Form 4: ACV Auctions Inc. Executive Anderson Craig Eric Reports Tax Liability Share Withholding

Craig Eric Anderson, CCDSO of ACV Auctions Inc., had shares withheld by the issuer to cover tax liabilities upon vesting of restricted stock units on April 1, 2024.

Summary

• On April 1, 2024, Craig Eric Anderson, the CCDSO of ACV Auctions Inc., had shares of Class A Common Stock withheld by the issuer to cover tax liabilities.
• A total of 3,087 shares were withheld at a price of $18.28, resulting in a remaining balance of 199,710 shares.
• An additional 5,185 shares were withheld at the same price, leaving a balance of 194,525 shares.
• Additionally, 6,416 shares of Class B Common Stock were also withheld, which are convertible to Class A Common Stock.
• Following these transactions, Anderson directly owns 113,886 derivative securities.

Sentiment

Score: 5

Explanation: This is a neutral filing regarding standard tax-related stock transactions. It doesn't convey any positive or negative sentiment about the company's performance or future prospects.

Industry Context

This is a routine SEC filing related to insider transactions, specifically the withholding of shares to cover tax liabilities upon the vesting of restricted stock units. It is a common practice and doesn't necessarily indicate a change in the company's outlook or performance.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies and their insiders.
• The share withholding for tax liabilities is a common occurrence when restricted stock units vest.
• Comparable companies like Carvana or Copart would have similar filings when their executives have stock transactions.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it relates to internal stock management for tax purposes.

Key Dates