George Chamoun - Mar 13, 2024 Form 4 Insider Report for ACV Auctions Inc. (ACVA)

Role
Chief Executive Officer, Director
Signature
/s/ Michelle Webb, Attorney-in-fact
Stock symbol
ACVA
Transactions as of
Mar 13, 2024
Transactions value $
$0
Form type
4
Date filed
3/15/2024, 05:28 PM
Previous filing
Feb 27, 2024
Next filing
Mar 21, 2024

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 +300K +50.17% 898K Mar 13, 2024 Direct F1
transaction ACVA Class A Common Stock Gift $0 -300K -33.41% $0.00 598K Mar 13, 2024 Direct F2

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 -300K -9.66% $0.00 2.81M Mar 13, 2024 Class A Common Stock 300K Direct F1, F3
* 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 at any time at the option of the reporting person into one share of Class A Common Stock. Each share of Class B Common Stock will convert automatically into shares of Class A common stock, on a one-to-one basis, upon the following: (1) the sale or transfer of such share of Class B Common Stock, subject to certain exceptions specified in the Issuer's amended and restated certificate of incorporation; (2) the death of the reporting person; and (3) the final conversion date, defined as the earlier of (a) the last trading day of the fiscal quarter immediately following the tenth anniversary of the effective date of the Issuer's tenth amended and restated certificate of incorporation; (b) the last trading day of the fiscal quarter during which the then-outstanding shares of Class B Common Stock first represent less than 5% of the aggregate number of then-outstanding shares of Class A Common Stock and Class B Common Stock.
F2 Represents a gift of shares to an irrevocable trust which is administered by an independent trustee established for the benefit of certain members of the Reporting Person's family.
F3 Includes shares previously reported as restricted stock units.