Foss–Watson group updates 14.5% Credit Acceptance (CACC) stake and recent share sale

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Form Type

SCHEDULE 13D/A

Rhea-AI Filing Summary

Credit Acceptance Corporation’s major shareholder group led by various Foss family trusts and Jill Foss Watson has updated its Schedule 13D/A to reflect current holdings and a recent sale. Mrs. Watson may be deemed to beneficially own 1,519,309 shares, representing 14.5% of the company’s common stock.

The Donald A. Foss 2009 Remainder Trust holds 796,323 shares (7.6%), and the Donald A. Foss 2010 Remainder Trust holds 493,319 shares (4.7%). Several additional family trusts collectively hold smaller blocks. On April 21, 2026, the Jill Foss Watson Living Trust sold 9,450 shares in the open market at a weighted average price of $538.26 per share.

Ownership percentages are based on 10,460,071 shares outstanding as of April 23, 2026, as reported in the issuer’s Form 10‑Q. The filing states the group has no current plans for corporate control actions, but may buy or sell shares over time depending on market conditions.

Key Figures

Mrs. Watson beneficial ownership: 1,519,309 shares (14.5%) 2009 Remainder Trust holding: 796,323 shares (7.6%) 2010 Remainder Trust holding: 493,319 shares (4.7%) +5 more

8 metrics

Mrs. Watson beneficial ownership 1,519,309 shares (14.5%) Aggregate beneficial ownership of Credit Acceptance common stock

2009 Remainder Trust holding 796,323 shares (7.6%) Donald A. Foss 2009 Remainder Trust stake in common stock

2010 Remainder Trust holding 493,319 shares (4.7%) Donald A. Foss 2010 Remainder Trust stake in common stock

Living Trust holding 92,107 shares (0.9%) Jill Foss Watson Living Trust stake in common stock

Irrevocable Trust holding 53,846 shares Jill Foss Watson Irrevocable Trust stake in common stock

Grandchildren’s Trust holding 83,714 shares (0.8%) Karol A. Foss Irrevocable Grandchildren’s Trust stake

Shares outstanding 10,460,071 shares Credit Acceptance common stock outstanding as of April 23, 2026

Recent sale by Living Trust 9,450 shares at $538.26 Open‑market sale on April 21, 2026, weighted average price per share

Key Terms

beneficially own, Schedule 13D/A, sole voting power, dispositive power, +2 more

6 terms

beneficially own financial

"Mrs. Watson may be deemed to beneficially own an aggregate of 1,519,309 shares"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

Schedule 13D/A regulatory

"This /A is being filed to report a change in the shares beneficially owned"

A Schedule 13D/A is an amended disclosure filed with regulators by an investor who already reported owning more than 5% of a company’s shares and needs to update their original filing. Think of it as a public status update that tells markets whether the investor’s ownership, plans, or source of funds have changed; such updates matter because they can signal a push for control, major strategic moves, or increased pressure on management, which can affect stock prices.

sole voting power financial

"Number of Shares Beneficially Owned by Each Reporting Person With: | 7 | Sole Voting Power"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

dispositive power financial

"Jill Foss Watson- Mrs. Watson has sole voting power over 229,667 shares, shared voting power over 1,289,642 shares, sole dispositive power over 229,667 shares"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

pecuniary benefit financial

"beneficiaries ... ultimately receive the pecuniary benefit of dividends from, or the proceeds from the sale of, the shares"

Joint Filing Agreement regulatory

"Item 7. | Material to be Filed as Exhibits. | Joint Filing Agreement (included as Exhibit A below)"

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Available on EDGAR 06/05/2026 - 04:30 PM Accepted by SEC EDGAR 06/05/2026 - 04:30 PM

FAQ

How much of Credit Acceptance (CACC) does Jill Foss Watson beneficially own?

Jill Foss Watson may be deemed to beneficially own 1,519,309 shares, or 14.5% of Credit Acceptance’s common stock. This includes shares held directly and through several family trusts where she serves as trustee or co‑trustee, based on 10,460,071 shares outstanding.

What are the largest trust holdings in Credit Acceptance (CACC) in this filing?

The Donald A. Foss 2009 Remainder Trust holds 796,323 shares, and the 2010 Remainder Trust holds 493,319 shares. These stakes represent 7.6% and 4.7% of Credit Acceptance’s common stock, respectively, calculated using 10,460,071 shares outstanding as of April 23, 2026.

What recent stock sale by the Foss/Watson group is disclosed for CACC?

On April 21, 2026, the Jill Foss Watson Living Trust sold 9,450 Credit Acceptance shares. The sale occurred in the open market at a weighted average price of $538.26 per share. The filing notes no other reportable transactions by the group in the prior 60 days.

Does the Foss/Watson group plan to take control actions at Credit Acceptance (CACC)?

