Bessemer Venture Partners IX L.P. - Dec 13, 2022 Form 4 Insider Report for ACV Auctions Inc. (ACVA)

Role: 10%+ Owner
Signature: /s/ Scott Ring, General Counsel, Deer IX & Co. Ltd., the General Partner of Deer IX & Co. L.P., the General Partner of Bessemer Venture Partners IX L.P.
Stock symbol: ACVA
Transactions as of: Dec 13, 2022
Transactions value $: -$9,064,440
Form type: 4
Date filed: 12/15/2022, 06:30 PM
Previous filing: Dec 5, 2022
Next filing: Dec 16, 2022

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	+1.01M		$0.00	1.01M	Dec 13, 2022	See footnotes	F1, F2, F5
transaction	ACVA	Class A Common Stock	Sale	-$9.06M	-1.01M	-100%	$9.00	0	Dec 13, 2022	See footnote	F3, F5

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	-1.01M	-5.07%	$0.00	18.8M	Dec 13, 2022	Class A Common Stock	1.01M		See footnotes	F1, F2, F4, 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	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. The price reported is a weighted average price. 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.
F4	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.
F5	Deer IX & Co. Ltd. ("Deer Ltd.") is the general partner of Deer IX & Co. L.P. ("Deer L.P."), which is the general partner of the BVP IX Funds. Deer Ltd. and Deer L.P. disclaim beneficial ownership of the securities held by the BVP IX Funds, and this report shall not be deemed an admission that Deer Ltd. and Deer L.P. are the beneficial owners of such securities, except to the extent of their pecuniary interest therein, if any, by virtue of their direct and indirect general partner interests in the BVP IX Funds.