Robert P. Goodman - May 15, 2024 Form 4 Insider Report for ACV Auctions Inc. (ACVA)

Role
Director
Signature
/s/ Robert P. Goodman
Stock symbol
ACVA
Transactions as of
May 15, 2024
Transactions value $
$0
Form type
4
Date filed
5/17/2024, 07:09 PM
Previous filing
Mar 5, 2024
Next filing
May 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 $0 0 $0.00* 0 May 15, 2024 See footnote F1, F2
transaction ACVA Class A Common Stock Sale $0 0 $0.00* 0 May 15, 2024 See footnote F1, F3, F7
transaction ACVA Class A Common Stock Sale $0 0 $0.00* 0 May 15, 2024 See footnote F1, F4, F7
transaction ACVA Class A Common Stock Conversion of derivative security $0 0 $0.00* 0 May 16, 2024 See footnote F1, F5
transaction ACVA Class A Common Stock Sale $0 0 $0.00* 0 May 16, 2024 See footnote F1, F6, F7
holding ACVA Class A Common Stock 375K May 15, 2024 Direct F7
holding ACVA Class A Common Stock 7.39K May 15, 2024 See footnote F8
holding ACVA Class A Common Stock 13.1K May 15, 2024 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 May 15, 2024 Class B Common Stock 0 See footnote F1, F2, F7, F10
transaction ACVA Class B Common Stock Conversion of derivative security $0 0 $0.00* 0 May 16, 2024 Class B Common Stock 0 See footnote F1, F2, F5, F7, F10
* 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 121,655 shares converted from Class B Common Stock to Class A Common Stock by Bessemer Venture Partners IX L.P. ("BVP IX"), 97,464 shares converted from Class B Common Stock to Class A Common Stock by Bessemer Venture Partners IX Institutional L.P. ("BVP IX Inst"), and 2,015 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 May 15, 2024, BVP IX, BVP IX Inst, and 15 Angels sold 77,202, 61,850, and 1,279 shares of Class A Common Stock of ACV Auctions, Inc., respectively, at a weighted average price of $18.60. These shares were sold in multiple transactions at prices ranging from $18.00 to $18.989. 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 On May 15, 2024, BVP IX, BVP IX Inst, and 15 Angels sold 44,453, 35,614, and 736 shares of Class A Common Stock of ACV Auctions, Inc., respectively, at a weighted average price of $19.02. These shares were sold in multiple transactions at prices ranging from $18.99 to $19.105. 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 Represents 97,479 shares converted from Class B Common Stock to Class A Common Stock by BVP IX, 78,110 shares converted from Class B Common Stock to Class A Common Stock by BVP IX Inst, and 1,615 shares converted from Class B Common Stock to Class A Common Stock by 15 Angels.
F6 On May 16, 2024, BVP IX, BVP IX Inst, and 15 Angels sold 97,479, 78,110 and 1,615 shares of Class A Common Stock of ACV Auctions, Inc., respectively, at a weighted average price of $18.44. These shares were sold in multiple transactions at prices ranging from $18.22 to $19.095. 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.
F7 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 the BVP IX Funds The Reporting Person disclaims beneficial ownership of the securities held by BVP IX 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 interest in the BVP IX Funds. This report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities.
F8 The shares reported are 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.
F9 The shares reported are 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.
F10 As of the date hereof, BVP IX, BVP IX Inst, and 15 Angels hold 1,421,130, 1,137,934, and 23,544 shares of Class B Stock, respectively.