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4//SEC Filing

Rummler Wendy A 4

Accession 0000885550-26-000027

CIK 0000885550other
View on SEC.govCompany Profile

Filed

Feb 2, 7:00 PM ET

Accepted

Feb 3, 4:15 PM ET

Size

33.8 KB

Accession

0000885550-26-000027

Research Summary

AI-generated summary of this filing

Updated

CACC Chief People Officer Wendy Rummler Exercises Options, Sells Shares

What Happened

  • Wendy A. Rummler, Chief People Officer of Credit Acceptance Corp (CACC), exercised stock options and sold shares in late January 2026. She exercised options to acquire 5,236 shares at $333.94 per share (total exercise cost ≈ $1,748,510) and disposed of shares in multiple open-market transactions, generating roughly $2.87 million in gross proceeds.
  • The transactions listed on the Form 4 occurred primarily on 2026-01-30 (with a tax-withholding disposition on 2026-01-31). Sales executed at prices roughly in the $485–$500 range; one set of shares (581.4) was withheld to cover taxes (tax-withholding disposition).

Key Details

  • Transaction dates: mainly 2026-01-30; tax withholding on 2026-01-31. Filing date: 2026-02-03 (timely; within the 2-business-day Form 4 window).
  • Exercise (code M): 1,173 shares and 4,063 shares exercised at $333.94/share (total acquired 5,236 shares; total exercise cash cost ≈ $1,748,510).
  • Sales (code S) and withholding (code F): multiple open-market sales and a tax-withholding disposition totaling ~5,817.4 shares disposed for aggregate proceeds ≈ $2,873,309.
  • Weighted-average sale prices reported; detailed price ranges per footnotes (sales ranged roughly from $485.00 up to $500.84 across multiple trades).
  • Footnotes: F11 notes shares were withheld to satisfy tax withholding on RSU vesting; F14 indicates the option exercised originates from a 10,000-share option grant exercisable in four annual installments beginning Oct 6, 2023. Several footnotes (F1–F10) explain weighted-average sale-price ranges. Some derivative lines show $0 in proceeds — these reflect the conversion/cancellation of option rights upon exercise.
  • Shares owned after the transactions are not specified in the excerpt of the filing provided.

Context

  • This pattern — exercising options and immediately selling most or all of the acquired shares — is a common "cashless exercise" or partial cashless exercise and is often done to cover the exercise cost and taxes; it is routine and not necessarily a directional vote on the stock.
  • The filing is by an officer (not a >10% owner), and the report appears timely. Retail investors typically view purchases as more informative than routine option exercises followed by sales; here the activity primarily converted options to cash.

Insider Transaction Report

Form 4
Period: 2026-01-30
CREDIT ACCEPTANCE CORPCACC
Rummler Wendy A
Chief People Officer
Transactions
  • Exercise/Conversion

    Common Stock

    2026-01-30$333.94/sh+1,173$391,712→ 21,945 total
  • Sale

    Common Stock

    [F1]
    2026-01-30$500.22/sh−1,173$586,758→ 20,772 total
  • Exercise/Conversion

    Common Stock

    2026-01-30$333.94/sh+4,063$1,356,798→ 24,835 total
  • Sale

    Common Stock

    [F2]
    2026-01-30$485.25/sh−1,040$504,660→ 23,795 total
  • Sale

    Common Stock

    2026-01-30$486.55/sh−110$53,521→ 23,685 total
  • Sale

    Common Stock

    [F3]
    2026-01-30$488.36/sh−280$136,741→ 23,405 total
  • Sale

    Common Stock

    [F4]
    2026-01-30$489.77/sh−391$191,500→ 23,014 total
  • Sale

    Common Stock

    [F5]
    2026-01-30$491.09/sh−210$103,129→ 22,804 total
  • Sale

    Common Stock

    [F6]
    2026-01-30$493.03/sh−567$279,548→ 22,237 total
  • Sale

    Common Stock

    [F7]
    2026-01-30$493.87/sh−370$182,732→ 21,867 total
  • Sale

    Common Stock

    [F8]
    2026-01-30$496.83/sh−498$247,421→ 21,369 total
  • Sale

    Common Stock

    [F9]
    2026-01-30$498.16/sh−425$211,718→ 20,944 total
  • Sale

    Common Stock

    [F10]
    2026-01-30$499.44/sh−172$85,904→ 20,772 total
  • Tax Payment

    Common Stock

    [F11]
    2026-01-31$498.24/sh−581.4$289,677→ 20,190.6 total
  • Exercise/Conversion

    Employee Stock Option (right to buy)

    2026-01-30−1,173→ 15,077 total
    Exercise: $333.94From: 2024-12-30Exp: 2026-12-30→ Common Stock (1,173 underlying)
  • Exercise/Conversion

    Employee Stock Option (right to buy)

    2026-01-30−4,063→ 11,014 total
    Exercise: $333.94From: 2024-12-30Exp: 2026-12-30→ Common Stock (4,063 underlying)
Holdings

  • Common Stock

    [F12]
    (indirect: By Trust)
    2,704

  • Common Stock

    [F13]
    (indirect: By Trust)
    1,722

  • Employee Stock Option (right to buy)

    [F14]
    Exercise: $468.67Exp: 2028-10-06→ Common Stock (10,000 underlying)
    10,000

  • Employee Stock Option (right to buy)

    Exercise: $390.39From: 2025-04-28Exp: 2027-04-28→ Common Stock (1,250 underlying)
    1,250
Footnotes (14)
  • [F1]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $500.00 to $500.84, 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.
  • [F10]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $498.74 to $499.60, inclusive.
  • [F11]Shares withheld to satisfy tax withholding obligations in conjunction with the vesting and settlement of restricted stock units to shares of common stock.
  • [F12]These shares are owned of record by Kevin Rummler, spouse of Wendy A. Rummler, as trustee of the Kevin Rummler Revocable Trust.
  • [F13]These shares are owned of record by Wendy A. Rummler, as trustee of the Wendy A. Rummler Revocable Trust.
  • [F14]The option, initially representing the right to purchase 10,000 shares, is exercisable in four equal annual installments beginning on October 6, 2023, which was the first anniversary of the date on which the option was granted.
  • [F2]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $485.00 to $486.00, inclusive.
  • [F3]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $488.06 to $488.73, inclusive.
  • [F4]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $489.42 to $490.20, inclusive.
  • [F5]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $490.96 to $491.25, inclusive.
  • [F6]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $492.43 to $493.36, inclusive.
  • [F7]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $493.61 to $494.00, inclusive.
  • [F8]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $496.49 to $497.32, inclusive.
  • [F9]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $497.58 to $498.51, inclusive.
Signature
/s/ Wendy A. Rummler|2026-02-03

Documents

1 file

Issuer

CREDIT ACCEPTANCE CORP

CIK 0000885550

→
Entity typeother

Related Parties

1
  • filerCIK 0001916755

Filing Metadata

Form type
4
Filed
Feb 2, 7:00 PM ET
Accepted
Feb 3, 4:15 PM ET
Size
33.8 KB
View on SEC.gov