Form 4: ACV Auctions Director Brian Hirsch Sells Shares

Brian Hirsch, a director at ACV Auctions Inc., sold shares of Class A Common Stock in multiple transactions on March 11 and 12, 2024.

Summary

• Brian Hirsch, a director of ACV Auctions Inc., reported the sale of Class A Common Stock on March 11 and 12, 2024.
• On March 11, 2024, 18,039 shares were sold at a weighted average price of $17.46.
• Also on March 11, 2024, 6,013 shares were sold at a weighted average price of $17.46.
• On March 12, 2024, 59,381 shares were sold at a weighted average price of $17.52.
• Additionally, on March 12, 2024, 19,793 shares were sold at a weighted average price of $17.52.
• The sales were conducted indirectly through Tribeca Venture Fund II, L.P. and Tribeca Venture Fund II New York, L.P., where Hirsch is a managing partner of the general partner.
• Following these transactions, Hirsch directly owns 168,185 shares of Class A Common Stock.
• Hirsch disclaims beneficial ownership of shares held by Tribeca Venture Fund II, L.P. and Tribeca Venture Fund II New York, L.P., except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting stock sales by a company director, which is a neutral event in itself. The sentiment is therefore considered neutral.

Industry Context

This Form 4 filing is a routine disclosure of stock transactions by a company insider and provides transparency to the market regarding the trading activities of ACV Auctions' directors.

Stakeholder Impact

• The stock sale by a director could be perceived negatively by some shareholders, potentially leading to a slight decrease in stock price, although the impact is likely to be minimal given the relatively small volume of shares sold compared to the total outstanding.

Key Dates