Form 4: ACV Auctions Director Reports Share Conversions and Sales

Robert P. Goodman, a director at ACV Auctions, reported the conversion of Class B Common Stock to Class A Common Stock and subsequent sales of Class A Common Stock by Bessemer Venture Partners IX L.P. and related entities.

Summary

• On May 21, 2024, and May 24, 2024, Robert P. Goodman, a director of ACV Auctions Inc., filed a Form 4 detailing transactions involving Class A and Class B Common Stock.
• Bessemer Venture Partners IX L.P. (BVP IX), Bessemer Venture Partners IX Institutional L.P. (BVP IX Inst), and 15 Angels III LLC converted shares of Class B Common Stock into Class A Common Stock.
• Following the conversion, the BVP IX Funds sold shares of Class A Common Stock in multiple transactions at prices ranging from $18.70 to $19.10.
• On May 21, 2024, they sold shares at a weighted average price of $18.99, and on May 24, 2024, at a weighted average price of $18.89.
• As of the report, BVP IX, BVP IX Inst, and 15 Angels hold 3,589,544, 2,875,771, and 59,471 shares of Class B Stock, respectively.
• Goodman also reported direct ownership of 375,219 shares of Class A Common Stock and indirect ownership through NB Group, LLC (7,392 shares) and Katama Point LLC (13,063 shares).

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Industry Context

Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential sentiment.

Stakeholder Impact

• Shareholders may be interested in the transactions of company insiders as they can provide insights into management's view of the company's prospects.

Key Dates