4//SEC Filing
Radecki Brian J 4
Accession 0001209191-21-023650
CIK 0001637873other
Filed
Mar 29, 8:00 PM ET
Accepted
Mar 30, 8:11 PM ET
Size
13.6 KB
Accession
0001209191-21-023650
Insider Transaction Report
Form 4
Radecki Brian J
Director
Transactions
- Other
Class B Common Stock
2021-03-26+21,101→ 21,101 total→ Class A Common Stock (21,101 underlying) - Other
Restricted Stock Units
2021-03-26+40,000→ 40,000 total→ Class B Common Stock (40,000 underlying) - Conversion
Series E-1 Preferred Stock
2021-03-26−21,101→ 0 total→ Class B Common Stock (21,101 underlying) - Other
Restricted Stock Units
2021-03-26−40,000→ 0 total→ Common Stock (40,000 underlying)
Footnotes (6)
- [F1]Each share of Series E-1 Preferred Stock automatically converted into Common Stock on a 1:1 basis and were reclassified into shares of Series B Common Stock on a 1:1 basis immediately prior to the closing of the Issuer's initial public offering.
- [F2]Each share of Class B Common Stock is convertible at any time at the option of the Reporting Person into one share of Class A Common Stock. Each share of Class B Common Stock will convert automatically into shares of Class A common stock, on a one-to-one basis, upon the following: (1) the sale or transfer of such share of Class B Common Stock, subject to certain exceptions specified in the Issuer's amended and restated certificate of incorporation; (2) the death of the Reporting Person; and (3) the final conversion date, defined as the earlier of (a) the first trading day on or after the date on which the outstanding shares of Class B Common Stock represent less than 5.0% of the Issuer's then-outstanding Class A and Class B Common Stock; (b) the tenth anniversary of this offering; or (c) the date specified by vote of the holders of a majority of the outstanding shares of Class B Common Stock, voting as a single class.
- [F3]Each restricted stock unit ("RSU") represents a contingent right to receive one share of Issuer Common Stock.
- [F4]The RSUs vest with respect to one-third of the RSUs on each of the first, second and third anniversaries of the grant date, subject to the Reporting Person's continuous service.
- [F5]Immediately prior to the closing of the Issuer's initial public offering, each share of Common Stock was reclassified into one share of Class B Common Stock in an exempt transaction pursuant to Rule 16b-7.
- [F6]Each RSU represents a contingent right to receive one share of Issuer Class B Common Stock.
Documents
Issuer
ACV Auctions Inc.
CIK 0001637873
Entity typeother
Related Parties
1- filerCIK 0001402193
Filing Metadata
- Form type
- 4
- Filed
- Mar 29, 8:00 PM ET
- Accepted
- Mar 30, 8:11 PM ET
- Size
- 13.6 KB