Robert P. Goodman - Dec 13, 2022 Form 4 Insider Report for ACV Auctions Inc. (ACVA)

Role
Director
Signature
/s/ Robert P. Goodman
Stock symbol
ACVA
Transactions as of
Dec 13, 2022
Transactions value $
$0
Form type
4
Date filed
12/15/2022, 06:27 PM
Previous filing
Nov 21, 2022
Next filing
May 15, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ACVA Class A Common Stock Conversion of derivative security $0 0 $0.00* 0 Dec 13, 2022 See footnotes F1, F2, F3
transaction ACVA Class A Common Stock Sale $0 0 $0.00* 0 Dec 13, 2022 See footnotes F3, F4
holding ACVA Class A Common Stock 515K Dec 13, 2022 Direct F6
holding ACVA Class A Common Stock 22.1K Dec 13, 2022 See footnote F7
holding ACVA Class A Common Stock 13.1K Dec 13, 2022 See footnote F8
holding ACVA Class A Common Stock 26K Dec 13, 2022 See footnote F9

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ACVA Class B Common Stock Conversion of derivative security $0 0 $0.00* 0 Dec 13, 2022 Class A Common Stock 0 See footnotes F1, F2, F3, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each share of Class B Common Stock is convertible without payment or consideration into one share of Class A Common Stock at the option of the holder and has no expiration date.
F2 Represents 554,079 shares converted from Class B Common Stock to Class A Common Stock by Bessemer Venture Partners IX L.P. ("BVP IX"), 443,902 shares converted from Class B Common Stock to Class A Common Stock by Bessemer Venture Partners IX Institutional L.P. ("BVP IX Inst"), and 9,179 shares converted from Class B Common Stock to Class A Common Stock by 15 Angels III LLC. ("15 Angels" and together with BVP IX and BVP IX Inst, the "BVP IX Funds").
F3 The Reporting Person is a director of Deer IX & Co. Ltd ("Deer IX Ltd."), which is the general partner of Deer IX & Co. L.P. ("Deer IX LP"), which is the general partner of each of 15 Angels III LLC ("15 Angels"), BVP IX Inst and BVP IX (collectively, the "Funds"). The Reporting Person disclaims beneficial ownership of the securities held by the Funds, except to the extent of his pecuniary interest, if any, in such securities by virtue of his interest in Deer IX Ltd. and Deer IX LP and his indirect limited partnership interest in the Funds. This report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities.
F4 On December 13, 2022 BVP IX, BVP IX Inst, and 15 Angels sold 554,079, 443,902, and 9,179 shares, respectively, of Class A Common Stock of ACV Auctions, Inc at a weighted average price per share of $9.00. These shares were sold in multiple transactions at prices ranging from $9.00 to $9.20, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
F5 After the reported transaction, BVP IX, BVP IX Inst, and 15 Angels own 10,367,471 shares, 8,305,924 shares and 171,757 shares, respectively, of Class B Common Stock
F6 The shares are directly held by the Reporting Person.
F7 The shares are directly held by NB Group, LLC ("NB Group"). NB Group is controlled by the Reporting Person, and the Reporting Person disclaims beneficial ownership of the shares held by this entity, except to the extent of his pecuniary interest therein, if any.
F8 The shares are directly held by Cracktuxet II, LLC ("Cracktuxet II"). Cracktuxet II is controlled by the Reporting Person, and the Reporting Person disclaims beneficial ownership of the shares held by this entity, except to the extent of his pecuniary interest therein, if any.
F9 The shares are directly held by Katama Point LLC ("Katama"). Katama is controlled by the Reporting Person, and the Reporting Person disclaims beneficial ownership of the shares held by this entity, except to the extent of his pecuniary interest therein, if any.