Form 4: ACV Auctions Director Brian Hirsch Reports Conversion of Class B Common Stock to Class A

Director Brian Hirsch reports the automatic conversion of Class B Common Stock to Class A Common Stock held by Tribeca Venture Funds, as well as his direct holdings.

Summary

• Brian Hirsch, a director at ACV Auctions Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
• The report indicates that on December 31, 2024, all Class B Common Stock automatically converted into Class A Common Stock.
• This conversion affected shares held indirectly through Tribeca Venture Fund II, L.P. (TVFII) and Tribeca Venture Fund II New York, L.P. (TVFII NY).
• Hirsch disclaims beneficial ownership of the shares held by TVFII and TVFII NY, except to the extent of his pecuniary interest.
• The conversion involved 1,397,090 shares held by TVFII and 465,697 shares held by TVFII NY.
• Hirsch also directly owns 9,239 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing a pre-planned conversion of stock classes. It doesn't inherently convey positive or negative sentiment.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The conversion simplifies the company's capital structure, potentially making it more attractive to investors.

Key Dates