CREDIT ACCEPTANCE (CACC) CFO exercises options, sells 1,561 shares and retains stake

Rhea-AI Filing Summary

CREDIT ACCEPTANCE CORP Chief Financial Officer D. Jay Martin reported option exercises and related stock sales. On May 18, 2026, he exercised employee stock options to acquire 1,561 shares of Common Stock at an exercise price of $333.94 per share.

That same day he sold 1,561 shares of Common Stock in multiple open-market transactions, including sales at $558.48, $555.95 and $550.01 per share. After these transactions, he directly held 25,963.1 shares of Common Stock.

He also continues to hold an employee stock option covering 2,250 underlying shares of Common Stock at an exercise price of $390.39 per share, expiring on April 28, 2027.

Insights

Equity compensation analyst

CFO exercised options and sold an equal number of shares, a routine liquidity move.

The filing shows CFO D. Jay Martin exercised employee stock options for 1,561 shares at an exercise price of $333.94 per share and sold the same number of shares in several open-market trades around the mid-$550 range.

Because the shares sold match the shares acquired through the option exercise, this pattern is typical of an exercise-and-sell transaction used to monetize option value. After the trades, he still directly holds 25,963.1 shares plus an option on 2,250 shares at $390.39, so his remaining equity exposure remains substantial.

The footnotes clarify that several reported prices are weighted averages for multiple trades within narrow intraday ranges, which is common for larger orders executed in smaller blocks. There is no mention of tax-withholding or trading plans in the excerpt, so this appears as straightforward discretionary compensation-related activity in this snapshot.

Insider Trade Summary 10b5-1

Net Seller: 1,561 shares ($862,594)

Net Sell 9 txns

Insider Martin Jay D

Role Chief Financial Officer

Sold 1,561 shs ($863K)

Type	Security	Shares	Price	Value
Exercise	Employee Stock Option (right to buy)	1,561	$0.00	--
Exercise	Common Stock	1,561	$333.94	$521K
Sale	Common Stock	498	$550.01	$274K
Sale	Common Stock	237	$551.49	$131K
Sale	Common Stock	266	$552.63	$147K
Sale	Common Stock	363	$554.44	$201K
Sale	Common Stock	117	$555.95	$65K
Sale	Common Stock	80	$558.48	$45K
holding	Employee Stock Option (right to buy)	--	--	--

Holdings After Transaction: Employee Stock Option (right to buy) — 10,500 shares (Direct, null); Common Stock — 27,524.1 shares (Direct, null)

Footnotes (1)

1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $550.00 to $550.03, 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 $551.32 to $551.65, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $552.47 to $552.81, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $554.27 to $555.00, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $555.27 to $556.26, inclusive.

Key Figures

Shares sold: 1,561 shares Sale price example: $558.48/share Exercise price: $333.94/share +3 more

6 metrics

Shares sold 1,561 shares Total common shares sold on May 18, 2026

Sale price example $558.48/share Open-market sale price for 80 shares on May 18, 2026

Exercise price $333.94/share Employee stock option exercise price for 1,561 shares

Shares after transaction 25,963.1 shares Direct common stock holdings following reported trades

Remaining option underlying shares 2,250 shares Underlying common shares for remaining option at $390.39

Remaining option exercise price $390.39/share Exercise price of option expiring April 28, 2027

Key Terms

Employee Stock Option (right to buy), open-market sale, derivative exercise/conversion, weighted average price

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""

weighted average price financial

"The price reported in Column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

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^*

Martin Jay D

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/18/2026

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	05/18/2026		M		1,561	A	$333.94	27,524.1	D
Common Stock	05/18/2026		S		498	D	$550.01(1)	27,026.1	D
Common Stock	05/18/2026		S		237	D	$551.49(2)	26,789.1	D
Common Stock	05/18/2026		S		266	D	$552.63(3)	26,523.1	D
Common Stock	05/18/2026		S		363	D	$554.44(4)	26,160.1	D
Common Stock	05/18/2026		S		117	D	$555.95(5)	26,043.1	D
Common Stock	05/18/2026		S		80	D	$558.48	25,963.1	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	05/18/2026		M			1,561	12/30/2024	12/30/2026	Common Stock	1,561	$0	10,500	D
Employee Stock Option (right to buy)	$390.39							04/28/2025	04/28/2027	Common Stock	2,250		2,250	D

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $550.00 to $550.03, 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.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $551.32 to $551.65, inclusive.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $552.47 to $552.81, inclusive.

4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $554.27 to $555.00, inclusive.

5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $555.27 to $556.26, inclusive.

Remarks:

	/s/ Jay D. Martin	05/20/2026
	** 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 CACC CFO D. Jay Martin report in this Form 4 filing?

He reported exercising employee stock options for 1,561 shares and selling 1,561 shares of Credit Acceptance common stock in open-market transactions. The activity reflects a typical option exercise paired with same-day share sales to realize option value.

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

He sold a total of 1,561 shares of Credit Acceptance common stock. The sales occurred in multiple open-market trades on May 18, 2026, at prices including $558.48, $555.95, $554.44, $552.63, $551.49, and $550.01 per share.

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

He exercised employee stock options at an exercise price of $333.94 per share. The exercise converted option rights into 1,561 shares of common stock, which were then sold in the market at higher prices, locking in the spread between exercise and sale prices.

How many CREDIT ACCEPTANCE CORP shares does the CFO hold after these transactions?

Following the reported trades, he directly holds 25,963.1 shares of Credit Acceptance common stock. This position reflects his remaining equity stake after exercising options and selling 1,561 shares on May 18, 2026, as disclosed in the filing data.

What stock options does the CACC CFO still have after this Form 4?

He continues to hold an employee stock option linked to 2,250 underlying shares of Credit Acceptance common stock. This option has an exercise price of $390.39 per share and an expiration date of April 28, 2027, providing additional potential equity exposure.

Were the CACC CFO’s reported share sale prices single trades or averages?

Several reported sale prices are weighted averages for multiple trades within narrow price ranges. Footnotes state that shares were sold in numerous transactions, with full price breakdowns available on request to the company, shareholders, or SEC staff.