Form 4: ACV Auctions CFO William Zerella Reports Changes in Beneficial Ownership

William Zerella, CFO of ACV Auctions Inc., reports a transaction involving the withholding of shares to cover tax liabilities upon vesting of restricted stock units.

Summary

• On March 14, 2024, William Zerella, the Chief Financial Officer of ACV Auctions Inc., reported changes in beneficial ownership of the company's stock.
• The reported transaction involved the withholding of 2,050 shares of Class B Common Stock by the issuer to cover tax liabilities upon the vesting of a time-based restricted stock unit.
• Following the transaction, Zerella directly owns 139,497 shares of Class A Common Stock, which includes shares previously reported as restricted stock units.
• Each share of Class B Common Stock is convertible into one share of Class A Common Stock and will automatically convert under certain conditions, including sale, transfer, death of the reporting person, or a final conversion date based on the outstanding shares of Class B Common Stock.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing a routine transaction. It doesn't contain information that would significantly impact investor sentiment positively or negatively.

Industry Context

This filing is a routine disclosure related to insider transactions and is a standard practice for publicly traded companies. It provides transparency into the ownership changes of company executives.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders as it relates to internal tax obligations.

Key Dates