Credit Acceptance director sells 4,000 shares
Credit Acceptance Corp director Kenneth Booth reported an exercise-and-sell transaction involving company stock.
Rhea-AI Filing Summary
Credit Acceptance Corp director Kenneth Booth reported an exercise-and-sell transaction involving company stock. On May 14, 2026, he exercised stock options to acquire 4,000 shares of Common Stock at an exercise price of $333.94 per share.
The same day, he sold a total of 4,000 Common shares in open-market transactions: 2,000 shares at a weighted average price of $539.13 per share and 2,000 shares at $544.00 per share. After these transactions, Booth directly held 22,831.9 Common shares.
He also retained a significant derivative position through employee stock options covering 110,000 underlying Common shares at an exercise price of $390.39 per share, which are scheduled to expire on January 31, 2028.
Positive
- None.
Negative
- None.
Insider Trade Summary
Exercise and Sale: 4,000 shares ($831K approx. pre-tax spread)
Exercise and Sale
7 txns
Insider
Booth Kenneth
Role
Director
Sold
4,000 shs ($2.17M)
Approx. gross sale proceeds
$2.17M
Approx. exercise cost
$1.34M
Approx. pre-tax spread
$831K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (right to buy) | 2,000 | $0.00 | $0.00 |
| Exercise | Employee Stock Option (right to buy) | 2,000 | $0.00 | $0.00 |
| Exercise | Common Stock | 2,000 | $333.94 | $668K |
| Sale | Common Stock | 2,000 | $544.00 | $1.09M |
| Exercise | Common Stock | 2,000 | $333.94 | $668K |
| Sale | Common Stock | 2,000 | $539.13 | $1.08M |
| holding | Employee Stock Option (right to buy) | -- | -- | -- |
Holdings After Transaction:
Employee Stock Option (right to buy) — 136,000 contracts for 110,000 underlying shares (Direct);
Common Stock — 22,831.9 shares (Direct)
Footnotes (1)
- F1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $538.63 to $539.31, 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.
Key Figures
Shares sold: 4,000 shares
Weighted average sale price: $539.13 per share
Additional sale price: $544.00 per share
+4 more
7 metrics
Shares sold
4,000 shares
Common Stock sold in open-market transactions on May 14, 2026
Weighted average sale price
$539.13 per share
2,000 Common shares sold with prices from $538.63 to $539.31
Additional sale price
$544.00 per share
2,000 Common shares sold in a separate open-market transaction
Option exercise price
$333.94 per share
Exercise price for 4,000 Common shares acquired via option exercises
Shares held after transaction
22,831.9 shares
Direct Common Stock holdings following all reported transactions
Options remaining
110,000 underlying shares
Employee stock options at $390.39 exercise price, expiring January 31, 2028
Option exercise price (remaining)
$390.39 per share
Exercise price of remaining employee stock options on Common Stock
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) with underlying Common Stock"
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 for Common Stock transactions"
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.
underlying Security financial
"underlying_security_title: Common Stock as the underlying security for options"
FAQ
What insider transactions did Kenneth Booth report at CREDIT ACCEPTANCE CORP (CACC)?
Kenneth Booth reported exercising options for 4,000 Credit Acceptance shares, then selling 4,000 shares in open-market transactions. The filing shows both derivative exercises and sales, reflecting an exercise-and-sell pattern rather than a pure open-market purchase or sale.
What stock options on CREDIT ACCEPTANCE (CACC) does Kenneth Booth still hold?
Kenneth Booth holds employee stock options tied to 110,000 underlying Credit Acceptance Common shares at an exercise price of $390.39 per share. These options are scheduled to expire on January 31, 2028, representing a substantial remaining derivative position.
What type of transactions do the M and S codes represent in this CREDIT ACCEPTANCE (CACC) Form 4?
In this Form 4, code M indicates exercises or conversions of derivative securities, specifically stock options exercised into Common Stock. Code S indicates open-market or private sales of Common Stock, showing how many shares were sold and at what prices.
How is the weighted average sale price described in Kenneth Booth’s CREDIT ACCEPTANCE (CACC) filing?
The filing states that the $539.13 sale price is a weighted average, with individual sale prices ranging from $538.63 to $539.31 per share. The reporting person offers to provide full price breakdowns for each trade upon request to interested parties.
AI-generated analysis. How Rhea-AI works. Not financial advice.
