Form 4: ACV Auctions Inc. Chief Sales Officer Executes Stock Option and Sells Shares Under 10b5-1 Plan

Michael Waterman, Chief Sales Officer of ACV Auctions Inc., exercised stock options and sold shares of Class A Common Stock under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Waterman, the Chief Sales Officer of ACV Auctions Inc., executed a transaction involving the company's stock on March 25, 2025.
• Waterman exercised an employee stock option to acquire 100,000 shares of Class A Common Stock at a price of $0.06 per share.
• Simultaneously, Waterman sold 115,987 shares of Class A Common Stock at a weighted average price of $16.10, with individual sales ranging from $16.00 to $16.31.
• These sales were conducted under a pre-arranged Rule 10b5-1 trading plan established on December 10, 2024.
• Following these transactions, Waterman directly owns 327,564 shares of Class A Common Stock and holds options for 179,503 shares.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing insider transactions. It doesn't inherently convey positive or negative sentiment, as it simply reports facts.

Industry Context

This Form 4 filing is a routine disclosure of insider transactions. It is common for executives to utilize 10b5-1 trading plans to sell shares over time to avoid accusations of trading on inside information. The sale represents a small percentage of the outstanding shares.

Comparison to Industry Standards

• Executive compensation packages often include stock options as a form of long-term incentive.
• Rule 10b5-1 trading plans are a standard practice among corporate executives to manage their stock sales in compliance with insider trading regulations.
• Comparable companies in the tech and automotive sectors also have executives who utilize similar trading plans.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the sale of shares by a company executive.
• The impact is likely minimal as the sales were conducted under a pre-arranged trading plan.

Key Dates

Keywords

ACV Auctions Inc., ACVA, Michael Waterman, Chief Sales Officer, Form 4, Stock Options, Class A Common Stock, Rule 10b5-1 Trading Plan, Insider Trading, Securities Exchange Act