Form 4: CACC Chief Legal Officer Reports Routine Stock Transaction
Insider Transaction Report
Erin J. Kerber, Chief Legal Officer of Credit Acceptance Corp, reported the withholding of 542.3 shares of common stock to cover tax obligations related to restricted stock unit vesting.
Summary
- Erin J. Kerber, Chief Legal Officer of Credit Acceptance Corp (CACC), reported a transaction on January 31, 2026.
- The transaction involved the disposition of 542.3 shares of CACC common stock at a price of $498.24 per share.
- This disposition was a mandatory withholding of shares to satisfy tax obligations associated with the vesting and settlement of restricted stock units.
- Following this transaction, Ms. Kerber directly beneficially owns 25,710.7 shares of common stock.
- Additionally, Ms. Kerber indirectly beneficially owns 236 shares through the Credit Acceptance Stock Fund of the company's 401(k) Profit Sharing Plan and Trust as of January 29, 2026.
- Ms. Kerber also holds employee stock options to purchase 15,500 shares at $454.11 (exercisable until June 28, 2027) and 14,625 shares at $333.94 (exercisable until December 30, 2026).
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a neutral event, representing a routine administrative transaction related to executive compensation rather than a discretionary sale or purchase indicating a change in sentiment towards the company's prospects.
Positives
- The transaction is a routine administrative event, indicating the vesting of previously granted restricted stock units, which is a positive for the executive's compensation.
Negatives
- The direct beneficial ownership of common stock by the Chief Legal Officer decreased by 542.3 shares due to tax withholding.
Future Outlook
NA
Industry Context
StockSavvy.ai notes that routine insider transactions, such as tax withholdings upon RSU vesting, are common across all industries for publicly traded companies and do not typically reflect a change in the company's operational or strategic direction. This transaction is consistent with standard executive compensation practices.
Related Party Transactions
- The transaction involves an insider (Chief Legal Officer) and the company's stock, which is inherently a related party transaction. However, it is a routine, non-discretionary disposition for tax purposes following RSU vesting.
Stakeholder Impact
- Shareholders: The transaction has a minimal direct impact on shareholders as it is a routine administrative event and does not reflect a change in the company's operational performance or strategic direction. It slightly reduces the direct beneficial ownership of a key executive, but this is offset by the vesting of equity compensation.
Key Dates
| Date | Description |
|---|---|
| 12/30/2024 | Date employee stock option for 14,625 shares became exercisable. |
| 06/28/2025 | Date employee stock option for 15,500 shares became exercisable. |
| 01/29/2026 | Date as of which indirect beneficial ownership in 401(k) Trust was reported by the Plan trustee. |
| 01/31/2026 | Date of the reported transaction where shares were withheld for tax obligations. |
| 02/03/2026 | Signature date of the reporting person on the Form 4 filing. |
| 12/30/2026 | Expiration date for employee stock option to buy 14,625 shares. |
| 06/28/2027 | Expiration date for employee stock option to buy 15,500 shares. |
Keywords
Credit Acceptance Corp, CACC, SEC Form 4, Insider Transaction, Stock Vesting, Tax Withholding, Erin J. Kerber, Chief Legal Officer, Common Stock, Restricted Stock Units, Employee Stock Options
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