Form 4: Credit Acceptance Corp Executive Nicholas J. Elliott Reports Stock Transactions
SEC Form 4 Filing
Chief Alignment Officer of Credit Acceptance Corp, Nicholas J. Elliott, reports the withholding of shares for tax obligations and holdings in a 401(k) trust.
Summary
- Nicholas J. Elliott, Chief Alignment Officer at Credit Acceptance Corp, filed a Form 4 detailing changes in beneficial ownership.
- On January 23, 2025, 214.14 shares of common stock were withheld to cover tax obligations related to the vesting of restricted stock units.
- Following the transaction, Elliott directly owns 19,684.86 shares of common stock, which includes 18,373 unvested restricted stock units.
- Elliott also indirectly owns 302 shares of common stock through the Credit Acceptance Stock Fund of the 401(k) Profit Sharing Plan and Trust.
- Additionally, Elliott holds an employee stock option for 13,950 shares, exercisable in installments, with an exercise price of $333.94.
Sentiment
Score: 5
Explanation: The document is a routine filing of stock transactions, and does not contain any information that would indicate a positive or negative sentiment.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common practice in publicly traded companies.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies in the US, and this filing is consistent with those requirements.
- The stock option and restricted stock unit grants are common forms of executive compensation in the financial services industry, similar to practices at companies like Ally Financial and Capital One.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves a small number of shares relative to the total outstanding shares.
- The vesting of restricted stock units and the exercise of stock options are part of the company's compensation plan for executives.
Key Dates
| Date | Description |
|---|---|
| 12/30/2021 | First anniversary of the grant date of the employee stock option, when the first installment became exercisable. |
| 12/31/2024 | Date of the 401(k) holdings according to the Plan trustee. |
| 01/23/2025 | Date of the stock transaction where shares were withheld for tax obligations. |
| 01/27/2025 | Date the Form 4 was signed. |
| 12/30/2026 | Expiration date of the employee stock option. |
Keywords
Form 4, Beneficial Ownership, Stock Transactions, Restricted Stock Units, Employee Stock Option, 401k, Credit Acceptance Corp, CACC, Nicholas J. Elliott
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