Credit Acceptance Corp Officer Exercises Options and Sells Shares

Nicholas J. Elliott, Chief Transformation Officer of Credit Acceptance Corp (CACC), filed a Form 4 reporting significant stock transactions on June 24-25, 2026. Elliott exercised employee stock options to acquire 4,670 shares at $333.94 per share, while simultaneously selling 4,670 shares at prices ranging from $600.29 to $629.95 per share. The transactions represent a classic "cashless exercise" where options were exercised and shares immediately sold to cover costs and realize gains. Following these transactions, Elliott holds 20,897.3 shares directly and 325 shares indirectly through the company's 401(k) plan. The stock sales were executed in multiple transactions across various price points, with detailed footnotes providing weighted average prices and price ranges. The filing demonstrates substantial executive compensation realization through option exercises.