CREDIT ACCEPTANCE (CACC) COO exercises options and sells 6,000 shares

Rhea-AI Filing Summary

CREDIT ACCEPTANCE CORP Chief Operating Officer Jonathan Lum reported an exercise-and-sell transaction in company stock. He exercised options to acquire 6,000 shares of Common Stock at $333.94 per share and on the same date sold 6,000 shares at $600.00 per share in an open-market sale.

After these transactions, Lum directly holds 31,608.6 Common shares and 13,500 Employee Stock Options, maintaining a substantial equity position in the company while realizing liquidity from a portion of his holdings.

Insider Trade Summary 10b5-1

Net Seller: 6,000 shares ($3,600,000)

Net Sell 3 txns

Insider LUM JONATHAN

Role Chief Operating Officer

Sold 6,000 shs ($3.60M)

Type	Security	Shares	Price	Value
Exercise	Employee Stock Option (right to buy)	6,000	$0.00	--
Exercise	Common Stock	6,000	$333.94	$2.00M
Sale	Common Stock	6,000	$600.00	$3.60M

Holdings After Transaction: Employee Stock Option (right to buy) — 13,500 shares (Direct, null); Common Stock — 37,608.6 shares (Direct, null)

Footnotes (1)

Key Figures

Shares sold: 6,000 shares Sale price: $600.00 per share Options exercised: 6,000 shares +4 more

7 metrics

Shares sold 6,000 shares Common Stock open-market sale on June 24, 2026

Sale price $600.00 per share Price for 6,000 Common shares sold

Options exercised 6,000 shares Common Stock acquired via option exercise on June 24, 2026

Option strike price $333.94 per share Employee Stock Option exercise price

Shares held after 31,608.6 shares Direct Common Stock holdings following transactions

Options held after 13,500 options Employee Stock Options outstanding after exercise

Option expiration December 30, 2026 Employee Stock Option expiration date

Key Terms

open-market sale, derivative exercise/conversion, Employee Stock Option (right to buy), non-derivative, +1 more

5 terms

open-market sale financial

"Sale in open market or private transaction"

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"

Employee Stock Option (right to buy) financial

"security_title: Employee Stock Option (right to buy)"

non-derivative financial

"transaction_type: non-derivative"

derivative financial

"transaction_type: derivative"

A derivative is a financial contract whose value depends on the price or performance of another asset or measure — for example a stock, index, interest rate, commodity, or currency. Investors use derivatives like insurance or leveraged bets to hedge risk, speculate, or gain exposure without owning the underlying asset; they can protect portfolios but also amplify losses and introduce counterparty and market risk.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/26/2026 - 04:07 PM Accepted by SEC EDGAR 06/26/2026 - 04:06 PM Learn about SEC filing dates

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).

X

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^*

LUM JONATHAN

(Last) (First) (Middle)

25505 WEST TWELVE MILE ROAD

(Street)

SOUTHFIELD MICHIGAN 48034-8334

(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 Operating Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/24/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/24/2026		M		6,000	A	$333.94	37,608.6	D
Common Stock	06/24/2026		S		6,000	D	$600	31,608.6	D

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (right to buy)	$333.94	06/24/2026		M			6,000	12/30/2024	12/30/2026	Common Stock	6,000	$0	13,500	D

Explanation of Responses:

Remarks:

	/s/ Jonathan L. Lum	06/26/2026
	** 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)

FAQ

What insider transaction did CREDIT ACCEPTANCE CORP (CACC) report for Jonathan Lum?

CREDIT ACCEPTANCE CORP reported that Chief Operating Officer Jonathan Lum exercised 6,000 stock options and sold 6,000 Common shares. The sales were open-market transactions executed at a reported price of $600.00 per share on June 24, 2026.

At what prices did Jonathan Lum exercise options and sell CREDIT ACCEPTANCE (CACC) shares?

Jonathan Lum exercised options at a strike price of $333.94 per share and sold 6,000 Common shares at $600.00 per share. This reflects a typical exercise-and-sell pattern where options are converted into shares and then sold in the market.

How many CREDIT ACCEPTANCE (CACC) shares does Jonathan Lum hold after this Form 4?

After the reported transactions, Jonathan Lum directly owns 31,608.6 shares of CREDIT ACCEPTANCE CORP Common Stock. This figure reflects his position following both the 6,000-share option exercise and the same-day 6,000-share open-market sale disclosed in the filing.

What stock options does Jonathan Lum retain in CREDIT ACCEPTANCE (CACC) after the transaction?

Following the exercise, Jonathan Lum holds 13,500 Employee Stock Options with an exercise price of $333.94 per share and an expiration date of December 30, 2026. These options represent additional potential future Common Stock if he chooses to exercise them.

Was Jonathan Lum’s CREDIT ACCEPTANCE (CACC) transaction an open-market sale?

Yes. The Form 4 describes the 6,000-share disposition as an open-market sale, coded “S” and labeled “Sale in open market or private transaction.” This indicates the shares were sold into the market rather than transferred as a gift or for tax withholding.

What role does Jonathan Lum hold at CREDIT ACCEPTANCE CORP (CACC)?

Jonathan Lum is the Chief Operating Officer of CREDIT ACCEPTANCE CORP. His Form 4 filing reflects personal equity activity in the company’s Common Stock and stock options associated with his executive compensation and ownership position.