Form 4: ACV Auctions CSO Reports Routine Tax Stock Withholding

ACV Auctions Chief Sales Officer Michael Waterman reported the withholding of shares to cover tax liabilities upon restricted stock unit vesting.

Summary

• Michael Waterman, Chief Sales Officer of ACV Auctions Inc. (ACVA), reported a transaction on October 1, 2025.
• The transaction involved the disposition of 12,743 shares of Common Stock at a price of $10.07 per share.
• These shares were withheld by the issuer to cover tax liabilities upon the vesting of previously granted time-based restricted stock units.
• The disposition does not represent a discretionary sale by Mr. Waterman.
• Following these transactions, Mr. Waterman beneficially owns 367,214 shares of ACV Auctions Inc. Common Stock.

Sentiment

Score: 5

Explanation: The filing reports a routine, non-discretionary withholding of shares for tax purposes upon the vesting of restricted stock units, which is a neutral event for company fundamentals.

Positives

• The transaction represents the vesting of previously granted time-based restricted stock units, indicating the fulfillment of compensation agreements.

Negatives

• The transaction involved the disposition of 12,743 shares of common stock, though this was non-discretionary and for tax purposes.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

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

This is a routine insider transaction report (Form 4) detailing a non-discretionary stock withholding for tax purposes, which is a common event across all industries for executives receiving equity compensation. It does not provide specific insights into broader industry trends or competitive positioning.

Comparison to Industry Standards

• The practice of withholding shares to cover tax obligations upon the vesting of restricted stock units is a standard compensation and tax management procedure widely adopted by publicly traded companies across various sectors, including technology and automotive marketplaces like ACV Auctions. This is consistent with typical executive compensation structures involving equity grants.

Stakeholder Impact

• Shareholders: Minimal impact as this is a routine, non-discretionary transaction related to executive compensation and tax obligations, not a discretionary sale indicating a change in insider sentiment.
• Employees: No direct impact on the broader employee base, as this relates to a specific executive's equity compensation.

Key Dates

Recommendation

The reported transaction is a routine, non-discretionary withholding of shares to cover tax liabilities associated with the vesting of restricted stock units. This event does not reflect a change in the company's operational performance, strategic direction, or the insider's discretionary view of the stock, therefore a 'hold' recommendation is maintained.

Keywords

ACV Auctions, ACVA, Michael Waterman, Form 4, Insider Transaction, Stock Withholding, RSU Vesting, Chief Sales Officer