CACC Insider Ulatowski Exercises Options, Sells 4,000 Shares on 09/11/2025
Rhea-AI Filing Summary
Daniel A. Ulatowski, Chief Sales Officer of Credit Acceptance Corporation (CACC), reported option exercise and share sale transactions dated 09/11/2025. He exercised 4,000 employee stock options at an exercise price of $333.94 and acquired 4,000 shares. The same day, he sold 4,000 shares at $522 per share. After these transactions, he directly beneficially owns 36,000 shares and an additional 28,290 unvested restricted stock units. Separately, 4,000 shares are owned of record by a trust shared with his spouse.
Positive
- Retained stake: Mr. Ulatowski continues to hold 36,000 shares directly plus 28,290 unvested RSUs, maintaining alignment with shareholders
- Timely disclosure: Form 4 reports the exercise and sale transactions and trust ownership, meeting reporting requirements
Negative
- Insider sale: 4,000 shares were sold on 09/11/2025, which may be viewed unfavorably by some investors
- Concentrated transaction: Exercise and same-day sale realized a significant per-share spread ($333.94 exercise vs $522 sale), indicating monetization of equity
Insights
TL;DR: Insider exercised options and sold the resulting shares same day, leaving meaningful retained ownership including RSUs.
Mr. Ulatowski exercised 4,000 options at $333.94 and sold the resulting 4,000 shares at $522, realizing the spread between exercise and sale prices. Post-transaction direct holdings are 36,000 shares plus 28,290 unvested restricted stock units, indicating continued alignment with shareholder value despite the sale. The transaction size is modest relative to typical market caps for publicly traded firms but is material to monitoring insider activity.
TL;DR: Transaction follows standard option exercise and sale; retained equity and RSUs suggest ongoing executive stake.
The filing discloses a same-day exercise-and-sale (transaction codes M and S) for 4,000 shares and reports ownership via a living trust for certain shares. The presence of 28,290 unvested RSUs under the company plan signals that a sizeable portion of compensation remains performance- or time-vested. From a governance perspective, the disclosure is routine and complies with Section 16 timing and reporting requirements.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (right to buy) | 4,000 | $0.00 | -- |
| Exercise | Common Stock | 4,000 | $333.94 | $1.34M |
| Sale | Common Stock | 4,000 | $522.00 | $2.09M |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Consists of 28,290 unvested restricted stock units that were granted under the Company's Incentive Compensation Plan. Each restricted stock unit represents and has a value equal to one share of common stock of Credit Acceptance Corporation. These shares are owned of record by Daniel A. Ulatowski and Barbara Ulatowski, spouse of Mr. Ulatowski, as trustees of the D.&.B. Ulatowski Living Trust.
