Waterman Michael 4

What Happened

• Michael Waterman, Chief Sales Officer of ACV Auctions (ACVA), received a grant of 269,069 restricted stock units (RSUs) on April 1, 2026 (acquired at $0.00). On the same date the issuer withheld a total of 12,743 shares to cover tax liabilities related to prior RSU vesting — 4,919, 3,459 and 4,365 shares — each withheld at $4.27 per share, totaling $54,413. The award is an acquisition via RSUs rather than an open-market purchase; the withheld shares are not a discretionary sale.

Key Details

• Transaction date: 2026-04-01; Form 4 filed: 2026-04-03 (timely filed).
• Grant: 269,069 RSUs at $0.00 (award/acquisition code A).
• Withholding (tax payment): 4,919; 3,459; 4,365 shares disposed at $4.27 each for $21,004; $14,770; $18,639 (total $54,413) (code F).
• Shares owned after transaction: Not reported in the information provided.
• Footnotes:
  • F1: The RSUs vest in twelve substantially equal quarterly installments beginning July 1, 2026, subject to continuous service.
  • F2: The withheld shares were retained by the issuer to cover tax liability on RSU vesting and do not represent a discretionary sale.

Context

• RSUs are a form of equity compensation that convert to actual shares only as they vest; this grant increases potential future ownership but does not immediately transfer vested share rights.
• The disposals here are employer tax withholdings (routine) rather than open-market sales; such withholdings are common when equity awards vest.