Credit Acceptance (CACC) director sells 4,000 shares after option exercise

Rhea-AI Filing Summary

CREDIT ACCEPTANCE CORP director Kenneth Booth reported an option exercise and related share sale. He exercised options to acquire 4,000 shares of Common Stock at $333.94 per share, then sold 4,000 shares in an open-market transaction at $574.00 per share on the same date.

Following these transactions, Booth directly owns 22,831.9 shares of Common Stock and continues to hold employee stock options covering 110,000 underlying shares of Common Stock with a $390.39 exercise price, expiring on January 31, 2028. The filing reflects a routine exercise-and-sell liquidity event while maintaining a sizable equity position.

Insights

Equity analyst

Director exercised options, sold 4,000 shares, retains large option stake.

Director Kenneth Booth exercised options to acquire 4,000 shares of CREDIT ACCEPTANCE CORP Common Stock at an effective price of $333.94 per share, then sold 4,000 shares at $574.00 per share in an open-market transaction on May 29, 2026.

This pattern is a classic exercise-and-sell event, turning an existing derivative award into cash rather than increasing overall equity exposure. After the sale, Booth still directly holds 22,831.9 shares plus employee stock options over 110,000 underlying shares at a $390.39 exercise price expiring on January 31, 2028.

The net effect is a modest reduction of current share holdings alongside a continuing, sizable option-based exposure. With only 4,000 shares sold and substantial options remaining, the activity appears routine, and its significance depends on the company’s wider share base, which is not detailed in this data.

Insider Trade Summary 10b5-1

Net Seller: 4,000 shares ($2,296,000)

Net Sell 4 txns

Insider Booth Kenneth

Role null

Sold 4,000 shs ($2.30M)

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	$574.00	$2.30M
holding	Employee Stock Option (right to buy)	--	--	--

Holdings After Transaction: Employee Stock Option (right to buy) — 14,000 shares (Direct, null); Common Stock — 26,831.9 shares (Direct, null)

Footnotes (1)

Key Figures

Shares sold: 4,000 shares Sale price: $574.00 per share Option exercise price: $333.94 per share +4 more

7 metrics

Shares sold 4,000 shares Common Stock sold in open market at $574.00 on May 29, 2026

Sale price $574.00 per share Price for 4,000 Common Stock shares sold

Option exercise price $333.94 per share Effective price for 4,000 shares acquired via option exercise

Shares after sale 22,831.9 shares Total Common Stock directly owned following the reported transactions

Remaining option exercise price $390.39 per share Exercise price on remaining employee stock options

Remaining option underlying shares 110,000 shares Underlying Common Stock tied to remaining employee stock options

Net buy/sell direction Net-sell of 4,000 shares transactionSummary netBuySellShares and netBuySellDirection

Key Terms

Employee Stock Option (right to buy), open-market sale, derivative exercise/conversion, net-sell

4 terms

Employee Stock Option (right to buy) financial

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

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.

derivative exercise/conversion financial

"transaction_action: "derivative exercise/conversion""

net-sell financial

"transactionSummary: "netBuySellDirection": "net-sell""

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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^*

Booth Kenneth

(Last) (First) (Middle)

25505 WEST TWELVE MILE ROAD

(Street)

SOUTHFIELD MICHIGAN 48034

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/29/2026

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	05/29/2026		M		4,000	A	$333.94	26,831.9	D
Common Stock	05/29/2026		S		4,000	D	$574	22,831.9	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	05/29/2026		M			4,000	12/30/2024	12/30/2026	Common Stock	4,000	$0	14,000	D
Employee Stock Option (right to buy)	$390.39							04/28/2025	01/31/2028	Common Stock	110,000		110,000	D

Explanation of Responses:

Remarks:

	/s/ Kenneth S. Booth	06/02/2026
	** 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 did CREDIT ACCEPTANCE CORP (CACC) director Kenneth Booth report in this Form 4?

Director Kenneth Booth reported exercising options for 4,000 CREDIT ACCEPTANCE CORP shares and selling 4,000 shares in an open-market transaction. The filing shows both the option exercise price and the sale price, plus his remaining direct share and option holdings after these transactions.

How many CREDIT ACCEPTANCE CORP (CACC) shares did Kenneth Booth sell and at what price?

Kenneth Booth sold 4,000 shares of CREDIT ACCEPTANCE CORP Common Stock at a price of $574.00 per share. This open-market sale occurred on May 29, 2026 and followed the exercise of stock options covering the same number of underlying shares.

What option exercise did Kenneth Booth disclose for CREDIT ACCEPTANCE CORP (CACC)?

Booth disclosed exercising employee stock options that provided 4,000 CREDIT ACCEPTANCE CORP Common Stock shares at an exercise price of $333.94 per share. This derivative exercise converted part of his option awards into actual shares before the same-day sale of those 4,000 shares.

How many CREDIT ACCEPTANCE CORP (CACC) shares does Kenneth Booth hold after the reported transactions?

After these transactions, Kenneth Booth directly holds 22,831.9 shares of CREDIT ACCEPTANCE CORP Common Stock. The Form 4 also indicates he continues to own employee stock options linked to additional underlying shares, giving him ongoing equity exposure beyond his current shareholdings.

What option position does Kenneth Booth retain in CREDIT ACCEPTANCE CORP (CACC) after this Form 4?

Booth retains employee stock options over 110,000 underlying CREDIT ACCEPTANCE CORP Common Stock shares with a $390.39 exercise price, expiring January 31, 2028. This remaining derivative position represents a significant potential future equity stake if those options are exercised before expiration.

Does this CREDIT ACCEPTANCE CORP (CACC) Form 4 show a net buy or net sale of shares?

The Form 4 reflects a net sale, with 4,000 CREDIT ACCEPTANCE CORP shares sold after an option exercise for the same amount. Overall, the transactionSummary characterizes the activity as net-sell, while Booth still maintains both direct share ownership and a sizable option position.