The filing states the reporting persons currently have no specific plans for control-related corporate actions. They expressly disclaim plans for mergers, major asset sales, board changes, capitalization shifts, or similar transactions, though they may buy or sell shares for investment purposes over time.

How were ownership percentages in this CACC Schedule 13D/A calculated?

Each percentage is based on 10,460,071 Credit Acceptance shares outstanding as of April 23, 2026. That share count comes from the issuer’s Form 10‑Q filed on May 5, 2026 and is used consistently to compute all beneficial ownership percentages in the filing.

Who has investment discretion over the main trust holdings in Credit Acceptance (CACC)?

Co‑trustee Allan Apple has investment discretion over the Donald A. Foss 2009 and 2010 Remainder Trusts. Jill Foss Watson shares voting power on these trusts and has sole voting and dispositive power on several other family trusts and her directly held shares.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 13)

Credit Acceptance Corporation

(Name of Issuer)

Common Stock

(Title of Class of Securities)

225310101

(CUSIP Number)

Bradley J. Wyatt
Greenberg Traurig, LLP, 2375 E Camelback Road, Suite 800
Phoenix, AZ, 85016
602-445-8057

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

06/05/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

Item 1.

Security and Issuer

(a)

Title of Class of Securities:

Common Stock

(b)

Name of Issuer:

Credit Acceptance Corporation

(c)

Address of Issuer's Principal Executive Offices:

25505 West Twelve Mile Road, Southfield, MICHIGAN , 48034-8339.

Item 1 Comment:

Explanatory Note: This Schedule 13D Amendment No. 13 is being filed to reflect (1) a change in addresses of the Reporting Persons, and (2) the disposition by the Reporting Persons of shares of the Issuer's common stock. Previously, Mrs. Watson has reported the shares held on behalf of the Jill Foss Watson 2014 Children's Trust FBO Gwyneth Ellen Watson and the Jill Foss Watson 2014 Children's Trust FBO Duncan Todd Watson. Mrs. Watson's spouse, Mr. Todd Watson, serves as sole trustee of those trusts. Mrs. Watson is no longer reporting beneficial ownership on behalf of the shares held by those trusts as she no longer has influence over investment decisions on behalf of the trusts.

Item 2.

Identity and Background

(a)

This statement is filed jointly by the Donald A. Foss 2009 Remainder Trust, the Donald A. Foss 2010 Remainder Trust, the Jill Foss Watson Living Trust, the Karol A. Foss Irrevocable Grandchildren's Trust, and the Jill Foss Watson Irrevocable Trust, (collectively, the "Trusts"), and Jill Foss Watson, (together with the Trusts, the "Reporting Persons").

(b)

The principal office of the Donald A. Foss 2009 Remainder Trust and the Donald A. Foss 2010 Remainder Trust is 255 E Brown Street, Suite 200, Birmingham, MI 48009. The principal office of Mrs. Watson, the Jill Foss Watson Living Trust, the Jill Foss Watson Irrevocable Trust, the Karol A. Foss Irrevocable Grandchildren's Trust is C/O UBS Financial Services Inc., 1000 Harbor Blvd., 3rd Floor, Weehawken, New Jersey 07086.

(c)

Mrs. Watson is principally responsible as trustee of the Trusts, except for the Jill Foss Watson Irrevocable Trust.

(d)

During the last five (5) years, none of the Trusts nor Mrs. Watson has been a convicted in a criminal proceeding.

(e)

During the last five (5) years, none of the Trusts nor Mrs. Watson has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

(f)

Each of the Trusts are established under the laws of the State of Michigan or as otherwise indicated in this report. Mrs. Watson is a citizen of the United States of America.

Item 3.

Source and Amount of Funds or Other Consideration

Not applicable.

Item 4.

Purpose of Transaction

This Schedule 13D/A is being filed to report a change in the shares beneficially owned by the Reporting Persons. The Reporting Persons intend to evaluate on an ongoing basis the investments in the Issuer and their options with respect to such investments. The Reporting Persons may from time to time, acquire additional common stock from time to time for investment purposes if market conditions are favorable, in the open market, in privately negotiated transactions or otherwise. The Reporting Persons may also dispose of some or all of the Issuer's common stock that the Reporting Persons beneficially own, periodically, by public or private sale (registered or unregistered and with or without the simultaneous sale of newly-issued common stock by the Issuer), gift, expiration of options, forfeiture of restricted shares or otherwise, including, without limitation, sales of common stock pursuant to Rule 144 under the Securities Act of 1933, as amended, or otherwise. The Reporting Persons reserve the right not to acquire common stock at any given time and not to dispose of all or part of common stock the Reporting Persons may own at any given time if they determine such acquisition or disposal is not in their best interests at the time in question. Other than as described above, the Reporting Persons does not have any current plans or proposals which relate to, or would result in, (a) any acquisition or disposition of securities of the Issuer, (b) any extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries, (c) any sale or transfer of a material amount of assets of the Issuer or any of its subsidiaries, (d) any change in the present board of directors or management of the Issuer, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the Board, (e) any material change in the Issuer's present capitalization or dividend policy, (f) any other material change in the Issuer's business or corporate structure, (g) any change in the Issuer's articles of incorporation or bylaws or other actions which may impede the acquisition of control of the Issuer by any person, (h) causing a class of securities of the Issuer to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association, (i) a class of the Issuer's equity securities becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934, as amended, or (j) any action similar to those enumerated above.

