Form 4: ACV Auctions CSO Reports Routine Stock Withholding, ESPP Buy

ACV Auctions' Chief Sales Officer Michael Waterman reported tax-related share withholdings and an acquisition of shares through the company's Employee Stock Purchase Plan.

Summary

• Michael Waterman, Chief Sales Officer of ACV Auctions Inc. (ACVA), reported transactions on January 2, 2026.
• A total of 13,905 shares of common stock were withheld by the issuer to cover tax liabilities upon the vesting of time-based restricted stock units.
• The shares were withheld at a price of $8.29 per share.
• These withholdings do not represent a discretionary sale by Mr. Waterman.
• Following these transactions, Mr. Waterman beneficially owns 354,502 shares of common stock.
• The reported beneficial ownership includes 1,193 shares acquired through the Company's 2021 Employee Stock Purchase Plan (ESPP) for the purchase period of June 1, 2025, to November 30, 2025.

Sentiment

Score: 5

Explanation: The filing reports routine tax-related share withholdings upon RSU vesting and an ESPP share acquisition, which are standard compensation events and do not indicate a significant positive or negative operational or financial development for the company.

Positives

• Michael Waterman acquired 1,193 shares through the Company's 2021 Employee Stock Purchase Plan (ESPP), demonstrating continued participation in employee ownership programs and alignment with shareholder interests.

Negatives

• A total of 13,905 shares of common stock were withheld by the issuer to cover tax liabilities upon RSU vesting, which reduces the reporting person's direct beneficial ownership.

Future Outlook

NA

Management Comments

• These shares were withheld by the Issuer to cover the tax liability upon the vesting of a time-based restricted stock unit previously granted, and does not represent a discretionary sale by the reporting person.

Industry Context

NA

Stakeholder Impact

• Shareholders: The transactions reflect routine equity compensation practices for a key executive, which is a standard component of executive remuneration and generally aligns management interests with shareholders.
• Employees: The Chief Sales Officer continues to participate in the company's equity compensation plans, including the Employee Stock Purchase Plan, which can be seen as a positive for employee retention and alignment.

Key Dates

Recommendation

The filing details routine insider transactions related to equity compensation, specifically tax withholdings upon RSU vesting and an ESPP share acquisition. These are standard events and do not provide new material information that would alter the fundamental investment thesis for ACV Auctions Inc., thus a 'hold' recommendation is appropriate.

Keywords

ACV Auctions, ACVA, Michael Waterman, Form 4, insider transaction, stock withholding, ESPP, restricted stock units, equity compensation