ACV Auctions Inc: chief sales officer Michael Waterman sold 21,567 shares

What happened Michael Waterman, chief sales officer, had 21,567 shares withheld by the issuer to cover tax liabilities related to vested time-based restricted stock units. The Form 4 lists four withholding transactions on Oct 1, 2026: 4,365 shares for $45,614; 4,919 shares for $51,404; 8,824 shares for $92,211; and 3,459 shares for $36,147. Each transaction price was $10.45, totaling $225,376.

Key details

• Transaction date: Oct 1, 2026; price per share: $10.45.
• Individual withholdings: 4,365 shares ($45,614); 4,919 shares ($51,404); 8,824 shares ($92,211); 3,459 shares ($36,147).
• Transaction code: F (tax withholding).
• Shares owned after the transaction: not reported in the provided filing.
• Footnotes: F1 states the shares were withheld by the issuer to cover the tax liability upon vesting of a time-based restricted stock unit previously granted and does not represent a discretionary sale by the reporting person. F2 notes inclusion of 1,067 shares acquired pursuant to the company's 2021 employee stock purchase plan for the purchase period Jun 1, 2026 to Sep 17, 2026.
• Filing date: Oct 5, 2026.

Why it may matter The filing shows the shares were withheld by the issuer to satisfy tax obligations on vested restricted stock units rather than a voluntary open-market sale. A filing does not show why the insider traded or why the company acted.