Form 4: CACC Chief Sales Officer Exercises, Sells Shares

Daniel A. Ulatowski, Chief Sales Officer of Credit Acceptance Corp, exercised employee stock options and sold an equivalent number of common shares.

Summary

• Daniel A. Ulatowski, Chief Sales Officer of Credit Acceptance Corp (CACC), reported transactions on December 10, 2025.
• Ulatowski exercised 3,000 employee stock options at a price of $333.94 per share.
• Concurrently, Ulatowski sold 3,000 shares of common stock at a price of $475.66 per share.
• Following these transactions, Ulatowski directly beneficially owns 28,290 shares of common stock, which consist of unvested restricted stock units.
• Additionally, 4,000 shares are indirectly beneficially owned through the D.&.B. Ulatowski Living Trust.
• Ulatowski also directly beneficially owns 33,000 derivative securities (employee stock options).

Sentiment

Score: 5

Explanation: The filing reports a routine insider transaction where an officer exercised stock options and immediately sold the acquired shares. This is a common practice for liquidity or tax planning and does not inherently indicate a strong positive or negative sentiment about the company's future prospects.

Positives

• The officer exercised stock options, indicating a realization of value from their compensation plan.
• The sale price of $475.66 per share is significantly higher than the exercise price of $333.94 per share, resulting in a profit for the officer.

Negatives

• The immediate sale of shares after exercising options could be interpreted as the officer taking profits rather than increasing their direct equity stake in the company.

Future Outlook

This Form 4 filing is a transactional report and does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

This insider transaction is a routine event for executives with equity compensation plans. It reflects an individual's personal financial planning rather than a broader industry trend or a specific statement about the company's competitive position. Such transactions are common across various industries as executives manage their vested equity.

Comparison to Industry Standards

• This filing reports a standard insider transaction involving the exercise of stock options and subsequent sale of shares, which is a common practice for executives across publicly traded companies to manage liquidity or tax obligations. There are no specific comparable companies, projects, or results detailed within this transactional report to assess against global benchmarks.

Related Party Transactions

• 4,000 shares of common stock are indirectly owned by Daniel A. Ulatowski through the D.&.B. Ulatowski Living Trust, where he and his spouse are trustees.

Stakeholder Impact

• Shareholders: This routine insider transaction is unlikely to have a significant direct impact on shareholders, as it represents an individual executive's personal financial management rather than a strategic corporate action.
• Employees: No direct impact on employees is indicated by this filing.
• Customers, Suppliers, Creditors: No direct impact on these stakeholders is indicated by this filing.

Key Dates

Keywords

Credit Acceptance Corp, CACC, Insider Trading, Form 4, Stock Options, Share Sale, Beneficial Ownership, Executive Compensation, Daniel A. Ulatowski