Credit Acceptance (CACC) CLO trades small share block, keeps large option stake
Rhea-AI Filing Summary
Credit Acceptance Corporation Chief Legal Officer Erin J. Kerber reported small, routine stock transactions. Over June 15–17, 2026, she sold a total of 56 shares of common stock in open-market trades at prices generally around $575–$582 per share, some reported as weighted-average prices executed in multiple trades.
On the same dates, she exercised employee stock options covering 56 shares at an exercise price of $333.94 per share, converting options into common stock. After these transactions, Kerber directly holds 25,710.7 common shares and also has an indirect interest in 242 shares through the company’s 401(k) plan. She retains 15,500 employee stock options with an exercise price of $454.11 per share expiring on June 28, 2027.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and Sale: 56 shares ($14K approx. pre-tax spread)
Exercise and Sale
17 txns
Insider
KERBER ERIN J
Role
Chief Legal Officer
Sold
56 shs ($32K)
Approx. gross sale proceeds
$32K
Approx. exercise cost
$19K
Approx. pre-tax spread
$14K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (right to buy) | 2 | $0.00 | $0.00 |
| Exercise | Common Stock | 2 | $333.94 | $667.88 |
| Sale | Common Stock | 1 | $581.70 | $581.70 |
| Sale | Common Stock | 1 | $575.93 | $575.93 |
| Exercise | Employee Stock Option (right to buy) | 27 | $0.00 | $0.00 |
| Exercise | Common Stock | 27 | $333.94 | $9K |
| Sale | Common Stock | 3 | $575.18 | $2K |
| Sale | Common Stock | 6 | $577.24 | $3K |
| Sale | Common Stock | 11 | $578.16 | $6K |
| Sale | Common Stock | 6 | $579.07 | $3K |
| Sale | Common Stock | 1 | $581.49 | $581.49 |
| Exercise | Employee Stock Option (right to buy) | 27 | $0.00 | $0.00 |
| Exercise | Common Stock | 27 | $333.94 | $9K |
| Sale | Common Stock | 23 | $575.04 | $13K |
| Sale | Common Stock | 4 | $576.04 | $2K |
| holding | Employee Stock Option (right to buy) | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Employee Stock Option (right to buy) — 22,813 shares (Direct);
Common Stock — 25,710.7 shares (Direct);
Common Stock — 242 shares (Indirect, By 401(k) Trust)
Footnotes (7)
- 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 $575.15, 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $576.01 to $576.13, inclusive.
- F3. 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 $575.55, inclusive.
- F4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $576.75 to $577.63, inclusive.
- F5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $577.79 to $578.64, inclusive.
- F6. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $578.90 to $579.81, inclusive.
- F7. 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: 56 shares
Sale price example: $581.70 per share
Options exercised: 56 shares
+5 more
8 metrics
Shares sold
56 shares
Open-market sales of common stock over June 15–17, 2026
Sale price example
$581.70 per share
One reported common stock sale price on June 17, 2026
Options exercised
56 shares
Employee stock options exercised at $333.94 per share
Option exercise price
$333.94 per share
Employee stock options converted into common stock
Direct holdings after trades
25,710.7 shares
Common stock directly held following reported transactions
Indirect 401(k) holdings
242 shares
Shares held in Credit Acceptance Stock Fund as of June 9, 2026
Remaining options
15,500 options
Employee stock options on common stock expiring June 28, 2027
Remaining option exercise price
$454.11 per share
Exercise price for remaining 15,500 employee stock options
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" for several 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.
Employee Stock Option (right to buy) financial
"security_title: "Employee Stock Option (right to buy)" in derivative entries"
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
"Held in the Credit Acceptance Stock Fund of the Credit Acceptance Corporation 401(k) Profit Sharing Plan and Trust as of June 9, 2026"
derivative exercise/conversion financial
"transaction_action: "derivative exercise/conversion" for option-related entries"
FAQ
What insider transactions did CACC Chief Legal Officer Erin Kerber report?
Erin J. Kerber reported selling 56 shares of Credit Acceptance common stock and exercising employee stock options for 56 shares. These were open-market sales and option exercises spread over June 15–17, 2026, and appear as small, routine transactions.
What stock options did Erin Kerber exercise in this CACC Form 4?
She exercised employee stock options covering 56 underlying CACC common shares at an exercise price of $333.94 per share. These exercises converted a small portion of her option holdings into common stock while leaving a larger remaining option position outstanding.
What Credit Acceptance stock options does Erin Kerber still hold after the Form 4 transactions?
After these exercises, Kerber retains employee stock options on 15,500 underlying CACC common shares. These options have an exercise price of $454.11 per share and are scheduled to expire on June 28, 2027, if they are not exercised earlier.
Are Erin Kerber’s CACC stock sale prices reported as weighted averages?
Several sale entries list the reported price as a weighted average, with footnotes explaining that individual trades occurred within narrow ranges around the stated price. The company notes it can provide exact per-trade details to interested parties upon request.
AI-generated analysis. How Rhea-AI works. Not financial advice.
