SEC Form 4
FORM 4 | UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
| |||||||||||||||
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). |
1. Name and Address of Reporting Person*
(Street)
| 2. Issuer Name and Ticker or Trading Symbol CREDIT ACCEPTANCE CORP [ CACC ] | 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
| ||||||||||||||||||||||||
3. Date of Earliest Transaction (Month/Day/Year) 07/09/2021 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed (Month/Day/Year) 07/13/2021 | 6. Individual or Joint/Group Filing (Check Applicable Line)
|
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|
1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
Code | V | Amount | (A) or (D) | Price | ||||||
Common Stock | 07/09/2021 | S | 347 | D | $443.36(1) | 146,580(2) | I | See footnote(3) | ||
Common Stock | 07/09/2021 | S | 266 | D | $444.48(4) | 146,314(2) | I | See footnote(3) | ||
Common Stock | 07/09/2021 | S | 2,010 | D | $445.75(5) | 144,303(2) | I | See footnote(3) | ||
Common Stock | 07/09/2021 | S | 921 | D | $446.6(6) | 143,383(2) | I | See footnote(3) | ||
Common Stock | 07/09/2021 | S | 56 | D | $447.94(7) | 143,327(2) | I | See footnote(3) | ||
Common Stock | 07/09/2021 | S | 520 | D | $443.36(1) | 352,622(8) | I | See footnote(9) | ||
Common Stock | 07/09/2021 | S | 400 | D | $444.48(4) | 352,222(8) | I | See footnote(9) | ||
Common Stock | 07/09/2021 | S | 3,016 | D | $445.75(5) | 349,207(8) | I | See footnote(9) | ||
Common Stock | 07/09/2021 | S | 1,381 | D | $446.6(6) | 347,825(8) | I | See footnote(9) | ||
Common Stock | 07/09/2021 | S | 83 | D | $447.94(7) | 347,742(8) | I | See footnote(9) | ||
Common Stock | 07/09/2021 | S | 262 | D | $443.75(10) | 68,584(11) | I | See footnote(12) | ||
Common Stock | 07/09/2021 | S | 439 | D | $445.51(13) | 68,145(11) | I | See footnote(12) | ||
Common Stock | 07/09/2021 | S | 930 | D | $446.47(14) | 67,215(11) | I | See footnote(12) | ||
Common Stock | 07/09/2021 | S | 169 | D | $447.49(15) | 67,046(11) | I | See footnote(12) |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Call Options (Obligation to Sell) | $500 | 02/15/2022 | 02/15/2022 | Common Stock | 39,000 | 390 | I | See footnote(9) | |||||||
Call Options (Obligation to Sell) | $500 | 02/09/2022 | 02/09/2022 | Common Stock | 13,000 | 130 | I | See footnote(3) |
Explanation of Responses: |
1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $443.05 to $443.67, inclusive. The reporting person undertakes to provide to Credit Acceptance Corporation, any security holder of Credit Acceptance Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in the preceding sentence. |
2. The original Form 4, filed on July 13, 2021, is being amended by this Form 4 amendment to correct an administrative error, which over-reported the number of shares beneficially owned following the reported transaction by 50,000 shares. As a result of the correction, the number of shares beneficially owned by the reporting person following the transaction reflects a reduction in the number of shares reported as beneficially owned by the reporting person by 50,000 shares. |
3. These shares are owned of record by Jill Foss Watson, as Trustee of the Jill Foss Watson Living Trust. |
4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $444.06 to $445.00, inclusive. The reporting person undertakes to provide to Credit Acceptance Corporation, any security holder of Credit Acceptance Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in the preceding sentence. |
5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $445.28 to $446.26, inclusive. The reporting person undertakes to provide to Credit Acceptance Corporation, any security holder of Credit Acceptance Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in the preceding sentence. |
6. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $446.31 to $447.23, inclusive. The reporting person undertakes to provide to Credit Acceptance Corporation, any security holder of Credit Acceptance Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in the preceding sentence. |
7. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $447.88 to $448.01, inclusive. The reporting person undertakes to provide to Credit Acceptance Corporation, any security holder of Credit Acceptance Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in the preceding sentence. |
8. The original Form 4, filed on July 13, 2021, is being amended by this Form 4 amendment to correct an administrative error, which misreported sales by the Jill Foss Watson 2014 Children's Trust FBO Duncan Todd Watson and Jill Foss Watson 2014 Children's Trust FBO Gwyneth Ellen Watson, when in fact neither of the trusts engaged in any sales. |
9. These shares are owned of record by Jill Foss Watson, as Trustee of the Karol A. Foss Irrevocable Grandchildren's Trust and of the Issue Trusts. |
10. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $443.62 to $444.23, inclusive. The reporting person undertakes to provide to Credit Acceptance Corporation, any security holder of Credit Acceptance Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in the preceding sentence. |
11. The original Form 4, filed on July 13, 2021, is being amended by this Form 4 amendment solely to correct an administrative error, which misreported a sale that occurred on July 9, 2021 as a total of 9,000 shares sold when in fact 1,800 shares of the Issuer's common stock were sold. As a result of the correction, the number of shares beneficially owned by the reporting person following the corrected transaction reflects an increase in the number of shares reported as beneficially owned by the reporting person by 7,200 shares. |
12. These shares are owned of record by Todd Watson, spouse of Jill Foss Watson, as trustee of the Jill Foss Watson Irrevocable Trust. |
13. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $444.83 to $445.48, inclusive. The reporting person undertakes to provide to Credit Acceptance Corporation, any security holder of Credit Acceptance Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in the preceding sentence. |
14. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $446 to $446.67, inclusive. The reporting person undertakes to provide to Credit Acceptance Corporation, any security holder of Credit Acceptance Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in the preceding sentence. |
15. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $447.22 to $447.88, inclusive. The reporting person undertakes to provide to Credit Acceptance Corporation, any security holder of Credit Acceptance Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in the preceding sentence. |
/s/ Bradley J. Wyatt, Attorney-in-Fact | 07/14/2021 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. |