Booth Kenneth 4

What Happened

• Kenneth Booth, a director of Credit Acceptance Corp. (CACC), exercised options to acquire 4,000 shares at an exercise price of $333.94 per share (cost = $1,335,760) on 2026-04-20. He then sold 4,000 shares in an open-market transaction at $534.00 per share, receiving $2,136,000.
• The filing also shows a derivative disposition reported at $0 for 4,000 units — consistent with the exercise/conversion of derivative instruments and the immediate sale of the resulting shares (i.e., a cashless exercise followed by an open-market sale). The transaction resulted in roughly $800,240 in gross proceeds above the exercise cost (pre-tax, before fees).

Key Details

• Transaction date: 2026-04-20.
• Exercise: 4,000 shares at $333.94 → cost $1,335,760.
• Sale: 4,000 shares at $534.00 → gross proceeds $2,136,000.
• Derivative entry: 4,000 units disposed at $0 (reflects conversion/exercise reporting).
• Shares owned after transaction: not reported in the data provided.
• Filing date: 2026-04-22 — appears timely (reported two days after the transaction).
• No 10% owner flag or 10b5-1 plan noted in the provided details.

Context

• This sequence (exercise + immediate sale) is commonly a cashless exercise: the insider exercises options to convert them to stock and then sells shares right away to cover costs, taxes, or to take liquidity. Sales following exercises are routine and do not, by themselves, confirm a change in the insider’s view of the company.
• Figures above are gross amounts (pre-tax and before broker fees).