Were Erin J. Kerber’s CACC share sales done in multiple transactions?

Yes. The Form 4 footnotes state the reported prices are weighted averages. Shares were sold in multiple trades within price ranges such as $575.00–$575.81, $576.19–$577.12, $577.28–$577.74, and $578.37–$579.06 per share on the transaction dates.

CACC legal chief exercises options, sells 3,546 shares

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Filing Sentiment

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Rhea-AI Filing Summary

Chief Legal Officer Erin J. Kerber of Credit Acceptance Corp exercised stock options for 3,546 shares of common stock at an exercise price of $333.94 per share and sold the same 3,546 shares in open-market transactions at weighted average prices around $575–$579. After these trades, Kerber directly holds 25,710.7 common shares, plus 241 shares held indirectly through the company’s 401(k) plan, and retains options covering 15,500 additional shares at a $454.11 exercise price.

Insider Trade Summary 10b5-1

Exercise and Sale: 3,546 shares ($860K approx. pre-tax spread)

Exercise and Sale 11 txns

Insider KERBER ERIN J

Role Chief Legal Officer

Sold 3,546 shs ($2.04M)

Approx. gross sale proceeds $2.04M

Approx. exercise cost $1.18M

Approx. pre-tax spread $860K

Type	Security	Shares	Price	Value
Exercise	Employee Stock Option (right to buy)	61	$0.00	$0.00
Exercise	Common Stock	61	$333.94	$20K
Sale	Common Stock	61	$575.25	$35K
Exercise	Employee Stock Option (right to buy)	3,485	$0.00	$0.00
Exercise	Common Stock	3,485	$333.94	$1.16M
Sale	Common Stock	1,299	$575.25	$747K
Sale	Common Stock	1,105	$576.67	$637K
Sale	Common Stock	789	$577.45	$456K
Sale	Common Stock	292	$578.67	$169K
holding	Employee Stock Option (right to buy)	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Employee Stock Option (right to buy) — 22,923 contracts for 15,500 underlying shares (Direct); Common Stock — 25,710.7 shares (Direct); Common Stock — 241 shares (Indirect, By 401(k) Trust)

Footnotes (6)

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 $575.81, 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 $576.19 to $577.12, inclusive.
F3. 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 $577.74, inclusive.
F4. 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.
F5. 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.
F6. 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: 3,546 shares Option exercise price: $333.94/share Example sale price: $575.25/share +4 more

7 metrics

Shares sold 3,546 shares Total common shares sold in open-market transactions

Option exercise price $333.94/share Exercise price for 3,546 common shares

Example sale price $575.25/share Weighted average price for a 61-share sale on June 1, 2026

Direct holdings after trades 25,710.7 shares Common stock directly held following reported transactions

Indirect 401(k) holdings 241 shares Common stock held in the Credit Acceptance 401(k) Stock Fund as of June 1, 2026

Remaining option exercise price $454.11/share Exercise price of remaining employee stock options

Remaining option shares 15,500 shares Underlying shares for options expiring June 28, 2027

Key Terms

Employee Stock Option (right to buy), weighted average price, open-market sale, 401(k) Profit Sharing Plan and Trust, +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 exercise/conversion financial

"transaction_action": "derivative exercise/conversion""

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did CACC Chief Legal Officer Erin J. Kerber report?

Erin J. Kerber reported exercising options for 3,546 Credit Acceptance (CACC) shares at $333.94 each and selling all 3,546 shares in open-market trades at weighted average prices near $575–$579 per share, according to the Form 4 filing.

How many CACC shares did Erin J. Kerber sell and at what prices?

Kerber sold a total of 3,546 Credit Acceptance (CACC) common shares. The filing shows weighted average sale prices including $575.25, $577.45, $576.67, $578.67 and similar ranges, reflecting multiple small transactions across those price levels.

How many CACC shares does Erin J. Kerber hold after these transactions?

After the reported transactions, Kerber directly holds 25,710.7 Credit Acceptance (CACC) common shares. The Form 4 also notes 241 shares held indirectly in the company’s 401(k) plan and stock options over 15,500 additional shares exercisable at $454.11 per share.

What stock options does Erin J. Kerber retain in Credit Acceptance (CACC)?

Kerber retains employee stock options on 15,500 Credit Acceptance (CACC) shares with a $454.11 exercise price and a June 28, 2027 expiration date, in addition to the options that were exercised at $333.94 per share and immediately sold.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/02/2026 - 04:09 PM EDT

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).

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^*

KERBER ERIN J

(Last)

(First)

(Middle)

25505 WEST TWELVE MILE ROAD

(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 Legal 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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/29/2026		M		3,485	A	$333.94	29,195.7	D
Common Stock	05/29/2026		S		1,299	D	$575.25⁽¹⁾	27,896.7	D
Common Stock	05/29/2026		S		1,105	D	$576.67⁽²⁾	26,791.7	D
Common Stock	05/29/2026		S		789	D	$577.45⁽³⁾	26,002.7	D
Common Stock	05/29/2026		S		292	D	$578.67⁽⁴⁾	25,710.7	D
Common Stock	06/01/2026		M		61	A	$333.94	25,771.7	D
Common Stock	06/01/2026		S		61	D	$575.25⁽⁵⁾	25,710.7	D
Common Stock								241	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Employee Stock Option (right to buy)	$333.94	05/29/2026		M			3,485	12/30/2024	12/30/2026	Common Stock	3,485	$0	7,484	D
Employee Stock Option (right to buy)	$333.94	06/01/2026		M			61	12/30/2024	12/30/2026	Common Stock	61	$0	7,423	D
Employee Stock Option (right to buy)	$454.11							06/28/2025	06/28/2027	Common Stock	15,500		15,500	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 $575.81, 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 $576.19 to $577.12, 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 $577.74, 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/ Erin J. Kerber	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)

Source: View Original Filing on SEC EDGAR