CREDIT ACCEPTANCE (CACC) COO sells 3,000 shares after option exercise

Rhea-AI Filing Summary

CREDIT ACCEPTANCE CORP Chief Operating Officer Jonathan Lum exercised stock options and sold shares on the same day. He exercised options to acquire 3,000 shares of common stock at $333.94 per share, then executed an open-market sale of 3,000 shares at $535.00 per share. After these transactions, he directly holds 31,608.6 common shares and 28,500 employee stock options remain outstanding.

Insider Trade Summary 10b5-1

Net Seller: 3,000 shares ($1,605,000)

Net Sell 3 txns

Insider LUM JONATHAN

Role Chief Operating Officer

Sold 3,000 shs ($1.60M)

Type	Security	Shares	Price	Value
Exercise	Employee Stock Option (right to buy)	3,000	$0.00	--
Exercise	Common Stock	3,000	$333.94	$1.00M
Sale	Common Stock	3,000	$535.00	$1.60M

Holdings After Transaction: Employee Stock Option (right to buy) — 28,500 shares (Direct, null); Common Stock — 34,608.6 shares (Direct, null)

Footnotes (1)

Key Figures

Shares sold: 3,000 shares Sale price: $535.00 per share Options exercised: 3,000 shares +4 more

7 metrics

Shares sold 3,000 shares Open-market sale of common stock on 2026-04-20

Sale price $535.00 per share Price for 3,000 common shares sold

Options exercised 3,000 shares Common stock acquired via option exercise on 2026-04-20

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

Shares held after 31,608.6 shares Direct common stock ownership following transactions

Options remaining 28,500 options Employee stock options outstanding after 3,000 exercised

Derivative expiration 2026-12-30 Expiration date of the employee stock option grant

Key Terms

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

"transaction_action": "derivative exercise/conversion""

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.

Form 4 Insider Transactions: What Each Field Means →

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)
04/20/2026

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	04/20/2026		M		3,000	A	$333.94	34,608.6	D
Common Stock	04/20/2026		S		3,000	D	$535	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	04/20/2026		M			3,000	12/30/2024	12/30/2026	Common Stock	3,000	$0	28,500	D

Explanation of Responses:

Remarks:

	/s/ Jonathan L. Lum	04/22/2026
	** 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 CACC executive Jonathan Lum report?

Jonathan Lum reported an exercise-and-sale sequence involving 3,000 shares of CREDIT ACCEPTANCE CORP common stock. He exercised employee stock options for 3,000 shares and then sold 3,000 shares in an open-market transaction on the same date, keeping his overall share count stable.

How many CREDIT ACCEPTANCE CORP (CACC) shares did the COO sell?

The Chief Operating Officer sold 3,000 shares of CREDIT ACCEPTANCE CORP common stock. The transaction was coded as an open-market sale at a reported price of $535.00 per share, according to the Form 4 insider trading report data provided.

At what price did the CACC COO exercise his stock options?

He exercised employee stock options covering 3,000 shares of CREDIT ACCEPTANCE CORP common stock at a conversion or exercise price of $333.94 per share. These options were described as an "Employee Stock Option (right to buy)" in the Form 4 data.

How many CREDIT ACCEPTANCE CORP shares does the COO own after the trade?

After the reported transactions, the COO directly owns 31,608.6 shares of CREDIT ACCEPTANCE CORP common stock. This figure reflects his holdings following the exercise of 3,000 options and the same-day open-market sale of 3,000 common shares.

How many employee stock options remain for the CACC COO after exercising?

Following the exercise of 3,000 options, 28,500 employee stock options remain outstanding for the COO. These options are labeled as "Employee Stock Option (right to buy)" and relate to underlying CREDIT ACCEPTANCE CORP common stock.