Credit Acceptance Corp (CACC) chief sales officer sells shares after option exercise

Rhea-AI Filing Summary

Credit Acceptance Corp’s chief sales officer, Daniel A. Ulatowski, reported an insider transaction dated 12/10/2025. He exercised employee stock options for 3,000 shares of common stock at $333.94 per share and, on the same date, sold 3,000 shares of common stock at $475.66 per share.

Following these transactions, he beneficially owns 28,290 unvested restricted stock units granted under the company’s incentive compensation plan, 4,000 shares held indirectly through the D.&B. Ulatowski Living Trust, and 33,000 employee stock options.

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

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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^*

ULATOWSKI DANIEL A.

(Last) (First) (Middle)

25505 WEST TWELVE MILE ROAD

(Street)

SOUTHFIELD MI 48034

(City) (State) (Zip)

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 Sales Officer

3. Date of Earliest Transaction (Month/Day/Year)
12/10/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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	12/10/2025		M		3,000	A	$333.94	31,290	D
Common Stock	12/10/2025		S		3,000	D	$475.66	28,290(1)	D
Common Stock								4,000	I	By trust.(2)

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	12/10/2025		M			3,000	12/30/2024	12/30/2026	Common Stock	3,000	$0	33,000	D

Explanation of Responses:

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.

2. 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.

Remarks:

	/s/ Daniel A. Ulatowski	12/12/2025
	** 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.

FAQ

What insider transaction did Credit Acceptance Corp (CACC) report for Daniel A. Ulatowski?

Credit Acceptance Corp reported that its chief sales officer, Daniel A. Ulatowski, exercised employee stock options for 3,000 shares of common stock and sold 3,000 shares of common stock on 12/10/2025.

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

On 12/10/2025, Daniel A. Ulatowski sold 3,000 shares of Credit Acceptance common stock at a price of $475.66 per share.

What stock options did Daniel A. Ulatowski exercise in the Credit Acceptance (CACC) Form 4?

He exercised an employee stock option3,000 shares of Credit Acceptance common stock at an exercise price of $333.94 per share. The option was exercisable starting 12/30/2024 and was scheduled to expire on 12/30/2026.

What Credit Acceptance (CACC) equity awards does Daniel A. Ulatowski hold after the reported transaction?

After the transaction, Daniel A. Ulatowski beneficially owns 28,290 unvested restricted stock units, 4,000 shares held indirectly through a trust, and 33,000 employee stock options.

How are the 4,000 indirectly owned Credit Acceptance (CACC) shares held for Daniel A. Ulatowski?

The 4,000 indirectly owned shares are held of record by Daniel A. Ulatowski and his spouse, Barbara Ulatowski, as trustees of the D.&B. Ulatowski Living Trust.

What do Daniel A. Ulatowski’s 28,290 restricted stock units in Credit Acceptance (CACC) represent?

The 28,290 restricted stock units were granted under Credit Acceptance’s incentive compensation plan. Each restricted stock unit represents and has a value equal to one share of common stock of Credit Acceptance Corporation.