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Credit Acceptance (CACC) CTO sells 2,306 shares after option exercise

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Credit Acceptance Corp Chief Transformation Officer Nicholas J. Elliott reported an option exercise and related share sales in company stock. On June 26, 2026, he exercised 2,306 Employee Stock Options at an exercise price of $333.94 per share, receiving the same number of common shares.

That same day, he executed multiple open-market sales totaling 2,306 shares of Common Stock at weighted average prices generally between about $625 and $635 per share, across several price ranges noted in the footnotes. After these transactions, he directly held 23,203.3 shares of Common Stock and indirectly held 325 shares through the company’s 401(k) Profit Sharing Plan and Trust as of June 24, 2026.

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Insider Elliott Nicholas J
Role Chief Transformation Officer
Sold 2,306 shs ($1.45M)
Type Security Shares Price Value
Exercise Employee Stock Option (right to buy) 2,306 $0.00 --
Exercise Common Stock 2,306 $333.94 $770K
Sale Common Stock 173 $625.29 $108K
Sale Common Stock 449 $627.44 $282K
Sale Common Stock 683 $628.94 $430K
Sale Common Stock 17 $629.78 $11K
Sale Common Stock 360 $631.29 $227K
Sale Common Stock 324 $632.81 $205K
Sale Common Stock 180 $633.93 $114K
Sale Common Stock 120 $634.83 $76K
holding Common Stock -- -- --
Holdings After Transaction: Employee Stock Option (right to buy) — 0 shares (Direct, null); Common Stock — 23,203.3 shares (Direct, null); Common Stock — 325 shares (Indirect, By 401(k) Trust)
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 $625.00 to $625.93, 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 $627.23 to $627.84, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $628.64 to $629.30, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $630.97 to $631.52, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $632.05 to $633.00, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $633.62 to $634.32, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $634.83 to $634.84, inclusive. Held in the Credit Acceptance Stock Fund of the Credit Acceptance Corporation 401(k) Profit Sharing Plan and Trust as of June 24, 2026, according to the Plan trustee.
Shares sold 2,306 shares Total open-market sales of Common Stock on June 26, 2026
Option exercise shares 2,306 shares Employee Stock Options converted into Common Stock on June 26, 2026
Option exercise price <money>$333.94</money> per share Exercise price for Employee Stock Option (right to buy)
Representative sale price <money>$634.83</money> per share One reported weighted average sale price for Common Stock
Direct holdings after transactions 23,203.3 shares Common Stock directly owned following June 26, 2026 transactions
Indirect 401(k) holdings 325 shares Shares in Credit Acceptance Stock Fund as of June 24, 2026
Weighted average price ranges <money>$625.00–$634.84</money> Ranges for multiple sale tranches noted in footnotes
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)""
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.
derivative exercise/conversion financial
"transaction_action": "derivative exercise/conversion""
401(k) Profit Sharing Plan and Trust financial
"401(k) Profit Sharing Plan and Trust as of June 24, 2026"
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
Elliott Nicholas J
(Last)(First)(Middle)
25505 WEST TWELVE MILE RD
(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)
Director10% Owner
XOfficer (give title below)Other (specify below)
Chief Transformation Officer
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
06/26/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock06/26/2026M2,306A$333.9423,203.3D
Common Stock06/26/2026S173D$625.29(1)23,030.3D
Common Stock06/26/2026S449D$627.44(2)22,581.3D
Common Stock06/26/2026S683D$628.94(3)21,898.3D
Common Stock06/26/2026S17D$629.7821,881.3D
Common Stock06/26/2026S360D$631.29(4)21,521.3D
Common Stock06/26/2026S324D$632.81(5)21,197.3D
Common Stock06/26/2026S180D$633.93(6)21,017.3D
Common Stock06/26/2026S120D$634.83(7)20,897.3D
Common Stock325IBy 401(k) Trust(8)
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Employee Stock Option (right to buy)$333.9406/26/2026M2,30612/30/202412/30/2026Common Stock2,306$00D
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 $625.00 to $625.93, 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 $627.23 to $627.84, inclusive.
3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $628.64 to $629.30, inclusive.
4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $630.97 to $631.52, inclusive.
5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $632.05 to $633.00, inclusive.
6. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $633.62 to $634.32, inclusive.
7. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $634.83 to $634.84, inclusive.
8. Held in the Credit Acceptance Stock Fund of the Credit Acceptance Corporation 401(k) Profit Sharing Plan and Trust as of June 24, 2026, according to the Plan trustee.
Remarks:
/s/ Nicholas J. Elliott06/30/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider activity did CACC Chief Transformation Officer Nicholas J. Elliott report?

Nicholas J. Elliott reported exercising 2,306 Employee Stock Options and selling 2,306 shares of Credit Acceptance Corp common stock in multiple open-market transactions on June 26, 2026, according to his Form 4 insider trading disclosure.

How many Credit Acceptance (CACC) shares did Nicholas J. Elliott sell and at what prices?

He sold 2,306 shares of CACC common stock in several open-market trades at weighted average prices within ranges generally between about $625 and $635 per share, as detailed in multiple price-range footnotes in the Form 4 filing.

What stock options did the CACC executive exercise in this Form 4 filing?

Nicholas J. Elliott exercised Employee Stock Options covering 2,306 shares of Credit Acceptance Corp common stock at an exercise price of $333.94 per share, converting the derivative position into common shares as reported in the non-derivative and derivative transaction entries.

How many Credit Acceptance (CACC) shares does Nicholas J. Elliott hold after these transactions?

Following the reported transactions, he directly holds 23,203.3 shares of Credit Acceptance Corp common stock and indirectly holds 325 shares through the Credit Acceptance Stock Fund of the company’s 401(k) Profit Sharing Plan and Trust as of June 24, 2026.

What is the role of the 401(k) Profit Sharing Plan in Nicholas J. Elliott’s CACC holdings?

A portion of his interest in CACC is held indirectly through the Credit Acceptance Stock Fund of the company’s 401(k) Profit Sharing Plan and Trust, which held 325 shares for his benefit as of June 24, 2026, according to information from the plan trustee.

Does the Form 4 for CACC detail how the reported sale prices were calculated?

Yes. Several footnotes state that the sale prices are weighted average prices, with the underlying transactions executed at multiple prices within specified ranges, and the insider offers to provide full trade-by-trade detail upon request to the company, shareholders, or SEC staff.