Item 5.

Interest in Securities of the Issuer

(a)

The Donald A. Foss 2009 Remainder Trust directly holds 796,323 shares, which represents 7.6% of the common stock of the Issuer; the Donald A. Foss 2010 Remainder Trust directly holds 493,319 shares, which represents 4.7% of the common stock of the Issuer; the Jill Foss Watson Living Trust directly holds 92,107 shares, which represents 0.9% of common stock of the Issuer; the Jill Foss Watson Irrevocable Trust directly holds 53,846 shares, which represents 0.5% of common stock of the Issuer; and the Karol A. Foss Irrevocable Grandchildren's Trust holds 83,714 shares, which represents 0.8% of common stock of the Issuer. Mrs. Watson may be deemed to beneficially own an aggregate of 1,519,309 shares, which represents 14.5% of common stock of the Issuer by virtue of her capacity as trustee/co-trustee of the Trusts.

(b)

The Donald A. Foss 2009 Remainder Trust - Mrs. Watson shares voting power over 766,323 shares as trustee; provided, that Allan Apple, co-trustee, retains investment discretion over the shares. The Donald A. Foss 2010 Remainder Trust - Mrs. Watson shares voting power over 493,319 shares as trustee; provided, that Allan Apple, co-trustee, retains investment discretion over the shares. Jill Foss Watson Living Trust - Mrs. Watson has sole voting and dispositive power over 92,107 shares as trustee. Jill Foss Watson Irrevocable Trust- Mr. Watson has sole voting and dispositive power over 53,846 shares as trustee. Mrs. Watson may be deemed to have beneficial ownership of these shares due to her relationship with Mr. Watson. Karol A. Foss Irrevocable Grandchildren's Trust - Mrs. Watson has sole voting and dispositive power over 83,714 shares as trustee. Jill Foss Watson- Mrs. Watson has sole voting power over 229,667 shares, shared voting power over 1,289,642 shares, sole dispositive power over 229,667 shares, and shared dispositive power over 0 shares.

(c)

On April 21, 2026, the Jill Foss Watson Living Trust sold an aggregate of 9,450 shares of common stock in the open market at a weighted average price of $538.26 per share. None of the other Reporting Persons effected any transactions in shares of common stock of the Issuer during the past 60 days.

(d)

The respective beneficiaries of the Donald A. Foss 2009 Remainder Trust, the Donald A. Foss 2010 Remainder Trust, the Karol A. Foss Irrevocable Grandchildren's Trust, and the Jill Foss Watson Irrevocable Trust ultimately receive the pecuniary benefit of dividends from, or the proceeds from the sale of, the shares held in each respective trust.

(e)

Not applicable.

Item 6.

Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer

Allan Apple is co-trustee of The Donald A. Foss 2009 Remainder Trust and The Donald A. Foss 2010 Remainder Trust and has investment discretion with regard to the assets of the trusts, including the shares of the Issuer.

Item 7.

Material to be Filed as Exhibits.

Joint Filing Agreement (included as Exhibit A below)

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

The Donald A. Foss 2009 Remainder Trust

Signature:	/s/ Jill Foss Watson
Name/Title:	Jill Foss Watson/Trustee
Date:	06/05/2026

The Donald A. Foss 2010 Remainder Trust

Signature:	/s/ Jill Foss Watson
Name/Title:	Jill Foss Watson/Trustee
Date:	06/05/2026

Jill Foss Watson Living Trust

Signature:	/s/ Jill Foss Watson
Name/Title:	Jill Foss Watson/Trustee
Date:	06/05/2026

Jill Foss Watson Irrevocable Trust

Signature:	/s/ Todd Watson
Name/Title:	Todd Watson/Trustee
Date:	06/05/2026

Karol A. Foss Irrevocable Grandchildren's Trust

Signature:	/s/ Jill Foss Watson
Name/Title:	Jill Foss Watson/Trustee
Date:	06/05/2026

Jill Foss Watson

Signature:	/s/ Jill Foss Watson
Name/Title:	Jill Foss Watson, Individually
Date:	06/05/2026

Source: View Original Filing on SEC EDGAR