Martin Jay D 4

What Happened

• Martin Jay D, Chief Financial Officer of Credit Acceptance Corp. (CACC), exercised 3,000 shares via a derivative exercise on 2026-06-24 (cost: $333.94 per share; total $1,001,820) and sold 3,000 shares the same day in multiple open-market transactions, generating total proceeds of approximately $1,803,119. This sequence (exercise then immediate sale) is a sale/monetization of exercised options rather than a new outside purchase.

Key Details

• Transaction date: 2026-06-24; Form 4 filed 2026-06-26 (timely filing).
• Exercise: 3,000 shares acquired at $333.94 each (total $1,001,820).
• Sales: total 3,000 shares sold across four tranches for combined proceeds ≈ $1,803,119:
  • 1,684 shares at weighted avg $600.30 (prices ranged $600.00–$600.94) — F1
  • 737 shares at weighted avg $601.32 (prices ranged $601.04–$601.99) — F2
  • 416 shares at weighted avg $602.49 (prices ranged $602.16–$602.98) — F3
  • 163 shares at weighted avg $603.71 (prices ranged $603.40–$603.81) — F4
• The Form shows an additional M-line reporting 3,000 shares disposed at $0.00 (derivative), indicating settlement details related to the option exercise/net-share settlement recorded on the Form — not an independent cash sale.
• Shares owned after the transactions are not shown in the data provided.

Context

• This is effectively a cashless exercise/monetization: options were exercised and the resulting shares were sold the same day. Such transactions are common for executives converting option value to cash and do not by themselves signal company outlook.
• Footnotes note weighted-average sale prices and the ranges for the multiple trades; the reporting person offered to provide breakdowns on request per the footnotes.