDIT ACCEPTANCE CORP (CACC) executive Wendy A. Rummler report in this Form 4?
Wendy A. Rummler reported exercising employee stock options for 2,068 CREDIT ACCEPTANCE CORP shares at $333.94 each and selling 2,068 common shares in open-market transactions, while continuing to hold a substantial direct and indirect equity position in the company.
What stock options does Wendy A. Rummler still hold in CREDIT ACCEPTANCE CORP (CACC)?
After the reported transactions, she retains employee stock options over 10,000 underlying shares at an exercise price of $468.67 expiring on October 6, 2028, and options over 1,250 underlying shares at $390.39 expiring on April 28, 2027, all tied to common stock.
Were Wendy A. Rummler’s CREDIT ACCEPTANCE CORP (CACC) sales open-market transactions?
Yes. Each sale entry is coded as an open-market or private sale of common stock, with transaction code “S.” The filing notes weighted average prices and indicates the shares were sold in multiple transactions within specified price ranges around the mid-$550s per share.
What does the Form 4 reveal about Wendy A. Rummler’s overall equity exposure to CREDIT ACCEPTANCE CORP (CACC)?
The filing shows she sold 2,068 shares while exercising options for the same number. She still reports nearly 20,000 common shares held directly, indirect trust holdings, and significant remaining stock options, indicating continuing equity exposure to CREDIT ACCEPTANCE CORP.