CACC legal chief exercises options, sells 54 shares
Credit Acceptance Corp’s Chief Legal Officer, Erin J. Kerber, reported an exercise-and-sell transaction in company stock.
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Form Type
4
Rhea-AI Filing Summary
Credit Acceptance Corp’s Chief Legal Officer, Erin J. Kerber, reported an exercise-and-sell transaction in company stock. On June 8–9, 2026, she exercised employee stock options to acquire a total of 54 shares of common stock at an exercise price of $333.94 per share and sold the same 54 shares in open-market transactions at weighted average prices of about $575.71 and $578.15 per share. After these trades, she holds 25,710.7 shares of common stock directly and 242 shares indirectly through the company’s 401(k) plan, and retains options linked to 15,500 underlying shares at a $454.11 exercise price expiring in 2027.
Insider Trade Summary 10b5-1
Exercise and Sale: 54 shares ($13K approx. pre-tax spread)
Exercise and Sale
8 txns
Insider
KERBER ERIN J
Role
Chief Legal Officer
Sold
54 shs ($31K)
Approx. gross sale proceeds
$31K
Approx. exercise cost
$18K
Approx. pre-tax spread
$13K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (right to buy) | 32 | $0.00 | $0.00 |
| Exercise | Common Stock | 32 | $333.94 | $11K |
| Sale | Common Stock | 32 | $575.71 | $18K |
| Exercise | Employee Stock Option (right to buy) | 22 | $0.00 | $0.00 |
| Exercise | Common Stock | 22 | $333.94 | $7K |
| Sale | Common Stock | 22 | $578.15 | $13K |
| holding | Employee Stock Option (right to buy) | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Employee Stock Option (right to buy) — 22,869 contracts for 15,500 underlying shares (Direct);
Common Stock — 25,710.7 shares (Direct);
Common Stock — 242 shares (Indirect, By 401(k) Trust)
Footnotes (2)
- F1. 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 $575.85, 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.
- F2. Held in the Credit Acceptance Stock Fund of the Credit Acceptance Corporation 401(k) Profit Sharing Plan and Trust as of June 9, 2026, according to the Plan trustee.
Key Figures
Shares sold: 54 shares
Sale price June 9: $575.71 per share
Sale price June 8: $578.15 per share
+5 more
8 metrics
Shares sold
54 shares
Open-market sales on June 8–9, 2026
Sale price June 9
$575.71 per share
Weighted average sale price, range $575.00–$575.85
Sale price June 8
$578.15 per share
Reported open-market sale price
Option exercise price
$333.94 per share
Exercise price for 54 underlying common shares
Direct holdings after trades
25,710.7 shares
Common stock directly owned after June 9, 2026
Indirect 401(k) holdings
242 shares
Held in Credit Acceptance 401(k) Stock Fund as of June 9, 2026
Remaining option underlying shares
15,500 shares
Underlying common stock for remaining options at $454.11 exercise price
Remaining option exercise price
$454.11 per share
Employee stock options expiring June 28, 2027
Key Terms
open-market sale, Employee Stock Option (right to buy), weighted average price, 401(k) Profit Sharing Plan and Trust, +1 more
5 terms
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.
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.
401(k) Profit Sharing Plan and Trust financial
"Credit Acceptance Corporation 401(k) Profit Sharing Plan and Trust as of June 9, 2026"
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did CACC’s Erin J. Kerber report on this Form 4?
Erin J. Kerber reported exercising employee stock options for 54 shares of Credit Acceptance Corp common stock and selling those 54 shares in open-market transactions. The filing shows both the option exercise and the corresponding share sales over two consecutive days.
What is Erin J. Kerber’s remaining direct ownership in CACC after these transactions?
After the reported option exercises and share sales, Erin J. Kerber directly owns 25,710.7 shares of Credit Acceptance Corp common stock. This figure reflects her position immediately following the June 9, 2026 transactions disclosed in the Form 4.
What employee stock options does Erin J. Kerber still hold in CACC?
She retains employee stock options tied to 15,500 underlying shares of Credit Acceptance Corp common stock. These options have an exercise price of $454.11 per share and an expiration date of June 28, 2027, according to the derivative position summary.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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