Credit Acceptance (CACC) Chief Sales Officer Exercises Options, Sells Shares
Rhea-AI Filing Summary
Daniel A. Ulatowski, Chief Sales Officer of Credit Acceptance Corporation (CACC), reported option exercises and open-market sales on 08/22/2025 and 08/25/2025. He exercised employee stock options to acquire 1,505 shares on 08/22/2025 at an exercise price of $333.94 and 2,139 shares on 08/25/2025 at the same exercise price. He sold a total of 3,697 shares across multiple transactions at weighted average prices ranging from about $507.00 to $510.39. The filing discloses 28,290 unvested restricted stock units and additional shares held indirectly: 4,000 shares in the company 401(k) fund and 4,000 owned of record by the Ulatowski living trust.
Positive
- Acquired shares via option exercise: exercised 1,505 and 2,139 options at $333.94, increasing vested share ownership.
- Significant deferred equity: holds 28,290 unvested restricted stock units under the company plan, aligning with long-term incentives.
Negative
- Open-market sales of 3,697 shares on 08/22/2025 and 08/25/2025 at weighted average prices between $507.00 and $510.39, representing monetization of recently acquired shares.
Insights
TL;DR: Insider exercised options and sold a modest block of shares shortly after exercise, typical liquidity activity.
The report shows Mr. Ulatowski exercised two option tranches totaling 3,644 options (1,505 and 2,139) at an exercise price of $333.94, converting to the same number of shares. He concurrently sold 3,697 shares in multiple transactions at weighted average prices in the low-$500s, indicating near-immediate partial monetization of exercised shares. The filing also highlights 28,290 unvested RSUs, which represent a sizeable deferred equity holding. For investors, this is a routine Section 16 disclosure showing exercise and sales; there is no indication of material governance or compensation changes in this filing.
TL;DR: Activity is compliance-oriented and compensation-related, not a governance red flag on its face.
The Form 4 details standard transactions tied to equity compensation: option exercises at the stated strike and sales at market-weighted prices. The presence of a large number of unvested RSUs (28,290) aligns executive incentives with long-term ownership. Indirect holdings via the 401(k) fund and a living trust are disclosed, meeting reporting norms. No departures, new arrangements, or other governance events are disclosed here.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (right to buy) | 2,139 | $0.00 | -- |
| Exercise | Common Stock | 2,139 | $333.94 | $714K |
| Sale | Common Stock | 1,784 | $508.79 | $908K |
| Sale | Common Stock | 355 | $510.38 | $181K |
| Sale | Common Stock | 53 | $508.50 | $27K |
| Exercise | Employee Stock Option (right to buy) | 1,505 | $0.00 | -- |
| Exercise | Common Stock | 1,505 | $333.94 | $503K |
| Sale | Common Stock | 1,392 | $507.17 | $706K |
| Sale | Common Stock | 113 | $508.35 | $57K |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Includes 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $507.00 to $507.92, 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $508.05 to $508.75, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $508.65 to $509.04, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $510.26 to $510.39, inclusive. Shares were held in the Credit Acceptance Stock Fund of the Credit Acceptance Corporation 401(k) Profit Sharing Plan and Trust. 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.
