CREDIT ACCEPTANCE CORP Insider Trading Activity

Credit Acceptance Corp’s Chief Operating Officer Jonathan Lum reported an exercise-and-sale transaction in company stock.

Rhea-AI Filing Summary

Credit Acceptance Corp’s Chief Operating Officer Jonathan Lum reported an exercise-and-sale transaction in company stock. On May 6, 2026, he exercised employee stock options to acquire 4,000 shares of common stock at $333.94 per share, then completed an open-market sale of 4,000 shares at $550.00 per share. Following these transactions, he holds 31,608.6 shares of common stock directly, so the sale represents a little over ten percent of his direct holdings.

Insider Trade Summary 10b5-1

Exercise and Sale: 4,000 shares ($864K approx. pre-tax spread)

Exercise and Sale 3 txns

Insider LUM JONATHAN

Role Chief Operating Officer

Sold 4,000 shs ($2.20M)

Approx. gross sale proceeds $2.20M

Approx. exercise cost $1.34M

Approx. pre-tax spread $864K

Type	Security	Shares	Price	Value
Exercise	Employee Stock Option (right to buy)	4,000	$0.00	$0.00
Exercise	Common Stock	4,000	$333.94	$1.34M
Sale	Common Stock	4,000	$550.00	$2.20M

Holdings After Transaction: Employee Stock Option (right to buy) — 24,500 contracts (Direct); Common Stock — 31,608.6 shares (Direct)

Key Figures

Shares sold: 4,000 shares Sale price: $550.00 per share Options exercised: 4,000 shares +3 more

6 metrics

Shares sold 4,000 shares Open-market sale of common stock on May 6, 2026

Sale price $550.00 per share Price for 4,000 common shares sold

Options exercised 4,000 shares Employee Stock Option exercise into common stock

Exercise price $333.94 per share Conversion or exercise price of options

Direct holdings after transaction 31,608.6 shares Common stock held directly by COO after sale

Options remaining 24,500 options Employee Stock Option rights to buy common stock after exercise

Key Terms

open-market sale, Employee Stock Option (right to buy), derivative security, exercise price, +1 more

5 terms

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.

Employee Stock Option (right to buy) financial

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

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.

exercise price financial

"conversion_or_exercise_price": "333.9400""

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

non-derivative financial

"transaction_type": "non-derivative""

FAQ

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

What insider transactions did Credit Acceptance (CACC) report for Jonathan Lum?

Credit Acceptance’s COO Jonathan Lum exercised employee stock options for 4,000 common shares at $333.94, then sold 4,000 shares in an open-market transaction at $550.00. After these moves, his direct common stock holdings total 31,608.6 shares.

How many Credit Acceptance (CACC) shares did the COO sell and at what price?

Jonathan Lum sold 4,000 shares of Credit Acceptance common stock in an open-market transaction at $550.00 per share. This sale occurred on May 6, 2026 and followed his exercise of employee stock options for the same number of shares.

What stock options did the Credit Acceptance (CACC) COO exercise?

On May 6, 2026, the COO exercised an Employee Stock Option covering 4,000 underlying common shares at a conversion or exercise price of $333.94 per share. These options were scheduled to expire on December 30, 2026 under the reported grant.

How many Credit Acceptance (CACC) shares does the COO own after this Form 4?

After the reported exercise and sale, Jonathan Lum directly owns 31,608.6 shares of Credit Acceptance common stock. Before selling 4,000 shares, his direct holdings were approximately 35,608.6 shares based on the figures disclosed in the transaction records.

Did the Credit Acceptance (CACC) COO retain any stock options after exercising?

Following the option exercise, the filing shows 24,500 Employee Stock Option rights to buy common stock remaining for the reported grant. These options have a stated exercise price of $333.94 per share and an expiration date of December 30, 2026.

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

Form 4 Insider Transactions: What Each Field Means →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Accepted by SEC EDGAR 05/08/2026 - 04:04 PM EDT 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)
05/06/2026

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	05/06/2026		M		4,000	A	$333.94	35,608.6	D
Common Stock	05/06/2026		S		4,000	D	$550	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	05/06/2026		M			4,000	12/30/2024	12/30/2026	Common Stock	4,000	$0	24,500	D

Explanation of Responses:

Remarks:

	/s/ Jonathan L. Lum	05/08/2026
	** 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)