Form 4: CACC Officer Sells Shares, Discloses Holdings

Credit Acceptance Corp's Chief Marketing and Product Officer, Andrew K. Rostami, reported the sale of 606 shares of common stock and disclosed his remaining beneficial ownership, including unvested restricted stock units and stock options.

Summary

• Andrew K. Rostami, Chief Marketing and Product Officer of Credit Acceptance Corp (CACC), reported a transaction involving the sale of common stock.
• On December 10, 2025, Rostami disposed of 606 shares of CACC common stock at a price of $475 per share.
• This transaction was conducted pursuant to a Rule 10b5-1(c) contract, instruction, or written plan.
• Following this transaction, Rostami beneficially owns 23,873 shares of common stock directly.
• The beneficially owned common stock includes 22,572 unvested restricted stock units, each representing one share of common stock.
• Rostami also holds employee stock options to purchase 16,000 shares of common stock at an exercise price of $585.93.
• These options are exercisable in four equal annual installments, beginning on April 18, 2023, and expire on April 18, 2028.

Sentiment

Score: 5

Explanation: A routine insider transaction disclosure. While an officer sale can sometimes be viewed negatively, the presence of a 10b5-1 plan suggests a pre-scheduled event rather than a reaction to new information. The officer retains significant equity.

Positives

• The transaction was made pursuant to a Rule 10b5-1(c) plan, indicating a pre-scheduled sale rather than a reaction to new, non-public information.
• Andrew K. Rostami retains significant beneficial ownership in Credit Acceptance Corp, including a substantial number of unvested restricted stock units and stock options, aligning his interests with shareholders.

Negatives

• An officer selling shares, even under a 10b5-1 plan, can sometimes be perceived negatively by the market as it reduces their direct equity stake.

Risks

• No specific risks are detailed within this Form 4 filing, as it primarily reports an insider transaction.

Future Outlook

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

Industry Context

This filing reports an individual insider transaction and does not provide information directly related to broader industry trends or competitive landscape for Credit Acceptance Corp.

Stakeholder Impact

• Shareholders may note the reduction in direct equity ownership by a key officer, though the 10b5-1 plan mitigates concerns about opportunistic selling.
• The officer's continued significant holdings, including unvested RSUs and options, suggest ongoing alignment with shareholder interests.

Key Dates

Recommendation

This Form 4 reports a routine, pre-scheduled sale of a relatively small number of shares by an officer under a 10b5-1 plan. While insider selling can sometimes signal a lack of confidence, the context of a 10b5-1 plan mitigates this concern. The officer still retains substantial equity, including unvested RSUs and options. This transaction alone does not provide sufficient new information to alter an investment thesis for Credit Acceptance Corp, thus a 'hold' recommendation is appropriate.

Keywords

Credit Acceptance Corp, CACC, Andrew K. Rostami, Insider Trading, Form 4, Stock Sale, Equity Holdings, Restricted Stock Units, Stock Options, Officer Transaction, 10b5-1 Plan