Form 4: Thomas W. Smith Sells 1,200 Shares of Credit Acceptance Corp (CACC)

Thomas W. Smith, a director and member of a Section 13(d) group at Credit Acceptance Corp, sold 1,200 shares of common stock at a price of $451.0067 on September 9, 2024.

Summary

• On September 9, 2024, Thomas W. Smith, a director and member of a Section 13(d) group at Credit Acceptance Corp (CACC), sold 1,200 shares of common stock.
• The sale price was $451.0067 per share.
• Following the transaction, Smith directly owns no shares but indirectly owns 74,450 shares through family accounts, 567,397 shares through Ridgeview Smith Investments LLC, 45,059 shares through Prescott Investors Profit Sharing Trust, and 20,448 shares through Thomas W. Smith Foundation.
• Smith disclaims beneficial ownership of these shares except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing an insider stock sale. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about the transaction.

Management Comments

• The Reporting Person disclaims beneficial ownership of the shares included in this report except to the extent of his pecuniary interest in such shares.
• The filing of this report shall not be deemed to be an admission that the Reporting Person is a member of a 'group' within the meaning of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended.

Industry Context

This is a standard Form 4 filing, which is required when an insider of a publicly traded company buys or sells the company's stock. It provides transparency into the transactions of company insiders.

Stakeholder Impact

• The sale of shares by a director could be perceived negatively by some shareholders, but the impact is likely minimal given the relatively small number of shares sold compared to the total outstanding shares and the disclaimer of beneficial ownership.

Key Dates